Fouad Benseddik, director of methods and institutional relations at Vigeo Eiris, said: “… we are convinced that this new index, which responds to strong market demand, will lead to even better recognition of the companies that rely on the most responsible governance systems.”

Meanwhile, Euronext’s chief executive, Anthony Attia, said aligning company interests with those of stakeholders

would create long-term value. “In socially responsible investment, extra-financial rating is considered a good indicator of company solidity and CSR performance,” he said.

A joint statement from Vigeo Eiris and Euronext said executive remuneration policies needed to improve.

It said: “The index shows that CAC 40 companies demonstrate robust performances in responsible corporate governance. Environment, Social and Governance (ESG) factors are well integrated, particularly in terms of respect for shareholders’ rights and audit and internal controls.

“The main area of vulnerability and axis for improvement is responsible executive remuneration, in particular the independence of remuneration committees, transparency on remuneration levels, and integration of objectives for mitigating CSR-related risks based on performance and progress indicators in short and long-term incentive plans.”