Espoo, Finland – Nokia has been recognized as one of the 2020 World’s Most Ethical Companies by Ethisphere, a global leader in defining and advancing the standards of ethical business practices.
This recognition reflects the work undertaken at Nokia to reinforce ethical behavior at all levels of the business, and promote high standards of corporate governance.
“It is a great honor to be recognized once again as one of the World’s Most Ethical Companies. Our reputation is built on more than 150 years of trustworthiness and ethical business practices. This award is due to the hard work and commitment of the entire Nokia team, who ensure we put our values of trust, integrity, and social and environmental responsibility into everything we do,” said Rajeev Suri, President and CEO, Nokia.
Nokia has been recognized four times overall, with three consecutive wins since 2018. It is one of only three honorees in the telecommunications industry and the only company in Finland to be included in 2020. In total, 132 honorees were recognized, spanning 21 countries and 51 industries.
“Nokia is one of just three telecom companies to make the list, highlighting how much the company is doing to enhance ethical business practices in the sector”, said Ethisphere’s Chief Executive Officer, Timothy Erblich. “Congratulations to everyone at Nokia for earning this recognition.”
Nokia is committed to being an industry leader on governance, corporate responsibility and compliance. Key elements of its compliance program include a focus on early identification and proactive mitigation of regulatory and corruption risks associated with products, services, and go-to-market strategy; continual assessments and enhancements of programs and processes to reduce inefficiencies and strengthen compliance oversight, and multiple avenues open to employees to voice and report concerns in an open-reporting environment with a strict non-retaliation policy.
About the Ethisphere Institute
The Ethisphere® Institute is the global leader in defining and advancing the standards of ethical business practices that fuel corporate character, marketplace trust and business success. Ethisphere has deep expertise in measuring and defining core ethics standards using data-driven insights that help companies enhance corporate character and measure and improve culture. Ethisphere honors superior achievement through its World’s Most Ethical Companies recognition program and provides a community of industry experts with the Business Ethics Leadership Alliance (BELA). More information about Ethisphere can be found at: https://ethisphere.com.
Methodology & Scoring
Grounded in Ethisphere’s proprietary Ethics Quotient®, the World’s Most Ethical Companies assessment process includes more than 200 questions on culture, environmental and social practices, ethics and compliance activities, governance, diversity and initiatives to support a strong value chain. The process serves as an operating framework to capture and codify the leading practices of organizations across industries and around the globe. Best practices and insights from the 2020 honorees will be released in a report and webcast in March and April of this year.
All companies that participate in the assessment process receive an Analytical Scorecard providing them a holistic assessment of where their programs stand against the demanding standards of leading companies.
The full list of the 2020 World’s Most Ethical Companies can be found at https://worldsmostethicalcompanies.com/honorees.