North Texas Companies Honored for Ethical Standards
Yesterday, two North Texas companies were given an elite status as “The 2015 World’s Most Ethical Companies” according to Ethisphere. The North Texas Commission is both proud and honored to have both Fluor and Texas Instruments as Chairman Level Investors of our organization. The full list includes 132 companies and spans 21 countries and 50 industries.
Donning the Fortune 500 at number 109, Irving-based Fluor has pioneered the engineering sector since its inception in 1912. Their projects span the globe and are considered some of the world’s toughest designs and builds. Notable Flour projects include the Dow Gulfstream Petrochemical program in Freeport, Texas; the Dominion Bear Garden power generating station in New Canton, Va.; the Dutch Ministry of Infrastructure high speed rail line in The Netherlands; the Codelco Gaby mine copper facilities and plant in Northern Chile; and many more. With a global footprint and a diverse selection of services, it’s easy to see how Fluor is one of only 15 to be named as “The World’s Most Ethical Companies” every year since the list began in 2007.
Texas Instruments (TI) continues to make headlines year over year for its ingenuity and creativity in current and new technologies. Although they humbly began in the oil fields of Texas, TI has grown into a global powerhouse for innovation with 31,000 employees worldwide serving 35 countries. Listed at 227 on the Fortune 500, TI has earned their status with a hefty resume of groundbreaking inventions including the first semiconductor, the handheld calculator, the microchip and DPI projection systems. Ethical practices have always been a priority for TI, and they began printing Ethics in the Business of TI in 1961. TI has been listed as one of “The 2015 World’s Most Ethical Companies” for the past eight years.
The Selection Process
With economic downturn and corporate scandal filling the headlines of the early 2000’s, it became alarmingly evident that companies needed more recognition for their ethical business practices. Beginning in 2007, Ethisphere has released a list of “The World’s Most Ethical Companies” using a proprietary rating system they call the corporate Ethics Quotient (EQ). The framework of EQ is comprised of a series of multiple-choice questions that capture a company’s performance in an objective, consistent and standardized way. The EQ framework and methodology was determined, vetted and refined by the expert advice and insights gleaned from Ethisphere’s network of thought leaders and from the World’s Most Ethical Companies Methodology Advisory Panel.
The EQ framework consists of five core categories. The categories and associated weighting for each are defined below. For full details on the process and scoring, please CLICK HERE.