Ten Thousand Villages Named World's Most Ethical Company by the Ethisphere Institute for 7th Consecutive Year
Posted on March 20, 2014
AKRON, Pa. – Ten Thousand Villages, the world’s oldest and largest fair trade retailer, announced today that it has been recognized by the Ethisphere Institute as a 2014 World’s Most Ethical Company® for the seventh consecutive year.
The award recognizes companies and organizations that continue to raise the bar on ethical leadership and corporate behavior. World’s Most Ethical Company honorees demonstrate real and sustained ethical leadership within their industries. Ten Thousand Villages is one of only three companies in the general retail category honored this year.
“To be named a 2014 World’s Most Ethical Company® is truly an honor,” said Pam Raffensberger, Ten Thousand Villages Chief Executive Officer. “For more than 65 years, we have been working to create opportunities for artisans in developing countries to earn income and bring meaning and dignity to their lives through fair trade. Our commitment to long standing relationships provides these women and men with vital income to send their children to school, to put food on their table and to care for their families. A natural part of our work is a commitment to fairness and transparency with our stakeholders, as well as a commitment to environmental responsibility. We are thrilled that Ethisphere has recognized Ten Thousand Villages as a leader in the specialty retail category.”
The World's Most Ethical Company assessment is based upon the Ethisphere Institute’s Ethics Quotient™ framework. The Ethics Quotient framework has been developed over years of effort to provide a means to assess an organization’s performance in an objective, consistent and standardized way. 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. The Ethics Quotient framework and methodology was determined, vetted and refined by the expert advice and insights gleaned from Ethisphere’s network of thought leaders and from the World’s Most Ethical Company Methodology Advisory Panel.
Scores are generated in five key categories: ethics and compliance program (25%), reputation, leadership and innovation (20%), governance (10%), corporate citizenship and responsibility (25%) and culture of ethics (20%).
The full list of the 2014 World's Most Ethical Companies can be found at ethisphere.com/worlds-most-ethical/wme-honorees/.
About Ten Thousand Villages
Ten Thousand Villages, a leader in the fair trade industry, markets artisan-crafted home decor and gifts through a network of stores in more than 75 locations and online at tenthousandvillages.com. Ten Thousand Villages currently partners with more than 110 artisan groups in 37 developing countries. For more than 65 years, Ten Thousand Villages has been establishing long-term buying relationships in places where skilled artisans lack opportunities for stable income. All artisans are fairly paid for their products.
About the Ethisphere Institute
The Ethisphere® Institute is an independent center of research, best practices and thought leadership that promotes best practices in corporate ethics and governance and enables organizations to improve compliance, mitigate risk, and enhance relationships with employees, business partners, investors and the broad regulatory community. Ethisphere evaluates and benchmarks compliance and governance programs, honors superior achievement through its World’s Most Ethical Companies® recognition program and publishes Ethisphere Magazine. Ethisphere is also the leading provider of independent verification of corporate ethics and compliance programs that include: Ethics Inside® Certification, Compliance Leader Verification™ and Anti-Corruption Program Verification™. More information about Ethisphere can be found at: www.ethisphere.com.