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Blue Shield of California Named One of the 2024 World's Most Ethical Companies® for the 12th Time

Monday, March 04, 2024 07:45 PM | PR Newswire via QuoteMedia

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Blue Shield of California Named One of the 2024 World's Most Ethical Companies® for the 12th Time
Blue Shield of California Named One of the 2024 World's Most Ethical Companies® for the 12th Time

PR Newswire

This annual recognition highlights organizations that have demonstrated a commitment to business integrity through robust ethics, compliance and governance programs

OAKLAND, Calif. , March 4, 2024 /PRNewswire/ -- Blue Shield of California has received the 2024 World's Most Ethical Companies ® recognition by Ethisphere, a global leader in defining and advancing the standards of ethical business practices.

The nonprofit health plan has received this recognition for the 12 th time. In 2024, 136 honorees were recognized spanning 20 countries and 44 industries.

"One of Blue Shield of California's strategic pillars is to stand for what's right," said Venetia Marshall, vice president, chief risk and compliance officer at Blue Shield of California . "That means ethical behavior is an integral part of our company's DNA and we believe that will help us reach our vision of creating a healthcare system worthy of our family and friends."

Blue Shield is a nonprofit health plan driven by its mission of providing access to quality health care that's sustainably affordable for everyone. The company and its employees also continue to be at the forefront of responding to major health and social issues.

"It's always inspiring to recognize the World's Most Ethical Companies ® . Through the rigorous review process, we see the dedication of these organizations to continually improving their ethics, compliance, and governance practices to the benefit of all stakeholders," said Erica Salmon Byrne , chief strategy officer and executive chair at Ethisphere. "Companies that elevate best-in-class cultures of ethics and integrity set a standard for corporate citizenship for their peers and competitors to follow. Congratulations to Blue Shield of California for achieving this honor and demonstrating that strong ethics is good business."

Ethics and Performance: The Ethics Premium
The 2024 World's Most Ethical Companies ® honorees outperformed a comparable index of global companies by 12.3 percentage points from January 2019 to January 2024 .

Methodology and Scoring
The World's Most Ethical Companies ® assessment is grounded in Ethisphere's proprietary Ethics Quotient ® , an extensive questionnaire that requires companies to provide over 240 different proof points on their culture of ethics; environmental, social and governance (ESG) practices; ethics and compliance programs; diversity, equity and inclusion; and initiatives that support a strong value chain. That data undergoes further qualitative analysis by a panel of experts who spend thousands of hours vetting and evaluating each year's group of applicants. This process serves as an operating framework to capture and codify truly best-in-class ethics and compliance practices from organizations across industries and from around the world.

To view the full list of this year's honorees, visit the World's Most Ethical Companies ® website, at .

About Blue Shield of California
Blue Shield of California strives to create a healthcare system worthy of its family and friends that is sustainably affordable. Blue Shield of California is a tax paying, nonprofit, independent member of the Blue Shield Association with more than 4.8 million members, over 7,500 employees and more than $24 billion in annual revenue. Founded in 1939 in San Francisco and now headquartered in Oakland , Blue Shield of California and its affiliates provide health, dental, vision, Medicaid and Medicare healthcare service plans in California . The company has contributed more than $97 million to Blue Shield of California Foundation in the last three years to have an impact on California communities.

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About Ethisphere
Ethisphere is the global leader in defining and advancing the standards of ethical business practices that strengthen corporate brands, build trust in the marketplace, and deliver business success. Ethisphere has deep expertise in measuring and defining core ethics standards using data-driven insights that help companies build strong cultures of ethics and integrity. Ethisphere honors superior achievement through its World's Most Ethical Companies ® recognition program, provides a community of industry experts with the Business Ethics Leadership Alliance (BELA), and showcases trends and best practices in ethics with Ethisphere Magazine. Ethisphere also advances business performance through data-driven assessments, guidance, and benchmarking against its unparalleled data: the Culture Quotient dataset reflecting the ethical business practices of 3+ million employees around the world; and the Ethics Quotient dataset, featuring 240+ data points on the ethics, compliance, social, and governance practices of the World's Most Ethical Companies. For more information, visit .

Mark Seelig
Blue Shield of California

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SOURCE Blue Shield of California

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