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Mountain Equipment Co-op Tops Best 50 Corporate Citizens in Canada list for 2010

Monday, June 21st 2010 11:42:32am

Attention: News/Business Reporters and Assignment Editors

Mountain Equipment Co-op Tops Best 50 Corporate Citizens in Canada list for 2010

(Toronto, Ontario, June 21, 2010)  Corporate Knights has released the 9th Annual Best 50 Corporate Citizens in Canada, the definitive annual list of Canada's top corporate citizens.  

This year, the ranking was enhanced with a transparent assessment of a company's relative carbon, water, waste, and energy impacts, utilizing newly available data from ASSET4, a Thomson Reuters business.

Other citizenship indicators include pension fund quality, board diversity, CEO-pay fairness, and tax dollar generation, as well as sector specific indicators such as renewable energy investments (for financial companies) and respect for human rights (for mining companies).

The Best Corporate Citizen for 2010 was Mountain Equipment Co-op. With strong board diversity, relatively low resource use, an embedded sustainability mandate, and strong supply chain management, MEC deserves the honour of the top corporate citizen in Canada.

The Corporate Knights Best 50 methodology for grading corporate citizenship, developed with financial support from Industry Canada, has helped raise the rigour and professionalism of what it means to be a good corporate citizen. Corporate Knights defines it as a company that fulfills its part of the social contract, while innovating solutions to pressing social and environmental challenges of our time.

Corporate Knights' ranking, subjected to outside scrutiny and review by Deloitte since 2007, applies a transparent methodology that calibrates important metrics from pension fund health and responsible accounting to executive pay and resource use. Many of these metrics that Corporate Knights has been tracking for years have recently moved to the forefront of the business pages with the crackdown on tax havens and the pension fund crunch.

Corporate Knights examines foreign-based companies with significant operations in Canada in a separate assessment called the Top Foreign Corporate Citizens in Canada.

“The Best 50 Corporate Citizens are leading the charge to a cleaner, more humane capitalism, where markets and companies work to make the world a better place.” says Toby Heaps, Editor-in-Chief of Corporate Knights. “By serving their employees, society, and our environment, these companies generate the most stakeholder value, which is the ultimate basis of long-term value for shareholders.”

The full methodology and analysis of the Best 50 Corporate Citizens is detailed at http://www.corporateknights.ca/best50 and summarized in the Best 50 2010 issue (Vol. 9.1) of Corporate Knights, found in the Globe and Mail today.

To schedule interviews with Toby Heaps, Editor-in-Chief, contact: Don Huff, 416-972-7404, huffd@ecostrategy.ca

About Corporate Knights:
Founded in 2002, Corporate Knights Inc. is an independent Canadian-based media company focused on promoting and reinforcing sustainable development in Canada.