Month: May 2023

Report covers recent corporate misconduct and outlines the ethics and compliance programs and practices that should be in place to mitigate risks and to drive business success 

PHOENIX, AZ, May 22, 2023 – For corporate leaders looking to avoid reputational and business failures, Ethisphere, a global leader in defining and advancing the standards of ethical business practices, has released a new report titled: Future-proofing your Ethics & Compliance Program: Insights & Data from the World’s Most Ethical Companies.

The report looks at five recent case studies in which the lack of ethics and compliance controls and practices has resulted in damaged reputations and business losses. It then highlights the data and practices of the World’s Most Ethical Companies and provides practical steps to embed business integrity throughout a business.

“Every time a company makes headlines for the wrong reasons, it has a tremendous ripple effect that is felt by innocent people,” says Ethisphere CEO Erica Salmon Byrne. “By pulling the pragmatic from the theoretical and making it accessible and attainable, this report proves how robust governance, ethics, and compliance programs foster environments in which businesses succeed and all stakeholders benefit.”

The report covers the five key areas featured in the Ethics Quotient, the 200-point evaluation framework used in the World’s Most Ethical Companies application process. Data highlights include:

• Ethics and Compliance Program: 79% of the World’s Most Ethical Companies have a Chief Ethics and/or Compliance Officer. This is particularly relevant to the recent Silicon Valley Bank collapse, in which the organization was without a Chief Risk Officer for eight key months before its demise.
• Culture of Ethics: 59% of World’s Most Ethical Companies honorees provide results of culture measurement to all employees. Transparency and a focus on ethical culture could have mitigated Major League Soccer team Real Salt Lake’s (RSL) player and fan boycotts in 2020.
• Environmental and Societal Impact: 93% of World’s Most Ethical Companies honorees regularly communicate with their third-party business partners about ESG. Setting clear guidelines and expectations with vendors about working conditions – and enforcing them — could have helped UK-based fast-fashion manufacturer Boohoo avoid a customer boycott in 2020, which caused a share price drop by 46% within a week, wiping out nearly $1.9 billion in Boohoo’s market value.
• Governance: 87% of World’s Most Ethical Companies honorees provide some form of standalone training to their Board. Instituting a Board of Directors, and ensuring it is fully equipped to provide meaningful guidance on matters such as corporate culture, business strategy, and risk management, could have been instrumental for avoiding the recent downfall of FTX—a cryptocurrency exchange run by Sam Bankman-Fried.
• Leadership and Reputation: An organizational reputation for ethical behavior depends on three things: clear and unambiguous mission, vision, and values; values-based leadership that puts words into actions; and clearly communicated proof points to uphold its social license. Following these tenets could have avoided some of the negative impacts to business at Twitter–increased service outages, sharp drops in advertising revenue, and a valuation decrease by more than half–has taken since its new leadership in October 2022.

To download the report, visit 2023 Data Insights Report – Ethisphere | Good. Smart. Business. Profit.®

Upcoming Webinar

To learn more about the findings, join a webinar on May 23^rd from 1-2 pm EDT. Register at Ethisphere.com/events.

The Ethics Premium

Organizations should take note of the practices of the World’s Most Ethical Companies. Strong ethics is good business. Ethisphere’s 2023 Ethics Index, the collection of publicly traded companies recognized as recipients of this year’s World’s Most Ethical Companies designation, outperformed a comparable index of large-cap companies by 13.6 percentage points over a five-year period. This outperformance is the result of the kinds of practices that lead a company to be on the World’s Most Ethical Companies honoree list –investments in their people, culture, and communities.

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. For more information, visit https://ethisphere.com

About the World’s Most Ethical Companies
In 2006, Ethisphere launched the World’s Most Ethical Companies® recognition program to measure and showcase the superior achievements of organizations that are committed to doing business with ethics and integrity. The process is rigorous and objective. It includes a 200-point assessment, documentation review, and research into an organization’s reputation and ethical practices. The process itself provides a way for organizations to assess their own programs against leading practices. World’s Most Ethical Companies honorees also enjoy recognition of their exceptional ethics and compliance programs. Ethisphere also broadly shares the World’s Most Ethical Companies data to help all organizations understand and improve programs. Learn more about the World’s Most Ethical Companies at WorldsMostEthicalCompanies.com.

