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HSBC tops ethical bank poll

January 16, 2007 by admin  
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HSBC has been named as the bank with the best ethical reputation, according to a report published by Covalence.

It is the second annual report of its kind compiled by the Geneva-based consultancy and ranked hundreds of firms on a number of key issues.

Companies from ten sectors were included in the study which was put together by studying positive and negative news-flow surrounding a firm over five years.

HSBC was a clear winner in the banks sector, with highlights such as choosing to go carbon neutral in January 2006 and being named overall winner in the 2006 FT Sustainable Banking Awards helping its case.

The award tops a fantastic year for the organisation and has been well received by company insiders.

“The Covalence report is an important barometer of how multinationals are perceived in the ethical field and HSBC is delighted to have been recognised in this way,” said Francis Sullivan, HSBC’s advisor on the environment.

Other winners include Toyota, which topped the automobile sector, and BP, which was awarded in the oil and gas division.

Alcoa also scored highly ahead of Starbucks, which ranked third overall, with the most ethical company across all sectors being named as Unilever.

Tags: geneva, Unilever, company, carbon, important barometer, ethical field, Ethical, Sullivan

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