Schnitzer Named as a World’s Most Ethical Company by the Ethisphere Institute for the Third Consecutive Year
PORTLAND, Ore.--(BUSINESS WIRE)--Mar. 13, 2017--
Schnitzer Steel Industries, Inc. (Nasdaq: SCHN) has been recognized by
the Ethisphere Institute, a global leader in defining and advancing the
standards of ethical business practices, as a 2017
World’s Most Ethical Company®. Recognition honors those
companies who lead with integrity and align principle with action.
Schnitzer has been recognized for a third consecutive year, underscoring
the Company’s commitment to the highest ethical business standards and
practices. Schnitzer remains the only U.S. metals recycling company to
be among the honorees.
“We are honored to once again be selected by Ethisphere as a World’s
Most Ethical Company,” said Tamara Lundgren, President and Chief
Executive Officer. “This award recognizes our commitment to act with
integrity and respect, enabling us to do business around the world,
serving the interests of our customers, suppliers, partners, employees
and shareholders.”
“We are proud to be included among an elite group of companies who serve
as leaders in ethics and corporate citizenship and responsibility,” said
Callie Pappas, Vice President and Chief Compliance Officer. “We are
committed to maintaining a best-in-class ethics and compliance program
based on doing the right thing every time. We are proud to have been
named a World’s Most Ethical Company for the third consecutive year.”
Since 2007, Ethisphere has honored those companies who recognize their
role in society to influence and drive positive change, consider the
impact of their actions on their employees, investors, customers and
other key stakeholders and use their values and culture as an
underpinning to the decisions they make every day.
“Over the last eleven years we have seen the shift in societal
expectations, constant redefinition of laws and regulations and the
geo-political climate. We have also seen how companies honored as the
World’s Most Ethical respond to these challenges. They invest in their
local communities around the world, embrace strategies of diversity and
inclusion, and focus on sustainability as a long-term business
advantage,” explained Ethisphere’s Chief Executive Officer, Timothy
Erblich. “Congratulations to everyone at Schnitzer for being recognized
as a World’s Most Ethical Company.”
Methodology & Scoring
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. 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.
About Schnitzer Steel Industries, Inc.
Schnitzer Steel Industries, Inc. is one of the largest manufacturers and
exporters of recycled metal products in the United States 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 business produces 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.
Ethisphere honors superior achievement through its World’s Most Ethical
Companies recognition program, provides a community of industry experts
with the Business Ethics Leadership Alliance (BELA) and showcases trends
and best practices in ethics with the publication of Ethisphere Magazine.
More information about Ethisphere can be found at: http://ethisphere.com.
View source version on businesswire.com: http://www.businesswire.com/news/home/20170313005120/en/
Source: Schnitzer Steel Industries, Inc.
Schnitzer Steel Industries, Inc.
Investor
Relations: Alexandra Deignan, 646-278-9711
Media Relations: Colin
Kelly, 781-873-1665
www.schnitzersteel.com
[email protected]
or
Ethisphere
Clea
Nabozny
480-397-2658
[email protected]