Volvo Cars, the premium car maker, has been recognized by the Ethisphere Institute, a global leader in defining and advancing the standards of ethical business practices, as a 2018 World’s Most Ethical Company®. This is the second consecutive year that Volvo Cars has received this recognition. 135 companies have been listed this year, with Volvo Cars being one of only three in the Automotive category.
“Responsible business is a fundamental part of Volvo Cars´ culture and way of operating, and something we continuously promote internally as well as with our business partners. An ethical approach to business is not only the right thing to do, but also brings financial value and helps attract and retain the best talent. We are proud that we have been recognized as one of the world’s most ethical companies for the second consecutive year.” says Håkan Samuelsson, President and CEO of Volvo Cars.
Maria Hemberg, Senior Vice President Group Legal, General Counsel and Chair of Volvo Cars’ Sustainability Board, commented: “The World’s Most Ethical Company assessment process has helped us drive the continuous improvement of our Compliance & Ethics program. To be named as one of the World’s Most Ethical Companies for the second time is a welcome acknowledgement of our work to date in promoting ethical and responsible practices, both internally and externally.”
Volvo Cars has established a Compliance & Ethics program to support its commitment to responsible business, as well as to prevent and mitigate a wide range of legal and ethical risks. As part of this program, the Code of Conduct and the Code of Conduct for Business Partners, both based on international conventions and standards, set out the principles which employees and business partners are expected to abide to when working for or doing business with Volvo Cars.
Finally, in line with its commitment to fostering an ethical culture, Volvo Cars has developed a broad range of training on ethical business practices for all employees, as well as specific training for managers focusing on behavior and role modelling.