NEW YORK, Feb. 13, 2018 /PRNewswire/ -- illycaffè S.p.A., the Trieste, Italy-based global coffee industry leader in quality, direct trade and ethical supply chain practices, has been recognized by the Ethisphere Institute, a global leader in defining and advancing the standards of ethical business practices, as one of the 2018 World's Most Ethical Companies.
illycaffè was named to Ethisphere's bellwether list for a sixth consecutive year, and among just a very small handful of honorees in the beverage industry, underscoring the company's achievement in leading with integrity and prioritizing ethical business practices.
In 2018, 135 honorees are recognized, spanning 23 countries and 57 industries. The twelfth class of honorees had record levels of involvement with their stakeholders and their communities around the world. Measuring and improving culture, leading authentically and committing to transparency, diversity and inclusion were all priorities for honorees.
"Ethics are a fundamental value at illy and focused on building long-term value through transparency, sustainability and personal development. Sustainability in every aspect of our business drives our pursuit to offer the greatest coffee to the world," said Andrea Illy, chairman of illycaffè S.p.A and author of Espresso Coffee: The Science of Quality. "We are very proud to be named among The World's Most Ethical Companies and to be recognized for advancing ethical business practices in our industry."
"While the discourse around the world changed profoundly in 2017, a stronger voice emerged. Global corporations operating with a common rule of law are now society's strongest force to improve the human condition. This year we saw companies increasingly finding their voice. The World's Most Ethical Companies in particular continued to show exemplary leadership," explained Ethisphere's CEO, Timothy Erblich. "I congratulate everyone at illycaffè for being recognized as one of the World's Most Ethical Companies."
Ethics & Performance
Once again, the 2018 World's Most Ethical Companies have proven that operating with integrity leads to greater financial performance. Research has found that, when indexed, listed World's Most Ethical Companies outperformed the U.S. Large Cap Index over five years by 10.72 percent and over three years by 4.88 percent. Ethisphere refers to this as the Ethics Premium.
Methodology & Scoring
The World's Most Ethical Companies 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 manner. 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 percent), corporate citizenship and responsibility (20 percent), culture of ethics (20 percent), governance (15 percent) and leadership, innovation and reputation (10 percent). All companies that participate in the assessment process receive their scores, providing them with valuable insights into how they stack up against leading organizations.
The full list of the 2018 World's Most Ethical Companies can be found at https://worldsmostethicalcompanies.com/honorees
Best practices and insights from the 2018 honorees will be released in a report and webcast in March and April of this year. Sign up to receive the report.
illycaffè is an Italian family business, founded in Trieste in 1933 and committed to offering the greatest coffee to the world. illy is the world's most global coffee brand, producing the unique illy 100% Arabica blend made of 9 of the world 's best selections of Arabica; each day more than 7 million cups are served in over 140 countries in the finest cafés, restaurants, hotels and in offices and homes. illy has become the standard forerunner of espresso, and thanks to three critical innovations, is considered the leader in the science and technology of coffee. With the bestowing of the first "Ernesto Illy Award for quality espresso coffee" in 1991 in Brazil, illy also pioneered direct sourcing, sharing know-how and paying a premium price for the best quality, based on partnerships underwritten by the principles of sustainable development. The company also founded the 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, comprised of over 100 cups designed by international artists. In 2016 the company employed 1,269 people, and posted consolidated revenues of €460 million. There are approximately 230 stores and mono-brand illy shops in 43 countries.
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 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.
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