Marks 7th year the company has received recognition
Recognition honors those companies that take the long view with a purpose-based strategy and strive to create positive change throughout their global communities
KINGSPORT, Tenn., Feb. 25, 2020 – Eastman Chemical Company (NYSE:EMN) has been recognized by Ethisphere, a global leader in defining and advancing the standards of ethical business practices, as one of the 2020 World's Most Ethical Companies. The prestigious honor, which Eastman has received for seven consecutive years, underscores the company's commitment to leading with the highest ethical business standards and focusing its efforts to foster a zero-incident mindset, including zero incidents of unethical behavior.
Eastman has been recognized seven consecutive years and is one of only two honorees in the chemical industry. In 2020, 132 honorees were recognized spanning 21 countries and 51 industries.
"We are exceptionally proud to receive this award for the seventh year in a row. As we celebrate the company's centennial anniversary this year, the values and principles that Eastman was founded on in 1920 still guide us in 2020," said Mark Costa, Board Chair and Chief Executive Officer. "Eastman's purpose is to enhance the quality of life in a material way. We bring that purpose to life through our commitment to ethical business practices and a zero-incident mindset, as well as our determination to address complex global issues and positively impact society."
Eastman has policies and initiatives in place that allow its team members to cultivate a culture of integrity and ethical standards. The company's Office of Global Business Conduct establishes the Code of Business Conduct, which outlines the laws, principles and guidelines all employees follow regarding honesty, integrity and responsible corporate behavior. Regular training on the Code of Business Conduct is required for all employees. Additionally, the Business Conduct Helpline is a confidential, 24-hour-a-day phone service staffed by communications specialists employed by an independent, globally recognized service provider.
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.
Founded in 1920, Eastman is a global specialty materials company that produces a broad range of products found in items people use every day. With the purpose of enhancing the quality of life in a material way, Eastman works with customers to deliver innovative products and solutions while maintaining a commitment to safety and sustainability. The company's innovation-driven growth model takes advantage of world-class technology platforms, deep customer engagement, and differentiated application development to grow its leading positions in attractive end-markets such as transportation, building and construction, and consumables. As a globally inclusive and diverse company, Eastman employs approximately 14,500 people around the world and serves customers in more than 100 countries. The company had 2019 revenues of approximately $9.3 billion and is headquartered in Kingsport, Tennessee, USA. For more information, visit www.eastman.com.
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.
Eastman Media Contact
Tracy Kilgore Addington
+1 (423) 224-0498
Ethisphere Media Contact
+1 (480) 397-2658