Rawlplug listed on Warsaw Stock Exchange RESPECT Index
On 18 December 2014, Rawlplug (RWL) was officially added the RESPECT Index – an index of companies recognised as being socially responsible by the Warsaw Stock Exchange (WSE).
What is the RESPECT Index?
The RESPECT Index is a Warsaw Stock Exchange (WSE) initiative that began in 2009 and is the first index in Central Eastern Europe that specifically recognises and identifies companies with strong CSR credentials. Recognition in the form of listing on the RESPECT Index is a highly prestigious achievement – Rawlplug was one of just 24 companies to be included on the eighth edition of the index and joins some of the most illustrious and well known companies operating in Poland.
What does it take to be listed on the RESPECT Index?
The RESPECT Index applies to the Warsaw Stock Exchange and any company considered must be listed on this exchange.
When evaluating candidate companies, the RESPECT Index looks at the sustainability of operations and the strength of its corporate responsibility credentials. Within this, the RESPECT Index evaluates environmental credentials, the relationship between the company and the community it inhabits, and the way employees are treated.
The three phases of evaluation
Candidate companies are evaluated in three phases. These are:
Phase 1: Identification of those companies with the highest levels of financial liquidity. The main indexes – WIG20, mWIG40 and sWIG80 – are all periodically reviewed to identify these companies.
Phase 2: Evaluation of the candidate company’s operations, with a specific focus on Corporate Governance, investor relations and quality of communication and publicly available content.
This evaluation is conducted by the Warsaw Stock Exchange together with the Polish Association of Listed Companies (Stowarzyszeniem Emitentów Giełdowych – SEG). It considers whether any sanctions or penalties have been levied against the company, and then looks at the accuracy, frequency, availability and quality of content, such as financial reports, announcements relating to management structure and responses to investor queries. The evaluation also looks at sources such as corporate websites and evaluates the extent to which they comply with Warsaw Stock Exchange expectations and those most likely to relevant to investors.
Phase 3: Focuses on the operations of the company, the extent to which they can be considered sustainable and also the way the company understands CSR and applies it to its operations.
This process involves the completion of an application questionnaire by the candidate company and the subsequent verification and analysis by Deloitte, the independent auditor appointed by the Warsaw Stock Exchange.
During this third and final phase, three key criteria are examined:
- Environmental (Environment management, demonstrable reduction of environmental impact, biodiversity and the environmental credentials of the products and services offered by the candidate company).
- Social (Health & Safety, relationships with suppliers, dialogue with key stakeholders and shareholders, and reporting)
- Governance and Economic Indicators (strategic management, code of conduct, risk management, fraud risk management, internal auditing and control, and approach to client relationships).
The Index is reviewed and modified every six months.
Rawlplug’s listing on the Warsaw Stock Exchange (WSE) RESPECT Index is hugely important for our vision of a Sustainable Rawlplug. Sustainability and Socially Responsibility run through every aspect of our business and affect the way we behave as individuals and as a company. Being listed on the Warsaw Stock Exchange RESPECT Index is formal recognition that our sustainability efforts and social responsibility credentials are relevant to potential investors. With the criteria being so strict and relating to so many different aspects and levels of the business, the listing is a source of great pride and demonstrates that sustainability and social responsibility are present in every aspect of the way we do business. Our intention is to be present on the RESPECT Index for many years to come.
Find out more
More information can be found on the official WSE webpage of the RESPECT Index.
The WSE confirmation of Rawlplug’s inclusion on the RESPECT Index, along with the summary of the audit of candidate companies conducted by Deloitte.