Royal Caribbean has been named one of the World’s Most Ethical Companies for the fourth straight year by the Ethisphere Institute. The Ethisphere Institute is a global leader in defining the standards of ethical business practices.
Royal Caribbean has been recognized every year since 2016 and is the only cruise line honored in the Leisure & Recreation industry category.
In 2019, 128 honorees were recognized spanning 21 countries and 50 industries. The thirteenth class of honorees profoundly illustrate how companies continue to be the driving force for improving communities, building capable and empowered workforces, and fostering corporate cultures focused on ethics and a strong sense of purpose.
Richard D. Fain, Chairman and CEO of Royal Caribbean Cruises Ltd., gave the following statement: “We recognize that corporate responsibility and accountability is increasingly driving decisions made by our guests, business partners and our employees. This honor is a reflection of our 50-year commitment to demonstrating these shared values every day, and I know our employees take great pride in this recognition.”
The World’s Most Ethical Companies assessment is based upon the Ethisphere Institute’s Ethics Quotient(EQ) framework, which offers a quantitative way to assess a company’s performance in an objective, consistent and standardized manner.
The information collected provides a comprehensive sampling of definitive criteria of core competencies rather than all aspects of corporate governance, risk, sustainability, compliance and ethics.
Scores are generated in five key categories: ethics and compliance program (35 percent), culture of ethics (20 percent), corporate citizenship and responsibility (20 percent), governance (15 percent) and leadership and reputation (10 percent).
All companies that participate in the assessment process receive their scores, providing them with valuable insights into how they stack up against leading organizations.