What makes a company ‘ethical’? At Latinometrics, we believe that’s tricky to measure and perhaps even tougher to rank. Still, the ranking company Etisphere takes a stab at it every year with its “World’s Most Ethical Companies” list. We found the above five Latin American companies in their ranking for this year. We decided to zoom into the business practices of the top two to understand what earns these companies a spot.
Brazilian beauty brand Natura & Co has appeared on Etisphere’s list for 12 years. Its most recent “Sustainability Vision 2030” focuses on three goals: to address the climate crisis, defend human rights, and embrace circularity and regeneration (or cutting down waste). The company insists on consistent principles across its brands: Avon, Natura, The Body Shop, and Aeso. Its commitment to the environment and human rights doesn’t stop it from making a lot of money; last year, it brought in almost $8B in revenue. If you like its mission, you can buy its stock on the NYSE.
In 2011, Cementos Progreso became the first Guatemalan company to join the United Nation’s Global Compact, a pact to “encourage businesses and firms worldwide to adopt sustainable and socially responsible policies.” The company has had reforestation efforts in Guatemala since 1930 and in 1985 introduced a formal commitment called “Agrobosques,” planting more than 2M trees each year. Employees at the cement plants may run into an iguana or two on their way to their stations; at Cementos Progreso, diverse species of plants and animals live undisturbed — another effort by the company to promote biodiversity.