NEW YORK – Illycaffé SpA has been recognized by the Ethisphere Institute, the global leader in defining and advancing the standards of ethical business practices, as a 2015 World’s Most Ethical Company.
The World’s Most Ethical Companies designation recognizes those organizations that have had a material impact on the way business is conducted by fostering a culture of ethics and transparency at every level of the company.
Being a third-year honoree underscores illy’s commitment to leading ethical business standards and practices ensuring long-term value to key stakeholders including customers, employees, suppliers, regulators and investors.
Illy is one of only two companies in the coffee industry this year.
“Receiving this award from The Ethisphere Institute exemplifies our company’s effort to pursuing the highest ethical standards, which has been at the foundation of illycaffé since its establishment over 80 years ago by my grandfather,” said Andrea Illy, Chairman and CEO, illycaffé SpA.
“This award would not be possible without the people who help define and drive our organization, from our growers, to our colleagues and our customers. We’re deeply rooted in a commitment to caring for our extended family, who share and live our values, every day.”
“The World’s Most Ethical Companies embrace the correlation between ethical business practice and improved company performance.
These companies use ethics as a means to further define their industry leadership and understand that creating an ethical culture and earning the World’s Most Ethical Companies recognition involves more than just an outward facing message or a handful of senior executives saying the right thing,” said Ethisphere’s Chief Executive Officer, Timothy Erblich.
“Earning this recognition involves the collective action of a global workforce from the top down. 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 (EQ) framework developed over years of research 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 EQ framework and methodology is 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 (35%), corporate citizenship and responsibility (20%), culture of ethics (20%), governance (15%) and leadership, innovation and reputation (10%).
The full list of the 2015 World’s Most Ethical Companies can be found at http://ethisphere.com/worlds-most-ethical/wme-honorees/.
Senior executives of honorees contribute high-level insights and best practices to the well-regarded World’s Most Ethical Companies Executive Briefing (download Volume 2 here). Additional insights gleaned from the World’s Most Ethical Companies will be released in a series of whitepapers and infographics over the coming months (download the 2014 Insights). Organizations interested in how they compare to the World’s Most Ethical Companies are invited to learn more about benchmarking services.