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December 1, 2009
Brait quits sustainability index over franchise risks
Brait has quit the JSE's Socially Responsible Investment (SRI) index as its executives are displeased that index members are open to external examination of their environmental, social and governance performance.
Specifically, Brait chief executive Anthony Ball had objected to an Ernst & Young report that analysed the SRI's constituents, and ranked the niche financial services firm in the bottom category. This, he complained, was unfair because firms that did not make the index were not examined. It posed "franchise risks" to Brait.
Posted by StaffWriter at December 1, 2009 9:40 AM