NEW YORK, Aug. 19, 2015 /PRNewswire/ -- S&P Dow Jones Indices (S&P DJI), one of the world's leading providers of financial market indices, announced the launch of the S&P 500® Catholic Values Index which is designed to include the companies within the S&P 500 whose business practices adhere to the Socially Responsible Investment Guidelines as outlined by the United States Conference of Catholic Bishops (US CCB) and exclude those that do not. The Index has been licensed to Global X for product development.
The S&P 500 Catholic Values Index is the first Catholic index based on such a prominent benchmark as the S&P 500. Constituents are screened to exclude companies who are involved in the following activities that are perceived to be inconsistent with Catholic values as set out by the US CCB, such as:
- Biological weapons, chemical weapons, cluster bombs, landmines
- Nuclear weapons – any exposure to whole systems and strategic par
- Conventional Military sales – companies that have their primary business activity as military products
- Child labor employment in the company's operation or in supply chain
"Sustainable issues represent one of the most important cost and revenue drivers in the modern corporate world," says Julia Kochetygova, Head of Sustainability Indices at S&P Dow Jones Indices. "By selecting stocks that comply with the US CCB, the S&P 500 Catholic Values Index aims to include companies with resilient business profiles by addressing the ethical challenges that can make a stronger investment case. We are excited to be working with Global X by licensing this new and innovative index to them."
"As a client-focused ETF company, Global X consistently strives to find new paths that help support our clients' businesses," Jim Glowina, Regional Consultant at Global X adds. "Global X is excited to bring to market a custom ETF, which seeks to provide a solution for a client's chosen investment strategy."
"I welcome the creation of the S&P 500 Catholic Values Index and support its specific selection rules. It is important that investors now have a representative measure of the performance of those S&P 500 companies that adhere to the Socially Responsible Investment Guidelines as outlined by the United States Conference of Catholic Bishops," states Father Seamus Finn O.M.I., Chief of Faith Consistent Investing, Oblate International Pastoral Investment Trust.
For more information, including the complete methodology, please visit: www.spdji.com
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SOURCE S&P Dow Jones Indices