The latest World’s Most Ethical Companies ranking shows that business integrity isn’t just good practice, it drives stronger returns, resilience and long-term value.
Ethisphere has unveiled its annual 2026 World’s Most Ethical Companies list, honouring 138 organisations across 17 countries and 40 industries for best-in-class ethics, compliance and governance.
Marking the 20th anniversary of the recognition, this year’s announcement is accompanied by new data from the Ethics Premium, showing that publicly trading honourees outperformed a global benchmark by 8.2 percentage points between 2021 and 2025.
ETHICS AND SUCCESS
“Organisations do not have to choose between being ethical and being financially successful,” said Erica Salmon Byrne, Ethisphere’s Chief Strategy Officer. “The Ethics Premium shows how ethics can drive success.”
But beyond returns, Ethisphere says the deeper story is resilience. Honourees experienced smaller drawdowns, faster recoveries, and less time below peak performance – reinforcing the idea that ethics is not just a principle, but an operational advantage.
“The Ethics Premium tells us a resiliency story… they drop less, recover faster, and move toward value creation,” Salmon Byrne said.
A MILESTONE YEAR
This year’s list includes the largest first-time class in the recognition’s history, with 19 companies making the list for the first time, while six companies have now been honoured every year since the recognition began. The six companies honoured every year for the last 20 years include:
- Aflac, Inc.
- Ecolab
- International Paper Company
- Kao Corporation
- Milliken & Company
- PepsiCo Inc.
The 19 first-time honourees are:
- Alcon Laboratories, Inc.
- Amgen Inc.
- AtkinsRéalis
- Bunge Limited
- CME Group
- Compass Group PLC
- DocGo
- Ferrara Candy
- Gilead Sciences Inc.
- Graphic Packaging International, Inc.
- Grupo Ferrer Internacional S.A.
- Itron Inc.
- LabCorp
- Lear Corporation
- Marvell Technology Group Ltd.
- Motiva Infraestrutura de Mobilidade S.A.
- Sanofi
- The William Carter Company (Carter’s Inc.)
- UST Global
ETHICS AS A DRIVER OF PERFORMANCE & GROWTH
Across industries, leaders consistently tied ethical behaviour directly to long-term business performance. AECOM, Chief Legal Officer David Gan said: “Our commitment to good ethics has been a pillar of our strong performance… enabling us to manage risk, honour trust,and empower our people.”
Chairman and CEO of AECOM, Troy Rudd, added that ethics is embedded operationally:
“Safety, ethics and quality guide how we work… reflecting our global teams’ commitment to integrity and accountability.”
At Kimberly-Clark, the connection between ethics and transformation was equally clear. “Doing what is right is fundamental to driving long-term, sustainable growth,” said Jeff Melucci, highlighting the company’s ongoing transformation.
Similarly, Principal Financial Group’s CEO Deanna Stable described ethics as a competitive advantage: “Doing what’s right – consistently and authentically – is both a competitive strength and a fundamental part of our culture.”
IMPORTANCE OF TRUST
For many honourees, ethics is inseparable from trust, particularly in customer-facing industries. At Fifth Third, CEO Tim Spence said the recognition reflects “our dedication to doing what’s right… and our deep commitment to the communities we serve.”
Fifth Third’s Chief Risk Officer Bob Shaffer added: “Our colleagues’ commitment… strengthens our risk culture and reinforces the trust placed in us.”
At U.S. Bank, CEO Gunjan Kedia echoed that sentiment: “This recognition reflects the unwavering commitment of our team to doing the right thing… every single day.”
In insurance, The Hartford emphasised long-term trust as foundational. “Ethical leadership is essential to building trust and delivering long-term value,” said Chief Ethics Officer Karmela Malone.
At Pacific Life, CEO Darryl Button pointed to generational responsibility: “Our values are embedded in every decision… ensuring we uphold our long-term promises and provide confidence for generations.”
PURPOSE-DRIVEN ORGANISATIONS
Healthcare and life sciences companies highlighted ethics as central to care, access and social responsibility. At DocGo, CEO Lee Bienstock said: “We placed trust at the core of everything we do… from patient care to safeguarding sensitive information.”
DocGo’s Chief Compliance Officer Stephen Sugrue emphasised practical implementation: “Our programme is designed to be practical and transparent… so doing the right thing remains the easiest thing for every employee.”
At HCA Healthcare, CEO Sam Hazen said: “Our commitment to doing what is right for our patients and colleagues is embedded in how we operate.”
And at Henry Schein, CEO Fred M. Lowery pointed to long-standing values: “A strong culture of integrity and purpose defines Team Schein… and will continue to guide us.”
ETHICS & SOCIAL IMPACT
For Ferrer, ethics is explicitly tied to social impact. “We use business to fight for social justice… building a company guided by integrity and responsibility,” said CEO Mario Rovirosa.
