The Most Ethical Companies in the World in 2026
Deutsche EuroShop reports a CEO-to-employee pay ratio of 2:1. Winmark Corporation has diverted over 1.9 billion items from landfills since 2010. West Fraser Timber maintains 130 indigenous partnerships across Canada.
These are not household names. None of them appear on the typical "most ethical" lists that companies pay to join. That is because most of those lists are built on self-reported surveys and consultant-polished questionnaires. The result is a ranking that rewards marketing spend over genuine integrity.
Mashinii scores over 6,000 public companies across 11 ethical dimensions using independent evidence -- regulatory filings, penalty records, third-party audits, and verified reporting. No company submits data to us. No company pays to be included. The scores reflect what these companies have actually done, not what they claim in sustainability reports.
Here are the companies that come out on top.
The 10 Most Ethical Public Companies in 2026
To qualify, a company needed to score highly across multiple dimensions. A company that scores 80 on one value but zero on ten others did not make this list. We prioritised businesses demonstrating broad integrity across worker treatment, environmental responsibility, community engagement, supply chain ethics, and customer trust.
| Rank | Company | Top Score | Best Value | Avg. Across Scored Values | Sector |
|---|---|---|---|---|---|
| 1 | Deutsche EuroShop | 80 | Fair Pay & Worker Respect | +8 | Real Estate |
| 2 | West Fraser Timber | 80 | Respect for Cultures & Communities | +3 | Forestry & Wood Products |
| 3 | Vital Farms | 80 | Kind to Animals | +5 | Food Production |
| 4 | Winmark Corporation | 80 | Zero Waste & Sustainable Products | +13 | Retail (Resale) |
| 5 | Safestore Holdings | 70 | Honest & Fair Business | +7 | Self-Storage |
| 6 | Fabasoft AG | 70 | Fair Pay & Worker Respect | +7 | Software & Technology |
| 7 | DS Smith | 70 | Fair Trade & Ethical Sourcing | +1 | Packaging |
| 8 | Funding Circle Holdings | 70 | Fair Money & Economic Opportunity | -4 | Financial Services |
| 9 | Farmer Mac | 70 | Fair Money & Economic Opportunity | +12 | Agricultural Finance |
| 10 | Cisco Systems | 60 | Fair Money & Economic Opportunity | +5 | Technology |
Scores range from -100 (worst) to +100 (best). "Top Score" is the company's highest score on any single value. "Avg. Across Scored Values" is the mean of all non-zero value scores.
None of these are megacap household names. The companies at the top of our integrity rankings tend to be mid-caps and small-caps -- businesses where the gap between leadership statements and documented conduct is narrower. For comparison, see how the world's biggest tech companies fare in our ethical tech stock rankings.
Company Profiles: Why Each One Ranked
1. Deutsche EuroShop (DEQ.XETRA) -- The Workforce Standard-Setter
Deutsche EuroShop invests in shopping centres across Europe. Its top ranking rests on an extraordinary worker treatment score.
The company reports a CEO-to-employee pay ratio of 2:1, according to its regulatory filings. For context, the average S&P 500 CEO-to-worker ratio exceeds 300:1. Deutsche EuroShop also reported zero workplace accidents and a 0% voluntary employee turnover rate in 2021.
On governance, the company operates a digital whistleblower system compliant with the EU Whistleblowing Directive, with both internal and independent external compliance officers. All subsidiaries and management are required to make anti-corruption declarations, and the company received a Gold Award from EPRA for transparency in reporting. All 21 of its European shopping centres hold sustainability certifications from the German Sustainable Building Council.
View Deutsche EuroShop's full score breakdown
2. West Fraser Timber (WFG.US) -- The Community Engagement Leader
West Fraser Timber scores 80 on Respect for Cultures & Communities -- the highest score in our database for that value. This is a Canadian forestry company operating on and around indigenous lands, and its community engagement goes well beyond token consultation.
West Fraser maintains 130 indigenous partnerships and vendors and 39 mutually agreed-upon community engagement processes. In 2024, the company invested $1.5 million directly in indigenous communities. An impressive 97% of Canadian salaried employees completed Indigenous Awareness Training. The company holds Partnership Accreditation in Indigenous Relations (PAIR) certification, engages with over 80 indigenous communities, and runs an 8-week Indigenous Forestry Training Programme that has graduated 26 students over three years.
