The recognition by the Ethisphere Institute demonstrates ABB’s long-term commitment to ethical and transparent business practices.
Zurich, Switzerland, March 7, 2016 - ABB has been named one of the World's Most Ethical Companies® for the fourth consecutive year by the Ethisphere Institute, a global leader in defining and advancing the standards of ethical business practices.
The list of the World's Most Ethical Companies honors organizations that foster a culture of ethics and transparency at every level.
"Integrity is one of ABB's core values and we have made good progress every year even though it is an area that requires continuous attention. We are proud to be named one of the most ethical companies for the fourth year in a row," said ABB CEO Ulrich Spiesshofer. "I would like to thank all of our employees for their commitment and for assuring that our services, operations and daily business are conducted with the highest level of integrity."
"At ABB we think of Integrity as a call for continuing action. Our culture is aimed at "Don't look the other way" and we have combined Safety and Integrity as an individual and team indicator for performance," said Diane de Saint Victor, ABB General Counsel and member of the Executive Committee. "We are pleased to be a part of this year's list of honorees - knowing we have to earn it every day and in everything we do globally."
The World's Most Ethical Company assessment is based on 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.
"For over 125 years ABB has been a pioneer in technology, placing tremendous value on innovation and quality, and high expectations on its partners and suppliers," said Ethisphere's Chief Executive Officer, Timothy Erblich. "This, coupled with its dedication to Corporate Social Responsibility, creates a sustainable business advantage and value for its stakeholders. Congratulations to everyone at ABB for being recognized as a 2016 World's Most Ethical Company."
The full list of the 2016 World's Most Ethical Companies can be found at http://worldsmostethicalcompanies.ethisphere.com/honorees
ABB (www.abb.com) is a leading global technology company in power and automation that enables utility, industry, and transport & infrastructure customers to improve their performance while lowering environmental impact. The ABB Group of companies operates in roughly 100 countries and employs about 135,000 people.
The Ethisphere® Institute is the global leader in defining and advancing the standards of ethical business practices that fuel corporate character, marketplace trust and business success. Ethisphere has deep expertise in measuring and defining core ethics standards using data-driven insights that help companies enhance corporate character. Ethisphere honors superior achievement through its World's Most Ethical Companies® recognition program, provides a community of industry experts with the Business Ethics Leadership Alliance (BELA) and showcases trends and best practices in ethics with the publication of Ethisphere magazine. More information about Ethisphere can be found at www.ethisphere.com.