The Tata Power Company Ltd. announced today that it has been recognized by the Ethisphere Institute, the global leader in defining and advancing the standards of ethical business practices, as a 2016 World’s Most Ethical Company®.
The World’s Most Ethical Companies designation recognizes those organizations that have had a material impact on the way business is conducted by fostering a culture of ethics and transparency at every level of the company.
Being a third consecutive year honoree underscores Tata Power’s commitment to leading ethical business standards and practices ensuring long-term value to key stakeholders including customers, employees, suppliers, regulators and investors. Tata Power is one of the only four companies in the Energy and Utilities (Electric) sector honored this year.
Mr. Anil Sardana, CEO & Managing Director, Tata Power said that “It is a matter of great pride that Tata Power has been recognised amongst World’s Most Ethical Company 2016, by the Ethisphere Institute, an independent centre of research in USA, promoting best practices in corporate ethics and governance. This is a great recognition as Tata Power has been honoured third time in succession by Ethisphere Institute, which recognises organizations that continue to raise the bar on ethical leadership and corporate behaviour.
This award belongs to Team Tata Power for pursuing its assignments with sincerity & transparency and for following high ethical standards diligently as defined by Tata Code of Conduct in dealing with all its stakeholders including customers and business partners. Team Tata Power believes that our defined values are SACRED to us. This third time recognition of being amongst World’s Most Ethical Company, takes our responsibility and commitment on conduct and culture to yet another higher level. The Company would need to now pursue enhanced level of initiatives and programs’ to reinforce our ethical standards and cultural fabric.”
“Companies rely on Ethisphere to continually raise and measure the standards of corporate behavior. Those that demonstrate leadership in areas like citizenship, integrity and transparency create more value for their investors, communities, customers and employees, thus solidifying a sustainable business advantage,” explained Ethisphere’s Chief Executive Officer, Timothy Erblich. “Congratulations to everyone at The Tata Power Company Ltd for being recognized as a World’s Most Ethical Company.”
The World’s Most Ethical Company assessment is based upon the Ethisphere Institute’s Ethics Quotient™ (EQ) framework developed over years of research and vetted and refined by the expert advice from Ethisphere’s World’s Most Ethical Company Methodology Advisory Panel. The EQ offers a quantitative way to assess a company’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. Scores are generated in five key categories: ethics and compliance program (35%), corporate citizenship and responsibility (20%), culture of ethics (20%), governance (15%) and leadership, innovation and reputation (10%) and provided to all companies who participate in the process.
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