An annual survey by the Ethisphere Institute has named The Westpac Group as one of the world’s most ethical companies for the fourth consecutive year.
The Westpac Group was one of only three Australasian companies represented in the list that includes global brands American Express, eBay, Ford Motor Company, Adidas, Starbucks, PepsiCo and Xerox Corporation.
The Ethisphere Institute is a leading international think tank dedicated to the creation, advancement and sharing of best practices in business ethics, corporate social responsibility, anti-corruption and sustainability.
The selection process was stringent with the Ethisphere Institute reviewing thousands of companies and evaluating a record number of applications to identify the 110 companies that were named on this year’s World’s Most Ethical Companies list.
“Each year, the competition gets more intense for the World’s Most Ethical Companies and this year was no exception with a record number of organisations vying for this distinguished honour,” said Alex Brigham, Executive Director of the Ethisphere Institute.
“As companies strive to maintain a competitive advantage, good ethics translate into better business, and better business means better bottom lines. The Westpac Group recognises the important role that principled practices play in brand reputation, which ultimately is the most valuable asset for a corporation.”
Methodology
The methodology for the WME ranking includes reviewing codes of ethics, litigation and regulatory infraction histories; evaluating the investment in innovation and sustainable business practices; looking at activities designed to improve corporate citizenship; and studying nominations from senior executives, industry peers, suppliers and customers.
You can read more about the methodology and view the complete list of the 2011 World’s Most Ethical Companies at http://ethisphere.com/worlds-most-ethical-companies-rankings/.
