Overview and Criteria
FTSE4Good BMS Verification
As set out in the FTSE4Good BMS Criteria, once a BMS manufacturer meets the FTSE4Good Index inclusion criteria and enters the index it is subject to a verification assessment.
2010-2011
The first FTSE4Good BMS verification was carried out by PwC on Nestlé’s head office in Switzerland as well as its operations in two countries, India and Zambia. The verification assessment was funded by FTSE together with the Global Alliance for Improved Nutrition (GAIN) and was also informed through input from a range of organisations. Subsequently a multi-stakeholder workshop was held to review the results and the process itself. Below are links to the resulting documents.
- Letter from Mr Mark Makepeace, FTSE Chief Executive to Nestle - 14 November 2011
- Reply letter from Mr Paul Bulcke, Nestle CEO - 18 November 2011
- FTSE4Good BMS Criteria Verification Workshop Summary - 16 January 2012
2012-2013
The second FTSE4Good BMS verification was carried out by PwC on Nestlé’s head office in Switzerland as well as its operations in two countries, Morocco and Laos. The verification assessment was funded by FTSE together with the Global Alliance for Improved Nutrition (GAIN) and was also informed through input from a range of organisations. Subsequently a multi-stakeholder workshop was held to review the results and the process itself. Below are links to the resulting documents.
- FTSE: Providing Context to the 2012 Nestlé FTSE4Good BMS Verification
- FTSE4Good BMS Verification Country Selection Matrix
- PwC: FTSE4Good BMS Criteria Verification Assessment Report
- Nestle: Comments on the Verification Report of the 2012 FTSE4Good BMS Marketing Assessment
- FTSE4Good BMS Criteria Verification Workshop Summary – 22 October 2013
2014-2015
The third FTSE4Good BMS verification was carried out by PwC on Nestlé’s head office in Switzerland as well as its operations in two countries, Malaysia and Angola. The verification assessment was funded by The Bill and Melinda Gates Foundation and was also informed through input from a range of organisations. Subsequently a multi-stakeholder workshop was held to review the results and the process itself. Below are links to the resulting documents.
- FTSE: Providing Context to the 2014 Nestlé FTSE4Good BMS Verification
- FTSE4Good BMS Verification Country Selection Matrix 2014
- PwC: FTSE4Good BMS Criteria Verification Assessment Report 2014
- Nestle: Comments on the Verification Report of the 2014 FTSE4Good BMS Marketing Assessment
- FTSE4Good BMS Criteria Verification Workshop Summary – 30 January 2015
2016-2017
The fourth FTSE4Good BMS verification was carried out by PwC on Nestlé’s head office in Switzerland as well as its operations in two countries, Thailand and Nigeria. Additionally, following Danone meeting the FTSE4Good BMS Criteria and its inclusion in the FTSE4Good Index Series in June 2016, PwC also carried out the same verification on Danone’s head office in France and its operations in Thailand and Nigeria. The verification assessments were again funded by The Bill and Melinda Gates Foundation. Subsequently another multi-stakeholder workshop was held to review the results for both companies, and the FTSE4Good BMS verification process itself. Below are links to related documents.
- FTSE Russell: Providing Context to the 2016/17 FTSE4Good BMS Verification Process
- PwC: FTSE4Good BMS PwC Verification Assessment 2017 - Nestlé
- PwC: FTSE4Good BMS PwC Verification Assessment 2017 – Danone
- Nestlé: Public response to the 2017 FTSE4Good BMS verification
- Danone: Public response to the 2017 FTSE4Good BMS verification
- FTSE4Good BMS Criteria: Verification Workshop 22 June 2017
- FTSE Russell: Letter from Mr. M. Makepeace to Mr. E. Faber
- Danone: Letter in response from Mr. E. Faber to Mr. M. Makepeace
2019-2021
The fifth FTSE4Good BMS verification was the first carried out as part of FTSE Russell’s collaboration with ATNI on BMS marketing assessments. Three companies were subject to assessment; Nestle, Danone and Reckitt Benckiser. Reckitt Benckiser acquired BMS manufacturer Mead Johnson in 2017, had moved to meet the FTSE4Good BMS Marketing Criteria, and so became subject to a first verification for the FTSE4Good Index. The assessments were carried out at the companies’ head offices as well as at operations and in-market in two countries; the Philippines and Mexico. The exercise was conducted over a longer time period than previous exercises due to the impacts of the COVID-19 pandemic. Below are links to related documents.
- FTSE Russell: 2021 Update on BMS Verification Data Used for the FTSE4Good Index Series
- PwC: FTSE4Good BMS PwC Verification Report - Corporate Head Office and Philippines – Nestle
- PwC: FTSE4Good BMS PwC Verification Report - Corporate Head Office and Philippines – Danone
- PwC: FTSE4Good BMS PwC Verification Report - Corporate Head Office and Philippines – Reckitt Benckiser
- If the companies have issued a public response to their respective reports, they can be found on the companies’ own websites.
- Mexico reports forthcoming (expected in May 2021)