Schnitzer Named as a World’s Most Ethical Company by the Ethisphere Institute for the Third Consecutive Year
14 March 2017
Schnitzer Steel Industries, Inc.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.
Schnitzer Steel Industries, Inc.
Investor Relations: Alexandra Deignan, 646-278-9711
Media Relations: Colin Kelly, 781-873-1665