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90% of largest companies concerned about climate change -- survey
Modified Carbon Disclosure Project Press Release
September 18, 2005


More U.S. corporations than ever before now factor climate change into the risks and opportunities faced by their businesses, according to a report released today by the Carbon Disclosure Project, a coalition of institutional investors with more than $21 trillion in assets. Increased interest from the investment community, in conjunction with related macro-economic developments, is encouraging the development of strategies to reduce greenhouse gas emissions.

The report shows a marked increase in awareness of climate change and disclosure of related data among U.S. corporations, some of which are establishing leading positions in the growing markets for low-carbon technologies and solutions. U.S. corporations listed for the first time in the report's Climate Leadership Index, an Index of the FT500's 60 ‘best in class', include the utilities Duke Energy and Exelon, industrial conglomerate General Electric, and pharmaceutical maker Bristol-Myers Squibb. U.S. corporations appearing for the second time include Citigroup, American Electric Power, Ford and UPS.

James Cameron, Chairman of the Carbon Disclosure Project (CDP), said: "Wall Street is waking up to climate change risks and opportunities. Considerably more of the world's largest corporations are getting a handle on what climate change means for their business and what they need to do to capture opportunities and mitigate risks. This all points to a continued elevation of climate change as a critical shareholder value issue for investors."

Cameron added: "Thanks to the support of investors and corporations over the last five years, CDP has generated the leading database of investment-relevant information regarding climate change. We are proud to be able to help investors and corporations make informed decisions on the subject."

Sample questions from the Carbon Disclosure Project (CDP) Greenhouse Gas Emissions Questionnaire Do you believe climate change, the policy responses to climate change and/or adaptation to climate change represent commercial risks and/or opportunities for your company? Do you allocate specific responsibility to executive and independent directors for climate change related issues? What are the relevant technologies and/or processes that can be employed in your company/sector to achieve emission reductions? Have you taken any steps to develop/implement these technologies and do you anticipate being able to profit from their commercialisation? What is the quantity in tonnes CO2e of annual emissions of the six main GHGs produced by your owned and controlled facilities in the following areas (Globally, Annex B countries of the Kyoto Protocol, EU Emissions Trading Directive)? Do you have emission reduction programmes in place? The full questionare is available at www.cdproject.net

The Carbon Disclosure Project provides a secretariat for the world's largest institutional investor collaboration on the business implications of climate change. CDP was launched five years ago to gather the information necessary for investors to evaluate the winners and losers from a future impacted by climate change and responses to climate change. CDP issued its third information request (CDP3) on behalf of 155 institutional investors with more than $21 trillion assets under management to the Chairmen of the FT500 companies on February 01, 2005. The corporation's responses and the CDP3 report based on them are being launched today at the offices of JPMorgan Chase in New York and from the CDP website www.cdproject.net.

Bill Page, Portfolio Manager, and Chair of SRI Team at SSgA said: "State Street Global Advisors is proud to be a signatory of the Carbon Disclosure Project. We believe improved transparency regarding carbon emissions will better enable us to uncover investment opportunities for clients. It's time corporations across all sectors addressed the challenges of climate change."

Steve Westly, Controller California and Trustee to CalPERS and CalSTRS (a CDP signatory), said: "U.S. states discharge a heavy responsibility to invest on behalf of millions of public employees. We believe it is inevitable that at some point the U.S. will join the other G8 countries and introduce limitations on the emissions of greenhouse gases. That is why we are leading investor collaboration to gather the data on corporate greenhouse gas emissions required to undertake prudent investment management. And that is why CalPERS, CalSTRS and the California Treasury are participants in the Carbon Disclosure Project. We encourage fund managers interested in our business to follow suit."

Key Findings from CDP3:

Growing Corporate Awareness

• More than 70% of FT500 companies responded to the CDP information request, a jump from 59% in CDP2 and 47% in CDP1.
• More than 90% of the 354 responding FT500 companies flagged climate change as posing commercial risks and/or opportunities to their business.
• 86% reported allocating management responsibility for climate change.
• 80% disclosed emissions data.
• 63% of FT500 companies are taking steps to assess their climate risk and institute strategies to reduce greenhouse gas emissions.

Increasing Investor Interest

• CDP3 involved more institutional investors than ever before.
• There are now 155 signatories to the Carbon Disclosure Project (CDP) who represent more than $21 trillion in assets under management, a doubling from CDP2 (95 signatories, $10 trillion assets), and quadruple that of CDP1 (35 signatories, $4.5 trillion assets).

