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NEW YORK -- C-store operator Petro-Canada was recognized on the second annual World's Most Ethical Companies list, which was released recently by The Ethisphere Institute, a think-tank dedicated to the research and promotion of profitable best practices in governance, business ethics, compliance and corporate social responsibility.
The recipients were honored last night at an Ethisphere and Forbes joint conference, "Driving Profit Through Ethical Leadership." Other companies making the list were Wisconsin Energy Corp., General Mills, Pepsi Co., Kellogg Co., among others.
Along with Dave Steiner, CEO of Waste Management, who was named one of 2007's 100 Most Influential People in Business Ethics by the Institute, and delivered the keynote address, leaders from Google, PepsiCo, Kellogg, and American Express spoke on various panels, including Going Green and Supply Chain Sustainability; and Looking Ahead: The Future of Ethical Leadership, among others.
"We were thrilled with the wealth of knowledge and anecdotes shared at the event, and believe that they will help advance the discourse on these important ethical business topics," Alex Brigham, executive director of Ethisphere Institute, said in a released statement.
Brigham explained that researchers and analysts reviewed several thousand companies throughout the duration of the year. The process included reviewing the companies' 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; studying nominations from senior executives, industry peers, suppliers and customers; and working with consumer action groups for feedback.
"The process was rigorous, and we are confident that the organizations included in the 2008 ranking are the standouts in their industries, forcing their competitors to take a long, hard look at their own efforts -- and shortcomings," Brigham said in a released statement. "These companies make a concerted effort to ensure ethical practices remain a top business priority."
Duke Energy, Deere & Co, General Electric, Google, and McDonald's were among companies who were repeat winners from last year's inaugural list.
"We are pleased to see the dedication and commitment from such a diverse set of companies that demonstrate continual ethical leadership," Stephen Martin, editor-in-chief of Ethisphere Magazine, said in a released statement. "These companies consistently demonstrate that doing business the right way -- ethically -- can have a sustainable, positive impact on their performance and brand."