New York, NY – February 26, 2019 – illycaffè S.p.A., the global coffee industry leader in quality, direct trade and ethical supply chain practices, has been recognized by the Ethisphere Institute, a global leader in defining and advancing the standards of ethical business practices, as one of the 2019 World’s Most Ethical Companies.
illycaffè has been recognized for the past seven years, is one of only three honorees in the Food, Beverage & Agriculture industry, and the only company from Italy to receive the distinction of The 2019 World’s Most Ethical Companies by Ethisphere. Ethics are a core value for illy, which focuses on creating and sharing superior stakeholder value over time through its commitment to improvement, transparency, sustainability, and people development.
In 2019, 128 honorees were recognized spanning 21 countries and 50 industries. The thirteenth class of honorees profoundly illustrate how companies continue to be the driving force for improving communities, building capable and empowered workforces, and fostering corporate cultures focused on ethics and a strong sense of purpose
“Ethics are essential to the long-term sustainability of any organization, which is not built overnight, but as a core value that is aligned with measurable commitments and actions”, said Andrea Illy, chairman of illycaffè S.p.A. and author of A Coffee Dream and Espresso Coffee: The Science of Quality. “The role of the private sector is key to creating a sustainable society, of which companies represent the building blocks. If we want a better society for the next generations, we need to start from better companies. We are proud to be recognized by The Ethisphere Institute and thank them for their continued role in recognizing ethics leadership and building a community that advances ethical business practices.”
“Today, employees, investors and stakeholders are putting their greatest trust in companies to take leadership on societal issues. Companies that take the long view with a purpose-based strategy are proven to not only outperform but last,” said Ethisphere’s Chief Executive Officer, Timothy Erblich. “I congratulate everyone at illycaffè for earning this recognition.”
Methodology & Scoring
The World’s Most Ethical Companies assessment is based upon the Ethisphere Institute’s Ethics Quotient® (EQ) framework, which offers a quantitative way to assess a company’s performance in an objective, consistent and standardized manner. 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 percent), culture of ethics (20 percent), corporate citizenship and responsibility (20 percent), governance (15 percent) and leadership and reputation (10 percent). All companies that participate in the assessment process receive their scores, providing them with valuable insights into how they stack up against leading organizations.
The full list of the 2019 World’s Most Ethical Companies can be found at https://worldsmostethicalcompanies.com/honorees.
Best practices and insights from the 2019 honorees will be released in a report and webcast in March and April of this year. Sign up to receive the report.
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