NEW YORK, NY – illycaffè SpA (“illy”) has been recognized by the Ethisphere Institute, an independent center of research promoting best practices in corporate ethics and governance, as a 2014 World’s Most Ethical Company.
This is the second consecutive year that illy has been honored with this award, which recognizes organizations that continue to raise the bar on ethical leadership and corporate behavior.
World’s Most Ethical Company honorees understand the correlation between ethics, reputation and daily interactions with their brand and that the award belongs as much to their associates as it does to them. Illy is one of only one of two companies in the coffee industry honored this year.
“Truly, this award belongs to the people who comprise our organization across many countries, who hold themselves to the highest standards, every day,” said Andrea Illy, Chairman and CEO, illycaffè SpA.
“Our company has understood since its founding by my grandfather how ethics and profits can, and should, walk hand-in-hand. It is gratifying to see illy’s longtime commitment to the highest ethical behavior recognized by vital organizations such as The Ethisphere Institute.”
“The entire community of World’s Most Ethical Companies believe that customers, employees, investors and regulators place a high premium on trust and that ethics and good governance are key in earning it,” said Ethisphere’s Chief Executive Officer, Timothy Erblich.
“Illy joins an exclusive community committed to driving performance through leading business practices. We congratulate everyone at Illy for this extraordinary achievement.”
The World’s Most Ethical Company assessment is based upon the Ethisphere Institute’s Ethics Quotient framework.
The Ethics Quotient framework has been developed over years of effort to provide a means to assess an organization’s performance in an objective, consistent and standardized way.
The information collected provides a comprehensive sampling of definitive criteria of core competencies, rather than all aspects of corporate governance, risk, sustainability, compliance and ethics.
The Ethics Quotient framework and methodology was determined, vetted and refined by the expert advice and insights gleaned from Ethisphere’s network of thought leaders and from the World’s Most Ethical Company Methodology Advisory Panel.
Scores are generated in five key categories: ethics and compliance program (25%), reputation, leadership and innovation (20%), governance (10%), corporate citizenship and responsibility (25%) and culture of ethics (20%).
The full list of the 2014 World’s Most Ethical Companies can be found at ethisphere.com.