KINGSPORT – Eastman Chemical Company (NYSE:EMN) announced today that it has been recognized by the Ethisphere Institute as a 2015 Worlds Most Ethical Company‚® for its efforts to continually raise the bar on ethical leadership and corporate behavior.
Eastman has a number of policies and initiatives in place that allow its team members to cultivate a culture of integrity and ethical standards. The company has an Office of Business Conduct that establishes the Code of Global Business Conduct. The Code outlines the laws, principles and guidelines all employees follow regarding honesty, integrity and responsible corporate behavior.‚ Annual training on the Code of Global Business Conduct is required for all employees. Additionally, the Business Conduct Helpline, which is a confidential, 24-hour hotline, is available. The line provides an anonymous means for employees to report suspected violations and is staffed by third-party specialists.
Being ethical not only makes good business sense, its the right thing to do, stated David A. Golden, Eastmans Senior Vice President who also serves as Eastmans Chief Ethics & Compliance Officer. It takes each and every one of us to ensure that Eastmans business activities are consistently conducted both legally and ethically. Because of our unwavering commitment to these behaviors, we have developed a reputation for being a high-performance specialty chemical company that operates with fairness and integrity. Receiving this prestigious recognition further reinforces our commitment to honesty, integrity and responsible corporate behavior.
The Worlds 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.
The Worlds Most Ethical Companies embrace the correlation between ethical business practice and improved company performance. These companies use ethics as a means to further define their industry leadership and understand that creating an ethical culture and earning the Worlds Most Ethical Companies recognition involves more than just an outward facing message or a handful of senior executives saying the right thing, said Ethispheres Chief Executive Officer, Timothy Erblich. Earning this recognition involves the collective action of a global workforce from the top down. We congratulate everyone at Eastman for this extraordinary achievement.
The World’s Most Ethical Company assessment is based upon the Ethisphere Institutes Ethics Quotient€ž¢ framework. The Ethics Quotient framework has been developed over years of effort to provide a means to assess an organizations 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. The Ethics Quotient‚ framework and methodology was determined, vetted and refined by the expert advice and insights gleaned from Ethispheres network of thought leaders and from the Worlds Most Ethical Company Methodology Advisory Panel.
Scores are generated in five key categories: ethics and compliance program (25%), reputation, leadership and innovation (20%), governance (10%), corporate citizenship and responsibility (25%) and culture of ethics (20%).
The full list of the 2014 World’s Most Ethical Companies can be found at http://ethisphere.com/worlds-most-ethical/wme-honorees/.
Eastman is a global specialty chemical company that produces a broad range of products found in items people use every day. With a portfolio of specialty businesses, Eastman works with customers to deliver innovative products and solutions while maintaining a commitment to safety and sustainability. Its market-driven approaches take advantage of world-class technology platforms and leading positions in attractive end-markets such as transportation, building and construction, and consumables. Eastman focuses on creating consistent, superior value for all stakeholders. As a globally diverse company, Eastman serves customers in approximately 100 countries and had 2014 revenues of approximately $9.5 billion. The company is headquartered in Kingsport, Tennessee, USA and employs approximately 15,000 people around the world. For more information, visit www.eastman.com.
About the Ethisphere Institute
The Ethisphere‚® Institute is an independent center of research, best practices and thought leadership that promotes best practices in corporate ethics and governance and enables organizations to improve compliance, mitigate risk, and enhance relationships with employees, business partners, investors and the broad regulatory community. Ethisphere evaluates and benchmarks compliance and governance programs, honors superior achievement through its Worlds Most Ethical Companies‚® recognition program and publishes Ethisphere Magazine. Ethisphere is also the leading provider of independent verification of corporate ethics and compliance programs that include: Ethics Inside‚® Certification, Compliance Leader Verification€ž¢ and Anti-Corruption Program Verification€ž¢. More information about Ethisphere can be found at: www.ethisphere.com.