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The Ethisphere Institute is a for-profit company that, for a fee, defines and measures corporate ethical standards, recognizes companies that do well in those stated metrics, and promotes best practices in corporate ethics.[1] The company is located in Scottsdale, Arizona.
| Company type | Private (for-profit) |
|---|---|
| Founded | 2007 |
| Founder | Alex Brigham |
| Headquarters | Scottsdale, Arizona |
| Website | ethisphere |
The company publishes Ethisphere Magazine and announces its World's Most Ethical Companies award once a year. The company also offers verification services for corporate ethics under such names as "Ethics Inside Certification" and "Compliance Leader Verification".[citation needed] It hosts the Global Ethics Summit every March in New York City and manages a community of compliance, ethics and legal professionals known as BELA, the Business Ethics Leadership Alliance.[2]
Operations
editThe Executive Chairman of Ethisphere, Alex Brigham, created the institute in 2007, as part of Corpedia, a compliance training company.[3] In 2010, Corpedia was sold but Ethisphere's ownership was retained by Brigham.
Criticism
editEthisphere has been criticized for its business model and the possible conflict of interest created when other companies pay for an assessment.[4][1] Ethisphere assesses companies based on self-reported data and a survey.[1][5][6] Companies dubbed "most ethical" by Ethisphere include Eastman Chemical and Blue Shield of California, despite the involvement of both in major public scandals at the time.[5] Ethisphere also awarded Elbit Systems of America, a branch of a large Israeli weapons manufacturer that has been widely protested for its role in the Israel–Hamas war, with the title of "one of the World's Most Ethical Companies".[7] Some companies that are recognized often advertise for Ethisphere and pay additional licensing fees for the right to use the year-specific World’s Most Ethical Companies logo.
References
edit- ^ a b c Evans, Will (19 March 2010). "Beware of corporate consulting firms offering awards for corporate ethics". Slate Magazine. Retrieved 8 February 2022.
- ^ DiPietro, Ben. "What Matters More: Focusing on Rules or Creating Ethical Culture?". WSJ.
- ^ Normore, Anthony (8 March 2019). Handbook of Research on Strategic Communication, Leadership, and Conflict Management in Modern Organizations. IGI Global. ISBN 9781522585176. Retrieved 14 April 2020.
- ^ Schwartz, Arthur J. (13 May 2016). "A closer look at the 'most ethical' company rankings". Philadelphia Business Journal. Retrieved 8 February 2022.
- ^ a b Lazarus, David (27 October 2014). "The ethics of firms paying to be honored for ethics". Los Angeles Times. Retrieved 8 February 2022.
- ^ McEachran, Rich (3 September 2013). "Ethical awards: green wash or genuinely recognising sustainability?". The Guardian. Retrieved 8 February 2022.
- ^ McAllen, Jess (2024-03-14). "The Dubious Ethics of "the World's Most Ethical Companies"". ISSN 0027-8378. Retrieved 2024-10-08.
Reinert, Sue (August 28, 2024). "Elbit, company that was protested weekly, confirms it is moving out of Cambridge". Cambridge Day. Retrieved September 10, 2024.
"Investor Overview March 2024" (PDF). Elbit Systems. December 31, 2023. Retrieved September 10, 2024.