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The world's 110 most ethical companies

Last updated on: March 18, 2011 11:40 IST

The world's 110 most ethical companies


"HDFC's finest investment is in its human resources. It draws its personnel from many disciplines. They are the building blocks on which the company's performance & productivity is based".
H T Parekh, Founder-Chairman

Housing Development Finance Corporation (HDFC) is the only Indian company in the fifth annual list of the World's Most Ethical Companies.

As many as 110 companies made it to the The Ethisphere Institute's list, including Adidas, eBay, Microsoft, Colgate-Palmolive and 30 other newcomers.

The most ethical companies reflect real and sustained ethical leadership within their industries, putting into real business practice the Institute's credo of 'Good. Smart. Business. Profit'.

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Image: HDFC.


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Indra Sistemas

Indra Sistemas is a Spanish information technology and defence systems company. The company, named after the Hindu god Indra, is listed on the Bolsa de Madrid.

Rockwell Collins Inc

Rockwell Collins, Inc is a large United States-based international company providing aviation and information technology systems, solutions, and services to governmental agencies and aircraft manufacturers.

The Aerospace Corporation

The Aerospace Corporation is a private, non-profit corporation headquartered in California that has operated a Federally Funded Research and Development Center (FFRDC) for the United States Air Force since 1960.



Adidas is a German sports apparel manufacturer and parent company of the Adidas Group, which consists of the Reebok sportswear company, golf company (including Ashworth), and Rockport.

Comme Il Faut

Comme Il Faut was founded in 1927. The tobacco company is most well known for its reputation of producing customised private label brands for its partners worldwide.


Founded in 1969 by Donald G Fisher and Doris F Fisher, The Gap, Inc is an American clothing and accessories retailer based in California.


Patagonia Inc is California-based clothing company, focusing mainly on outdoor clothing. Founded in 1972, the company is a member of several environmental movements.


The Timberland Company is an American manufacturer and retailer of outdoors wear with a focus on footwear.

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Image: Indra Sistemas.

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Cummins Inc is a corporation that designs, manufactures, distributes and services engines and related technologies, including fuel systems, controls, air handling, filtration, emission control and electrical power generation systems.


Denso is a leading supplier of advanced automotive technology, systems and components for all the world's major automakers in 33 countries.

Ford Motor Company

Ford Motor Company is an American multinational automaker based in Michigan, Detroit. Founded by Henry Ford and incorporated on June 16, 1903, Ford is the second largest automaker in the US and the fifth-largest in the world.

Johnson Controls

A Fortune 100 diversified, multi-industrial company, the US-based, Johnson Controls was founded in 1885 by professor Warren S. Johnson, inventor of the first electric room thermostat.



Founded in 1995, eBay Inc is an American Internet company that manages, an online auction and shopping website.

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Image: Ford Figo.

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Australia and New Zealand Banking Group

The Australia and New Zealand Banking Group, commonly called ANZ, is the fourth largest bank in Australia. Besides Australia and New Zealand, ANZ operates in 25 countries.

National Australia Bank

National Australia Bank is one of the largest financial institutions and banks in Australia in terms of market capitalisation and customers. NAB is ranked 17th largest bank in the world by market capitalisation.


The Netherlands-based Rabobank is a global leader in food and agri financing and in sustainability-oriented banking.

Standard Chartered Bank

Headquartered in London, Standard Chartered is a multinational financial services company, with operations in more than seventy countries.

The Westpac Group

The Westpac Group offers a broad range of banking and financial services in Australia and New Zealand, including retail, business and institutional banking and wealth management services.



Accenture is a global management consulting, technology consulting and technology outsourcing company.

Dun & Bradstreet

Dun & Bradstreet provides information on businesses and corporations for use in credit decisions, B2B marketing and supply chain management.


Headquartered in Virginia, Noblis is a non-profit research corporation that offers scientific research and engineering to clients in the federal, state, and private sectors.

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Image: A pedestrian walks past an ANZ bank branch in Melbourne.
Photographs: Reuters.
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With more than $6 billion in global sales, Ecolab is the global leader in cleaning, sanitising, food safety and infection control products and services.

JM Huber

J M Huber Corporation is a diversified, multinational supplier of engineered materials, natural resources and technology-based services to customers.


