News Releases
Solae Joins Business Ethics Leadership Alliance to Promote Core Business Ethics Values
ST. LOUIS, July 30, 2009 — Solae, LLC today announced that it has joined the Business Ethics Leadership Alliance (BELA), a groundbreaking initiative founded by The Ethisphere Institute that promotes ethical business practices. Solae has aligned itself with other BELA members, some of the most well-known and highly respected brands in the world, to encourage openness, transparency, responsibility and accountability.
"At Solae, we have always held the highest ethical standards and commitment to our customers and business partners," said Cornel Fuerer, vice president, general counsel and chief compliance officer — Solae. "Becoming a part of BELA reinforces our historical commitment to business ethics and aligns with our core value of ethical behavior. We are excited about this opportunity to join other companies that also recognize the connection between ethical business behavior and strong operating performance and brand."
BELA seeks to establish a benchmark framework for ethical behavior in the corporate world by focusing on four core values:
- Legal Compliance — Following both the letter and spirit of the law to counter fraud, corruption, bribery and deceit.
- Transparency — Setting the cultural tone from the top by encouraging dialogue on ethical issues and disclosing information in a full, accurate and timely manner.
- Conflict Identification — Actively identifying and addressing potential conflicts of interest and appearances of impropriety.
- Accountability — Emphasizing quality, customer protection, environmental sustainability and integrity in the supply chain.
"We are thrilled that Solae has joined BELA as a strong advocate of these core principles," said Alex Brigham, executive director of the Ethisphere Institute and founder of BELA. "We congratulate Solae on the decision to take action by demonstrating a commitment to supporting responsible business practices and look forward to its contributions to BELA's collaborative efforts to create a more ethical business environment for all."
Solae is now one of 30 companies that are current members of BELA, including some of the largest in the United States such as General Electric, Wal-Mart and PepsiCo. BELA is an international initiative.
The Business Ethics Leadership Alliance is a proactive initiative supporting leading American and international businesses focused on preparing the groundwork for improved business ethics across the global economy. Promoting better ethical business practices in key areas including compliance, transparency, conflict identification and accountability, BELA was developed by The Ethisphere Institute, a think-tank dedicated to the creation, advancement and sharing of best practices in business ethics, corporate social responsibility, anti-corruption and sustainability. More information on BELA is available at www.ethisphere.org/bela.
Solae, LLC is the world leader in developing innovative soy‑based technology and ingredients for food and nutritional products. Solae provides solutions that deliver a unique combination of functional, nutritional and economic benefits to our customers. At Solae, we take one of nature's best resources, the soybean, and create nutritious and great-tasting ingredients. Our goal is to provide solutions for today while innovating for tomorrow. With more than 1,000 products used by more than 3,500 customers, Solae's soy ingredients are enjoyed by consumers around the world in products such as baked goods, beverages, nutrition bars, meats, vegetarian meals and much more. Headquartered in St. Louis, Missouri, USA, with annual revenue exceeding $1 billion, the company was formed through a joint venture between DuPont (NYSE: DD) and Bunge (NYSE: BG). For more information, visit www.solae.com.