Axa and BNP Paribas are among the top ten performers in the French stock market based on corporate governance, a newly launched index shows.
Companies in the Cac 40 are having corporate governance scrutiny applied to them by Euronext and Vigeo Eiris.
The two firms have launched the CAC 40 Governance Index, which weights the companies according to corporate governance scores.
Board organisation, audit and internal controls, and executive pay are among 45 indicators.
Euronext and Vigeo Eiris said the index showed Cac 40 companies demonstrated “robust performances” in responsible corporate governance, with environmental, social and governance factors well integrated.
But the main “area of vulnerability” was responsible executive remuneration, in particular the independence of remuneration committees, transparency on remuneration levels.
Fouad Benseddik, director of methods and institutional relations at Vigeo Eiris, said: “We are convinced that this new index, which responds to strong market demand, will lead to even better recognition of the companies that rely on the most responsible governance systems.”
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