Hitachi Data Systems

A wholly owned subsidiary of Hitachi Ltd Hitachi Data Systems offers mid-range and high-end storage systems, software and services.

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Image: Ecolab.

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Adobe Systems

Founded in December 1982 by John Warnock and Charles Geschke, Adobe Systems is an American computer software company headquartered in San Jose, California, USA.


Microsoft Corporation headquartered in Redmond, Washington, USA that develops, manufactures, licenses products and services predominantly related to computing. is an enterprise cloud computing company headquartered in San Francisco, USA that distributes business software on a subscription basis.

Symantec Corporation

A Fortune 500 company, Symantec Corporation is the largest maker of security software for computers.

Teradata Corporation

Teradata Corporation specialises in data warehousing and analytic applications. Its products are commonly used by companies to manage data warehouses for analytics and business intelligence purposes.



CRH Plcis a diversified building material company, which manufactures and distributes building material products.

Granite Construction

A major construction material producer, Granite Construction Inc is a member of the S&P 400 Index based in California.

Parsons Corporation

Founded in 1944 by engineer Ralph M. Parsons, Parsons Corporation is an engineering, construction, and technical and management services firm headquartered in Pasadena, California.

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Image: Adobe Systems.

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A Swedish appliance maker, the Electrolux Group the second largest appliance manufacturer in the world. Forbes listed it among 130 Global High Performers in 2010.


Established in 1936, Ricoh Company (Ricoh) from Japan manufacturing electronic products, primarily cameras and office equipment such as printers, photocopiers and fax machines.


A Fortune 500 company, Xerox Corporation is global document management company that manufactures and sells a range of color and black-and-white printers, multifunction systems, photo copiers and digital production printing presses.


Colgate-Palmolive Company

An American diversified multinational corporation, Colgate-Palmolive Company makes household, health care and personal products.

Henkel AG

Henkel AG & Co based in Dusseldorf, Germany offers home care and personal care products such as shampoo, toothpaste, hair colorants and shower products, adhesives and for consumer and industrial purposes.

Kao Corporation

Kao Corporation is a chemical and cosmetics company headquartered in Tokyo, Japan.

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Image: Electrolux, leading maker of home appliances.

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General Electric Co.

An American multinational conglomerate, it operates in sectors like energy infrastructure, technology infrastructure, capital finance and consumer & industrial products. Forbes ranked GE as the world's second largest company in 2010.


Freescale Semiconductor

One of the first semiconductor companies in the world, Freescale Semiconductor has integrated circuit products on the automotive, embedded and communications markets. Freescale is among the Top 20 semiconductor sales companies.

Premier Farnell

Premier Farnell is a leading British distributor of electronic components supporting engineers and purchasing professionals globally. Premier Farnell is listed on the London Stock Exchange and is a constituent of the FTSE 250 Index.

Texas Instruments

A Fortune 500 company, Texas Instruments Inc is an American company which develops semiconductors and computer technology products. TI is the fourth largest manufacturer of semiconductors worldwide.

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Image: General Electric Co.

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Encana Corporation is one of North America's largest natural gas producers.


Statoil is a Norwegian energy company, formed by the 2007 merger of Statoil with the oil and gas division of Norsk Hydro. Fortune Magazine ranked Statoil as the world's 13th largest oil and gas company

NextEra Energy, Inc.

NextEra Energy Resources is an American energy supplier based in Juno Beach, Florida.

Northumbrian Water

Northumbrian Water (NW) is a trading division of Northumbrian Water Limited, which offers provides water and sewerage services.

Vestas Wind

Vestas Wind Systems is a Danish manufacturer, seller, installer, and servicer of wind turbines.

Wisconsin Energy Corporation

Wisconsin Energy Corporation serves more than 1.1 million electric customers in Wisconsin and Michigan's Upper Peninsula.


AECOM Technology Corporation

A Fortune 500 company, AECOM Technology Corporation is a professional technical and management support services firm. AECOM is an acronym for Architecture, Engineering, Consulting, Operations and Management.

CH2M Hill

CH2M HILL is a global provider of engineering, construction, and operations services for corporations, nonprofits, and federal, state, and local governments

Fluor Corporation

Fluor Corporation is a publicly owned engineering, procurement, construction, and maintenance services organisation. Fluor is a Fortune 500 and a S&P 500 company.

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Image: AECOM Technology Corporation.

