Ethisphere's recognition honors companies demonstrating best-in-class business ethics and compliance
GENEVA, March 15, 2022 /PRNewswire/ -- Firmenich, the world's largest privately owned perfume and taste company, has been recognized as one of the 2022 World's Most Ethical Companies by Ethisphere®, a global leader in defining and advancing the standards of ethical business practices. Ethisphere honored only 136 companies in the world with this distinction in 2022. These companies stood out for their exceptional leadership and a commitment to business integrity through best-in-class ethics, compliance, and governance practices.
"Integrity and responsible business are at the core of what we do at Firmenich, and we are honored to be recognized as one of the World's Most Ethical Companies," said Firmenich CEO, Gilbert Ghostine. "Ethics is a critical component of our values and our leading Environmental, Social and Governance (ESG) performance. We hold ourselves accountable to the highest standards of ethical behavior every day, within the company and in our business relationships."
"This exceptional recognition is a tribute to all our colleagues, who strive to operate with honesty, fairness and integrity," said Firmenich General Counsel, Jane Sinclair. "Our Code of Ethics and policies have been built up over decades, to allow our colleagues to take the right decisions and present clear expectations for our business partners. We are continuing this journey and constantly raising the bar on our actions."
2022 marks the first time Firmenich has been assessed by Ethisphere. Firmenich designs its processes to advance high standards in daily operations, communicate its values, counter bribery and corruption, and ultimately promote peaceful and inclusive societies. The Group regularly engages all its colleagues and suppliers on its Code of Ethics, and on related policies including on anti-corruption, human rights and safety.
"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 Firmenich for earning the World's Most Ethical Companies designation."
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.
More details on Firmenich's approach to ethics and governance are available in its ESG Report 2021.
The full list of the 2022 World's Most Ethical Companies is available at: https://worldsmostethicalcompanies.com/honorees.
Firmenich, the world's largest privately-owned fragrance and taste company, was founded in Geneva, Switzerland, in 1895 and has been family-owned for 126 years. Firmenich is a leading business-to-business company specialized in the research, creation, manufacture and sale of perfumes, flavors and ingredients. Renowned for its world-class research and creativity, as well as its leadership in sustainability, Firmenich offers its customers superior innovation in formulation, a broad and high-quality palette of ingredients, and proprietary technologies including biotechnology, encapsulation, olfactory science and taste modulation. Firmenich had an annual turnover of 4.3 billion Swiss Francs at end June 2021. More information about Firmenich is available at www.firmenich.com.
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.