What are corporate ethical values?
Corporate ethical values form the basis on which organisational culture is built and decision-making in a company is guided. A CSR certificate, CSR audit and GRI CSR report must be aligned with ethical values.
Corporate ethical values are principles that guide an organisation’s behaviour, promoting transparency, integrity, fairness and responsibility. They form the basis for strategic decisions, strengthen stakeholder confidence and promote sustainable development, generating strong relationships and a positive reputation in the market.
Types of corporate ethical values
Among the most important corporate ethical values are:
Integrity: acting with consistency, honesty and fairness.
Integrity, as an ethical value, implies acting consistently between what one thinks, communicates and does. A company with integrity conveys security and generates trust in customers, suppliers and employees.
Transparency: communicating clearly and truthfully.
Transparency refers to providing clear, accessible and accurate information. It avoids misleading practices and encourages openness in communication, which is essential for maintaining lasting relationships based on trust.
Responsibility: accepting commitments and consequences.
Responsibility consists of fulfilling commitments made and accepting the consequences of business decisions, both economically and socially and environmentally.
Respect: valuing human dignity and diversity.
Respect promotes fair and dignified treatment of all people, recognising cultural, gender and thought diversity as a value that enriches the organisation.
Justice: applying criteria of fairness in decisions and relationships.
Justice, as a corporate ethical value, manifests itself in the equitable application of rules and criteria within the company, guaranteeing equal opportunities and avoiding any type of discrimination.
Sustainability: caring for the social and environmental surroundings in operations.
Sustainability reflects companies’ commitment to environmental preservation and social welfare, ensuring that their operations do not compromise the future of coming generations.
Loyalty: fostering trust with employees, customers, and suppliers.
The ethical value of loyalty, both internal and external, strengthens team cohesion and consolidates relationships of trust with customers, suppliers, and strategic partners.
Standards or benchmarks require ethical values
There are several international standards, norms and frameworks that require the incorporation of “ethical values” into management systems. The most relevant are:
Sustainability and CSR standards
- IQNet SR10 Social Responsibility. Demands ethical behaviour and responsible management.
- SGE 21 – Forética. Ethical and socially responsible management system, with clear requirements regarding ethical values in customers, suppliers, employees, investors and the environment.
- EMAS – Eco-Management and Audit Scheme. Promotes values of transparency and continuous environmental improvement.
- GRI (Global Reporting Initiative) Report. The GRI sustainability reporting standards require the disclosure of ethical commitments, anti-corruption practices and social responsibility.
Sustainability and social impact certifications
- Ecovadis: Assesses sustainability, including business ethics, labour practices and human rights.
- SMETA. Social audit methodology that assesses ethical practices at work, working conditions, the environment and business ethics in the supply chain.
- B Corp. Certification that recognises companies with high ethical, social and environmental standards.
- LUCIE Progress. Recognises companies committed to ethical and responsible practices.
ISO and related standards
- ISO 26001 on Social Responsibility. Establishes guidelines on ethical behaviour, transparency, respect for human rights, the environment and fair practices.
- ISO 37001 on anti-bribery management. Requires policies of integrity, honesty and zero tolerance for corruption.
- ISO 9001 Quality. Although it does not directly address ethical values, it promotes principles of transparency, accountability and continuous improvement in relationships with customers and stakeholders.
- ISO 14001 and ISO 45001. These standards promote environmental and social responsibility, linked to ethical values of respect and sustainability.
Most ISO management standards require ethical values, as without integrity and transparency, a robust system cannot be demonstrated.