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American Express

American Express is a diversified global financial services company headquartered in New York City. Founded in 1850, it is one of the 30 components of the Dow Jones Industrial Average. Fortune has listed Amex as one of the top 30 Most Admired Companies in the World.

Housing Development Finance Corp

Housing Development Finance Corporation Limited (HDFC Ltd.) was established in 1977 for offering providing long-term finance to households. HDFC has assisted more than 3.5 million families to own a home, through cumulative housing loan approvals of over Rs 2.98 trillion and disbursements of over Rs 2.42 trillion as at March 31, 2010.

NYSE Euronext

NYSE Euronext created by the combination of NYSE Group, Inc. and Euronext N.V, was launched on April 4, 2007.  With more than 8,000 listed issues, NYSE Euronext is home to the world's leading companies providing access to the global liquidity.

The Hartford Financial Services Group

The Hartford is a Fortune 100 company and one of America's largest investment and insurance companies.


Waste Management

Waste Management, Inc. is a waste management, comprehensive waste, and environmental services company in North America.

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Image: An American Express sign is seen on a restaurant door in New York.
Photographs: Reuters.
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General Mills

General Mills, Incis an American Fortune 500 corporation, which deals with food products.


PepsiCo, a Fortune 500, American global corporation manufactures grain-based snack foods, beverages, and other products.


Solae LLC is an international soy ingredients supplier based in St. Louis, Missouri. The company makes food, feed and industrial ingredients with soy.

Stonyfield Farm

Stonyfield Farm is an organic yogurt maker in New Hampshire, USA. Stonyfield Farm was founded by Samuel Kaymen in 1983as an organic farming school.



Kesko is the leading provider of trading sector services and a highly valued listed company.

The Co-Operative Group

The Co-operative Group Ltd is a United Kingdom publicly owned consumers' co-operative, managed and owned by its members. It is the largest organization of this type in the world, with over 5.5 million members.


Wegmans Food Markets, Inc is a family-owned US regional supermarket chain headquartered in Gates, New York.

Whole Food Market

Whole Foods Market is a food supermarket chain based in Austin, Texas which deals with natural and organic products.

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Image: General Mills.

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International Paper

International Paper Company is an American pulp and paper company, the largest such company in the world.

Stora Enso Oyj

Stora Enso Oyj is a Finnish Swedish pulp and paper manufacturer, formed by the merger of Swedish mining and forestry products company Stora and Finnish forestry products company Enso-Gutzeit Oy in 1998.

Svenska Cellulosa

Svenska Cellulosa Aktiebolaget (SCA) is a Swedish consumer goods company and pulp and paper manufacturer with headquarters in Stockholm.


Natura Cosmeticos

Natura Cosmeticos S.A. is a leading player in sales of cosmetics, fragrances, and toilet products in Brazil.

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Image: Natura Cosmeticos sells cosmetic products.

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Baptist Health South Florida

Baptist Health South Florida is one of the largest not-for-profit health care organizations. It offers a range of healthcare services, such as outpatient/diagnostic and urgent care facilities and home health care.

Hospital Corporation of America

Hospital Corporation of America is the largest private operator of health care facilities in the world.


Premier is a large, regional provider of health care services in the Midwest market area, since 1987.


Kimpton Hotels

Kimpton Hotel & Restaurant Group Inc founded in 1981 by William (Bill) Kimpton is the largest chain of boutique hotels in the United States.

The Rezidor Hotel Group

The Rezidor Hotel Group is one of the fastest growing hotel companies in the world. The group has more than 400 hotels.

Wyndham Worldwide

Wyndham Worldwide is one of the world's largest hospitality companies across six continents.

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Image: Baptist Health South Florida.

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Caterpillar is the world's largest manufacturer of medium speed engines, as well as one of the world's largest manufacturers of high speed diesel engines

Deere & Company

Deere & Company, an American corporation based Illinois, is the leading manufacturer of agricultural machinery in the world.

Eaton Corporation

Eaton Corporation is a global diversified power management company with 2010 sales of $13.7 billion.

Milliken & Company

Milliken & Company is one of the largest privately held textile manufacturers in the world.

Schneider Electric

Schneider Electric, is a global leader in energy management, with solutions for power and control, critical power, energy efficiency,


Aflac Incorporated

Aflac Incorporated (Aflac) is a general business holding company overseeing the operations of its subsidiaries.

