Operational Excellence
March 24, 2023

Xcel Energy again named one of the World’s Most Ethical Companies

Honor recognizes integrity, culture and strong leadership in sustainability

For the fourth consecutive year, Xcel Energy has been named one of the World’s Most Ethical Companies® by Ethisphere, a global leader in defining and advancing the standards of ethical business practices. Xcel Energy is one of only nine honorees in the Energy & Utilities category, only five of which are companies in the United States. In 2023, 135 honorees were recognized, spanning 19 countries and 46 industries. 


We are honored to be named one of the World’s Most Ethical Companies for a fourth consecutive time,” said Bob Frenzel, chairman, president and CEO of Xcel Energy. “Our employees lead every day with our core values of connected, committed, trustworthy and safe as they provide our customers with reliable and sustainable energy services at a competitive price.” 


“Ethics matters. Organizations that commit to business integrity through robust programs and practices not only elevate standards and expectations for all, but also have better long-term performance,” said Ethisphere CEO, Erica Salmon Byrne. “We continue to be inspired by the World’s Most Ethical Companies honorees and their dedication to making real impact for their stakeholders and displaying exemplary values-based leadership. Congratulations to Xcel Energy for earning a place in the World’s Most Ethical Companies community.” 


Ethisphere’s 2023 Ethics Index, the collection of publicly traded companies recognized as recipients of this year’s World’s Most Ethical Companies designation, outperformed a comparable index of large-cap companies by 13.6 percentage points over a five-year period. Grounded in Ethisphere’s proprietary Ethics Quotient®, the World’s Most Ethical Companies assessment process includes more than 200 questions on culture, environmental and social practices, ethics and compliance activities, governance, diversity and initiatives to support a strong value chain. The process serves as an operating framework to capture and codify the leading practices of organizations across industries and around the globe. 


Xcel Energy aims to be a net-zero energy provider by 2050. The company was the first in its industry to have aggressive clean energy goals covering three large sectors of the economy: electricity, natural gas use in buildings and transportation.