US institute names Tata Steel, Wipro in world's most ethical companies' list

Two Indian companies, Tata Steel and Wipro, have been named in the list of world's most ethical companies by American think tank Ethisphere Institute. Ethisphere honours those companies who recognise their role in society to influence and drive positive change in the business community and societies around the world. In 2017, there were 124 honorees spanning five continents, 19 countries and 52 industry sectors. "These companies also consider the impact of their actions on their employees, investors, customers and other key stakeholders and leverage values and a culture of integrity as the underpinnings to the decisions they make each day," Ethisphere Institute said. Wipro is one of the two information technology companies named in the list, the other being Xerox Corporation. Meanwhile, Tata Steel is also one of the two companies named in the metals, minerals & mining space. US¬based Schnitzer Steel Industries Inc is the other company in this segment. "Companies we've honored as World's Most Ethical take a novel response to the shift in societal expectations, constant redefinition of laws and regulations, and the geo¬political climate," Ethisphere's Chief Executive Officer Timothy Erblich said. The list was dominated by US¬based companies as around 98 of the 124 companies were from that country. Also, there are 13 eleven-time honorees and eight first¬time honorees in the list. Meanwhile, Ford Motor Company has been named one of the World's Most Ethical Companies for the eighth straight year. "Strong ethics and corporate citizenship are the foundation of our business philosophy, which demonstrates to our customers what we stand for as a company," Ford Motor Company Executive Chairman Bill Ford said.