Sompo Japan Insurance

Sompo Japan is the second-largest property insurance company in Japan.

Swiss Re

Swiss Re is a global reinsurer which focuses on risk transfer, risk retention financing, and asset management.

Wisconsin Physicians Service Insurance Co

Wisconsin Physicians Service Insurance Corporation (WPS) is a not for profit service insurance corporation offering commercial health insurance products.

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Image: A Caterpillar tractor lifts a piece of construction equipment in Somerville, Massachusetts.
Photographs: Reuters.
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Zappos is an online shoe and apparel shop currently based in Henderson, Nevada. Zappos has grown to be the largest online shoe store.


Thomson Reuters

Thomson Reuters is an information company listed on the Toronto Stock Exchange and the New York Stock Exchange. Thomson Reuters is the world's largest international multimedia news agency.

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Image: Thomson Reuters office.

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Becton Dickinson

BD (Becton, Dickinson and Company) is a medical technology company that manufactures medical supplies, devices, laboratory equipment and diagnostic products.

Royal Phillips

Royal Philips Electronics or Philips a multinational Dutch electronics corporation. Philips is one of the largest electronics companies in the world.



Umicore is a Belgian-based multinational materials technology company, headquartered in Brussels.

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Image: Becton Dickinson for medical supplies.

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British Land plc

British Land is an investor in UK property and actively manages, financing and develops some of the UK's finest buildings.

Jones Lang LaSalle

Jones Lang LaSalle is a financial and professional services firm that offers integrated services delivered by expert teams worldwide to clients seeking increased value by owning, occupying or investing in real estate.


Unibail-Rodamco is Europe's leading listed commercial property company specialising in shopping centres in European capital cities.


Starbucks Coffee Company based in Seattle, Washington is the largest coffeehouse company in the world with 17,009 stores in 50 countries.

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Image: Starbucks Coffee.

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Medicis Pharmaceutical Corporation is the leading independent specialty pharmaceutical company in the United States focusing on the treatment of dermatological and aesthetic conditions.


Best Buy Co.

Best Buy Co, Incis a specialty retailer of consumer electronics in the United States. It also operates in Mexico, Canada, China, Turkey and the United Kingdom.

Hennes & Mauritz

Hennes & Mauritz is a Swedish retail-clothing company, known for its fast-fashion clothing offerings.


Sonae is the largest private employer in Portugal. The company operates retail stores through its subsidiary Modelo Continente.


Target Corporation (Target) is an American retailing company founded in Minneapolis, Minnesota in 1902 as the Dayton Dry Goods Company.

Ten Thousand Villages

Ten Thousand Villages is a non-profit fair trade organisation that markets handcrafted products made by poor artisans from more than 38 countries.

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Image: Best Buy Co.

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Manpower Inc offers innovative workforce solutions for the entire employment and business cycle including permanent, temporary and contract recruitment and employee assessment and selection.


Avaya Inc

Avaya Inc is a privately held telecommunications company which specialises in enterprise network, telephony, and call center technology.

Cisco Systems

One of the world's biggest technology corporations, Cisco designs and sells consumer electronics, networking, voice, and communications technology and services.

Juniper Networks

Juniper Networks offers high-performance network solutions that help service providers, enterprises, and public sector organizations.

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Image: Avaya Inc.
Photographs: Reuters.
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Singapore Telecom

Singapore Telecommunications (SingTel) is one of the largest mobile network operators in the world.


Swisscom AG is a major telecommunications provider based in Switzerland.

T-Mobile USA

T-Mobile USA, Inc offers wireless voice, messaging and data services in the United States.


Autoridad del Canal de Panama

The Panama Canal Authority (Autoridad del Canal de Panam is the government agency of Panama responsible for the operation and management of the Panama Canal.

East Japan Railway Company

East Japan Railway Company is the largest passenger railway company in the world.

Nippon Yusen Kabushi Kaisha

Nippon Yusen Kaisha (NYK Line) is a leading shipping company, offering transport services while maintaining uppermost standards.


Founded in 1907 as a messenger company in the United States, UPS has grown into a multi-billion-dollar corporation. It is now one f the world's largest package delivery, specialised transportation and logistics services.

Image: Singapore Telecom.

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