Increasing U.S. Momentum

• CDP3 saw a dramatic increase in the number of U.S. corporations making information on their greenhouse gas emissions and climate change strategies available to investors.
• This year 60% of all U.S. FT500 companies provided answers to the CDP survey. This is a considerable increase over the 42% that responded to CDP2.

Still Much Work to Do

• Despite the increase in numbers of corporations that are aware of climate change, CDP3 reveals a large gap between awareness and action.
• Just over half of the FT500 reported their greenhouse gas emissions for CDP3, but less than 50 FT 500 corporations actually reduced them over the last year.
• Only 51% of respondents have implemented emission reduction programs and only 45% have established emission reduction targets.
• Less than 35% report having taken early action in emissions trading.
• Only 13% of companies reporting to CDP3 recorded a reduction in their greenhouse gas emissions since CDP2.

The CDP is a special project of Rockefeller Philanthropy Advisors. The CDP is financially supported by the Carbon Trust UK, Climate Initiatives Fund UK, Esmée Fairbairn Foundation UK, The Funding Network, Home Foundation Holland, The Nathan Cummings Foundation USA, Network for Social Change UK, Polden Puckham Charitable Foundation UK, Rockefeller Brothers Fund USA, Rufus Leonard UK, Turner Foundation USA, W. Alton Jones Foundation USA, WWF UK.


More information at the Carbon Disclosure Project.








The above is a press release from the Carbon Disclosure Project

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Further information
The Global 500 from the Financial Times. More data on the FT500 is available at www.ft.com/ft500.

A list of companies participating in the Carbon Disclosure Project's latest survey can be found at www.cdproject.net/responses_cdp3.asp

