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Panama Canal Authority Awarded International Recognition for its Ethical Business Practices

Date: 16-MAR-2012

PANAMA CITY, Panama, March 16, 2012 - For the second consecutive year, the Panama Canal Authority (ACP) was recognized by the Ethisphere Institute as one of the World's Most Ethical Companies. According to the Ethisphere Institute, the ACP secured a spot on the list for "demonstrating leadership in ethical business practices."

"We are truly honored by this award at the Panama Canal. At the very core of our principles is our commitment to transparency, honesty, responsibility to the Panamanian people, our customers and the environment," said Panama Canal Administrator/CEO, Alberto Alemán Zubieta. "These core values reinforce our will and passion to serve our customers and provide a safe, reliable and efficient service to the shipping and maritime industry."

The Panama Canal was one of two Latin American companies that were honored with this award. Among the Transportation and Logistics companies that were recognized together with the Panama Canal, were Nippon Yusen Kabushi Kaisha and UPS. Other companies awarded this recognition include Target, Holland America Line, Pepsi Co., American Express, CH2M Hill, Microsoft, Ford Motor Company and Accenture.

The Ethisphere Institute, a leading international think-tank dedicated to the creation, advancement and sharing of best practices in business ethics, corporate social responsibility, anti-corruption and sustainability, announced its sixth annual selection of the World's Most Ethical Companies, highlighting organizations that show leadership in promoting ethical business standards. These companies go beyond making statements about doing business "ethically" and translate those words into action, introducing innovative ideas to benefit the public and compelling their competitors to follow suit.

This year, the Ethisphere Institute's announcement of the 2012 World's Most Ethical Companies coincided with the annual Global Ethics Summit. Ethisphere hosted a dinner on the first night of the conference at the Grand Hyatt Hotel in New York on Thursday, March 15, 2012, to honor and celebrate those companies designated as 2012's World's Most Ethical Companies. Former U.S. Secretary of State Madeleine K. Albright shared her insights on the geopolitical environment in her keynote speech at the World's Most Ethical Companies Honoree Dinner.

"Each year the competition for World's Most Ethical Companies intensifies as the number of nominations submitted for consideration grows," said Alex Brigham, Executive Director of Ethisphere. "This year's winners know that a strong ethics program is a key component to a successful business model, and they continue to scrutinize their ethical standards to keep up with an ever-changing regulatory environment The Panama Canal Authority recognizes the important role that principled practices play in brand reputation, which ultimately is the most valuable asset for a corporation."

Through in-depth research and a multi-step analysis, Ethisphere reviewed nominations from companies in more than 100 countries and 36 industries. The methodology for the World's Most Ethical Companies includes reviewing codes of ethics, litigation and regulatory infraction histories; evaluating the investment in innovation and sustainable business practices; looking at activities designed to improve corporate citizenship; and studying nominations from senior executives, industry peers, suppliers and customers.

A record number of nominations and applications this year is evidence of both the award's growing prominence and companies' desire to be acknowledged for their high ethical standards. The 2012 list is the largest since the award's inception in 2007. The complete list of the 2012 World's Most Ethical Companies can be found at http://ethisphere.com/wme.

About the Panama Canal Authority (ACP)
The ACP is the autonomous agency of the Government of Panama in charge of managing, operating and maintaining the Panama Canal. The operation of the ACP is based on its organic law and the regulations approved by its Board of Directors. For more information, please visit http://www.pancanal.com/. You can also follow us on Twitter: http://twitter.com/thepanamacanal.

About Ethisphere Institute
The research-based Ethisphere Institute is a leading international think-tank dedicated to the creation, advancement and sharing of best practices in business ethics, corporate social responsibility, anti-corruption and sustainability. More information on the Ethisphere Institute, including ranking projects and membership, can be found at http://www.ethisphere.com. Read about the methodology and view the complete list of the 2012 World's Most Ethical Companies at http://ethisphere.com/wme.

 


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