PHOENIX--(BUSINESS WIRE)--Avnet (NYSE: AVT), a leading global technology distributor, has been recognized as one of the 2018 World’s Most Ethical Companies by the Ethisphere® Institute, a global leader in defining and advancing the standards of ethical business practices. Avnet’s consistency in leading with purpose and integrity has now been lauded by Ethisphere for five consecutive years.
“On behalf of Avnet, I would like to express our gratitude to the Ethisphere Institute for continuing to shine the spotlight on not only the big-picture implications of supporting social, ethical and environmental causes, but the many benefits purpose-driven companies enjoy — increased profitability, highly engaged employees, more loyal customers and fruitful innovation,” said Bill Amelio, Avnet CEO. “Business leaders like myself are continually challenged with finding that sweet spot where the ideals of people, planet and profits intersect. It is not easy, but I believe that doing well by doing good is not about being perfect, but always striving to do better and to be better. That’s how I try to live my life, and it is a long-standing characteristic of Avnet’s culture that I admire and am proud to have the opportunity to support.”
Recognized each year since 2014, this award underscores the company’s commitment to prioritizing ethical business practices. Defined by equal measures of collaboration, ingenuity and integrity, Avnet’s business model, philosophy and culture serve as a benchmark inspiring engineers and makers at companies of all sizes to reach further with products and processes that promote fairness and social value.
This year, 135 honorees spanning 23 countries and 57 industries earned the designation as one of the World’s Most Ethical Companies. This class of honorees had record levels of involvement with their stakeholders and their communities around the world. Measuring and improving culture, leading authentically, and committing to transparency, diversity and inclusion were all priorities for honorees.
“While the discourse around the world changed profoundly in 2017, a stronger voice emerged. Global corporations operating with a common rule of law are now society’s strongest force to improve the human condition. This year we saw companies increasingly finding their voice. The World’s Most Ethical Companies in particular continued to show exemplary leadership,” explained Ethisphere’s CEO, Timothy Erblich. “I congratulate everyone at Avnet for being recognized as one of the World's Most Ethical Companies.”
Ethics & Performance
Once again, the 2018 World’s Most Ethical Companies have proven that operating with integrity leads to greater financial performance. Research has found that, when indexed, listed World’s Most Ethical Companies outperformed the U.S. Large Cap Index over five years by 10.72 percent and over three years by 4.88 percent. Ethisphere refers to this as the Ethics Premium.
Methodology & Scoring
The World's Most Ethical Companies assessment is based upon the Ethisphere Institute’s Ethics Quotient® (EQ) framework, which offers a quantitative way to assess a company’s performance in an objective, consistent and standardized manner. The information collected provides a comprehensive sampling of definitive criteria of core competencies rather than all aspects of corporate governance, risk, sustainability, compliance and ethics.
Scores are generated in five key categories: ethics and compliance program (35 percent), corporate citizenship and responsibility (20 percent), culture of ethics (20 percent), governance (15 percent), and leadership, innovation and reputation (10 percent). All companies that participate in the assessment process receive their scores, providing them with valuable insights into how they stack up against leading organizations.
The full list of the 2018 World's Most Ethical Companies can be found at https://worldsmostethicalcompanies.com/honorees. Best practices and insights from the 2018 honorees will be released in a report and webcast in March and April of this year.
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About the Ethisphere Institute
The Ethisphere® Institute is the global leader in defining and advancing the standards of ethical business practices that fuel corporate character, marketplace trust and business success. Ethisphere has deep expertise in measuring and defining core ethics standards using data-driven insights that help companies enhance corporate character and measure and improve culture. Ethisphere honors superior achievement through its World’s Most Ethical Companies recognition program and provides a community of industry experts with the Business Ethics Leadership Alliance (BELA). More information about Ethisphere can be found at https://ethisphere.com.
From idea to design and from prototype to production, Avnet supports customers at each stage of a product’s lifecycle. A comprehensive portfolio of design and supply chain services makes Avnet the go-to guide for innovators who set the pace for technological change. For nearly a century, Avnet has helped its customers and suppliers around the world realize the transformative possibilities of technology. Learn more about Avnet at www.avnet.com.