IP on World's Most Ethical Company List for Seventh Straight Year
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For the seventh straight year, International Paper, Memphis, Tenn., USA, was named as one of the World's Most Ethical Companies by The Ethisphere Institute, New York, N.Y. Despite a record number of global nominees, IP secured a spot on the list by maintaining its focus on the ethical business practices and standards that have defined the company since its inception more than 100 years ago.
"This is an important recognition that encompasses all that we do at International Paper. We are a company of substance in the more than 24 countries where we operate – and we are strengthened by the results of our employees who do the right things for the right reasons," said Chairman and CEO John Faraci.
Alex Brigham, executive director of Ethisphere, noted that "not only did more companies apply for the World's Most Ethical Companies recognition this year than any year in the past, which demonstrates that ethical activity is an important part of many of these companies' business models, but we are also seeing more companies be proactive and create new initiatives that expand ethics programs and cultures across entire industries, such as industry-based ethics associations and other activities."
Through in-depth research and a multi-step analysis, Ethisphere reviewed nominations from companies in more than 100 countries and 36 industries. The methodology for the World's Most Ethical Companies includes reviewing codes of ethics, litigation, and regulatory infraction histories; evaluating the investment in innovation and sustainable business practices; looking at activities designed to improve corporate citizenship; and studying nominations from senior executives, industry peers, suppliers, and customers.
IP is a global producer of packaging and paper with manufacturing operations in North America, Europe, Latin America, Russia, Asia, and North Africa. Its businesses include industrial and consumer packaging and uncoated papers, complemented by xpedx, the company's North American distribution company. The company employs some 70,000 people and is strategically located in more than 24 countries. Its net sales for 2012 were $28 billion.
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