ETHISPHERE ANNOUNCES ILLYCAFFÈ AS ONE OF THE 2022 WORLD'S MOST ETHICAL COMPANIES, THE COMPANY'S 10th CONSECUTIVE HONOR

Recognition honors companies demonstrating exceptional leadership and a commitment to business integrity through best-in-class ethics, compliance, and governance practices

NEW YORK and TRIESTE, Italy, March 15, 2022 /PRNewswire/ -- illycaffè, a global leader in sustainable high-quality coffee, has been recognized by Ethisphere, a global leader in defining and advancing the standards of ethical business practices, as one of the 2022 World's Most Ethical Companies. 

illycaffè has been recognized for ten consecutive years and is the only Italian company being honored this year, among a total of 136 honorees recognized spanning 22 countries and 45 industries. 

"Our commitment to ethical business practices is part of the company's heritage from its beginnings, and we continue on a path of leadership for the entire coffee industry, which places ethics as an essential component of our sustainable business model," said Andrea Illy, President and Chairman of illycaffè s.p.a. "The milestone of reaching our tenth year of being recognized among the World's Most Ethical Companies following our recent certification as a B-Corp, are significant accomplishment for illy, but it is imperative that we propel forward and set our sights on accomplishing even more like carbon neutrality and being a catalyst for positive action to mitigate the impacts of climate change."  

"Today, business leaders face their greatest mandate yet to be ethical, accountable, and trusted to drive positive change," said Ethisphere CEO, Timothy Erblich. "We continue to be inspired by the World's Most Ethical Companies honorees and their dedication to integrity, sustainability, governance, and community. Congratulations to illycaffè for earning the World's Most Ethical Companies designation for a tenth consecutive year."

Methodology & Scoring
Grounded in Ethisphere's proprietary Ethics Quotient®, the World's Most Ethical Companies assessment process includes more than 200 questions on culture, environmental and social practices, ethics and compliance activities, governance, diversity, and initiatives to support a strong value chain. The process serves as an operating framework to capture and codify the leading practices of organizations across industries and around the globe.

Honorees 
The full list of the 2022 World's Most Ethical Companies can be found at https://worldsmostethicalcompanies.com/honorees.

About illycaffè
illycaffè is an Italian family business, founded in Trieste in 1933 and committed to offering the greatest coffee to the world. It produces the unique illy 100% Arabica blend made of 9 of the world's best selections of Arabica; each day more than 8 million cups are consumed in over 140 countries in the finest cafés, restaurants, hotels and in offices and homes. Thanks to its innovations, it contributes to technological advancement in the coffee sector. With the bestowing of the first "Ernesto Illy Award for quality espresso coffee" in 1991 in Brazil, illy also pioneered sharing know-how and paying a premium price for the best quality. Since 2017, through its "Ernesto Illy International Coffee Award", the company celebrates the growers of the world's best batches of sustainable coffee. Since 2013 illycaffè has regularly featured on the list of the World's Most Ethical Companies. In 2019 illy renewed its commitment to pursuing a sustainable business model combining environmental and social issues by adopting Società Benefit [benefit corporation] status and including this commitment in its by-laws. In 2021 illy was the first Italian coffee company to obtain B Corp international certification thanks to its commitment to abiding by the highest environmental and social performance standards. The company also founded its University of Coffee with the aim of fostering and spreading its culture, providing comprehensive academic and hands-on training for coffee growers, baristas and coffee lovers in order to cover every aspect of the product. Everything 'made in illy' is enhanced by beauty & art, which represent founding values of the brand, starting from its logo – designed by an artist, James Rosenquist – and including the renowned illy Art Collection, decorated by over 100 international artists. In 2020 the company was employing 1291 people and posted consolidated revenues of €446.5 million. There are 261 stores and mono-brand illy shops in more than 40 countries. In 2021 Rhone Capital became a minority shareholder of illycaffè to assist the company with its international growth.

About Ethisphere
Ethisphere^® 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 and measure and improve culture. Ethisphere honors superior achievement through its World's Most Ethical Companies recognition program and provides a community of industry experts with the Business Ethics Leadership Alliance (BELA). More information about Ethisphere can be found at: https://ethisphere.com. 

SOURCE illycaffe