Ethisphere Institute singles the group out for the eighth time
France L’Oreal has been recognised by the Ethisphere Institute, a specialist in defining and advancing ethical business practices, as a 2017 World’s Most Ethical Company.
The group has been selected for the eighth time and is one of only two winners from the health and beauty industry.
“Culture is the foundation of a highperforming, innovative, and sustainable company” said Jean-Paul Agon, chairman and CEO of L’Oreal.
Emmanuel Lulin, senior vice-president and chief ethics officer at L’Oreal, described ethics as “the new decisionmaking framework”. “We are convinced that a strong culture of integrity is an essential component for long-term success,” he said.
Ethisphere has picked out ethical companies for more than a decade, honouring those that “recognise their role in society to influence and drive positive change, consider the impact of their actions on their employees, investors, customer,s and other key stakeholders, and use their values and culture as an underpinning to the decisions they make every day”.
“Over the last 11 years we have seen the shift in societal expectations, constant redefinition of laws and regulations and the geo-political climate,” said CEO Timothy Erblich. “We have also seen how companies honoured as the World’s Most Ethical respond to these challenges. They invest in their local communities around the world, embrace strategies of diversity and inclusion, and focus on long termism as a sustainable business advantage.”
The World’s Most Ethical Company assessment is based upon scores generated in five key categories: ethics and compliance programme (35%), corporate citizenship and responsibility (20%), culture of ethics (20%), governance (15%) and leadership, innovation, and reputation (10%).
The full list of the 2017 World’s Most Ethical Companies can be found at http://worldsmostethicalcompanies.ethisphere.com/honorees/.