The Diplomat
Iberdrola has been selected for the tenth consecutive year as one of the most ethical companies in the world, according to the World’s Most Ethical Companies ranking, prepared by the Ethisphere Institute, which specialises in defining standards of good business practice, the company said in a statement.
The company chaired by Ignacio Sánchez-Galán continues to be the only Spanish company in this ranking and is one of the nine companies included in the Energy and Utilities category, which also includes its subsidiary in the United States, Avangrid.
With the publication of this index, since 2007 the Ethisphere Institute has been recognising those companies that promote positive change in the global business community and that take into account the impact of their activities on their employees, customers and other stakeholders, while fostering a culture of integrity and values in their decision-making.
The companies included in this index stand out for their ethical practices, promote the highest international standards of compliance and demonstrate high levels of stakeholder engagement and commitment to transparency, diversity and inclusion.
To compile the World’s Most Ethical Companies ranking, the Ethisphere Institute analyses 200 indicators in the areas of governance, leadership and reputation, compliance, ethical culture and social and environmental impact.
In this new 2023 edition, a total of 135 companies from 19 countries and 46 productive sectors have been recognised and included in the list.
This ranking is also a key tool for investors, who take ESG (environment, society and governance) criteria into account in their decisions, according to Iberdrola.
Iberdrola’s Governance and Sustainability System is inspired by and based on a commitment to ethical principles, transparency, and leadership in the application of international best practices, and revolves around three major vectors: environmental, social, and corporate governance.
In order to give effect to the highest ethical standards established in its Governance and Sustainability System, the company has set up a compliance system that seeks to ensure that it acts in accordance with ethical principles and applicable legislation and to prevent irregular conduct of any kind, the company explains.
Iberdrola published its first Compliance System Transparency Report in 2022, making it the first Ibex 35 company to undertake a study of this nature.
“It is a further step in the company’s commitment to the implementation and continuous improvement of a robust ethics and compliance system and reaffirms a business model that respects the rights of customers, employees, shareholders and all its stakeholders in general”, it concludes.
