Irresponsible behavior of Spanish FTSE4GOOD Ibex companies based on NGO reports

Abstract

Recently, social responsible investment has experienced exceptional growth. For that reason, many listed companies pretend to have adopted guidelines and values proclaimed by prestigious internacional organizations as the UNO or the OECD. In fact, to adhere such guidelines is a requisite to be included in most socially responsible stock indices. In this paper we search for irresponsible behaviour by Spanish companies included in some of the world most preminent sustainable stock indices. The main result is that most of the companies have been actually critized by prestigious NGOs, so their identification as socially responsible should be questioned.