Visa Inc. (NYSE:V), the global payments technology company, today was recognized for leadership in business ethics when it was placed on the 2013 list of the World’s Most Ethical Companies by Ethisphere Institute, a leading international think tank. Visa joins a group of global brands who are dedicated to doing business with world-class ethical practices and promoting ethical business standards.
The Ethisphere Institute is dedicated to the creation, advancement and sharing of best practices in business ethics, corporate social responsibility, anti-corruption, and sustainability. This is the seventh year that the Institute has produced its annual list, and the first time Visa has earned a position on it since becoming a publicly-traded company in 2008.
“Visa is honored to be part of this group of companies who are committed to operating at the highest level of ethics,” said Ellen Richey, Chief Enterprise Risk Officer of Visa Inc. “This recognition reflects the commitment of Visa’s employees worldwide to the highest levels of ethical business practices and trust. Trust is critical to our business of enabling electronic commerce, and that’s what we’ve done for more than 50 years.”
Ethisphere uses a proprietary Ethics Quotient (EQ
) rating system to evaluate companies’ performance in an objective, consistent and standardized way. The EQ framework consists of five core evaluation categories including ethics and compliance program; reputation, leadership and innovation; governance; corporate citizenship and responsibility; and culture of ethics.
“Visa Inc. continues to set the bar within its industry for a number of its ethics programs,” said Alex Brigham, executive director of the Ethisphere Institute. “As more companies each year strive for recognition, Visa Inc. was added to World’s Most Ethical 2013 by demonstrating its strong commitment to ethical practices.”
Visa takes a comprehensive approach to ethical business practice, including industry-leading policies, trainings and programs. For example, Visa’s Code of Business Conduct and Ethics, which applies to all employees and directors, emphasizes that honesty and integrity are of paramount importance in every activity. In addition, Visa’s Corporate Responsibility program is focused on areas where its business expertise and philanthropic contributions can contribute to financial inclusion, humanitarian support, community involvement, and responsible business practices.