Duke Energy Again Selected 'Most Ethical'

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Mar 26, 2010, 01:00 ET

CHARLOTTE, N.C., March 26 /PRNewswire-FirstCall/ -- For the fourth year in a row, Duke Energy (NYSE: DUK) has been named one of the World's Most Ethical Companies by Ethisphere Institute.

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Ethisphere is an international think tank focused on advancing best practices in business ethics, social responsibility, anti-corruption and sustainability.

Only 100 companies were selected to receive this honor. Recipients include General Electric, Google, American Express and Nike. Companies in the energy and utilities category were Duke Energy, FPL Group, National Grid, Sempra Energy and Wisconsin Energy Corp.

"Being recognized as one of the world's most ethical companies speaks to the hard work and dedication of leaders and employees who practice our business values every day," Jeff Browning, vice president, Audit Services and Chief Ethics and Compliance Officer. "The award is another reminder that 'how' we do business is as important as 'what' we achieve."

Ethisphere reviewed nominations from companies in more than 100 countries and 36 industries to determine the winners. The process included the review of companies' codes of ethics, litigation and regulatory infraction histories, their investment in innovation and sustainable business practices, and activities to improve corporate citizenship.

The 2010 World's Most Ethical Companies have outperformed the S&P 500 by delivering a 53 percent return to shareholders since 2005 -- compared to the S&P's four percent shareholder loss over the same period. In addition to improving a company's bottom line, a strong ethics program has shown to lead to increased consumer loyalty, regulatory leniency in the event of a transgression and stronger employee retention rates.

Duke Energy is one of the largest electric power holding companies in the United States. Its regulated utility operations serve approximately 4 million customers located in five states in the Southeast and Midwest, representing a population of approximately 11 million people. Its commercial power and international business segments own and operate diverse power generation assets in North America and Latin America, including a growing portfolio of renewable energy assets in the United States.

Headquartered in Charlotte, N.C., Duke Energy is a Fortune 500 company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available on the Internet at: www.duke-energy.com.