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Ethisphere Institute Honors Ethical Behavior of Petco, Other Companies

Posted: March 26, 2013, 6:50 p.m. EDT

Petco has been named one of the World's Most Ethical Companies for 2013 and was the only pet-related company to make the list, the Ethisphere Institute reported today.

The San Diego-based retail giant was honored for the second year in a row based on its business ethics, corporate governance, commitment to sustainable business practices and social responsibility.

“We've always been committed to doing the right thing for our customers, associates, partners, companion animals and the communities we serve,” Petco CEO Jim Myers said.

Founded in 1965, Petco did more than $3 billion in business in 2012.
Ethisphere, a New York think tank that pushes for best practices in business ethics, corporate social responsibility, anti-corruption and sustainability, selected the World's Most Ethical Companies from among nominees representing more than 100 countries and 36 industries.

The organization reviewed codes of ethics, examined litigation and regulatory infraction histories, evaluated investments in innovation and sustainable business practices, looked at activities designed to improve corporate citizenship, and accepted input from senior executives, industry peers, suppliers and customers.

More companies applied for recognition than in any year since the program's launch in 2007, said Alex Brigham, executive director of Ethisphere. A record 145 companies made the list, including 43 headquartered outside the United States.

The heightened interest, Brigham said, “demonstrates that ethical activity is an important part of many of these companies' business models, but we are also seeing more companies be proactive and create new initiatives that expand ethics programs and cultures across entire industries.”

Petco operates more than 1,200 stores across the United States and Puerto Rico.

The company's Petco Foundation has raised more than $110 million since 1999 on behalf of companion animals. The company and foundation also support local animal welfare groups through in-store adoption events.


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