Only five Asian firms were deemed sufficiently virtuous to be placed on this year’s ‘World’s Most Ethical Companies List’. Compiled by American think tank Ethisphere, the unranked list of 124 firms considers company performance based on five areas. They are: ethics and compliance, corporate citizenship and responsibility, culture of ethics, governance and leadership, innovation and reputation.
India’s Tata Steel Corporation and technology giant Wipro were among those 124 global brands listed. Singtel, Japanese chemical and cosmetics company Kao Corporation and Hong Kong-based merchandise-sourcing company William E. Connor made up the rest of the Asian firms.
The United States accounted for 98 of the companies listed. A further 17 brands came from Europe, including four from the United Kingdom, three from France and two each from Ireland and Sweden. Companies from Belgium, Italy, Poland, Portugal, Spain and Switzerland made up the remaining European numbers.
Firms from Australia, Canada, Guatemala and – for the first time – Mexico make up the final four countries featuring on the 124-strong list. Brands said to have a moral compasses – thereby making it onto the list – included household names such as Colgate-Palmolive, the Kellogg Company, L’Oréal, Microsoft and PepsiCo.
Ethisphere CEO Timothy Erblich said: “Over the last 11 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 honoured 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.”