Ethisphere Institute again lists L’Oréal amongst world’s most ethical companies

By Simon Pitman

- Last updated on GMT

Ethisphere Institute again lists L’Oréal amongst world’s most ethical companies

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For the ninth successive year L’Oréal has been listed amongst the top most ethical companies in the world in the international organization’s 2018 World’s Most Ethical Companies, an award that is seen as setting the bar for ethical practices.

The 2018 list earmarked 135 honorees spanning 23 countries and 57 industries. L’Oréal falls within the Health and Beauty category, which included two other companies – Japan’s Kao and Brazil-based Natura.

Ethisphere recognizes companies that have stepped up their own critical process to initiate positive changes in both the business community and societies around the world.

A rise in value-based leadership

In particular, the judges noted that in 2017 they saw a significant rise in values-based leadership as an important business strategy, which Ethisphere said led to a spike in diversity and inclusion, and long-term commitment, and constructive use of a company’s voice.

“Over the last 12 years, we have repeatedly seen that those companies who focus on transparency and authenticity are rewarded with the trust of their employees, their customers and their investors,” said Ethisphere CEO, Timothy Erblich. 

“While negative headlines might grab attention, the companies who support the rule of law and operate with decency and fair play around the globe will always succeed in the lo​ng term.” 

Corporations jump in on politics

The rise of political extremes throughout the developed world in the past few years has seen several high profile incidences of large corporate entities stepping in to help give more of a a voice to minorities and groups that have been adversely affected.

“A company’s value is not measured by its sole economic performance,”​  said Jean-Paul Agon, Chairman and Chief Executive Officer of L’Oréal.

“Because L'Oréal has always strived to be a virtuous and responsible company, we have placed ethics at the heart of our strategy and daily practices. It is this approach that is recognized today by Ethisphere, and it is a source of pride for all of us.”

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