NEW YORK, March 7, 2016 /PRNewswire/ -- illycaffè SpA, the world's leader in responsibly sourced coffee, 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.
Illy has now been recognized as a World's Most Ethical Company for four consecutive years. The company is one of only four honorees in the Food, Beverage and Agriculture category for 2016, and the only Italy-based honoree.
"To be named by Ethisphere as a World's Most Ethical Company for a fourth consecutive year is an honor, and validation of illy's longstanding commitment to all stakeholders within our value chain, from farmer to customer," said Andrea Illy, Chairman and CEO of illycaffè SpA. "Striving for the highest ethical standards is central to our values and operating model, and has set in motion a virtuous cycle that is essential to realizing our dream to offer the best coffee in the world."
"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 illy or 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.
illycaffè was founded in Trieste in 1933; the company manufactures and markets a unique blend of 100% Arabica espresso coffee and is the leading brand in top quality coffee. illycaffè was an official partner of Expo 2015, creating and managing the content, exhibits and events centered on coffee in the common area of the Expo Coffee Cluster. Almost 7 million cups of illy coffee are consumed daily throughout the world. illy coffee is sold in more than 140 countries and is served in over 100,000 of the world's finest restaurants and cafés. The monobrand illy shops are about 230 in 43 countries.
The company established and runs the Coffee University with a view to fostering and spreading the culture of coffee; this center of excellence provides comprehensive academic and hands-on training for coffee growers, baristas and fans covering every aspect of the product. The company has approximately 1,084 people on its global payroll, and in 2014 posted consolidated revenues of €391 million. illy purchases green coffee beans directly from growers of the highest quality Arabica, based on partnerships underpinned by the principles of sustainable development. From its Trieste headquarters, the company encourages long-term partnerships with the world's best growers in Brazil, Central America, India and Africa, sharing know-how and technology and paying higher than market compensation. www.illy.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.