A business ethics institute named Ethisphere has released its annual list of the 99 “World’s Most Ethical Companies.” We have to take exception to some of their choices.

We’re sort of stunned that some companies made this list, considering how many times they’ve been the subject of horror stories on Consumerist. In fact, 8 of the companies on Ethisphere’s list made our Worst Company in America bracket: Target, American Express, HP, T-Mobile, Best Buy, General Electric, Dell, and Starbucks. Time Warner, which until recently owned another WCIA company, Time Warner Cable, also made the list.

According to Ethisphere, the process for getting included on their list of ethical companies includes the companies applying for inclusion and filling out a survey of their ethical practices. These are reviewed by Ethisphere and the companies are judged in the following categories: “Corporate Citizenship and Responsibility; Corporate Governance; Innovation that Contributes to the Public Well Being; Industry leadership; Executive Leadership and Tone from the Top; Legal, Regulatory and Reputation Track Record; and Internal Systems and Ethics/Compliance Program.”

Not included as a category: Whether the Company Steals Your Porn When You Bring in Your Computer for Service.

2009 World’s Most Ethical Companies [Ethisphere]
(Photo: lupzdut)

Want more consumer news? Visit our parent organization, Consumer Reports, for the latest on scams, recalls, and other consumer issues.