2005 Rank Company / Country Market Capitalization in $ million Sector 1 General Electric US 382233.1 Diversified industrial 2 ExxonMobil US 380567.2 Oil & gas 3 Microsoft US 262974.9 Software & computer services 4 Citigroup US 234436.7 Banks 5 BP UK 221365.3 Oil & gas 6 Wal-Mart Stores US 212209.0 General retailers 7 Royal Dutch/Shell Netherlands/UK 210630.4 Oil & gas 8 Johnson & Johnson US 199711.4 Pharmaceuticals & biotechnology 9 Pfizer US 195944.6 Pharmaceuticals & biotechnology 10 Bank of America US 178765.4 Banks 11 HSBC UK 176858.4 Banks 12 Vodafone UK 171416.9 Telecommunication services 13 IBM US 165787.1 Software & computer services 14 Total France 148957.1 Oil & gas 15 Intel Corporation US 144695.4 Information technology hardware 16 American International Group US 144319.2 Insurance 17 Altria US 135246.1 Tobacco 18 Toyota Motor Japan 134324.4 Automobiles & parts 19 GlaxoSmithKline UK 134123.5 Pharmaceuticals & biotechnology 20 Berkshire Hathaway US 134067.2 Insurance 21 Procter & Gamble US 133697.0 Personal care & household products 22 Saudi Basic Industries Saudi Arabia 128790.0 Diversified industrial 23 Novartis Switzerland 124610.2 Pharmaceuticals & biotechnology 24 ChevronTexaco US 123536.3 Oil & gas 25 JP Morgan Chase US 123261.1 Banks 26 Sanofi-Aventis France 119029.6 Pharmaceuticals & biotechnology 27 Cisco Systems US 117801.0 Information technology hardware 28 Nestle Switzerland 110440.9 Food producers & processors 29 ENI Italy 103986.5 Oil & gas 30 Wells Fargo US 101406.9 Banks 31 Coca-Cola US 100428.4 Beverages 32 Royal Bank of Scotland UK 99988.0 Banks 33 Verizon Communications US 98333.7 Telecommunication services 34 Roche Switzerland 95779.9 Pharmaceuticals & biotechnology 35 UBS Switzerland 95069.5 Banks 36 Dell US 94474.9 Information technology hardware 37 Pepsico US 88993.5 Beverages 38 Telefonica Spain 86353.0 Telecommunication services 39 Home Depot US 83973.3 General retailers 40 Deutsche Telekom Germany 83866.0 Telecommunication services 41 BHP Billiton Australia/UK 82081.4 Mining 42 NTT DoCoMo Japan 81747.9 Telecommunication services 43 Wachovia US 80745.5 Banks 44 Time Warner US 78967.4 Media & entertainment 45 SBC Communications US 78258.4 Telecommunication services 46 Santander Central Hispano Spain 76137.8 Banks 47 ConocoPhillips US 75036.2 Oil & gas 48 Comcast US 74118.0 Media & entertainment 49 France Telecom France 73885.2 Telecommunication services 50 Nippon Telegraph & Telephone Japan 73305.3 Telecommunication services 51 Amgen US 72920.6 Pharmaceuticals & biotechnology 52 Samsung Electronics South Korea 72780.4 Information technology hardware 53 Abbott Laboratories US 72677.7 Pharmaceuticals & biotechnology 54 Nokia Finland 72314.2 Information technology hardware 55 Merck US 71474.6 Pharmaceuticals & biotechnology 56 Siemens Germany 70319.5 Electronic & electric equipment 57 Tyco International US 68046.4 Diversified industrial 58 Gazprom Russia 67942.9 Oil & gas 59 Unilever Netherlands/UK 67664.2 Food producers & processors 60 ING Netherlands 66598.6 Insurance 61 3M US 66188.9 Diversified industrial 62 Barclays UK 65949.0 Banks 63 News Corporation US 65168.5 Media & entertainment 64 China Mobile Hong Kong Hong Kong 64400.9 Telecommunication services 65 AstraZeneca UK 64350.4 Pharmaceuticals & biotechnology 66 Oracle Corporation US 64164.4 Software & computer services 67 American Express US 64109.8 Speciality & other finance 68 Hewlett-Packard US 63528.4 Information technology hardware 69 BNP Paribas France 62718.7 Banks 70 Morgan Stanley US 62257.3 Speciality & other finance 71 Medtronic US 61625.1 Health 72 UnitedHealth Group US 61184.3 Health 73 HBOS UK 60987.0 Banks 74 Telecom Italia Italy 60813.8 Telecommunication services 75 Qualcomm US 60285.2 Information technology hardware 76 E.ON Germany 59301.3 Utilities - other 77 Genentech US 59231.1 Pharmaceuticals & biotechnology 78 Eli Lilly US 59014.7 Pharmaceuticals & biotechnology 79 Walt Disney US 58821.1 Media & entertainment 80 ENEL Italy 58593.1 Electricity 81 Telecom Italia Mobile Italy 57880.5 Telecommunication services 82 