The company also has SBTi-validated science-based targets for emissions reduction and powers 75% of its manufacturing with renewable energy.
View West Fraser Timber's full score breakdown
3. Vital Farms (VITL.US) -- The Animal Welfare Benchmark
Vital Farms scores 80 on Kind to Animals, driven by a business model built entirely around ethical food production. Every one of its farms is third-party verified to Certified Humane's Pasture-Raised Standard, with hens given at least 108 square feet of pasture per hen. The company sources 100% of its shell egg sales from cage-free systems.
Medically important antibiotics are used on just 0.3% of animal production, administered only for disease treatment. Its Egg Central Station facility achieved TRUE Zero Waste certification and LEED Gold Certification, diverting 95.7% of waste from landfill. Even its packaging is 99.6% recyclable, with 82% incorporating post-consumer recycled materials.
Vital Farms is also a Certified B Corporation with an overall B Impact Score of 98.6.
View Vital Farms' full score breakdown
4. Winmark Corporation (WINA.US) -- The Circular Economy Model
Winmark Corporation is the franchisor behind Plato's Closet, Once Upon A Child, and Play It Again Sports -- brands built entirely on the resale of used goods. Its 80 score on Zero Waste & Sustainable Products reflects a business model that is, by design, anti-waste.
Since 2010, Winmark franchisees have diverted over 1.9 billion items from landfills, with 195 million items recycled per year. The company also scores +20 on Fair Pay & Worker Respect, with a CEO-to-employee pay ratio of 21:1 (CEO compensation of $1.83 million, median employee pay of $86,989), a 91% employee recommendation rate on Glassdoor, and zero regulatory violations. Its 10-K reports no material data breaches in the past three years.
For investors looking for a company where sustainability is the core business rather than a bolt-on initiative, Winmark stands out.
View Winmark's full score breakdown
5. Safestore Holdings (SAFE.LSE) -- The Governance Leader
Safestore Holdings scores 70 on Honest & Fair Business -- the highest governance score among companies in our top 10. The UK-based self-storage company received an 'A' rating from the Global Real Estate Sustainability Benchmark (GRESB), and its board has no identified conflicts of interest as of October 2024.
The company powers all stores across its group with 100% zero-carbon electricity and targets operational net zero by 2035. Safestore has Investors in People Platinum accreditation, a voluntary turnover rate low enough to earn recognition as a top employer, and its branded boxes are made from 100% recycled materials. It supports 194 charity organisations across 119 stores.
View Safestore's full score breakdown
6. Fabasoft AG (FAA.XETRA) -- The European Tech Exemplar
Fabasoft AG, an Austrian software and IT holding company, scores 70 on Fair Pay & Worker Respect. The company has a voluntary employee fluctuation rate of just 1.08%, 100% collective bargaining coverage in Austria, and no fixed-term contracts outside of internships.
Fabasoft also scores +20 on Safe & Smart Tech, bolstered by being the first company worldwide to achieve EU Cloud Code of Conduct Level 3 compliance. It holds ISO 27001, ISO 27018, BSI C5, and the Cyber Trust Gold Label. The company has SBTi-validated near-term targets and sources 70.4% of its energy from renewable sources.
View Fabasoft's full score breakdown
7. DS Smith (SMDS.LSE) -- The Ethical Supply Chain Leader
DS Smith, a UK-based packaging company, scores 70 on Fair Trade & Ethical Sourcing -- a value where most companies score near zero or negative. The company ensures 100% of its purchased papers are recycled or chain of custody certified, achieved a 90% sustainability score in EcoVadis's Sustainable Procurement category, and mandates all suppliers to comply with its Global Supplier Standard, which integrates the Ethical Trading Initiative Base Code and ILO conventions.
DS Smith has replaced over 1.7 billion pieces of plastic with fibre-based alternatives since 2020, and 99.6% of its manufactured packaging is reusable or recyclable. Its papers contain 77% FSC Recycled content, and 800 designers have been trained on Circular Design Principles.
View DS Smith's full score breakdown
8-9. Funding Circle Holdings & Farmer Mac -- Fair Finance in Practice
Two financial services companies both score 70 on Fair Money & Economic Opportunity.
Funding Circle Holdings directs 100% of its lending to small and medium-sized enterprises -- an underserved segment in traditional banking. In 2024, its finance supported 87,500 jobs and contributed $7.2 billion to GDP, with borrowers in every one of the UK's 650 parliamentary constituencies.
