The presence of CNH Industrial shares in the portfolios of Socially Responsible Investors (SRI), i.e., those who integrate standard financials with environmental, social and governance considerations, is a clear index of appreciation of the Company’s commitment to sustainability. As at 30 November 2013, 5.12%of CNH Industrial’s free float1 was held by 32 asset owners and by 30 socially responsible mutual funds . This percentage, lower than in May 2013 (6.01%)5, was slightly above the figure reported in the same period of 2012 (4.72%) .
It should be noted that CNH Industrial’s free float recorded an increase in the second half of 2013: the value calculated considering a steady trend in float shares as at 30 November was in fact equal to 5.65%.
CNH Industrial’s result is lower by about one percentage point than the benchmark, consisting of an average of SRI investor holdings calculated on five companies (CNH Industrial plus four of its competitors). However, CNH Industrial ranked second, because the score of the top ranking company was so high that it significantly raised the average.
CNH INDUSTRIAL’S PRESENCE IN SUSTAINABILITY INDEXES
(1) Free float: percentage of shares remaining after block ownership and restricted shares adjustments, as calculated by STOXX Ltd. cfr.http://www.stoxx.com/download/indices/rulebooks/stoxx_indexguide.pdf Block ownership is defined as the sum of all holdings larger than 5% - held by companies, governments, families and private investors, but excluding those by investment companies and funds - that have to be reported to the domestic regulatory agencies.