Ethisphere, a research-based Institute in New York ranks the World’s Most Ethical Companies based on its proprietary rating system, the Ethics Quotient (EQ). To record a company’s performance objectively a number of multiple choice questions are put forth to the company. The EQ framework has five core categories – Ethics and Compliance Program (30%), Reputation, Leadership and Innovation (30%), Governance (15%) and Corporate Citizenship and Responsibility (25%).

In 2011, in its latest rankings of World’s most ethical companies, 110 companies from over 3000 in 100 countries made the cut. These included companies like eBay, Gap, Xerox and Adidas. Housing Development Finance Corporation ( HDFC) was the only Indian company figuring in the list.