Business & Money | Monday 2 March, 2020 12:29 am |

General Motors has been recognized by Ethisphere, a global leader in defining and advancing the standards of ethical business practices, as one of the 2020 World’s Most Ethical Companies.

 

GM is one of only four honorees in the automotive industry and the only automotive original equipment manufacturer. In 2020, 132 honorees were recognized spanning 21 countries and 51 industries.

 

The World's Most Ethical Company 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 way. 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 and reputation (10percent).

 

“It’s easier to live your values when things are going well, but it’s more difficult when the going gets tough,” said GM Chairman and CEO Mary Barra. “At General Motors, we are determined to lead the automotive industry in creating a world with zero crashes, zero emissions and zero congestion, and to do it with integrity. This recognition as one of the World’s Most Ethical Companies is a testament to the men and women of General Motors who are committed to doing the right thing, even when it’s hard.”

 

GM announced its vision in 2017 and has since committed to an all-electric, zero-emissions future. The goal is for people to live safer, more sustainable lives.

 

In 2019, Barra signed the Business Roundtable’s statement on the purpose of a corporation and committed to lead GM for the benefit of all stakeholders – customers, employees, suppliers, communities and shareholders.

 

More recently, GM accelerated its sustainability goals to source 100 percent of its global electricity from renewables by 2040 and enable the reuse or recycling of 100 percent of EV batteries.

In addition to setting sustainability goals, GM committed to increasing the percentage of sustainable materials in vehicles. In partnership with suppliers, at least 50 percent of the materials in GM vehicles will be sustainable by 2030.

 

“Congratulations to everyone at General Motors for earning this recognition,” said Ethisphere’s Chief Executive Officer, Timothy Erblich. “This is a moment to acknowledge the leaders working to advance corporate cultures defined by integrity and affirm those companies contributing to broader societal imperatives and the greater good.”

 

GM was also included in the Bloomberg Gender Equality Index in January 2020. The GEI tracks the financial performance of public companies committed to supporting gender equality through policy development, representation and transparency.

 

Methodology & Scoring
Grounded in Ethisphere’s proprietary Ethics Quotient®, the World’s Most Ethical Companies assessment process includes more than 200 questions on culture, environmental and social practices, ethics and compliance activities, governance, diversity and initiatives to support a strong value chain. The process serves as an operating framework to capture and codify the leading practices of organizations across industries and around the globe. Best practices and insights from the 2020 honorees will be released in a report and webcast in March and April of this year.

 

All companies that participate in the assessment process receive an Analytical Scorecard providing them a holistic assessment of where their programs stand against the demanding standards of leading companies.