La reconnaissance Compliance Leader Verification (CLV) de l’institut Ethisphere reconnaît les organisations qui s’engagent à mettre en œuvre et à respecter un programme d’éthique et de conformité de premier ordre.

Phoenix, AZ — Ethisphere, un chef de file mondial en matière de définition et de rehaussement des normes de pratiques éthiques dans les affaires, a annoncé aujourd’hui que SNC-Lavalin, pour la troisième année consécutive, avait obtenu la reconnaissance convoitée Compliance Leader Verification pour 2023-2024, ce qui prolonge les reconnaissances antérieures obtenues pour 2019-2020 et 2021-2022.

« Nous continuons d’être impressionnés par le programme et l’approche exemplaires de SNC-Lavalin pour enraciner l’intégrité à l’échelle de l’organisation. La société a investi des sommes importantes d’abord dans la conformité, et aujourd’hui dans les facteurs ESG, et a mis en œuvre des initiatives majeures de la plus grande qualité, consistant, entre autres, l’instauration d’une culture exigeant des cadres qu’ils communiquent fréquemment avec leurs équipes au sujet de l’éthique et de la conformité, ou encore à établir des procédures robustes de gestion des risques liés aux tiers », a déclaré Leslie Benton, vice-présidente principale et chef du contentieux adjointe, Ethisphere.

Fondée en 1911, SNC-Lavalin est une société spécialisée en gestion de projet offrant des services professionnels entièrement intégrés. Elle réalise des projets qui transforment le monde en procurant aux collectivités des occasions et des solutions de développement durable.

« Ce renouvellement de la reconnaissance Compliance Leader Verification d’Ethisphere est une récompense pour notre engagement indéfectible à respecter les normes d’intégrité les plus élevées dans la réalisation de projets et dans l’ensemble de la société. Je suis fier du travail acharné qui a été accompli pour élaborer et maintenir notre programme d’éthique et de conformité de calibre mondial, a affirmé Ian L. Edwards, président et chef de la direction de SNC-Lavalin. Nous ne devons jamais nous reposer sur nos lauriers si nous voulons continuer à gagner la confiance de nos employés et de nos parties prenantes. Notre priorité est d’adopter continuellement les pratiques exemplaires en matière d’intégrité dans nos processus et d’offrir une formation continue à nos employés, de manière à nous assurer de maintenir les normes les plus élevées dans tout ce que nous faisons. »

Le processus menant à l’octroi de la reconnaissance Compliance Leader Verification comporte un examen rigoureux du programme d’éthique et de conformité, ainsi que de la culture d’entreprise. Le processus comprend notamment le sondage de Ethics Quotient® (EQ), un questionnaire portant sur les éléments d’un programme efficace, une comparaison des pratiques du programme par rapport à celles des entreprises ayant reçu le titre de World’s Most Ethical Companies®, un examen approfondi des documents de l’entreprise ainsi que des entrevues avec des cadres supérieurs et des parties prenantes. De plus, SNC-Lavalin a choisi de mener une enquête sur la culture éthique afin d’évaluer les perceptions des employés.

Le rendement de SNC-Lavalin a été évalué selon six domaines principaux : les structures et les ressources du programme; les perceptions de la culture éthique, les normes écrites, la formation et la communication; l’évaluation des risques; la surveillance et la vérification; la mise en application; les mesures disciplinaires et celles d’encouragements.

Pour de plus amples renseignements sur la reconnaissance Compliance Leader Verification, consultez le site https://ethisphere.com/solutions/compliance-leader-verification (en anglais).

À propos d’Ethisphere

Ethisphere® est le chef de file mondial en matière de définition et de rehaussement des normes de pratiques éthiques dans les affaires qui favorisent l’image de l’entreprise, la confiance sur le marché et la réussite commerciale. Ethisphere détient une grande expertise quant à la mesure et la définition de normes d’éthique fondamentales au moyen de renseignements fondés sur des données, en vue d’aider les entreprises à améliorer leur image, ainsi qu’à mesurer et améliorer leur culture. Ethisphere souligne les meilleures réalisations d’entreprise dans le cadre de son programme de reconnaissance World’s Most Ethical Companies et soutient une communauté d’experts de l’industrie par le biais de la Business Ethics Leadership Alliance (BELA). Pour plus d’information, visitez https://ethisphere.com.

