Cutting tool manufacturer Kennametal has been named as one of the World’s Most Ethical Companies by The Ethisphere Institute, an international think-tank dedicated to the creation, advancement and sharing of best practices in business ethics, corporate social responsibility, anti-corruption and sustainability. This is the second year in a row that the company has received this recognition.
A prepared statement from the company explained that Ethisphere reviewed nominations from companies in more than 100 countries and 36 industries. Through in-depth research and a multi-step analysis, Kennametal showcased exemplary standards in its code of ethics, investment in innovation and sustainable business practices as well as its activities designed to improve corporate citizenship, the statement added.
In addition to extensive ethics training and communication with employees, Kennametal’s efforts in the past year included a number of records for the company in:
- Employee engagement, achieved at levels exceeding peer comparisons;
- Talent development, delivering technical training and professional development to the largest number of Kennametal employees, customers and supply-chain partners;
- Safety, including two consecutive months with zero injuries requiring days away or restricted time;
- Community stewardship, including employee volunteerism and fundraising, from participation and support for the United Way in North America, to educational programs and service to community organizations;
- Environmental performance, including ISO 14001 certifications, waste reduction, recycling and management programs across the company’s worldwide supply chain;
- Information technology, including execution of standardized enterprise resource systems and processes; and
- Innovation, consistently exceeding 40 percent of sales derived from new products, which offer at least 20 percent performance improvement.