UK and continental European companies have outstripped their US and Asian counterparts in taking a “socially responsible” approach to their business and reducing risk, according to findings based on more than 2,500 FTSE global companies by Eiris, the responsible investment research specialist. A fifth of UK companies scored A...based on environmental, social and governance issues, followed by 12 per cent of mainland European ones. But only 2 per cent of US companies and 1 per cent of Asian ones made the top grade in Eiris’s recently launched Global Sustainability Ratings. “Tighter ESG [environmental, social & governance] legislation in Europe and more public awareness...contributes to the difference in performance,” said Mark Robertson, spokesman for Eiris. “US companies are generally less engaged on many corporate social responsibility and ESG issues,” he added. The highest ranked companies among the 50 largest global businesses by market capitalisation included Novartis...and GlaxoSmithKline...while laggards included US oil and gas producers Chevron and ConocoPhillips.