À propos de SNC-Lavalin

Fondée en 1911, SNC-Lavalin est une société spécialisée en gestion de projet offrant des services professionnels entièrement intégrés et exploitant des bureaux partout dans le monde. SNC-Lavalin lie individus, données et technologie pour façonner et réaliser des projets et des concepts de classe mondiale, et ce, en proposant des solutions novatrices complètes tout au long du cycle de vie des actifs. Notre expertise est vaste – les services-conseils, les réseaux intelligents et la cybersécurité, l’ingénierie et la conception, l’approvisionnement, la gestion de projet et de la construction, l’exploitation et l’entretien, la mise hors service et les investissements de maintien – et nous l’offrons aux clients dans quatre secteurs stratégiques, soit de l’ingénierie, conception et gestion de projet (ICGP), des infrastructures, de l’énergie nucléaire et des ressources, appuyés par notre secteur Capital. Gens déterminés. Résultats déterminants. Vous trouverez des nouvelles et des renseignements pertinents à www.snclavalin.com ou sur Twitter @SNCLavalin.

Click Here For French Version: https://ethisphere.com/ethisphere-octroie-la-reconnaissance-compliance-leader-verificationmc/

Ethisphere Recognizes SNC-Lavalin with Compliance Leader Verification™

Ethisphere’s Compliance Leader Verification (CLV) recognizes organizations with an outstanding commitment to achieving a best-in-class ethics and compliance program

Phoenix, AZ – Click here for the French version of this press release.

Ethisphere, a global leader in defining and advancing the standards of ethical business practices, announced today that SNC-Lavalin earned, for the third consecutive year, the coveted Compliance Leader Verification for 2023-2024, extending earlier verifications from 2019-2020 and 2021-2022.

“We continue to be impressed by SNC-Lavalin’s exemplary program and approach to embedding integrity across the organization. The company has made significant investments in compliance, and now ESG, and implemented major initiatives that are top notch, from building a culture requiring managers to frequently communicate with their teams on ethics and compliance, to robust third-party risk management procedures,” stated Leslie Benton, Senior Vice President and Deputy General Counsel, Ethisphere.

Founded in 1911, SNC-Lavalin is a global fully integrated professional services and project management company delivering projects that transform the world by bringing opportunities and sustainable solutions to communities.

“This renewed Compliance Leader Verification from Ethisphere is a recognition of our deep commitment to upholding the highest integrity standards in project delivery and across the company. I’m proud of the hard work that has gone into developing and sustaining our world-class ethics and compliance program,” said Ian L. Edwards, President and CEO, SNC-Lavalin. “We must never be complacent about Integrity matters if we are to continue to earn the trust and confidence of our employees and stakeholders. It’s our priority to continuously incorporate Integrity best practices into our processes and provide ongoing training to our employees, ensuring that we maintain the highest standards in everything we do.”

The Compliance Leader Verification process involves a rigorous review of an ethics and compliance program and corporate culture. It includes completing the Ethics Quotient® (EQ), a questionnaire covering the elements of an effective program; benchmarking program practices against the World’s Most Ethical Companies®; and extensive document review and interviews with executives and stakeholders.  Additionally, SNC-Lavalin chose to conduct an Ethical Culture survey to gauge employee perceptions.

SNC-Lavalin’s performance was evaluated 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.

More information about Compliance Leader Verification is available at https://ethisphere.com/solutions/compliance-leader-verification

The French version of this press release is available here.

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 and measure and improve culture. Ethisphere honors superior achievement through its World’s Most Ethical Companies recognition program and provides a community of industry experts with the Business Ethics Leadership Alliance (BELA). For further information, please visit https://ethisphere.com.

About SNC-Lavalin

Founded in 1911, SNC-Lavalin is a fully integrated professional services and project management company with offices around the world. SNC-Lavalin connects people, technology and data to help shape and deliver world-leading concepts and projects, while offering comprehensive innovative solutions across the asset lifecycle. Our expertise is wide-ranging — consulting & advisory, intelligent networks & cybersecurity, design & engineering, procurement, project & construction management, operations & maintenance, decommissioning and sustaining capital – and delivered to clients in four strategic sectors: EDPM (engineering, design and project management), Infrastructure, Nuclear and Resources, supported by Capital. People. Drive. Results. News and information are available at www.snclavalin.com or follow us on Twitter @SNCLavalin.