Royal Caribbean named one of World's Most Ethical Companies
The Ethisphere Institute has named Royal Caribbean a member of the 2016 World's Most Ethical Company list, which recognizes companies that define and advance the standards of ethical business practices.
This is the first time Royal Caribbean has been recognized and is one of only two companies in the Lodging, Leisure and Recreation category to make the list.
"Tomorrow or 10 years from now, there is no substitute for doing the right thing," said Richard D. Fain, chairman and chief executive officer for Royal Caribbean Cruises Ltd. "Customers expect it, shareholders demand it, and we try to live it every day."
"Companies rely on Ethisphere to continually raise and measure the standards of corporate behavior. 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," explained Ethisphere's Chief Executive Officer, Timothy Erblich. "Congratulations to everyone at Royal Caribbean Cruises for being recognized as a World's Most Ethical Company."
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.