The awards go to companies that, “have implemented adequate standards, systems and programs to reasonably prevent compliance failures and ethical breakdowns, but also can demonstrate the existence of a superior employee and leadership culture that promotes ethical business practices.”
The list features 38 industries and 110 companies, 36 who are new to its fifth annual incarnation. Twenty six companies dropped off the 2010 list. Other companies featured in the Food and Beverage section are PepsiCo, General Mills and Stonyfield Farm.
“As companies strive to maintain a competitive advantage, good ethics translate into better business, and better business means better bottom lines,” said Alex Brigham, executive director of the Ethisphere Institute.
“Solae recognizes the important role that principled practices play in brand reputation, which ultimately is the most valuable asset for a company. 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 organizations vying for this distinguished honor. Ethisphere congratulates Solae on being one of the World’s Most Ethical Companies for 2011.”
The extra mile
Solae paid homage to its “upright business practices and initiatives” it said went, “the extra mile” to raise standards across the food industry.
“Solae has a deep commitment to ethics in all that we do and it’s one of four core values,” said Cornel Fuerer, vice president, general counsel and chief compliance officer, Solae. “To be honored for the second year as one of the World’s Most Ethical Companies is both rewarding for what we have accomplished and motivating to continue to make ethics a priority in all aspects of our business.”
Solae earlier in the year received another Ethisphere recognition – an Ethics Inside Certification. To achieve that Solae had to demonstrate it has, “implemented adequate standards, systems and programs to reasonably prevent compliance failures and ethical breakdowns, but also can demonstrate the existence of a superior employee and leadership culture that promotes ethical business practices.”