The first ESG index on the Piazza Affari blue chips comes to life today. The new Mib ESG index, announced today by Euronext, is in fact the primo indice Esg (Environmental, Social and Governance) dedicated to Italian blue-chips, designed to identify the large listed Italian issuers with the best ESG practices. This is Euronext’s second national ESG index, after Cac40 Esg last March.
How the new index works
The Mib Esg index combines the measurement of economic performance with ESG assessments in line with the principles of the United Nations Global Compact. The composition of the index is based on the analysis of ESG criteria by Vigeo Eiris, a company of Moody’s ESG Solutions, which evaluates the ESG performance of the issuers.
The methodology underlying the index provides for a ranking of the best 40 companies based on ESG criteria, selected from among the 60 most liquid Italian companies, excluding those involved in activities not compatible with ESG investments. The components of the index are weighted on the basis of the free float market capitalization. The composition of the index will be reviewed on a quarterly basis. The reviews will make it possible to include companies whose ESG performance has improved sufficiently. The next index revision is scheduled for December 17, 2021.
The composition of the index: 31 stocks of the Ftse Mib are present
Here is the list of companies present: A2a, Amplifon, Anima, Atlantia, Banca Generali, Banca Mediolanum, Banco Bpm, Bper Banca, Brembo, Cnh Industrial, Enel, Eni, Erg, Falck Renewables, Ferrari, Generali, Hera, Intesa Sanpaolo, Iren, Italgas, Mediaset, Mediobanca, Moncler, Nexi, Pirelli, Poste Italiane, Prysmian, Recordati, Reply, Saipem, Salvatore Ferragamo, Snam, Stellantis, Stmicroelectronics, Telecom Italia, Terna, Unicredit, Unipol, Unipolsai and Webuild.
It immediately catches the eye that the majority of the members, no less than 31, are companies that are also part of the Ftse Mib index. The remaining nine, on the other hand, are companies in the Milanese list that have higher ESG valuations than the 9 securities of the Ftse Mib that do not appear in the ESG index.
Anima, Brembo, Erg, Falck Renewables, Mediaset, Reply, Salvatore Ferragamo, Unipolsai and Webuild are the titles that overlook the MIB ESG, while among the top 40 of the Ftse Mib those not included in the ESG index are Azimut, Buzzi, Diasorin, Exor, Finecobank, Interpump, Inwit, Leonardo e Tenaris.