7 March 2013
Ethisphere has announced its 2013 list of the world’s Most Ethical Companies.
Selection reflects Ethisphere’s “Ethics Quotient”, a measurement of five elements;
- Ethics and compliance program – made up of seven criteria similar to the “6 trust elements” that the State Services agencies are expected to have in place to give traction to the code of conduct
- Reputation, leadership and innovation – determined by the extent to which the company has established an ethical track record – of responsible, transparent stewardship, demonstrating quality and innovative engagement with stakeholders.
- Governance – exhibited by systems that ensure quality oversight, governance principles and risk management.
- Corporate citizenship and responsibility – including performance in sustainability, community involvement, environmental stewardship, corporate philanthropy and workplace impact.
- Culture of ethics – shown in the way the company has an entrenched values based culture where the workforce incorporates ethical conduct in the way it works.
Companies qualifying because of a high EQ score then undergo due diligence including independent research to verify their suitability.
The closest New Zealand connection to the most ethical companies last year, was the inclusion of Westpac and ANZ among the five most ethical banks.
This year All Good Organics makes the most ethical list as a New Zealand company. Westpac has retained a place this year – being the third year in a row although other Australian companies have fallen off the list.
Ethisphere Institute is a think-tank promoting best practices in business ethics, corporate social responsibility, anti-corruption and sustainability.