H&M, the Swedish multinational fast fashion retailer, has made it to the list of 124 companies spanning five continents, 19 countries and 52 industry sectors as the 2017 World’s Most Ethical Companies honourees. The list was announced by the Ethisphere Institute, a global leader in defining and advancing the standards of ethical business practices.
“It’s a great honour for H&M to be named one of the world’s most ethical companies. Our commitment to be ethical throughout our operations is firmly rooted in our values and key for our work to lead the change towards a sustainable fashion future,” Karl-Johan Persson, CEO at H&M was quoted as saying.
Since 2007, Ethisphere has honoured those companies that recognize their role in society to influence and drive positive change in the business community and societies around the world. 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.
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“Over the last eleven years we have seen an impressive shift in societal expectations, aggressive emergence of new laws and regulation and geopolitical swings that can further disrupt the balance. We have also seen how companies honoured as the World’s Most Ethical respond to these challenges. They invest in their local communities around the world, embrace strategies of diversity and inclusion and focus on long term-ism as a sustainable business advantage. In short, these companies are transformative, not just out of need, but because they recognize that integrity is the key to their advancement,” explained Timothy Erblich, CEO, Ethisphere.
Among the 2017 list of companies are 13 eleven-time honourees and 8 first-time honourees.