3M, a global leader in science and innovation, has been recognised as one of the world’s most ethical companies for the seventh consecutive year by the Ethisphere Institute, the global leader in defining and advancing standards of ethical business practices. 3M, which established its Indian operations in Bangalore in 1988, is one of only eight industrial businesses worldwide to be honoured this year.
3M is among 132 companies representing 51 industries from across 21 countries who have earned their place in the coveted list. Ethisphere’s assessment evaluates companies in five categories: ethics and compliance, culture of ethics, corporate citizenship and responsibility, governance, and leadership and reputation.
Ramesh Ramadurai, Managing Director of 3M India, said “Establishing and maintaining a culture of trust, reliability and cooperation has been one of the key factors behind our success as an organisation. We are honoured to be listed among the world’s most ethical companies for the seventh consecutive year and see this as a testament to our longstanding commitment towards making the right decisions every day. As a company driven by its people and purpose, this recognition is a collective achievement for every 3M employee in India and across the world.”
3M’s Code of Conduct is part of 3M’s values and is viewed as a competitive advantage. It is an integral factor in 3M’s high reputation among consumers and across many industries. 3M leaders create and promote a workplace environment where compliance and ethical business conduct are expected and encouraged through leading by example.
“This is truly a time to celebrate incredible achievements. When we initiated the World’s Most Ethical Companies recognition in 2007, the concept of companies proactively aligning profits and purpose seemed unlikely. However, leading CEOs and organizations continue to prove our long-held hypothesis that conducting ethical business is the key to maximizing profits,” explained Ethisphere CEO, Timothy Erblich. “In addition to congratulating all 2020 honourees, we commend their commitment to continuous improvement and raising the collective bar for all companies.”
Upon evaluation in the assessment, all participating companies receive an Analytical Scorecard, which benchmarks their performance against that of leading global organizations.