Ethisphere Announces the 2023 World’s Most Ethical Companies

 Ethisphere, a global leader in defining and advancing the standards of ethical business practices, today announced the 135 honorees representing 19 countries and 46 industries that have earned the coveted designation of World’s Most Ethical Companies®  in 2023.

This is the 17th annual recognition of companies that have demonstrated a commitment to ethical business practices through programs that positively impact employees, communities, and broader stakeholders, and contribute to sustainable and profitable long-term business performance.

In 2023, eight companies are first-time honorees, while six have been recognized 17 times – every year since the inception of the awards in 2007.

“People look to businesses today to lead on important issues and to do right by all of their stakeholders,” said Ethisphere CEO Erica Salmon Byrne. “It takes vision and values to explain your why and create the programs and practices that turn those statements into actions. We are thrilled to celebrate this year’s honorees as part of an exclusive group dedicated to leading by example on business integrity.”

“PepsiCo is proud to be a 17-time World’s Most Ethical Companies honoree. This recognition highlights our commitment to act with integrity and do business the right way while continually improving our efforts to lead with purpose and inspire positive change in our markets and communities,” said Ramon Laguarta, Chairman of the Board of Directors and chief executive officer of PepsiCo.

“Being honored in Ethisphere’s 2023 World’s Most Ethical Companies is a milestone for Flex, and it signals to us and our entire global network that the ongoing pursuit of higher standards and sustaining an ethical culture is how we commit to improving the world. We believe in doing the right thing, always – for our people, for the communities in which we operate, and for the world at large. We are proud to stand with other leaders around the globe who embody responsible and sustainable business practices,” said Revathi Advaithi, chief executive officer, Flex.

“Being named one of the World’s Most Ethical companies for 14 consecutive years reinforces the critical importance of ethics, integrity, and core values in driving our culture of performance,” said Carey Smith, chair, president, and chief executive officer of Parsons. “We strive for excellence at every level of our company but especially ethical integrity, which drives how we deliver innovative, integrated solutions for our global customers.”

“Our ability to be honored for the first time as one of the World’s Most Ethical Companies is a direct result of the commitment of nearly 16,000 Clarios team members around the world,” said Clarios President and CEO Mark Wallace. “I’m proud to lead our team as we strive to live our values, especially our value around being principled, as we do the right things in the right ways for our employees, customers, communities and the planet.” 

“We are purpose driven and the commitment of our people to do the right thing is foundational to our strong culture of ethics and integrity, which has earned Voya recognition as one the World’s Most Ethical Companies for 10 consecutive yearsevery year that we have been eligible,” said Heather Lavallee, CEO, Voya Financial, Inc.

Ethisphere’s 2023 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 13.6 percentage points over a five-year period.

“The outperformance, which Ethisphere refers to as the Ethics Premium, has remained consistent since we began tracking the equity performance of honoree companies. This outperformance is the result of the kinds of practices that lead a company to be on our list –investments in their people, culture, and communities. We see in this data that, over time, these practices lead to stronger financial performances by businesses,” Salmon Byrne added.

CEO Forum and Honoree Gala on March 14th

To celebrate the 2023 class of World’s Most Ethical Companies honorees, Ethisphere is holding a CEO Forum and an Honoree Gala. 

The CEO Forum provides an opportunity for senior leaders to discuss the state of ESG today. The first session—A Collective Force of Values and Vision: Driving Impact on ESG Through a Shared Commitment to Change—features Heather Lavallee, chief executive officer, Voya Financial; and Tamara Lundgren, chairman, president and chief executive officer, Schnitzer Steel. The second session is titled “Dedication Over Division: How Will Companies Most Effectively Lead on ESG When Polarization is at Peak?” It features Mile Corrigan, president and chief executive officer, Noblis; and Roger Krone, chairman and chief executive officer, Leidos.

Ethisphere will host an Honoree Gala featuring a keynote address by Jenn Lim, CEO and co-founder of Delivering Happiness (DH), a company she and the late CEO of, Tony Hsieh, created to help companies develop cultures for a more profitable and sustainable business approach. Jenn is a Wall Street Journal bestselling author of “Beyond Happiness.”

Methodology & Outcomes

Grounded in Ethisphere’s proprietary Ethics Quotient®, 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, equity, and inclusion; and initiatives that 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.

Ethisphere updated the Ethics Quotient questionnaire again this year based on input from our own experts, former applicants, and others to reflect current best practices and to clarify what our team is looking for from applicants. Changes to the 2023 Ethics Quotient include new and revised questions to areas of evolving importance, which include board and C-suite diversity practices, ambassador/liaison programs, acquisition practices, post-investigation discipline, ESG materiality and reporting practices, and human rights. 

Each of the 2023 World’s Most Ethical Companies® receives access to a new Digital Analytical Scorecard experience. It provides an overview of how the applicant scored against the World’s Most Ethical Companies honorees in key categories and offers access to 15 key Ethics Quotient® data points, along with associated resources, in an interactive format powered by The Sphere—Ethisphere’s new Ethics and Compliance benchmarking platform. 


The full list of the 2023 World’s Most Ethical Companies can be found at

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