|MINNEAPOLIS–(BUSINESS WIRE)–Mar. 7, 2016– U.S. Bank, the fifth largest commercial bank in the United States, announced today that it has been recognized by the Ethisphere Institute, the global leader in defining and advancing the standards of ethical business practices, as a 2016 World’s Most Ethical Company®. This marks the second consecutive year U.S. Bank has earned this recognition. The World’s 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.
“It is truly an honor to be named a World’s Most Ethical Company for the second consecutive year,” said Richard Davis, chairman and chief executive officer for U.S. Bancorp. “At U.S. Bank, we want to be our customers’ most trusted choice. We earn that distinction by embracing a culture of ethics and integrity as we help our customers navigate important financial milestones. We are proud to be on Ethisphere’s list because it validates the commitment of our 67,000 employees who choose to do the right thing for our customers, shareholders, communities and each other every single day.”
U.S. Bank is once again the largest U.S.-based bank being honored by the Ethisphere Institute this year. Being an honoree underscores U.S. Bank’s commitment to leading ethical business standards and practices ensuring long-term value creation for key stakeholders, including customers, employees, suppliers, regulators and investors.
“Companies rely on Ethisphere to continually raise and measure the standards of corporate behavior,” explained Ethisphere’s Chief Executive Officer, Timothy Erblich. “Those that demonstrate leadership in areas like citizenship, integrity and transparency create more value for their investors, communities, customers and employees, thus solidifying a sustainable business advantage. Congratulations to everyone at U.S. Bank for being recognized as a World’s Most Ethical Company.”
Earlier this year, Davis was named to the Ethisphere Institute’s 100 Most Influential in Business Ethics, ranking 22nd overall. The list recognizes the 100 individuals that have made a material impact in the world of business ethics and compliance.
The World’s Most Ethical Company assessment is based upon the Ethisphere Institute’s Ethics Quotient™ (EQ) framework developed over years of research and vetted and refined by the expert advice from Ethisphere’s World’s Most Ethical Company Methodology Advisory Panel. The EQ 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.
The full list of the 2016 World’s Most Ethical Companies can be found at http://worldsmostethicalcompanies.ethisphere.com/honorees/.
Best practices and insights from the 2016 honorees will be released in the form of a whitepaper and infographics over the next few months (download the 2015 insights). Organizations interested in how they compare to the World’s Most Ethical Companies are invited to participate in the Ethics Quotient.
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Source: U.S. Bank
|“Safe Harbor” Statement under the Private Securities Litigation Reform Act of 1995: Statements in this press release regarding U.S. Bancorp’s business which are not historical facts are “forward-looking statements” that involve risks and uncertainties. For a discussion of such risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see “Risk Factors” in the Company’s Annual Report or Form 10-K for the most recently ended fiscal year.|
Document Source: Corporate-IR.net