Schnitzer Steel Named One of the 2019 World's Most Ethical Companies® by Ethisphere for the Fifth Consecutive Year
Recognition honors those companies who recognize their critical role
to influence and drive positive change in the business community and
societies around the world.
PORTLAND, Ore.--(BUSINESS WIRE)--Feb. 26, 2019--
Schnitzer Steel Industries, Inc. (Nasdaq: SCHN) has been recognized for
the fifth consecutive year as one of the 2019
World’s Most Ethical Companies by the Ethisphere Institute, a global
leader in defining and advancing the standards of ethical business
practices. Schnitzer is one of 128 honorees spanning 21 countries and 50
industries.
This year’s honorees illustrate how companies continue to be the driving
force for improving communities, building capable and empowered
workforces, and fostering corporate cultures focused on ethics and a
strong sense of purpose.
“This year marks the fifth year that we have been honored as one of the
World’s Most Ethical Companies,” said Tamara Lundgren, President and
Chief Executive Officer. “More than a continued acknowledgment of
Schnitzer’s ethical standards and responsible business practices, this
prestigious distinction recognizes our employees’ commitment to acting
ethically, safely and sustainably every day. I extend my congratulations
and thanks to all of our employees, and look forward to continued
excellence in service to our customers, shareholders and communities.”
“We are proud to be a member of a community of companies committed to
raising the bar on ethical leadership and actions in all aspects of our
business. This is a testament to the integrity, inclusiveness and can-do
spirit of our workforce,” said Callie Pappas, Vice President and Chief
Compliance Officer.
“Today, employees, investors and stakeholders are putting their greatest
trust in companies to take leadership on societal issues. Companies that
take the long view with a purpose-based strategy are proven to not only
outperform but last,” said Ethisphere’s Chief Executive Officer, Timothy
Erblich. “I congratulate everyone at Schnitzer for earning this
recognition.”
Methodology & Scoring
The World's Most Ethical Companies 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 manner. 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 percent), culture of ethics (20 percent), corporate
citizenship and responsibility (20 percent), governance (15 percent) and
leadership and reputation (10 percent). All companies that participate
in the assessment process receive their scores, providing them with
valuable insights into how they stack up against leading organizations.
Honorees
The full list of the 2019 World's Most Ethical Companies can be found at https://worldsmostethicalcompanies.com/honorees.
Best practices and insights from the 2019 honorees will be released in a
report and webcast in March and April of this year. Sign
up to receive the report.
About Schnitzer Steel Industries, Inc.
Schnitzer Steel Industries, Inc. is one of the largest manufacturers and
exporters of recycled metal products in North America with operating
facilities located in 23 states, Puerto Rico and Western Canada.
Schnitzer has seven deep water export facilities located on both the
East and West Coasts and in Hawaii and Puerto Rico. The Company’s
integrated operating platform also includes auto parts stores with
approximately 5 million annual retail visits. The Company’s steel
manufacturing operations produce finished steel products, including
rebar, wire rod and other specialty products. The Company began
operations in 1906 in Portland, Oregon.
About the Ethisphere Institute
The Ethisphere® Institute is the global leader in defining and advancing
the standards of ethical business practices that fuel corporate
character, marketplace trust and business success. Ethisphere has deep
expertise in measuring and defining core ethics standards using
data-driven insights that help companies enhance corporate character and
measure and improve culture. Ethisphere honors superior achievement
through its World’s Most Ethical Companies recognition program and
provides a community of industry experts with the Business Ethics
Leadership Alliance (BELA). More information about Ethisphere can be
found at: https://ethisphere.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20190226005346/en/
Source: Schnitzer Steel Industries, Inc.
Schnitzer Steel Industries, Inc.
Media Relations:
Colin Kelly
ckelly@schn.com
781-873-1665
or
Investor
Relations:
Michael Bennett
503-323-2811
www.schnitzersteel.com
ir@schn.com
Ethisphere Media Contact
Clea Nabozny
480-397-2658
clea.nabozny@ethisphere.com