NEW YORK, U.S. – illycaffè SpA, a world’s leader in responsibly sourced coffee, has been recognized by the Ethisphere Institute, a global leader in defining and advancing the standards of ethical business practices, as a 2016 World’s Most Ethical Company®.
This year marks the tenth anniversary of Ethisphere and the World’s Most Ethical Companies designation, which recognizes those companies who align principle with action, work tirelessly to make trust part of their corporate DNA, and in doing so, shape future industry standards by introducing tomorrow’s best practices today.
Illy has now been recognized as a World’s Most Ethical Company for four consecutive years. The company is one of only four honorees in the Food, Beverage and Agriculture category for 2016, and the only Italy-based honoree.
“To be named by Ethisphere as a World’s Most Ethical Company for a fourth consecutive year is an honor, and validation of illy’s longstanding commitment to all stakeholders within our value chain, from farmer to customer,” said Andrea Illy, Chairman and CEO of illycaffè SpA.
“Striving for the highest ethical standards is central to our values and operating model, and has set in motion a virtuous cycle that is essential to realizing our dream to offer the best coffee in the world.”
“Companies rely on Ethisphere to continually raise and measure the standards of corporate behavior. Those that demonstrate leadership in areas like citizenship, integrity and transparency create more value for their investors, communities, customers and employees, thus solidifying a sustainable business advantage,” explained Ethisphere’s Chief Executive Officer, Timothy Erblich.
“Congratulations to everyone at illy or being recognized as a World’s Most Ethical Company.”
Methodology & Scoring
The World’s Most Ethical Company assessment is based upon the Ethisphere Institute’s Ethics Quotient™ (EQ) framework developed over years of research and vetted and refined by the expert advice from Ethisphere’s World’s Most Ethical Company Methodology Advisory Panel.
The EQ offers a quantitative way to assess a company’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.
Scores are generated in five key categories: ethics and compliance program (35%), corporate citizenship and responsibility (20%), culture of ethics (20%), governance (15%) and leadership, innovation and reputation (10%) and provided to all companies who participate in the process.
The full list of the 2016 World’s Most Ethical Companies can be found at http://worldsmostethicalcompanies.ethisphere.com/honorees/.
Best practices and insights from the 2016 honorees will be released in the form of a whitepaper and infographics over the next few months (download the 2015 insights). Organizations interested in how they compare to the World’s Most Ethical Companies are invited to participate in the Ethics Quotient.