MEMPHIS, Tenn., March 16, 2012 /PRNewswire/ -- For the sixth 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.
"In all of our endeavors around the globe, from safety performance to environmental stewardship to running our businesses, our actions come down to one simple principle – doing the right things for the right reason. International Paper is proud to be recognized as one of the World's Most Ethical Companies for the sixth straight year," said John Faraci, Chairman and CEO of International Paper.
"Since our Company's founding in 1898, International Paper has been defined by a commitment to ethical behavior and personal integrity," said Sharon Ryan, senior vice president, General Counsel & Corporate Secretary. "At International Paper, we are accountable for all that we do and it's a culture embraced by our 70,000 employees worldwide."
This is the sixth year Ethisphere has published the WME rankings. Ethisphere reviewed hundreds of companies and evaluated a record number of applications through in-depth research and multi-step analysis, naming the companies that surpassed their industry peers to this year's World's Most Ethical Companies list. The 2012 list features companies in more than three dozen industries, including 40 companies headquartered outside the United States.
"A strong ethical foundation is a competitive advantage, and International Paper recognizes the important role corporate responsibility plays in improving its bottom line," said Alex Brigham, executive director of the Ethisphere Institute. "As more and more organizations strive for this honor each year, International Paper's inclusion as a World's Most Ethical Company for 2012 demonstrates its industry-leading commitment to ethics and dedication to integrity."
The methodology used to develop WME rankings 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 2012 World's Most Ethical Companies at http://www.ethisphere.com
About International Paper
International Paper (NYSE: IP) is a global paper and packaging company with manufacturing operations in North America, Europe, Latin America, Russia, Asia and North Africa. Its businesses include uncoated papers and industrial and consumer packaging, complemented by xpedx, the company's North American distribution company. Headquartered in Memphis, Tenn., the company employs approximately 70,000 people following the acquisition of Temple-Inland Inc. and is strategically located in more than 24 countries serving customers worldwide. International Paper net sales for 2011 were $26 billion. Temple-Inland Inc., which was acquired in February 2012, had 2011 net sales of $4 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™. The Institute's premier membership group, the Business Ethics Leadership Alliance™, is a business ethics forum that includes more than 100 leading corporations, universities and institutions that collectively leverage their experience, expertise and innovative ways to address emerging compliance challenges. More information on the Ethisphere Institute, including ranking projects and membership, can be found at ethisphere.com
SOURCE International Paper