Farmer Mac serves American agriculture, with 96% of Farm & Ranch loans going to family farms and 76% to small farms. The company funds loans to over 95,000 rural borrowers across all 50 states. Its entire 15-member board was affirmatively determined to be independent, and it maintains a formal Whistleblower Protection Policy through an independent third-party service available 24/7.
View Funding Circle's full score breakdown | View Farmer Mac's full score breakdown
10. Cisco Systems (CSCO.US) -- Scale With Evidence
Cisco Systems is the largest company on this list and scores 60 on Fair Money & Economic Opportunity. Through its support of Opportunity International, 86% of 20 million low-income clients reported increased income. Cisco Capital provides 0% interest financing for Historically Black Colleges and Universities. The company has also backed $69 million in zero-interest loans to underserved communities through Kiva.
Cisco scores 50 on Respect for Cultures & Communities, supported by over 100 indigenous partner schools through its Connected North programme, partnerships with Lac Courte Oreilles Ojibwe University and the Wiikwemkoong Unceded Territory, and formal agreements with IIisagvik College. It sources 96% of its electricity from renewable sources and has SBTi-approved net-zero targets for 2040.
View Cisco's full score breakdown
3 Traits the Most Ethical Companies Share
We looked at what these ten companies have in common. Three concrete patterns emerged.
1. Small enough that leadership is visible. Eight of the ten companies have fewer than 10,000 employees. Deutsche EuroShop has a CEO-to-employee pay ratio of 2:1 -- the CEO and the workers are, structurally, almost peers. Winmark's CEO earns $1.83 million against median employee pay of $86,989. In these organisations, the gap between what leadership says and what workers experience is small enough to measure. Cisco is the exception, and it earns its place through named, auditable programmes rather than general pledges.
2. Ethics is the business model, not a department. Winmark's entire revenue comes from reselling used goods -- 1.9 billion items diverted from landfill. Vital Farms exists because consumers will pay more for pasture-raised eggs verified to Certified Humane standards. DS Smith replaced 1.7 billion pieces of plastic with fibre alternatives because that is what its customers buy. For eight of these ten companies, removing the ethical component would remove the product. That is fundamentally different from a megacap adding a sustainability page to its annual report.
3. Every company holds at least one independent certification. B Corp (Vital Farms), ISO 27001 (Fabasoft), Certified Humane (Vital Farms), GRESB (Deutsche EuroShop, Safestore), EcoVadis (DS Smith), PAIR accreditation (West Fraser), TRUE Zero Waste (Vital Farms). These are not self-reported survey badges. They are third-party standards that require evidence, on-site audits, and recertification. The willingness to submit to external measurement is, in itself, a signal.
What This Ranking Doesn't Capture
No ranking system is perfect. Mashinii scores are based on available evidence from public sources. Companies with less media coverage and fewer regulatory filings will have fewer data points, which can result in more neutral scores. Some of the companies on this list benefit from operating in sectors with lower inherent risk -- a self-storage company faces fewer animal welfare questions than a food producer.
We also weight the number of values on which a company is scored. A company scoring 80 on one value and 0 on ten others is not the same as a company scoring 40 across all eleven. Our ranking accounts for this, but investors should examine the full value breakdown on each company's page.
How to Find Ethical Companies for Your Portfolio
This list is a starting point, not a portfolio recommendation. Your priorities determine which companies matter most.
If animal welfare is your priority, Vital Farms is the benchmark. If worker treatment drives your decisions, Deutsche EuroShop and Fabasoft lead. If supply chain integrity matters, DS Smith stands apart. If you want financial inclusion, Funding Circle and Farmer Mac are directing capital to underserved borrowers.
The contrast with large-cap holdings is stark. See how the world's biggest tech companies fare in our ethical tech stock rankings, or explore the S&P 500 ethical scores to understand what the default portfolio looks like. For the question of whether integrity costs you returns, see our analysis of whether ethical investing makes money.
Search any company free at mashinii.com to see its full integrity profile. Or run a portfolio audit to check how your existing investments compare.
How We Score
All scores are derived from independent evidence -- penalty records, court outcomes, verified reporting, and third-party audits. No corporate self-assessments. Learn more about our methodology.
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Mashinii provides integrity data for informational purposes. This is not financial advice.