GRUPO BIMBO IS NAMED ONE OF “THE WORLD’S MOST ETHICAL COMPANIES” FOR THE SEVENTH YEAR IN A ROW BY ETHISPHERE
March 15, 2023 - Grupo Bimbo, the largest baking company in the world, has been recognized for the seventh consecutive year as one of the “World’s Most Ethical Companies,” according to an analysis conducted by Ethisphere, the global leader in the definition and promotion of ethical corporate standards. In the 2023 edition, 135 companies from 19 countries and across 48 industries were listed.
Ethisphere recognized Grupo Bimbo because of its commitment to ethical corporate practices, which have a positive impact on its associates, the communities in which it operates, and other key audiences. Some of the practices the leading bakery supports on a global level to maintain its commitment to integrity are the publication and updating of its Code of Ethics. In this Code, the highest standards of conduct are established for behavior inside and outside the organization, as well as guidelines for the interaction of interest groups.
Similarly, the company has a Global Integrity Policy, the guidelines of which ensure that anti-corruption laws are understood and complied with. Additionally, in its Global Agriculture Policy, the company shares its vision of practices that support economic, environmental, and social resilience, with a commitment to promote these practices through the entire value chain.
Ignacio Stepancic, Global Compliance Leader, said: “For Grupo Bimbo, acting with integrity is a priority. All of us who are a part of this great family are trained and sensitized in the importance of normative compliance because we are convinced that being a global ethical company is an everyday task and one for each person that works here. This year, we are the only Mexican company in the listing, and it is undoubtedly a milestone of which we are very proud. We hope that more companies apply to Ethisphere and are recognized for how they act toward their different stakeholders.”
Erica Salmon Byrne, Ethisphere’s CEP, added: “Ethics matters. Organizations that commit to business integrity through robust programs and practices not only elevate standards and expectations for all, but also have better long-term performance,” said Ethisphere CEO, Erica Salmon Byrne. “We continue to be inspired by the World’s Most Ethical Companies honorees and their dedication to making real impact for their stakeholders and displaying exemplary values-based leadership. Congratulations to Grupo Bimbo for earning a place in the World’s Most Ethical Companies community.”
Methodology and scoring used by Ethisphere Institute
Based on the Ethics Quotient® patented by Ethisphere, the evaluation process for the World’s Most Ethical Companies includes over 200 questions about culture, environmental and social practices, ethical activities and compliance, governance, diversity, and initiatives to support a solid value chain. The process serves as an operational framework to detect and standardize the best practices of organizations in all sectors around the world.
The complete list of the World’s Most Ethical Companies 2023 can be found at: https://worldsmostethicalcompanies.com/honorees.
About Grupo Bimbo
Grupo Bimbo is the leader and largest baking Company in the world and a relevant participant in snacks. Grupo Bimbo has 214 bakeries and plants and more than 1,600 sales centers strategically located in 34 countries throughout the Americas, Europe, Asia and Africa. Its main product lines include sliced bread, buns & rolls, pastries, cakes, cookies, toast, English muffins, bagels, tortillas & flatbreads, salty snacks and confectionery products, among others. Grupo Bimbo produces over 10,000 products and has one of the largest direct distribution networks in the world, with more than 3.3 million points of sale, more than 55,000 routes and over 141,000 associates. Its shares trade on the Mexican Stock Exchange (BMV) under the ticker symbol BIMBO, and in the over-the-counter market in the United States with a Level 1 ADR, under the ticker symbol BMBOY.
Ethisphere is the leader in the definition and advancement of standards for ethical corporate practices that promote corporate character, market trust, and corporate success. Ethisphere has extensive experience in the measurement and definition of ethical standards through the use of data that help companies improve their corporate character and to measure and improve their culture. Ethisphere honors these achievements through its program for the recognition of The World’s Most Ethical Companies, which provides a community of experts in the industry with the Business Ethics Leadership Alliance (BELA) and shows tendencies and better practices in ethics with Ethisphere Magazine. Ethisphere also contributes to corporate performance and helps improve business performance through targeting and benchmarking, thanks to its data assessment: the data set of Culture Quotient centers on ethical culture and presents the answers of over 2 million employees from all over the world, and the Ethics Quotient dataset features more than 200 data points highlighting companies' ethics, compliance, social and governance practices of the World’s Most Ethical Companies. For more information, visit https://ethisphere.com.