ASB MAGAZINE: VF released a statement that it has been recognised by Ethisphere, a global leader in defining and advancing the standards of ethical business practices, as one of the 2021 World’s Most Ethical Companies. Vans (a division of VFC) was the nearest action sports brand listed amongst the 135 companies recognised for their ‘unwavering commitment to business integrity’. This year’s honourees span 22 countries and 47 industries and includes 9 first-time honourees and six companies that have been named to the list every year since its inception.
However, only VF and Hanes have made this year’s nominees in the ‘Apparel’ sector. Any company, public or private, for-profit or not-for-profit, U.S. or foreign-based, is eligible to participate in the process and be considered for designation as one of the World’s Most Ethical Companies. That said, the Ethics Quotient questionnaire and peer group is generally designed for those companies with over US$250 million in revenue.
“We’re very proud to be recognized for the fifth consecutive year as one of the world’s most ethical companies and the only honouree in the apparel industry,” said Steve Rendle, VF’s Chairman, President and CEO.
“This recognition demonstrates the deep commitment of our associates around the world to lead with integrity and transparency. As we continue to transform our business to be a more consumer-minded, retail-centric and hyper-digital organization, we’ll also maintain our relentless focus on managing our global operations with the highest ethical standards.”
“While addressing the tough challenges of 2020, we saw companies lead – above all other institutions – on earning the trust of stakeholders through resilience and a commitment to ethics and integrity,” said Ethisphere CEO, Timothy Erblich.
“The World’s Most Ethical Companies honourees continue to demonstrate an unwavering commitment to the highest values and positively impacting the communities they serve. Congratulations to everyone at VF Corporation for earning the World’s Most Ethical Companies designation.”
About VF Corporation
Founded in 1899, VF Corporation is one of the world’s largest apparel, footwear and accessories companies connecting people to the lifestyles, activities and experiences they cherish most through a family of iconic outdoor, active and workwear brands including Vans®, The North Face®, Timberland® and Dickies®. Our purpose is to power movements of sustainable and active lifestyles for the betterment of people and our planet. We connect this purpose with a relentless drive to succeed to create value for all stakeholders and use our company as a force for good.
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 honours 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.