Standard Chartered Named Among The World's Most Ethical Companies For Fourth Consecutive Year
Ethisphere Institute's annual rankings recognise exceptional ethical leadership across industries
Standard Chartered has been recognised by the Ethisphere Institute as one of the World's Most Ethical Companies for 2010. Out of a record number of nominations for the award, Standard Chartered secured a hard-earned spot on the list in recognition of its ongoing commitment to build a sustainable business for the benefit of customers, clients and the wider communities in which it operates.
The Ethisphere Institute commended Standard Chartered for going the extra mile, implementing upright business practices and initiatives that are instrumental to the company's success, benefit the community and raise the bar for ethical standards within the industry.
Jonathan Morris, Chief Executive Officer Standard Chartered Bahrain said, "Standard Chartered's success is rooted in our strong values-led culture. We have an unwavering commitment to run the Bank responsibly and to serve the long-term interests of our customers and clients, employees and communities. It is an honour to be recognised for the high standards which we have set and which we work to uphold everyday."
This is the fourth year that Ethisphere, a think-tank dedicated to the creation, advancement and sharing of best practices in business ethics, corporate social responsibility, anti-corruption and sustainability, has published the WME rankings.
Through in-depth research and a multi-step analysis, Ethisphere reviewed thousands of nominations from companies in over 100 countries and 36 industries in order to determine the winners.
"Standard Chartered's promotion of a sound ethical environment shines within its industry and shows a clear understanding that operating under the highest standards for business behaviour goes beyond goodwill and "lip-service" and is intimately linked to performance and profitability," said Alex Brigham, Executive Director of the Ethisphere Institute. "This year's World's Most Ethical Companies award was more competitive than ever, because companies realise that making ethics a priority is critical amidst a tough economic environment."
Brigham added, "Compliance or ethics failures add up to more than fees, fines and penalties. The leadership distraction and turnover, forced alteration of a working profit model and heightened scrutiny that result show: good ethics means better business."
The methodology for the WME ranking 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 2010 World's Most Ethical Companies at http://ethisphere.com/wme-2010.
For further information, please contact:
Nimmi Kamal
Head Corporate Affairs Bahrain, Standard Chartered Bank
Tel: +973 3977 076
E-mail: Nimmi.Kamal@sc.com
Standard Chartered - leading the way in Asia, Africa and the Middle East
Standard Chartered PLC, listed on both the London Stock Exchange and the Hong Kong Stock Exchange, ranks among the top 25 companies in the FTSE-100 by market capitalisation. The London-headquartered group has operated for over 150 years in some of the world's most dynamic markets, leading the way in Asia, Africa and the Middle East. Its income and the number of employees have more than doubled over the last five years primarily as a result of organic growth and supplemented by acquisitions.
Standard Chartered aspires to be the best international bank in its markets through leading by example to be the right partner for its stakeholders. The group now employs 73,000 people, representing 115 nationalities, in more than 1,700 branches and outlets located in over 70 countries. The bank derives more than 90 per cent of its operating income and profits from Asia, Africa and the Middle East, with balanced income derived from both Wholesale and Consumer Banking.
The group is committed to building a sustainable business over the long term and is trusted worldwide for upholding high standards of corporate governance, social responsibility, environmental protection and employee diversity. For more information, please visit: www.standardchartered.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. The Institute's associated membership group, the Ethisphere Council, is a forum for business ethics that includes over 200 leading corporations, universities and institutions. The Ethisphere Council is dedicated to the development and advancement of individuals on its membership council through increased efficiency, innovation, tools, mentoring, advice, and unique career opportunities. Ethisphere magazine, which publishes the globally recognized World's Most Ethical Companies Ranking™, is the quarterly publication of the Institute. More information on the Ethisphere Institute, including ranking projects and membership, can be found at www.ethisphere.com.