Month: August 2022

TVA, First Federal Agency to Earn Compliance Leader Verification

Posted on by ETHISPHERE

KNOXVILLE, Tenn. – The Tennessee Valley Authority announced today that it is the first Federal agency to earn the coveted Compliance Leader VerificationTM from Ethisphere, a global leader in defining and advancing the standards of ethical business practices. This verification validates TVA’s government-leading efforts to build an organization that is transparent with a best-in-class ethics and compliance program.

“Earning the Compliance Leader Verification designation is a high honor,” said David Fountain, TVA Executive Vice President and General Counsel. “More importantly, CLV demonstrates that TVA is fostering a culture of ethics and integrity that builds public trust as we serve the 10 million people of the Tennessee Valley.”

The CLV process involves a rigorous review of an ethics and compliance program and corporate culture. To earn the recognition, Ethisphere evaluated TVA’s performance on six key areas: program resources and structure; perceptions of ethical culture; written standards; training and communication; risk assessment, monitoring and auditing; and enforcement, discipline, and incentives.

“Congratulations to the Tennessee Valley Authority, the nation’s first federal agency to earn Compliance Leader Verification,” said Erica Salmon Byrne, President, Ethisphere. “We were particularly impressed with the program’s strong executive support, and its focus on continual improvement. We applaud the agency’s commitment to integrity.”

The Tennessee Valley Authority is a corporate agency of the United States that provides electricity for business customers and local power companies serving nearly 10 million people in parts of seven southeastern states. TVA receives no taxpayer funding, deriving virtually all of its revenues from sales of electricity. In addition to operating and investing its revenues in its electric system, TVA provides flood control, navigation and land management for the Tennessee River system, and assists local power companies and state and local governments with economic development and job creation.

About Ethisphere 

Ethisphere® is the global leader in defining and advancing the standards of ethical business practices that fuel corporate character, marketplace trust, and business success. Ethisphere has deep expertise in measuring and defining core ethics standards using data-driven insights that help companies enhance corporate character. Ethisphere honors superior achievement through its World’s Most Ethical Companies® recognition program, provides a community of industry experts with the Business Ethics Leadership Alliance (BELA), and showcases trends and best practices in ethics with Ethisphere Magazine. Ethisphere also helps to advance business performance through data-driven assessments, benchmarking, and guidance. More information about Ethisphere can be found at https://ethisphere.com. Follow us on Twitter @Ethisphere

 

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Media Contacts

Scott Fiedler, TVA Media Relations                                       Anne Walker, Ethisphere

[email protected]                                                                   [email protected]

901-414-6964

(Distributed:  Aug. 29, 2022)

Ethisphere Launches 2023 World’s Most Ethical Companies® Application Process

Posted on by ETHISPHERE

Annual recognition process opens for companies interested in showcasing their commitment to conducting business with integrity, and highlight positive impacts to communities and stakeholders

 

Phoenix, AZ – August 18, 2022 – Ethisphere, a global leader in defining and advancing the standards of ethical business practices, announces a call for applications for the 2023 World’s Most Ethical Companies recognition. Companies can start the application process by visiting www.worldsmostethicalcompanies.com.

Now in its 17th year, the annual World’s Most Ethical Companies designation honors organizations that display exceptional ethics, compliance, and governance practices.

In 2022, 136 companies received the World’s Most Ethical Companies honor, representing 45 industries and 22 countries. To view the full 2022 honoree list, visit https://www.worldsmostethicalcompanies.com/honorees/

“The World’s Most Ethical Companies continue to outperform their peers over the long term, which proves our core belief that strong ethics is good business,” said Ethisphere CEO Tim Erblich. “Every year, we see the most innovative and cutting-edge programs and practices for advancing ethics, compliance, and governance issues among our applicants, and this year will prove no different. As business leaders are increasingly tasked to lead with their values, earning World’s Most Ethical Companies honors is the most visible way to showcase the positive impact an organization makes through its commitment to a culture of accountability.”

The Application Process

For many organizations, the process itself is valuable for understanding how programs compare to leading practices, identifying gaps, and charting a path forward. The evaluation includes a 200-point Ethics Quotient® (EQ) questionnaire; review of supporting documentation; and analysis of reputation, leadership, and other factors.  Companies can start the application process by visiting www.worldsmostethicalcompanies.com.

Companies looking to learn more about this year’s application process are invited to register for the upcoming instructive webcast “World’s Most Ethical Companies: A Guide to Applying for 2023” on Tuesday, August 30, from 12 to 1 p.m. EDT. To register, visit https://ethisphere.com/event/worlds-most-ethical-companies-a-guide-to-applying-for-2023/.

Applications are evaluated along five weighted categories: governance, leadership, and reputation; ethics and compliance program; ethical culture; trust; and environmental & social impact.

Every World’s Most Ethical Companies applicant receives a report that outlines their evaluation scores as they compare to honorees, along with exclusive data insights and links to valuable resources to help improve programs.

“Leading with integrity is a must-have in today’s global business environment and being able to accurately measure and analyze the impact your ethics and compliance program makes is more important than ever,” said Michael J. Hershman, President and CEO of the Fairfax Group, co-founder of Transparency International, and member of Ethisphere’s Methodology Advisory Panel. “The World’s Most Ethical Companies application process provides companies with an excellent opportunity to benchmark their programs against the best in the world, and better understand where they excel, where they can still improve, and how they might best help to make the world more just, fair and prosperous.”

New for 2023
Each year, Ethisphere updates the Ethics Quotient questionnaire based on input from our own experts, former applicants, and others, to reflect the most current best practices, and to clarify what our team is looking for from applicants. Changes to the 2023 Ethics Quotient include new and revised questions to areas of evolving importance – from board and C-suite diversity practices, ambassador/liaison programs, and acquisition practices, to post-investigation discipline, ESG materiality and reporting practices and human rights.

Ethisphere also recently launched a new benchmarking data platform, The Sphere, which enables organizations to compare their program to current and former World’s Most Ethical Companies honorees. Benchmarking in The Sphere can be valuable for those interested in understanding the programs and practices of leading organizations and for those seeking to measure and improve programs. For more information on The Sphere, please visit https://ethisphere.com/what-we-do/the-sphere/.

The deadline to submit the completed assessment and supporting documentation is Friday, November 18, 2022, at 11:59 p.m. EST.

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About Ethisphere
Ethisphere® is the global leader in defining and advancing the standards of ethical business practices that fuel corporate character, marketplace trust and business success. Ethisphere has deep expertise in measuring and defining core ethics standards using data-driven insights that help companies enhance corporate character. Ethisphere honors superior achievement through its World’s Most Ethical Companies® recognition program, provides a community of industry experts with the Business Ethics Leadership Alliance (BELA) and showcases trends and best practices in ethics with Ethisphere Magazine. Ethisphere also helps to advance business performance through data-driven assessments, benchmarking, and guidance. More information about Ethisphere can be found at https://ethisphere.com.

Media Contact
Anne Walker
[email protected]
@Ethisphere