By Lise Alves, Senior Contributing Editor
SÃO PAULO, BRAZIL – Dow Jones has announced that Brazil’s oil giant Petrobras is no longer a part of its Dow Jones Sustainability World Index (DJSI World). The reason for the removal of the Brazilian company from the index is the widespread corruption scandal known as Operação Lava Jato (Operation Carwash).
The case has accused several former Petrobras directors, construction companies and politicians of taking million dollar bribes in exchange for contract bids. “Recent disclosure of fraud and corruption allegations at the company and its respective communication policy towards investors prompted a . . .