Solae named one of the world’s most ethical companies

Solae, a US-based soy ingredient company, has been named as the one of the World’s Most Ethical (WME) companies for 2012 by the Ethisphere Institute, a research organisation specialising in corporate ethics.

This is the third consecutive year that Solae has received the award, and it is one of the four food and beverage manufacturing firms from a list of more than 140 companies across the globe to have received this award in 2012.

The other three food and beverage companies that have received this award are Kellogg, PepsiCo and Stonyfield, an organic yoghurt maker.

Solae vice president, general counsel and chief compliance officer Cornel Fuerer said that highest ethical behaviour is one of Solae’s four core values, and it is critical to the success of the company and its customers.

"As the world’s leader in soy-based ingredients, we strive to provide solutions to help feed a growing global population with nutritious, sustainable and affordable ingredients," Fuerer added.

To recognise the world’s most ethical companies, Ethisphere evaluated nominations from companies in more than 100 countries and 36 industries.

The methodology involves evaluating codes of ethics, litigation and regulatory infraction histories, reviewing the investment in innovation and sustainable business practices, looking at activities designed to improve corporate citizenship, and studying nominations from senior executives, industry peers, suppliers and customers.

Last year, Solae also received the Ethics Inside Certification from Ethisphere, which is awarded to companies that have implemented adequate steps to reasonably prevent compliance failures and ethical breakdowns, and demonstrate the existence of a culture that promotes ethical business practices.

Image: Ethisphere Institute executive vice president Timothy Erblich, Solae corporate compliance manager Cindy Morrison, Solae VP and general counsel Cornel Fuerer and Ethishere Institute executive director Alexander Brigham. Photo: Solae