L’Oréal, Shiseido named among the world’s most ethical companies

The Ethisphere Institute, a global leader in defining and advancing the standards of ethical business practices, this week revealed its honorees for the title of  2016 World’s Most Ethical Company. This year, 131 companies, spanning 21 countries and five continents and representing over 45 industries, made the list, including France’s L’Oréal, a seven time winner.

“The World’s Most Ethical Companies recognizes organizations who align principle with action, work tirelessly to make trust part of their corporate DNA, and in doing so, shape future industry standards by introducing tomorrow’s best practices today. Being an honoree for the seventh time underscores L’Oréal’s commitment to leading ethical business standards,” said L’Oreal in a statement.

Jean-Paul Agon, L’Oreal Chairman and CEO, commented: “We are honored to receive this recognition by Ethisphere, it will be a source of pride for all L’Oréal employees. Over the last 10 years, we have seen growing expectation for companies to behave ethically. The next 10 years will see Ethics becoming no longer a ‘nice to have’ but a fundamental prerequisite to any organization’s license to operate. Forcompanies who are leaders in this area, it will become a competitive advantage.”

Among other beauty & personal care companies honored were  Natura Cosméticos (Brazil), Kao Cosmetics and Shiseido (Japan), and Colgate-Palmolive (USA).

The Ethispher program honors companies that excel in three areas – promoting ethical business standards and practices internally, enabling managers and employees to make good choices, and shaping future industry standards by introducing tomorrow’s best practices today. Now in its 10th year, the Ethisphere list includes 14 ten-time honorees and 13 first-time honorees.