Is Hershey an Ethical Company?
The Hershey Company, a global confectionery giant, has been recognized for its ethical and responsible business practices, earning the title of a 2015 World's Most Ethical Company by the Ethisphere Institute. This accolade underscores Hershey's commitment to maintaining high standards in corporate ethics and social responsibility.
Ethisphere Institute's Recognition
The Ethisphere Institute, a recognized leader in defining and advancing the standards of ethical business practices, conducts an annual assessment to identify top companies that demonstrate leading practices for ethical business culture and responsible leadership. The recognition awarded to Hershey underlines the company's strong ethical framework and its dedication to transparency, accountability, and sustainability in all its operations.
Key Ethical Initiatives
Hershey's ethical practices are not just a fleeting trend but a cornerstone of its business strategy. The company has implemented several initiatives aimed at ensuring fairness and responsibility in every aspect of its operations. Some notable efforts include:
Sustainable Cocoa Sourcing
Hershey has made significant strides in promoting sustainable cocoa sourcing. The company aims to source 100% of its cocoa from certified sustainable sources by 2025. This initiative includes working with farmers to improve their economic well-being, ensuring fair trade practices, and promoting child labor-free cocoa farms. By focusing on sustainable cocoa, Hershey is not only ensuring the quality and safety of its products but also contributing to the long-term welfare of cocoa-growing communities.
Human Rights and Labor Standards
Hershey is committed to upholding the rights and well-being of its employees, suppliers, and communities. The company adheres to strict human rights policies and labor standards. This commitment is reflected in Hershey's Global Human Rights Policy, which outlines clear guidelines for respecting and protecting human rights throughout its supply chain. Hershey's measures to combat forced labor and child labor reflect its dedication to creating a safe and fair working environment for all individuals involved in the cocoa and confectionery supply chain.
Community Engagement and Philanthropy
In addition to ethical business practices, Hershey has a strong tradition of community engagement and philanthropy. The company's Albert E. Brooks Foundation supports a wide range of initiatives aimed at enhancing the quality of life in communities where Hershey operates. These philanthropic efforts include educational programs, health initiatives, and projects that promote environmental sustainability. By investing in local communities, Hershey not only strengthens its relationship with stakeholders but also contribute to positive societal change.
Conclusion
The recognition by the Ethisphere Institute is a testament to Hershey's unwavering commitment to ethical practices and corporate social responsibility. By prioritizing sustainable sourcing, upholding strict labor and human rights standards, and engaging in impactful philanthropy, Hershey sets a positive example for other companies to follow. It is clear that Hershey is an ethical company that not only meets but exceeds the expectations of stakeholders and the broader society.