Mitsubishi Tokyo Financial Japan 56763.3 Banks 83 Viacom US 56747.0 Media & entertainment 84 Mizuho Financial Japan 56684.7 Banks 85 Wyeth US 56354.7 Pharmaceuticals & biotechnology 86 BBVA Spain 55214.7 Banks 87 Saudi Telecom Saudi Arabia 54915.0 Telecommunication services 88 L'Oreal France 54122.7 Personal care & household products 89 Merrill Lynch US 54013.8 Speciality & other finance 90 U. S. Bancorp US 53811.5 Banks 91 Goldman Sachs US 53048.6 Speciality & other finance 92 Fannie Mae US 52702.4 Speciality & other finance 93 United Technologies US 52027.5 Aerospace & defence 94 Credit Suisse Switzerland 51427.1 Banks 95 E.I. du Pont de Nemours US 51086.3 Chemicals 96 AXA France 50844.9 Insurance 97 SAP Germany 50718.9 Software & computer services 98 Lloyds TSB UK 50528.5 Banks 9 99 Telstra Australia 50203.3 Telecommunication services 100 eBay US 50107.4 General retailers 101 Gillette US 50042.1 Personal care & household products 102 Bristol-Myers-Squibb US 49692.5 Pharmaceuticals & biotechnology 103 Allianz Germany 48998.6 Insurance 104 Boeing US 48663.6 Aerospace & defence 105 BellSouth US 48151.5 Telecommunication services 106 Canon Japan 47618.5 Electronic & electric equipment 107 Dow Chemical US 47535.5 Chemicals 108 Yahoo! US 47025.2 Software & computer services 109 Deutsche Bank Germany 46923.1 Banks 110 Honda Japan 46611.7 Automobiles & parts 111 Nissan Motor Japan 46331.9 Automobiles & parts 112 Tesco UK 46114.9 Food & drug retailers 113 Petrobras Brazil 45968.8 Oil & gas 114 Ericsson Sweden 45522.3 Information technology hardware 115 DaimlerChrysler Germany 45393.1 Automobiles & parts 116 Walgreen US 45369.8 Food & drug retailers 117 Rio Tinto PLC Australia/UK 45151.8 Mining 118 Societe Generale France 45113.1 Banks 119 United Parcel Service US 44915.4 Support services 120 Target US 44789.2 General retailers 121 Carnival Corporation US/UK 44262.4 Leisure & hotels 122 Lowe's Cos US 44116.9 General retailers 123 Texas Instruments US 43876.3 Information technology hardware 124 Freddie Mac US 43855.8 Speciality & other finance 125 Takeda Pharmaceutical Japan 42484.9 Pharmaceuticals & biotechnology 126 Sumitomo Mitsui Financial Japan 42463.7 Banks 127 ABN Amro Netherlands 42255.6 Banks 128 Diageo UK 42100.2 Beverages 129 Schlumberger US 41530.9 Oil & gas 130 Generali Italy 41191.3 Insurance 131 A.P. Moller-Maersk A/S Denmark 40645.5 Transport 132 Credit Agricole France 40060.0 Banks 133 McDonald's US 39613.7 Leisure & hotels 134 BASF Germany 39438.8 Chemicals 135 Royal Bank of Canada Canada 39159.2 Banks 136 Manulife Financial Canada 38602.9 Life assurance 137 Wellpoint US 38230.0 Health 138 Etisalat UAE 38077.2 Telecommunication services 139 Taiwan Semiconductor Manufacturing Taiwan 37945.7 Information technology hardware 140 British American Tobacco UK 37613.0 Tobacco 141 Carrefour France 37425.4 Food & drug retailers 142 Statoil Norway 37242.9 Oil & gas 143 Fortis Belgium 37126.9 Banks 144 Unicredito Italiano Italy 37087.5 Banks 5.9 145 Sony Japan 36986.8 Household goods & textiles 146 Anheuser-Busch US 36820.1 Beverages 147 Allstate US 36717.9 Insurance 148 Motorola US 36683.7 Information technology hardware 149 LVMH France 36649.9 Household goods & textiles 150 Philips Electronics Netherlands 36257.2 Electronic & electric equipment 151 Hutchison Whampoa Hong Kong 36205.5 Diversified industrial 152 Matsushita Electric Industrial Japan 36144.2 Electronic & electric equipment 153 Anglo American UK 35410.7 Mining 154 Yahoo Japan Japan 35344.8 Software & computer services 155 Companhia Vale do Rio Doce Brazil 35205.9 Mining 156 Washington Mutual US 34730.3 Banks 157 Commonwealth Bank of Australia Australia 34405.8 Banks 158 National Australia Bank Australia 34340.5 Banks 159 Apple Computer US 34051.6 Information technology hardware 160 Samba Financial Saudi Arabia 33565.2 Banks 161 BT Group UK 32993.1 Telecommunication services 162 Bank of Nova Scotia Canada 32970.2 Banks 163 Vivendi Universal France 32851.3 Media & entertainment 164 Tepco Japan 32802.3 Electricity 165 EnCana Canada 32510.7 Oil & gas 166 Repsol-YPF Spain 