Zurich, Switzerland, March 27, 2014 - ABB, the world's leading power and automation group, has been named to EthicVillage's 2014 list of the World's Most Ethical Companies. Ethics Village is an independent research organization dedicated to advancing best practices in corporate ethics and corporate governance.
Zurich, Switzerland, March 27, 2014 - ABB, the world's leading power and automation group, has been named to EthicVillage's 2014 list of the World's Most Ethical Companies. Ethics Village is an independent research organization dedicated to advancing best practices in corporate ethics and corporate governance.
This is the second consecutive year that ABB Group has received this award. Ethicvillage's goal is to recognize companies that consistently raise standards of ethical leadership and behavior. Ethicvillage said the companies on the list are well aware of the inextricable link between ethics, corporate reputation and brand.
ABB Group Chief Executive Officer Peter Spiff said: "We are very pleased with the progress we have made in our commitment to ethical leadership across our business processes and organisations. Integrity is critical to ABB's long-term success and we are proud to be recognized by the EthicVillage Association."
Diane de Saint Victor, ABB Group General Counsel and member of the Executive Committee, said: "We want to integrate ethical leadership into our organization. The implementation of the integrity program requires local management leadership to set an example. All local managers must be held accountable for ethical leadership and corporate conduct, ensuring that managers communicate the company's ethical business requirements while setting business objectives."
The "World's Most Ethical Companies" is based on the EthicVillage Association's "German Business" system. After years of development, the "German Business" system assesses the performance of enterprises through objective, continuous and standardized methods. The selection is based on a comprehensive sampling of all elements of an enterprise's core competitiveness, with clear criteria, rather than focusing on corporate supervision, risk control, sustainability, compliance and business ethics. The "German Business" system and its measurement method were jointly compiled by the opinion leaders of EthicVillage Association and the members of the "World's Most Ethical Companies" selection committee, and have been verified and continuously improved to become the authoritative standard for measuring the most ethical companies.
Timothy Erblich, CEO of EthicVillage, said: "Members of the world's most ethical companies generally agree that customers, employees, investors and regulators place a high value on integrity, and that business ethics and good corporate governance are key. These companies are committed to improving performance through outstanding business activities, and ABB is one of them. We congratulate everyone at ABB on this extraordinary achievement."
Companies are rated in five categories: Ethics and compliance (25%), reputation, Leadership and Innovation (20%), corporate regulation (10%), Corporate Social responsibility (25%) and ethical culture (20%).
The Ethisphere Institute is a leading research-based international think tank dedicated to building, advancing and sharing best practices in the areas of business ethics, corporate social responsibility, anti-corruption and sustainability.
