MEMPHIS, Tenn., March 13, 2017 /PRNewswire/ -- International Paper (NYSE: IP) has been recognized once again by the Ethisphere Institute, a global leader in defining and advancing the standards of ethical business practices, as a 2017 World's Most Ethical Company®. For the eleventh straight year, IP was named as one of the World's Most Ethical Companies despite a large number of global nominees. International Paper secured a spot on the list by maintaining its focus on the ethical business practices and standards that have defined the company since its inception 119 years ago.
"At International Paper, it is our vision to be among the most successful, sustainable and responsible companies in the world. Our 55,000 global employees are committed to improving people's lives, the planet and our company's performance by transforming renewable resources into products people depend on every day," said Sharon Ryan, Senior Vice President, General Counsel & Corporate Secretary. "I want to congratulate our global team for achieving this well-earned recognition."
2017 is the eleventh year that Ethisphere has honored those companies who recognize their role in society to influence and drive positive change, consider the impact of their actions on their employees, investors, customers and other key stakeholders and use their values and culture as an underpinning to the decisions they make every day.
"Over the last eleven years we have seen the shift in societal expectations, constant redefinition of laws and regulations and the geo-political climate. We have also seen how companies honored 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 term-ism as a sustainable business advantage," explained Ethisphere's Chief Executive Officer, Timothy Erblich. "Congratulations to everyone at International Paper for being recognized as a World's Most Ethical Company."
Methodology & Scoring
The World's Most Ethical Company 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 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.
The full list of the 2017 World's Most Ethical Companies can be found at http://worldsmostethicalcompanies.ethisphere.com/honorees/.
Best practices and insights from the 2017 honorees will be released in a series of infographics and research throughout the year (view or download the 2016 insights). Organizations interested in how they compare to the World's Most Ethical Companies are invited to participate in the Ethics Quotient.
About International Paper
International Paper (NYSE: IP) is a leading global producer of renewable fiber-based packaging, pulp and paper products with manufacturing operations in North America, Latin America, Europe, North Africa, Asia and Russia. We produce packaging products that protect and promote goods, and enable world-wide commerce; pulp for diapers, tissue and other personal hygiene products that promote health and wellness; papers that facilitate education and communication; and paper bags, cups and food containers that provide convenience and portability. We are headquartered in Memphis, Tenn., and employ approximately 55,000 colleagues located in more than 24 countries. Net sales for 2016 were $21 billion. For more information about International Paper, our products and global citizenship efforts, please visit internationalpaper.com.
About the Ethisphere Institute
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: http://ethisphere.com.
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SOURCE International Paper