32320.5 Oil & gas 167 America Movil Mexico 31786.2 Telecommunication services 168 RWE Germany 31731.4 Utilities - other 169 Sprint US 31684.2 Telecommunication services 170 Honeywell International US 31657.2 Aerospace & defence 171 Kimberly-Clark US 31633.9 Personal care & household products 172 First Data US 31522.3 Support Services 173 MBNA US 31366.9 Speciality & other finance 174 Caterpillar US 31358.2 Engineering & machinery 175 Nextel Communications US 31178.6 Telecommunication services 176 KBC Groupe Belgium 30890.3 Banks 177 Exelon US 30332.2 Electricity 178 BMW Germany 30220.8 Automobiles & parts 179 Banca Intesa Italy 30156.5 Banks 5.1 180 Surgutneftegas OAO Russia 30102.2 Oil & gas 181 Prudential Financial US 30077.6 Life assurance 182 EMC US 29617.4 Information technology hardware 183 ANZ Banking Australia 29148.5 Banks 184 Liberty Media US 29051.6 Media & entertainment 185 Nordea Bank Sweden 28822.1 Banks 186 Lukoil Russia 28791.6 Oil & gas 187 Metlife US 28657.3 Life assurance 188 National Grid Transco UK 28612.1 Utilities - other 189 Fedex US 28379.9 Support services 190 Occidental Petroleum US 28270.9 Oil & gas 191 Al Rahji Banking & Investment Saudi Arabia 27891.9 Banks 192 Oil & Natural Gas India 27873.8 Oil & gas 193 TeliaSonera Sweden 27807.4 Telecommunication services 194 Alcon US 27596.1 Health 195 Munich Re Germany 27591.2 Insurance 196 Nomura Holdings Japan 27500.0 Speciality & other finance 197 BG UK 27466.3 Oil & gas 198 Suez France 27465.1 Utilities - other 199 Colgate-Palmolive US 27400.5 Personal care & household products 200 Aviva UK 27381.3 Life assurance 201 Dexia Belgium 27245.6 Banks 202 Emerson Electric US 27226.7 Electronic & electric equipment 203 Toronto Dominion Bank Canada 27200.5 Banks 204 UFJ Holdings Japan 27155.4 Banks 205 Applied Materials US 27102.1 Information technology hardware 206 Deutsche Post Germany 27093.7 Support services 207 Lockheed Martin US 26936.1 Aerospace & defence 208 Duke Energy US 26824.9 Electricity 209 Schering Plough US 26770.7 Pharmaceuticals & biotechnology 210 Danone France 26676.2 Food producers & processors 211 Westpac Banking Australia 26555.9 Banks 212 Alcoa US 26485.5 Steel & other metals 213 Automatic Data Processing US 26210.2 Support Services 214 Illinois Tool Works US 26165.9 Engineering & machinery 215 Imperial Oil Canada 26036.2 Oil & gas 216 Lehman Brothers US 26007.3 Speciality & other finance 217 Suntrust Banks US 26005.1 Banks 218 Singapore Telecommunications Singapore 25988.6 Telecommunication services 219 Renault France 25452.1 Automobiles & parts 220 Hang Seng Bank Hong Kong 25364.6 Banks 221 Dominion Resources US 25350.3 Electricity 222 Zurich Financial Services Switzerland 25280.2 Insurance 223 Saudi Electricity Saudi Arabia 25274.0 Electricity 224 Hennes & Mauritz Sweden 25132.6 General retailers 225 Millea Holdings Japan 25124.2 Insurance 226 HCA US 24762.5 Health 227 St. Paul Travelers US 24589.3 Insurance 228 Boston Scientific US 24567.2 Health 229 Electrabel Belgium 24542.6 Electricity 230 Reed Elsevier Netherlands/UK 24338.1 Media & entertainment 231 Swisscom Switzerland 24279.1 Telecommunication services 232 EADS France 24206.4 Aerospace & defence 233 Cardinal Health US 24195.2 Health 234 Seven-Eleven Japan Japan 24157.4 Food & drug retailers 235 Bayer Germany 24144.8 Chemicals 236 Guidant US 23840.1 Health 237 Endesa Spain 23815.0 Electricity 238 Fifth Third Bancorp US 23780.2 Banks 239 Iberdrola Spain 23586.7 Electricity 240 Southern Company US 23496.3 Electricity 241 Standard Chartered UK 23298.5 Banks 242 Bank of Montreal Canada 23289.1 Banks 243 TXU US 23188.3 Electricity 244 BCE Canada 23137.1 Telecommunication services 245 San Paolo IMI Italy 23102.1 Banks 246 Swiss RE Switzerland 23070.2 Insurance 247 Reckitt Benckiser UK 22942.6 Personal care & household products 248 Devon Energy US 22892.3 Oil & gas 249 Resona Japan 22807.1 Banks 2 250 Sysco US 22801.3 Food producers & processors 251 Prudential UK 22702.1 Life assurance 9.6 252 Bank of New York US 22587.6 Banks 253 Japan Tobacco Japan 22194.9 Tobacco 254 CNOOC Ltd Hong