Volvo Cars among World’s Most Ethical Companies
Volvo Cars has been named among the World’s Most Ethical Companies.
The company was one of only four automotive representatives in an annual list first established a decade ago by the Ethisphere Institute, a global organisation devoted to defining and advancing positive business ethics.
There were 124 companies selected in total for the programme that honours businesses excelling in three areas: promoting ethical business standards and practices internally; enabling managers and employees to make good choices; shaping future industry standards by introducing tomorrow’s best practices today.
“Volvo Cars embraces policies of diversity and inclusion, is committed to ethical leadership and demonstrates the values of a true global citizen,” said Timothy Erblich, Ethisphere’s Chief Executive Officer.
“I’m very proud that Volvo Cars has been recognised as one of the world’s most ethical companies,” said Håkan Samuelsson, President and CEO of Volvo Cars. “Responsible business is a fundamental part of Volvo Cars’ heritage, and engrained in our corporate culture. An ethical approach is not just the right thing to do, but it brings financial value, too.”
Maria Hemberg, Senior Vice President Group Legal, General Counsel and Chair of Volvo Cars’ Sustainability Board, commented: “The World’s Most Ethical Company assessment process has helped us drive the continuous improvement of our Compliance & Ethics programme. This achievement is a welcome acknowledgement of our work to date in promoting ethical and responsible practices, both internally and externally.”
The Ethisphere Institute determines its annual list using its Ethics Quotient rating system, which evaluates five key areas (with variable weighting): ethics and compliance program; corporate citizenship and responsibility; culture of ethics; governance; leadership, innovation and reputation.