90% of largest companies concerned about climate change

Modified Carbon Disclosure Project

19 years ago

90% of largest companies concerned about climate change — survey

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

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