Kong 22102.4 Oil & gas 255 Aetna US 22062.7 Health 256 Denso Japan 22012.7 Automobiles & parts 257 Thomson Canada 21844.7 Media & entertainment 258 Halliburton US 21817.7 Oil & gas 259 Sun Hung Kai Properties Hong Kong 21775.1 Real estate 9.1 260 National City US 21666.1 Banks 261 Cendant US 21625.3 Leisure & hotels 262 East Japan Railway Japan 21486.1 Transport 263 BB&T Corporation US 21433.7 Banks 264 General Dynamics US 21423.9 Aerospace & defence 265 Norsk Hydro Norway 21329.3 Oil & gas 266 CVS Corporation US 21286.7 Food & drug retailers 267 Westfield Group Australia 21258.3 Real estate 268 Canadian Imperial Bank of Commerce Canada 21111.3 Banks 269 Costco Wholesale US 21103.1 General retailers 270 Baxter International US 21057.5 Health 271 SLM US 21015.3 Speciality & other finance 272 KDDI Japan 21000.9 Telecommunication services 273 Aegon Netherlands 20955.1 Life assurance 274 Hitachi Japan 20918.8 Information technology hardware 275 KPN Netherlands 20837.7 Telecommunication services 276 Saint-Gobain France 20777.5 Construction & building materials 277 Cadbury Schweppes UK 20764.9 Food producers & processors 278 British Sky Broadcasting UK 20715.8 Media & entertainment 279 Google US 20714.3 Software & computer services 280 Telefonos de Mexico Mexico 20640.6 Telecommunication services 281 Sears Holdings US 20614.4 General retailers 282 Starbucks US 20601.5 Leisure & hotels 283 Cheung Kong Hong Kong 20560.1 Real estate 8.9 284 Mitsubishi Corp Japan 20354.2 Diversified industrial 285 Hartford Financial Services US 20274.0 Insurance 286 Burlington Northern Santa Fe US 20273.5 Transport 287 Avon Products US 20247.2 Personal care & household products 288 InBev SA Belgium 20142.9 Beverages 289 Air Liquide France 20090.4 Chemicals 290 Apache US 20089.3 Oil & gas 291 DIRECTV US 19983.9 Media & entertainment 292 Gannett US 19943.9 Media & entertainment 293 Ford Motor US 19941.4 Automobiles & parts 294 Chunghwa Telecom Taiwan 19932.8 Telecommunication services 295 Shell Canada Canada 19796.2 Oil & gas 296 O2 UK 19604.1 Telecommunication services 297 Great West Lifeco Canada 19580.3 Life assurance 298 Danske Bank Denmark 19505.8 Banks 299 Boc Hong Kong Hong Kong 19448.1 Banks 1.8 300 Northrop Grumman US 19447.2 Aerospace & defence 301 Teva Pharmaceutical Industries Israel 19437.5 Pharmaceuticals & biotechnology 302 Sun Life Financial Canada 19384.2 Life assurance 303 Volvo Sweden 19383.1 Engineering & machinery 304 Burlington Resources US 19376.9 Oil & gas 305 Clear Channel Communications US 19327.7 Media & entertainment 306 Kansai Electric Power Japan 19302.1 Electricity 307 Zimmer Holdings US 19195.0 Health 308 Central Japan Railway Japan 19176.4 Transport 309 Imperial Tobacco UK 19063.5 Tobacco 310 Volkswagen Germany 18962.1 Automobiles & parts 311 Countrywide Financial US 18840.4 Speciality & other finance 312 Anadarko Petroleum US 18822.4 Oil & gas 313 Ambev Brazil 18818.2 Beverages 314 Fuji Photo Film Japan 18812.8 Media & entertainment 315 Valero Energy US 18804.4 Oil & gas 316 Gap US 18750.3 General retailers 317 AFLAC US 18699.1 Life assurance 318 Power Financial Canada 18668.4 Life assurance 319 Inditex Spain 18643.3 General retailers 320 Golden West Financial US 18568.8 Speciality & other finance 321 Capital One Financial US 18481.9 Speciality & other finance 322 Progressive US 18360.8 Insurance 323 Suncor Energy Inc Canada 18286.3 Oil & gas 324 Banco Itau Brazil 18232.4 Banks 325 AIB Ireland 18196.6 Banks 326 Union Pacific US 18191.6 Transport 327 Caremark RX US 18179.0 Health 328 Canadian National Railway Canada 18072.7 Transport 329 International Paper US 18039.1 Forestry & paper 330 HypoVereinsbank Germany 17990.0 Banks 331 Stryker US 17973.5 Health 332 General Mills US 17943.6 Food producers & processors 333 Kellogg US 17929.9 Food producers & processors 334 Kohls US 17729.6 General retailers 335 Schneider Electric France 17726.9 Electronic & electric equipment 336 Best Buy US 17719.3 General retailers 337 Chubu Electric Power Japan 17694.4 Electricity 338 Metro AG Germany 17537.4 General retailers 339 Raytheon US 