Ninety-nine corporations were named as the world's most ethical recently. The Ethisphere Institute released its third annual listing designed to encourage ethical practices within the global business community. The companies, coming from 35 different industries, include Nike Inc, Honeywell International Inc, BMW Bayerische Motoren Werke AG, Patagonia, Johnson Controls Inc and HSBC Holdings PLC.

Ethisphere Institute's executive director, Alex Brigham, was reported to have said, "The mission of our group is to improve corporate behavior." Brigham added that the companies are chosen against their peers within their industry, as each industry operates under different circumstances. 

The rankings are said to be based on factors that include innovation, contribution to the public's wellbeing, and the use of fewer resources. They also are judged on corporate governance, legal and regulatory reputation and track record, executive leadership, industry leadership, and internal systems and ethics compliance programs.

Brigham was reported to have said that there was no specific definition of the term 'ethical' for the rankings.

This year's group features 22 first-time recipients, including Dell Inc, Thomson Reuters Corp, Best Buy Co Inc and T-Mobile International AG & Co KG. Of the companies on the list, 44 are on it for the third time. They include General Electric Co, American Express Co, PepsiCo Inc, McDonald's Corp, Starbucks Corp and IKEA AB. Some, such as Nike have demonstrated a will to correct past mistakes, Brigham said.

Ethisphere Institute, an international think-tank based in New York, is dedicated to the advancement of best practices in business ethics, corporate social responsibility, anti-corruption and sustainability. 

The full list of companies can be found at www.ethisphere.org/wme2009.