Panama City, Panama, March 7, 2013 – 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 Panama Canal is honored to receive this award. We strive to ensure that our business model is based on transparent and ethical values,” Panama Canal Administrator Jorge L. Quijano said. “The ACP is committed to ensuring a model of excellence, integrity and transparency in its management to contribute to the progress, development and growth of Panama and its people.”
The 2013 World’s Most Ethical Companies list features 145 companies from 36 industries in areas including retail, business services, energy and utilities, electronics, and 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.
“We are excited to see the 2013 World’s Most Ethical Companies take these leadership positions, and embrace the correlation between ethical behavior and improved financial performance,” said Alex Brigham, Executive Director of Ethisphere.
Ethisphere, a leading international think-tank dedicated to the creation, advancement and sharing of best practices in business ethics, corporate social responsibility, anti-corruption and sustainability, reviewed nominations from companies in more than 100 countries. 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. The complete list of the 2012 World’s Most Ethical Companies can be found at http://ethisphere.com/wme.
About the Panama Canal Authority (ACP)
The ACP is the autonomous agency of the Government of Panama in charge of managing, operating and maintaining the Panama Canal. The operation of the ACP is based on its organic law and the regulations approved by its Board of Directors. For more information, please refer to the ACP’s website: http://www.pancanal.com/. You can also follow us on Twitter: http://twitter.com/thepanamacanal.
About Ethisphere Institute:
The research-based Ethisphere Institute is a leading international think-tank dedicated to the creation, advancement and sharing of best practices in business ethics, corporate social responsibility, anti-corruption and sustainability. Ethisphere Magazine, which publishes the globally recognized World’s Most Ethical Companies Ranking, is the quarterly publication of the Institute. More information on the Ethisphere Institute, including ranking projects and membership, can be found at http://www.ethisphere.com.