Eastman Named One of the World's Most Ethical Companies® by the Ethisphere Institute for the Fifth Time

Eastman Named One of the World's Most Ethical Companies® by the Ethisphere Institute for the Fifth Time
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www.eastman.com
Recognition honors Eastman’s commitment to operate with purpose and lead with integrity.

Eastman announced today it has been recognized by the Ethisphere Institute, a global leader in defining and advancing the standards of ethical business practices, as one of the World’s Most Ethical Companies® for the fifth consecutive year. The prestigious honor underscores Eastman’s commitment to leading with the highest ethical business standards and practices.

“We are honored to be recognized among the World’s Most Ethical Companies again this year,” said Chairman and CEO Mark Costa.

“At Eastman, we understand that, to be successful and fulfill our purpose of enhancing the quality of life in a material way, we must build trust and confidence with all of our stakeholders – employees, customers, communities, investors, and suppliers. As we continuously look for innovative ways to create value for these stakeholders, our global team is committed to conducting business with honesty and integrity every day. This award is a testament to that commitment.”

Eastman has a number of policies and initiatives in place that allow its team members to cultivate a culture of integrity and ethical standards. The company has an Office of Global Business Conduct, led by Eastman’s chief legal and sustainability officer, which establishes the Code of Business Conduct.

The Code outlines the laws, principles and guidelines all employees follow regarding honesty, integrity and responsible corporate behavior.

Regular training on the Code of Business Conduct is required for all employees. Additionally, the Business Conduct Helpline is a confidential, 24-hour-a-day phone service staffed by communications specialists employed by an independent, globally recognized service provider.

“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 Eastman for being recognized as one of the World's Most Ethical Companies."

 

Honorees

In 2018, 135 honorees are being recognized, spanning 23 countries and 57 industries. The twelfth class of honorees has 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 are all priorities for honorees. The full list of the 2018 World's Most Ethical Companies can be found at http://worldsmostethicalcompanies.ethisphere.com/honorees/.

 

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.

600450 Eastman Named One of the World's Most Ethical Companies® by the Ethisphere Institute for the Fifth Time glassonweb.com
Date: 13 February 2018
Source: www.eastman.com

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