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IBM, Intel, Pepsi Top Ethics Rankings

IBM, Intel and PepsiCo have topped rankings of companies with the most ethical reputations.

The EthicalQuote rankings by Swiss company Covalence score 581 companies in 18 sectors, through the quantities of positive and negative news stories about each company.

Covalence describes the system as “a barometer of how multinationals are perceived in the ethical field”.

EthicalQuote evaluates companies on 45 criteria including waste management, products’ social utility, labor standards and human rights policy.

Covalence gathers news items from the media, blogs, non-profits and companies themselves. This data is aggregated, quantified and synthesized. Data used covers the years from 2002 to December 2010.

This year five of the top ten companies were technology firms. They were IBM (1st overall), Intel (2nd), Cisco (4th), Xerox (8th) and Dell (10th).

Three companies are in the food and beverage sector: PepsiCo (3rd), Unilever (5th) and Kraft (6th). The other represented sectors are personal and household goods (Procter & Gamble, ranked seventh) and industrial goods and services (General Electric, ranked ninth).

­Aluminum company Alcoa achieved the top spot in the Basic Resources category, as it has since the rankings began in 2005. Alcoa placed 15th overall.

“To be ranked number one in our industry in the 2010 Covalence rating confirms the values and integrity Alcoans have embodied for years,” Alcoa chairman and CEO Klaus Kleinfeld said.

IBM and Intel both did well in Newsweek’s environmental rankings of the 500 largest U.S. companies, but came in seventh and eight in Greenpeace’s Cool IT leaderboard.

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2 thoughts on “IBM, Intel, Pepsi Top Ethics Rankings

  1. On Alcoa, your 2011 rankings should note the following jury verdict against it for fraud.

    From local St Croix paper:

    ST. CROIX – A jury awarded St. Croix Renaissance Group more than $28.7 million in damages Thursday in U.S. District Court, finding that St. Croix Alumina failed to disclose toxic “red mud” on the property it sold in 2002, court files show.

    The massive judgement dates back to 2004, when the case first was filed – the same year the V.I. Department of Planning and Natural Resources filed a suit against a number of former aluminum manufacturers for environmental damages caused by the red mud – a toxic by-product of turning bauxite ore into alumina.

    One of those manufacturers was St. Croix Alumina, which is a subsidiary of Alcoa Inc., the worldwide aluminum company.

    The trial spanned 10 days before District Judge Harvey Bartle III.

    St. Croix attorneys Joel Holt and Carl Hartmann III represented Renaissance.

    St. Croix Alumina was ordered to pay St. Croix Renaissance Group $12,617,867 for a breach of warranty and fraud, another $6,142,856 for punitive damages and an additional $10 million for negligence. The total amount awarded is $28,742,723.

    The case concerns a 1,400-acre property now owned by the St. Croix Renaissance Park. It went from comprising commercial plantations in the 18th century to becoming the center of a manufacturing hub in 1962, when Harvey Aluminum Corp. began developing the property to begin manufacturing aluminum, according to the St. Croix Renaissance Group’s Web site. During the next 40 years, a number of aluminum-manufacturing companies took over the site, the last company to do so being St. Croix Alumina.

    St. Croix Renaissance Group purchased the property in 2002. It dismantled the processing units with the intention of rehabilitating the site for industrial use.

    Currently, Diageo’s site is on part of the St. Croix Renaissance Group’s property.

    The civil complaint claims St. Croix Alumina failed to disclose the prior releases of red mud from 1992 through just before the purchase in 2002, as was stipulated in a warranty on the purchasing contract. The complaint also asserts that St. Croix Alumina fraudulently covered up the releases and tried to avoid oversight by DPNR.

    After St. Croix Renaissance Group found evidence of a “red mud event” in April 2002, before the contract was signed, St. Croix Alumina officials told the prospective purchasers that it was a “one time” incident knowing that to be false, the complaint said.

    St. Croix Renaissance Group claimed that such cover-ups took place throughout the discovery process while they reviewed the purchase of the property.

    Read more: http://virginislandsdailynews.com/news/renaissance-group-awarded-28-7-million-1.1093496#ixzz1DJLVyr2y

    From recent Alcoa 10k filing:

    Item 8.01. Other Events.
    On April 23, 2004, St. Croix Renaissance Group, L.L.L.P., Brownfield Recovery Corp., and Energy Answers Corporation of Puerto Rico (collectively referred to as “SCRG”) filed a suit against St. Croix Alumina L.L.C. and Alcoa World Alumina, L.L.C. (collectively referred to as “SCA”) in the Territorial Court of the Virgin Islands, Division of St. Croix for claims related to the sale of SCA’s former St. Croix alumina refinery to plaintiffs. SCA thereafter removed the case to federal court and after a several year period of discovery and motion practice, a jury trial on the matter took place in St. Croix from January 11, 2011 to January 20, 2011. The jury returned a verdict in favor of plaintiffs and awarded damages as described: on a claim of breaches of warranty, the jury awarded $12,617,867; on the same claim, the jury awarded punitive damages in the amount of $6,142,856; and on a negligence claim for property damage, the jury awarded $10,000,000. SCA believes the verdict is, in whole or in part, not supported by the evidence or otherwise results from errors of law committed during the trial. As a result, SCA will file motions, including for judgment notwithstanding the verdict and, to the extent such post-trial motions are not successful, it intends to pursue its rights of appeal

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