Utilities with hydro again named to World’s Most Ethical Companies list


There were nine energy and utilities companies honored, out of a total of 135, on the 2021 World’s Most Ethical Companies list released by Ethisphere, and several of these utilities own and operate hydroelectric plants.

These companies, the same as those honored in 2020, are:

  • AES in the U.S.
  • Avista in the U.S.
  • EDP in Portugal
  • Iberdrola in Spain
  • National Grid in the UK
  • Xcel Energy in the U.S.

Rounding out this list were Avangrid in the U.S., Capital Power in Canada and NextEra Energy in the U.S.

The energy and utilities companies above each employ between 825 (Capital Power) and 34,306 people (Iberdrola).

The World’s Most Ethical Companies assessment process includes more than 200 data points on culture, environmental and social practices, ethics and compliance activities, governance, diversity and initiatives to support a strong value chain. This year, the process was streamlined and the question set expanded to gauge how applicants are adapting and responding to the global health pandemic; environmental, social, and governance factors; safety; equity, and inclusion; and social justice.

The 135 honorees represent 22 countries and 47 industries. This is the 15th annual recognition of this designation. Ethisphere said its 2021 Ethics Index, the collection of publicly-traded companies recognized as recipients of this year’s World’s Most Ethical Companies designation, outperformed a comparable index of large cap companies by 7.1 percentage points over the past five calendar years.

“We continue to be inspired by the actions and initiatives of the World’s Most Ethical Companies honorees. Leadership by this group of companies is a reason that business — above all other institutions — was most trusted during the challenging times of 2020,” stated Ethisphere Chief Executive Officer Timothy Erblich. “Honorees integrate ethics and values with corporate strategy. They speak up, are transparent, take action, and look for innovative ways to make a difference. We congratulate their efforts.”

The Ethisphere Institute “define[s] and advance[es] the standards of ethical business practices that fuel corporate character, marketplace trust and business success.” The company measures and defines core ethics standards using data-driven insights, according to its website.


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