NEW YORK: The Ethisphere Institute has recognized eight southern New England corporations as among the most ethical in the world.
For eleven years the organization has selected using what it is explains as an “Ethics Quotient, a proprietary rating system that collects and objectively scores self-reported data in five weighted categories.”
According to the organization it “honored those companies who recognize their role in society to influence and drive positive change in the business community and societies around the world. These companies also consider the impact of their actions on their employees, investors, customers and other key stakeholders and leverage values and a culture of integrity as the underpinnings to the decisions they make each day.”
The organization’s selection are among the largest organizations in the world and this year’s list has 124 honores, nine headquartered or with significant operations in southern New England. The the 2017 World’s Most Ethical Companies® honorees’ list spans five continents, 19 countries and 52 industry sectors.
In Connecticut, The Hartford, Praxair, Xerox Corporation, The Knights of Columbus, GE and Iberdola, the Spanish Conglomerate that recently purchased UIL and formed Avantgrid. In the immediate region, Hasbro based in Providence, RI, and Mass Mutual in Springfield, Mass and Pepsico in Somers, New York also made the list.
Ethispher is hosting a Global Ethics Summit on March 15 and 16 at the Grand Hyatt Hotel in New York,
“Over the last eleven years we have seen an impressive shift in societal expectations, aggressive emergence of new laws and regulation and geopolitical swings that can further disrupt the balance. We have also seen how companies honored as the World’s Most Ethical respond to these challenges. They invest in their local communities around the world, embrace strategies of diversity and inclusion and focus on long term-ism as a sustainable business advantage. In short, these companies are transformative, not just out of need, but because they recognize that integrity is the key to their advancement,” explained Ethisphere CEO, Timothy Erblich.
The organization announcement claims that the ethical honorees perform better than other companies saying, “Ethisphere’s notion that the financial value and ethics are inexorably tied together has been explained through an analysis of how the stock price of publicly-traded 2017 honorees compare to the S&P 500 over the last two years. The analysis demonstrates a 6.4% premium.”
New Haven based Knights of Columbus has been recognized in each of the past three years.
Commenting on the recognition The Hartford's [seven year honoree] Alan Kreczko, executive vice president and general counsel said. “for more than 200 years, The Hartford has served our customers with honesty and integrity. Receiving this award for the seventh year demonstrates The Hartford’s commitment to ethical leadership.”