CLEVELAND, Wednesday, February 24, 2021 – Lincoln Electric® Holdings Inc., (NASDAQ: LECO) has been recognized by Ethisphere, a global leader in defining and advancing the standards of ethical business practices, as one of the 2021 World’s Most Ethical Companies.
Lincoln Electric® has received this distinction for four consecutive years and is the only honoree in the Machine Tools and Accessories industry. In 2021, 135 honorees were recognized spanning 22 countries and 47 industries.
“We are proud to operate by a higher standard with a longstanding commitment to integrity and ethics in all that we do,” said Christopher L. Mapes, Lincoln Electric®’s Chairman, President and Chief Executive Officer. “Our guiding principle is The Golden Rule and it has shaped our business and the trust we have earned from all of our stakeholders.” Mapes continued, “We are honored that our team’s unwavering perseverance and commitment to our values was recognized by Ethisphere again this year.”
Grounded in Ethisphere’s proprietary Ethics Quotient®, the World’s Most Ethical Companies assessment process includes more than 200 questions on culture, environmental and social practices, ethics and compliance activities, governance, diversity and initiatives to support a strong value chain. The process serves as an operating framework to capture and codify the leading practices of our organizations across industries and around the globe.
This year, the process was streamlined and the question set expanded to gauge how applicants are adapting and responding to the global health pandemic, environmental, social and governance factors, safety, equity, and inclusion and social justice.
“While addressing the tough challenges of 2020, we saw companies lead – above all other institutions – on earning the trust of stakeholders through resilience and a commitment to ethics and integrity,” said Ethisphere CEO, Timothy Erblich. “The World’s Most Ethical Companies honorees continue to demonstrate an unwavering commitment to the highest values and positively impacting the communities they serve. Congratulations to everyone at Lincoln Electric® for earning the World’s Most Ethical Companies designation.”