Hasbro gains ethical recognition for 3rd consecutive year
HASBRO INC. has been named to The Ethisphere Institute's 'World's Most Ethical Companies' list for the third consecutive year. National Grid was named to the list for the fourth time in the last five years.
PAWTUCKET – Hasbro Inc. once again was named to The Ethisphere Institute’s list of the “World’s Most Ethical Companies,” the third year in a row that the toy maker and entertainment producer has been recognized for business practices that embody the institute’s motto, “Good. Smart. Business. Profit.” Hasbro is the only Rhode Island-based company to be recognized by The Ethisphere Institute.
“Our commitment to conducting business responsibly and living our values runs deep throughout our global organization,” said Kathrin Belliveau, vice president of global government affairs, corporate social responsibility and compliance. “We’re proud to be recognized for our ethical leadership and corporate governance and honored to be ranked amongst the World’s Most Ethical Companies for the third consecutive year.”
The institute looks to honor companies that “not only promote ethical business standards and practices internally, they exceed legal compliance minimums and shape future industry standards by introducing best practices today,” according to its website. The independent research enterprise rates companies on its “ethics quotient,” which is reached by looking at companies in five weighted areas:
Ethics and compliance program (25 percent): How best practices are integrated into a company’s practices and then supported and monitored.
Corporate citizenship and responsibility (25 percent): Areas measured include sustainability, citizenship, community involvement, corporate philanthropy and environmental stewardship, among others, with an eye toward quality and effectiveness of efforts.
Reputation, leadership and innovation (20 percent): What is a company’s track record with regard to legal compliance, litigation and ethical track record, including examples of corporate leadership in local, national or industry initiatives to promote a series of ethical practices.
Culture of ethics (20 percent): Has a company adopted a values-based culture and supported its development in the workplace.
Governance (10 percent): Has the company developed strong corporate governance structures as defined by regulatory bodies, including the U.S. Securities and Exchange Commission.
“The entire community of World’s Most Ethical Companies believe that customers, employees, investors and regulators place a high premium on trust and that ethics and good governance are key in earning it,” said Ethisphere’s CEO, Timothy Erblich.
Hasbro was one of eight companies honored in the consumer products industry category by The Ethisphere Institute.
A number of companies with a significant local presence also were named to the list (with the industry sector), including:
CB Richard Ellis (real estate)
Eaton Corp. (industrial manufacturing)
National Grid (energy and utilities: electric)
Petco Animal Supplies Inc. (retail: specialty)
Schneider Electric SA (industrial manufacturing)
Starbucks Coffee Co. (retail: specialty)
T-Mobile USA Inc. (telecommunications services)
National Grid, which was named to the list for the fourth time in the last five years, released a statement from Damien Walsh, global head of ethics and compliance, that said in part, “How we work is as important as what we do. It allows us to build trust with the people we work with and build our reputation as an ethical company. … It also shows that we understand the connection between ethics, reputation and daily interactions with our brand.”