The importance for illycaffè of being the World’s Most Ethical Company (for fifth time in a row)

illycaffè has been recognized by the Ethisphere Institute as a 2017 World’s Most Ethical Company. iIly has now been recognized for five consecutive years.

illycaffè named as a 2017 World’s Most Ethical Company

Companies have a challenging mission in our society. More: companies are the walls of modern society. In order to make positive change happen throughout the world, ethics must be a core of private enterprise. For this reasons I’m particularly proud that illycaffè has been recognized as a 2017 World’s Most Ethical Company by the Ethisphere Institute, a global leader in defining and advancing the standards of ethical business practices. The Ethisphere Institute’s work is inspiring and helping companies prioritize meaningful investments that push them to be the best. It is the fifth consecutive year that we are awarded with this recognition, in 2017 as the only Italian brand.

Few words on the World’s Most Ethical Company Honorees. Since 2007, Ethisphere has honored those companies who recognize their role in society to influence and drive positive change in the business community and societies around the world. These companies also consider the impact of their actions on their employees, investors, customers and other key stakeholders and leverage values and a culture of integrity as the underpinnings to the decisions they make each day.

The 2017 honorees span five continents, 19 countries and 52 industry sectors. Scores are based upon the Ethisphere Institute’s Ethics Quotient 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.

«Congratulations to everyone at illycaffè for being recognized as a World’s Most Ethical Company – has declared Ethisphere’s Chief Executive Officer, Timothy Erblich – . 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 long term-ism as a sustainable business advantage».

Ethisphere’s award represent an important recognition of our unwavering commitment to highest ethics, aiming to improve quality of life for all of its stakeholders. The heart of this commitment is a belief that also serves as operating philosophy: that the continuous pursuit of quality sets into motion a virtuous cycle that creates value for all parties involved, from coffee farmer to the consumer’s cup.

illycaffè is a stakeholder company which pursues the improvement of life through economic, social and environmental sustainability. Economic sustainability is pursued through the creation of value for all stakeholders, from farmers who earn above market prices in exchange for meeting quality standards, to the consumer, who enjoys a better coffee experience thanks to this quality.

Social sustainability is based on the concept of individual growth and self-fulfillment, starting from coffee-growing communities enjoying improved living conditions due to rising incomes.

In my vision, quality and sustainability are an inseparable pair: only the truly excellent is sustainable, and anything worth sustaining must be excellent. Sustainable development for illy is a continuous balance of improvement and innovation on one hand, and care for people and the environment on the other: an ambitious, deliberate balance between the achievements of modernity and the possibility for those who come after us to enjoy, at very least, the same opportunities as we do today.