Petrobras Supplants Exxon in the Top-5
For the third year running, Shell ranks the most sustainable/ethical company, followed by BP and Brazil’s Petrobras, according to a study by the Madrid ethics rating firm Management & Excellence (M&E).
Shell substantially improved from 82% (2005) to 89%. It supports 12 codes of human rights and its board met a record 29 times in 2004, compared with 8 at BP. It offers grievance channels for employees in over 50 countries and is implementing 120 biodiversity projects worldwide. No oil company studied was as transparent as Shell, publishing 13 separate reports on topics ranging from environmental impact to animal testing. Caught in a scandal two years ago for misrepresenting its oil reserves, Shell now publishes a 40-page report on how its reserves calculations comply with SEC guidelines.
See full Press Release.
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