MIAMI, March 7, 2016 /PRNewswire/ -- Royal Caribbean Cruises Ltd. (NYSE, OSE: RCL), has been recognized by the Ethisphere Institute, a global leader in defining and advancing the standards of ethical business practices, as a 2016 World's Most Ethical Company®.
This year marks the tenth anniversary of Ethisphere and the World's Most Ethical Companies designation which recognizes those companies who align principle with action, work tirelessly to make trust part of their corporate DNA, and in doing so, shape future industry standards by introducing tomorrow's best practices today.
This marks the first time RCL has been recognized and is one of only two companies in the Lodging, Leisure and Recreation category underscoring their commitment to leading ethical business standards and practices.
"Tomorrow or 10 years from now, there is no substitute for doing the right thing," said Richard D. Fain, chairman and chief executive officer for Royal Caribbean Cruises Ltd. "Customers expect it, shareholders demand it, and we try to live it every day."
"Companies rely on Ethisphere to continually raise and measure the standards of corporate behavior. Those that demonstrate leadership in areas like citizenship, integrity and transparency create more value for their investors, communities, customers and employees, thus solidifying a sustainable business advantage," explained Ethisphere's Chief Executive Officer, Timothy Erblich. "Congratulations to everyone at Royal Caribbean Cruises 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 developed over years of research and vetted and refined by the expert advice from Ethisphere's World's Most Ethical Company Methodology Advisory Panel. The EQ 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 2016 World's Most Ethical Companies can be found at http://worldsmostethicalcompanies.ethisphere.com/honorees/. Best practices and insights from the 2016 honorees will be released in the form of a whitepaper and infographics over the next few months (download the 2015 insights). Organizations interested in how they compare to the World's Most Ethical Companies are invited to participate in the Ethics Quotient.
About Royal Caribbean Cruises Ltd.
Royal Caribbean Cruises Ltd. (NYSE, OSE: RCL) is a global cruise vacation company that owns Royal Caribbean International, Celebrity Cruises, Pullmantur, Azamara Club Cruises and CDF Croisieres de France, as well as TUI Cruises through a 50 percent joint venture. Together, these six brands operate a combined total of 44 ships with an additional eleven on order. They operate diverse itineraries around the world that call on approximately 480 destinations on all seven continents. Additional information can be found at www.RCLcorporate.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 Royal Caribbean Cruises Ltd.