Ferrer’s Chief Compliance Officer Meritxell Casas added: “Our ethics go beyond regulatory compliance… reinforcing transparency and responsibility in everything we do.”
INNOVATION & ETHICS
As industries evolve, companies are increasingly linking ethics to innovation, particularly in AI and digital transformation. At Aptiv, CEO Kevin Clark said: “Doing the right thing, the right way is foundational… as we develop AI-enabled technologies and mission-critical systems.”
At Western Digital, Chief Compliance Officer Joe Santosuosso noted: “Ethical leadership is essential to building lasting trust in today’s technology landscape.”
And at ManpowerGroup, CEO Jonas Prising connected ethics directly to the future of work: “As AI reshapes industries… our responsibility is to build a future of work that expands opportunity and preserves dignity.”
Chief Sustainability Officer Ruth Harper added: “Ethics shows up in the moments that matter… protecting data, using AI responsibly, and ensuring fair practices.”
INTEGRITY & CORPORATE RESPONSIBILITY
Many honourees emphasised that ethics is not driven by policy alone, but by people. At U. S. Steel, CEO David Burritt said: “Integrity isn’t a slogan; it’s how we operate every shift, every day.”
Senior leaders reinforced that message. “This recognition reflects our employees’ dedication to integrity,” said Scot Duncan, while Chief Compliance Officer Victoria McKenney called it “a testament to a robust culture of ethics.”
At CHS, CEO Jay Debertin highlighted employee commitment: “Our employees’ commitment to ethical conduct makes this recognition possible.”
At Paychex, CEO John Gibson said: “This reflects our unwavering commitment to integrity and corporate responsibility.”
Paychex’s Chief Ethics Officer Prabha Sipi Bhandari added: “Our goal has always been simple: do the right thing, the right way.”
At Oshkosh Corporation, ethics is framed in everyday behaviour. “Ethical leadership is about the choices we make every day,” said Ignacio Cortina.
ETHICS & LONG-TERM SOCIETAL IMPACT
In infrastructure and energy, ethics is tied to reliability and long-term societal impact. At Xcel Energy, CEO Bob Frenzel said: “Our teams uphold the highest standards as we build the grid of the future and serve our communities.”
At Avangrid, CEO Jose Antonio Miranda added: “This recognition is a powerful affirmation of who we are… leading with integrity as we drive the energy industry forward.”
In agriculture, ADM CEO Juan Luciano said: “Our teams work every day with honesty and integrity… strengthening our culture and accountability.”
HOW TO STRENGTHEN ETHICAL PERFORMANCE
So what can other companies learn from the 2026 honourees? Here are a few pointers to strengthen ethical performance.
- Make ethics strategic: The most successful companies embed integrity into business decisions, not just compliance frameworks.
- Build systems that support behaviour: Training, reporting channels and leadership accountability make ethics actionable.
- Protect trust as a core asset: Reputation, data and relationships are central to long-term value.
- Stay consistent under pressure: Leading companies maintain values even as external conditions shift.
- Continuously measure and improve: Benchmarking and assessment remain essential.
- Recognise culture as a performance driver: Strong ethical cultures translate into resilience and results.
WHY IT MATTERS
As intangible assets dominate corporate value and stakeholder expectations continue to rise, the 2026 World’s Most Ethical Companies demonstrate that ethics is no longer peripheral, but central to performance, resilience and long-term success.
In short, “companies with strong ethics… are built for better long-term performance,” concluded Salmon Byrne.