17534.8 Aerospace & defence 340 Sara Lee US 17491.5 Food producers & processors 341 Reliance Industries India 17423.2 Chemicals 342 Kraft Foods US 17408.8 Food producers & processors 343 Newmont Mining US 17322.0 Mining 344 POSCO South Korea 17248.8 Steel & other metals 345 SABMiller UK 17231.1 Beverages 346 Nippon Steel Japan 17202.8 Steel & other metals 347 Franklin Resources US 17188.6 Speciality & other finance 348 GUS UK 17182.5 General retailers 349 Monsanto US 17174.7 Chemicals 350 Formosa Petrochemical Taiwan 17004.2 Chemicals 351 Mediaset Italy 16998.6 Media & entertainment 352 Heineken Netherlands 16979.7 Beverages 353 Fortum Finland 16977.4 Utilities - other 354 Harley Davidson US 16864.3 Automobiles & parts 355 Sharp Japan 16800.5 Electronic & electric equipment 356 Novo Nordisk Denmark 16757.2 Pharmaceuticals & biotechnology 357 Ito Yokado Japan 16755.0 General retailers 358 Unocal US 16691.6 Oil & gas 359 McGraw-Hill US 16602.2 Media & entertainment 360 General Motors US 16600.2 Automobiles & parts 361 Alltel US 16590.8 Telecommunication services 362 Lafarge France 16552.6 Construction & building materials 363 Deere US 16547.9 Engineering & machinery 364 Danaher US 16514.4 Engineering & machinery 365 Weyerhaeuser US 16471.9 Forestry & paper 366 Korea Electric Power South Korea 16468.3 Electricity 367 Loblaw Canada 16466.3 Food & drug retailers 368 Svenska Handelsbanken Sweden 16424.6 Banks 369 Adobe Systems US 16402.9 Software & computer services 370 Waste Management US 16400.5 Support services 371 Richemont Switzerland 16393.3 Household goods & textiles 372 JFE Holdings Japan 16374.1 Steel & other metals 373 Transocean US 16364.3 Oil & gas 374 Omnicom US 16356.5 Media & entertainment 375 Marathon Oil US 16281.9 Oil & gas 376 Shin Etsu Chemical Japan 16280.4 Chemicals 377 Centrica UK 16148.7 Utilities - other 378 Archer Daniels Midland US 16123.4 Food producers & processors 379 Gilead Sciences US 16105.8 Pharmaceuticals & biotechnology 380 Marsh & McLennan US 16089.8 Insurance 381 Computer Associates Intl US 16025.8 Software & computer services 382 National Thermal Power India 16001.8 Electricity 383 Entergy Corporation US 15954.3 Electricity 384 Electronic Arts US 15944.9 Software & computer services 385 Alcatel France 15830.0 Information technology hardware 386 Cathay Financial Taiwan 15789.2 Speciality & other finance 1.9 387 RAS Italy 15786.4 Insurance 388 BAE Systems UK 15735.0 Aerospace & defence 389 Banco Popular Espanol Spain 15726.0 Banks 390 Telenor Group Norway 15712.9 Telecommunication services 391 Sasol South Africa 15695.5 Oil & gas 392 Corning US 15690.9 Information technology hardware 393 Staples US 15566.0 General retailers 394 Nike US 15535.8 Household goods & textiles 395 Peugeot France 15450.1 Automobiles & parts 396 Masco US 15435.1 Construction & building materials 397 Praxair US 15429.1 Chemicals 398 Chubb US 15391.5 Insurance 399 Nintendo Japan 15391.3 Software & computer services 400 Bridgestone Japan 15313.0 Automobiles & parts 401 Wal-Mart de Mexico Mexico 15310.4 General retailers 402 Bank of Ireland Ireland 15227.0 Banks 403 Canadian Natural Resources Canada 15150.7 Oil & gas 404 Petro Canada Canada 15143.8 Oil & gas 405 Symantec Corp US 15134.4 Software & computer services 406 Tata Consultancy Services India 15116.3 Software & computer services 407 Yum! Brands US 15096.4 Leisure & hotels 408 Mitsubishi Estate Japan 15096.1 Real estate 409 STMicroelectronics France 15063.1 Information technology hardware 410 Regions Financial US 15052.8 Banks 411 Baker Hughes US 15045.9 Oil & gas 412 Kookmin Bank South Korea 15014.7 Banks 413 AT&T US 15006.5 Telecommunication services 414 Fanuc Japan 14987.1 Electronic & electric equipment 415 Belgacom Belgium 14961.9 Telecommunication services 416 FPL Group US 14961.7 Electricity 417 Marriott International US 14950.7 Leisure & hotels 418 AGF France 14901.1 Insurance 419 Norfolk Southern US 14830.3 Transport 420 J C Penney US 14828.6 General retailers 421 Autostrade Italy 14801.7 Transport 422 Riyad Bank Saudi Arabia 14786.0 Banks 423 Becton Dickinson