Panama Canal Receives Ethical Business Practices Recognition
For the third consecutive year, the Panama Canal Authority (ACP) was recognized by the Ethisphere Institute as one of the World's Most Ethical Companies. According to the Ethisphere, this recognition highlights companies that outperform industry peers by embracing ethical business practices and demonstrating industry leadership.
The 2013 World’s Most Ethical Companies list features 145 companies from 36 industries in areas including retail, business services, energy and utilities, electronics, transportation and logistics. The Panama Canal Authority was one of the two Latin American companies honored with this award. Other companies receiving this recognition included: American Express, General Electric, Holland America Line, Pepsi Co., Ford Motor Company, Nippon Yusen Kaisha and Microsoft (MSFT).
The methodology for the World's Most Ethical Companies 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.
This year’s awards coincided with the Fifth Annual Global Ethics Summit. Ethisphere hosted a dinner on the first night of the conference at the Grand Hyatt Hotel in New York on March 5 to honor and celebrate the winners.
A record number of nominations and applications this year is evidence of both the World's Most Ethical Companies' growing recognition by various stakeholder groups and companies’ desire to be recognized for their integrity standards and ethical cultures.