Many companies do good things, but only a select few are recognized each year in an annual ranking of the world’s most ethical companies.

Included in the ranking are five Canadian businesses that are proven to have the strongest ethics in the country and worldwide.

This ranking is released annually by Ethisphere, a company that specializes in corporate ethical standards.

It’s designed to “showcase the superior achievements of organizations that are committed to doing business with ethics and integrity,” according to the website.

This year’s list of honorees includes 135 organizations from 19 countries and 46 industries.

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Each company undergoes a rigorous screening process in order to qualify.

The ranking bases its findings on five key metrics — Leadership & Reputation, Governance, Ethics & Compliance Program, Culture of Ethics, and Environmental & Social impact.

In addition to this, companies must answer a detailed questionnaire and supply additional documents that will be reviewed for their final score.

These Canadian businesses are ranked the world’s most ethical companies for 2023:

  • BMO — Bank
  • Capital Power — Energy & Utilities
  • Covenant Health — Healthcare Providers
  • Frontera Energy Corporation — Oil and Gas, Renewables
  • Magna International Inc. — Automotive

These companies outperform their competitors, not only for their unwavering commitment to doing the right thing but also for their financial success.

And when it comes to world-class ethical standards, these companies are far ahead of the game.