MEMPHIS, Tenn., March 6, 2013 /PRNewswire/ -- For the seventh straight year, International Paper (NYSE: IP) was named as one of the World's Most Ethical Companies by The Ethisphere Institute. Despite a record 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 more than 100 years ago.
"This is an important recognition that encompasses all that we do at International Paper. We are a company of substance in the more than 24 countries where we operate – and we are strengthened by the results of our employees who do the right things for the right reasons," said Chairman and CEO John Faraci.
A record number of nominations and applications this year is evidence of both the World's Most Ethical Companies' growing recognition by various stakeholder groups and companies' desire to be recognized for their integrity standards and ethical cultures. The 2013 list is the largest list since the award's inception in 2007.
"Not only did more companies apply for the World's Most Ethical Companies recognition this year than any year in the past, which demonstrates that ethical activity is an important part of many of these companies' business models, but we are also seeing more companies be proactive and create new initiatives that expand ethics programs and cultures across entire industries, such as industry-based ethics associations and other activities," said Alex Brigham, Executive Director of Ethisphere. "We are excited to see the 2013 World's Most Ethical Companies take these leadership positions, and embrace the correlation between ethical behavior and improved financial performance."
"At International Paper, we are accountable for all that we do and it's a culture embraced by our 70,000 employees worldwide," said Sharon Ryan, senior vice president, General Counsel & Corporate Secretary. "We are defined by a commitment to ethical behavior, personal integrity and these values support our compliance standards worldwide."
Through in-depth research and a multi-step analysis, Ethisphere reviewed nominations from companies in more than 100 countries and 36 industries. The methodology for the World's Most Ethical Companies includes reviewing codes of ethics, litigation and regulatory infraction histories; evaluating the investment in innovation and sustainable business practices; looking at activities designed to improve corporate citizenship; and studying nominations from senior executives, industry peers, suppliers and customers.
Read about the methodology and view the complete list of the 2013 World's Most Ethical Companies at http://ethisphere.com/wme. The World's Most Ethical Companies list will also be featured in the 2013 Quarter 1 issue of Ethisphere Magazine.
About International Paper: International Paper (NYSE: IP) is a global leader in packaging and paper with manufacturing operations in North America, Europe, Latin America, Russia, Asia and North Africa. Its businesses include industrial and consumer packaging and uncoated papers, complemented by xpedx, the company's North American distribution company. Headquartered in Memphis, Tenn., the company employs approximately 70,000 people and is strategically located in more than 24 countries serving customers worldwide. International Paper net sales for 2012 were $28 billion. For more information about International Paper, its products and stewardship efforts, visit internationalpaper.com.
About Ethisphere Institute: The research-based Ethisphere® Institute is a leading international think-tank dedicated to the creation, advancement and sharing of best practices in business ethics, corporate social responsibility, anti-corruption and sustainability. Ethisphere Magazine, which publishes the globally recognized World's Most Ethical Companies Ranking™, is the quarterly publication of the Institute. Ethisphere provides the only third-party verifications of compliance programs and ethical cultures that include: Ethics Inside® Certification, Compliance Leader Verification™ and Anti-Corruption Program Verification. More information on the Ethisphere Institute, including ranking projects and membership, can be found at http://www.ethisphere.com.
SOURCE International Paper