Schnitzer Named One of the 2018 World's Most Ethical Companies® by the Ethisphere Institute for the Fourth Consecutive Year
PORTLAND, Ore.--(BUSINESS WIRE)--Feb. 12, 2018--
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 one of the 2018
World’s Most Ethical Companies. Recognition honors those who operate
with purpose and incorporate integrity into their ecosystems.
Schnitzer has been recognized for a fourth consecutive year,
highlighting the Company’s commitment to leading with integrity and
prioritizing ethical business practices.
In 2018, Ethisphere recognized 135 honorees, spanning 23 countries and
57 industries.
“We are honored to be recognized once again as one of the World’s Most
Ethical Companies,” said Tamara Lundgren, President and Chief Executive
Officer. “This award underscores our employees’ commitment to acting
ethically, safely and sustainably every day, allowing us to better serve
our customers, suppliers, shareholders and communities. I extend my
congratulations and thanks to our employees.”
“Integrity, one of our core values, is at the center of all that we do,”
said Callie Pappas, Vice President and Chief Compliance Officer. “Being
honored as one of the World’s Most Ethical Companies for the fourth year
highlights that our employees are living our values and are dedicated to
doing the right thing.”
“While the discourse around the world changed profoundly in 2017, a
stronger voice emerged. Global corporations operating with a common rule
of law are now society’s strongest force to improve the human condition.
This year we saw companies increasingly finding their voice. The World’s
Most Ethical Companies in particular continued to show exemplary
leadership,” explained Ethisphere’s CEO, Timothy Erblich. “I
congratulate everyone at Schnitzer for being recognized as one of the
World’s Most Ethical Companies.”
Ethics & Performance
Once again, the 2018 World’s Most Ethical Companies have proven that
operating with integrity leads to greater financial performance.
Research has found that, when indexed, listed World’s Most Ethical
Companies outperformed the U.S. Large Cap Index over five years by 10.72
percent and over three years by 4.88 percent. Ethisphere refers to this
as the Ethics Premium.
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), corporate citizenship and responsibility (20
percent), culture of ethics (20 percent), governance (15 percent) and
leadership, innovation 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.
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 five 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 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: http://www.businesswire.com/news/home/20180212005287/en/
Source: Schnitzer Steel Industries, Inc.
Schnitzer Steel Industries, Inc.
Media
Relations:
Colin Kelly, 781-873-1665
or
Investor
Relations:
Stefano Gaggini, 503-265-6329
www.schnitzersteel.com
[email protected]
or
Ethisphere
Clea
Nabozny, 480-397-2658
[email protected]