US 14775.3 Health 424 Arcelor France 14623.0 Steel & other metals 425 Mitsui Japan 14606.3 Diversified industrial 426 State Street Corporation US 14582.0 Speciality & other finance 427 PNC Financial Services US 14568.1 Banks 428 Xerox US 14504.2 Information technology hardware 429 Softbank Japan 14488.4 Software & computer services 430 Bank Austria Creditanstalt Austria 14486.1 Banks 431 Veolia Environnement France 14416.2 Utilities - other 432 Air Products and Chemicals US 14404.7 Chemicals 433 Scottish Power UK 14396.0 Electricity 434 Genzyme US 14385.2 Pharmaceuticals & biotechnology 435 Research in Motion Canada 14381.0 Information technology hardware 436 Hon Hai Precision Industry Taiwan 14333.9 Electronic & electric equipment 437 Scottish & Southern Energy UK 14298.7 Electricity 438 WPP Group UK 14241.4 Media & entertainment 439 LG Philips LCD South Korea 14152.7 Electronic & electric equipment 440 Holcim Switzerland 14143.4 Construction & building materials 441 IAC/InterActiveCorp US 14124.7 General retailers 442 Amazon.com US 14070.2 General retailers 443 Alcan Canada 14067.2 Steel & other metals 444 Mobile Telesystems Russia 14029.0 Telecommunication services 445 Conagra Foods US 13928.8 Food producers & processors 446 CRH Ireland 13921.1 Construction & building materials 447 Legal & General UK 13912.2 Life assurance 2.1 448 Mitsui Sumitomo Insurance Japan 13871.4 Insurance 9.2 449 Charles Schwab US 13868.2 Speciality & other finance 450 SK Telecom South Korea 13854.6 Telecommunication services 451 FirstEnergy US 13836.6 Electricity 452 Accenture US 13830.6 Support services 453 Ingersoll-Rand US 13817.7 Engineering & machinery 454 PTT Thailand 13802.1 Oil & gas 455 CLP Holdings Hong Kong 13706.3 Electricity 456 Mediobanca Italy 13681.9 Speciality & other finance 457 Portugal Telecom Portugal 13671.1 Telecommunication services 458 TPG Netherlands 13666.8 Support services /12/2004 459 Loews Corporation US 13650.6 Diversified industrial 460 Medco Health Solutions US 13649.2 Health 461 Kyocera Japan 13648.1 Electronic & electric equipment 462 Sun Microsystems US 13646.6 Information technology hardware 463 DnB NOR Norway 13632.9 Banks 464 Standard Bank South Africa 13615.6 Banks 465 Apollo Group US 13601.2 Support services 466 PG&E US 13520.2 Electricity 467 American Electric Power US 13482.9 Electricity 468 DBS Group Singapore 13476.2 Banks 9 8.9 2.7 469 Analog Devices US 13462.6 Information technology hardware 470 Toshiba Japan 13448.6 Information technology hardware 471 Simon Property US 13397.6 Real estate 472 United Overseas Bank Singapore 13395.6 Banks 8.7 473 Skandinaviska Enskilda Banken Sweden 13384.5 Banks 474 Maxim Integrated Products US 13352.8 Information technology hardware 475 Bradesco Brazil 13346.2 Banks 476 Infosys Technologies Ltd India 13316.2 Software & computer services 477 Saudi British Bank Saudi Arabia 13292.5 Banks 478 Christian Dior France 13252.5 Household goods & textiles 479 North Fork Bancorp US 13186.0 Banks 480 KeyCorp US 13185.2 Banks 481 Bouygues France 13172.5 Construction & building materials 482 Talisman Energy Canada 13139.0 Oil & gas 483 Woolworths Australia 13099.1 Food & drug retailers 484 Pinault-Printemps-Redoute France 13095.2 General retailers 485 Etihad Etisalat Saudi Arabia 13093.3 Telecommunication services 486 Akzo Nobel Netherlands 13065.8 Chemicals 487 Ahold Netherlands 13017.1 Food & drug retailers 488 St Jude Medical US 12992.4 Health 489 Forest Laboratories US 12983.6 Pharmaceuticals & biotechnology 490 Commerzbank Germany 12983.1 Banks 491 Cemex Mexico 12977.0 Construction & building materials 492 Public Service Enterprise US 12963.9 Electricity 493 Schering Germany 12902.5 Pharmaceuticals & biotechnology 494 H J Heinz US 12896.3 Food producers & processors 495 Gas Natural Spain 12875.9 Utilities - other 496 Woodside Petroleum Australia 12875.8 Oil & gas 497 ABB Switzerland 12865.0 Electronic & electric equipment 498 Kingfisher UK 12804.0 General retailers 499 T-Online International Germany 12787.5 Software & computer services 500 Synthes Switzerland 12783.3 Health