THE WORLD’S MOST ETHICAL COMPANIES OF 2026
The World’s most Ethical Companies of 2026 (in alphabetical order) include:
- A.O. Smith (3-time honouree)
- Accenture (19-time honouree)
- ADM (7-time honouree)
- AECOM (10-time honouree)
- AES (13-time honouree)
- Aflac Incorporated (20-time honouree)
- Alcon (1-time honouree)
- Allianz Life Insurance Company of North America (7-time honouree)
- Allstate (12-time honouree)
- Amgen Inc. (1-time honouree)
- Anywhere Real Estate Inc. – now part of Compass International Holdings (15-time honouree)
- Aptiv PLC (14-time honouree)
- Assurant (3-time honouree)
- AtkinsRéalis Group Inc. (1-time honouree)
- Autodesk Inc. (3-time honouree)
- Avangrid (8-time honouree)
- Best Buy Co., Inc. (12-time honouree)
- BMO (9-time honouree)
- Booz Allen (7-time honouree)
- Bunge (1-time honouree)
- Capgemini (14-time honouree)
- CareFirst BlueCross BlueShield (14-time honouree)
- Carter’s Inc. (1-time honouree)
- CBRE (13-time honouree)
- Cemex, S.A.B. de C.V. (2-time honouree)
- Charoen Pokphand Group (6-time honouree)
- CHS Inc. (2-time honouree)
- Clarios (4-time honouree)
- CME (1-time honouree)
- Cognizant Technology Solutions (2-time honouree)
- Colgate Palmolive (16-time honouree)
- Compass Group PLC (1-time honouree)
- Cummins Inc. (17-time honouree)
- Dell Technologies (14-time honouree)
- DocGo (1-time honouree)
- Eaton (15-time honouree)
- Ecolab Inc. (20-time honouree)
- EDP, SA (15-time honouree)
- Eli Lilly and Company (20-time honouree)
- FedEx Corporation (4-time honouree)
- Ferrara Candy Company (1-time honouree)
- Ferrer (1-time honouree)
- Fifth Third Bank (7-time honouree)
- Flex (4-time honouree)
- Fortive Corporation (2-time honouree)
- Frontera Energy (6-time honouree)
- General Motors (7-time honouree)
- Genpact (8-time honouree)
- Gilead (1-time honouree)
- Graphic Packaging International (1-time honouree)
- Grupo Bimbo (10-time honouree)
- HCA Healthcare, Inc. (16-time honouree)
- HCLTech (3-time honouree)
- Henry Schein, Inc. (15-time honouree)
- Hewlett Packard Enterprise (8-time honouree)
- HP Inc. (7-time honouree)
- Hubbell Incorporated (6-time honouree)
- Iberdrola S.A. (13-time honouree)
- IBM (8-time honouree)
- Infosys Ltd (6-time honouree)
- Ingredion (12-time honouree)
- Intel Corporation (16-time honouree)
- International Paper (20-time honouree)
- Itron, Inc (1-time honouree)
- JLL (19-time honouree)
- John Deere (19-time honouree)
- Johnson Controls (19-time honouree)
- Kao Corporation (20-time honouree)
- Kimberly-Clark (11-time honouree)
- L’Oréal (17-time honouree)
- Lab Corp (1-time honouree)
- Lam Research (4-time honouree)
- Lear Corporation (1-time honouree)
- Leidos (9-time honouree)
- Lincoln Electric (8-time honouree)
- Lincoln Financial (5-time honouree)
- Linde plc (8-time honouree)
- Lonza Group (5-time honouree)
- Magna International Inc. (5-time honouree)
- Manpower Group (17-time honouree)
- Marvell (1-time honouree)
- Mastercard International Incorporated (11-time honouree)
- Medtronic (4-time honouree)
- Micron Technology (4-time honouree)
- Milliken & Company (20-time honouree)
- Motiva Infraestrutura de Mobilidade S.A. (1-time honouree)
- Natura Cosméticos S.a (15-time honouree)
- Noblis (14-time honouree)
- Nokia (10-time honouree)
- Northwell Health (11-time honouree)
- nVent (3-time honouree)
- Oshkosh Corporation (11-time honouree)
- Pacific Life (9-time honouree)
- Parsons Corporation (17-time honouree)
- Paychex, Inc. (18-time honouree)
- PepsiCo, Inc. (20-time honouree)
- Pfizer Inc (5-time honouree)
- Premier, Inc. (19-time honouree)
- Principal Financial Group® (15-time honouree)
- Progreso (13-time honouree)
- Prudential Financial (12-time honouree)
- Republic Services (8-time honouree)
- Rockwell Automation (18-time honouree)
- Royal Caribbean Group (11-time honouree)
- Salesforce, Inc. (17-time honouree)
- Sanofi (1-time honouree)
- Schneider Electric (15-time honouree)
- SeAH Holdings (3-time honouree)
- SERTECPET S.A. (6-time honouree)
- ServiceNow, Inc. (3-time honouree)
- Signet Jewelers (2-time honouree)
- SK Hynix (2-time honouree)
- Sodexo (3-time honouree)
- Sony Group Corporation (8-time honouree)
- Southwire Company, LLC (3-time honouree)
- TE Connectivity (12-time honouree)
- The Goodyear Tire & Rubber Company Sodexo (3-time honouree)
- The Hartford (12-time honouree)
- The J.M. Smucker Co. (3-time honouree)
- The Timken Company (15-time honouree)
- Thrivent (15-time honouree)
- TIAA (12-time honouree)
- Trane Technologies (3-time honouree)
- TrueBlue Inc. (2-time honouree)
- U.S. Bank (12-time honouree)
- United States Steel Corporation (5-time honouree)
- Unum Group (6-time honouree)
- UST (1-time honouree)
- Verizon (3-time honouree)
- Visa, Inc. (14-time honouree)
- W.W. Grainger, Inc. (2-time honouree)
- WD (8-time honouree)
- WM (17-time honouree)
- Workday (6-time honouree)
- Xcel Energy (7-time honouree)
- Zimmer Biomet (2-time honouree)
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