Euronext and Borsa Italiana launch new MIB ESG Index

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  • First ESG blue-chip index launched in Italy
  • The index combines measurement of economic performance with ESG impacts, in line with the UN Global Compact principles
  • Euronext is partnering with V.E, part of Moody’s ESG Solutions, to power this second national ESG blue-chip index1

Milan – 18 October 2021 – Euronext today announced the launch of its new MIB® ESG Index1, (gross return Bloomberg code: MIBESG), the first Italian blue-chip Environmental, Social and Governance (ESG) index designed to identify major listed Italian issuers that demonstrate best ESG practices. The MIB® ESG is Euronext’s second national ESG index, after the CAC40 ESG launched in March 2021.

The MIB® ESG index combines measurement of economic performance with ESG considerations, in line with the United Nations (UN) Global Compact principles2. The composition of the index is based on ESG assessments performed by V.E, part of Moody’s ESG Solutions, who engage with issuers on their ESG performance.

The index’s methodology reflects a ranking of the top 40 Italian listed companies based on ESG criteria. The selection is made out of the 60 most liquid Italian companies  and  excluding companies involved in activities which are not compatible with ESG investment. Components of the index are free-float market capitalisation weighted. The composition of the index is revised quarterly to integrate companies whose ESG performance has improved sufficiently since the previous review.

Developed following an intense consultation with the Italian financial community, the methodology will evolve to integrate new EU regulations and ESG standards as they emerge.

Stéphane Boujnah, CEO and Chairman of the Managing Board of Euronext N.V., said: The MIB ESG Index is a critical contribution to a growing demand for sustainable investment tools from both institutional and private investors, and from the market as a whole. The index facilitates the adoption of mainstream ESG investment approaches by investors in Italy and in Europe. The first MIB ESG index also demonstrates the strong involvement in the ESG transition among most of the largest Italian listed companies. Today’s launch is a significant milestone in the integration of Borsa Italiana within Euronext as both companies combine their respective strengths to make Italian capital markets more relevant than ever in the ongoing ESG transformation of the finance world.”

Sabine Lochmann, Global Head of ESG Measures at Moody’s ESG Solutions & President of V.E, said:  We are proud that our high-quality ESG data will power the MIB ESG Index through our continued collaboration with Euronext. Supporting this latest blue-chip index further demonstrates our ongoing commitment to support the integration of ESG factors in investment processes, and catalyse the global shift to a sustainable and responsible financial system.”

 

Next Index Review: 17 December 2021.

Annexes:

1 Euronext launched in March 2021 the CAC 40 ESG® index.

2 For more information on the composition of the index and the methodology, see live.euronext.com. Alongside the MIB® ESG index (ticker code MIBESG) calculated based on price return, Euronext has introduced the MIB® ESG GR (ticker code MIBESGGR) calculated based on gross return, with dividend reinvested and the MIB® ESG GR (ticker code MIBESGNR), based on net return, with the dividend minus tax reinvested.  3 The UN Global Compact principles lay out companies’ fundamental responsibilities in the areas of human rights, labour, environment and anti-corruption. Euronext has endorsed these principles and contributed to the UN Global Compact Sustainable Oceans Business Group, formalising the UN Blue Bond principles.

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About Euronext 
Euronext is the leading pan-European market infrastructure, connecting European economies to global capital markets, to accelerate innovation and sustainable growth. It operates regulated exchanges in Belgium, France, Ireland, Italy, the Netherlands, Norway and Portugal. With close to 1,920 listed issuers and around €6.5 trillion in market capitalisation as of end September 2021, it has an unmatched blue chip franchise and a strong diverse domestic and international client base. Euronext operates regulated and transparent equity and derivatives markets, one of Europe’s leading electronic fixed income trading markets and is the largest centre for debt and funds listings in the world. Its total product offering includes Equities, FX, Exchange Traded Funds, Warrants & Certificates, Bonds, Derivatives, Commodities and Indices. The Group provides a multi-asset clearing house through Euronext Clearing, and custody and settlement services through Euronext Securities central securities depositories in Denmark, Italy, Norway and Portugal. Euronext also leverages its expertise in running markets by providing technology and managed services to third parties. In addition to its main regulated market, it also operates a number of junior markets, simplifying access to listing for SMEs. Euronext provides custody and settlement services through central securities depositories in Denmark, Italy, Norway and Portugal. 
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