Corporate accountability:

Gold rating for Brandix

Top apparel exporter Brandix Lanka Limited has been awarded a Gold rating for the second consecutive year in the 2011 edition of the "Sting Corporate Accountability Index" released by the Lanka Monthly Digest (LMD) magazine in association with Sting Consultants.

Inside a Brandix factory

Brandix has obtained the 10th overall position among 74 entities in the index securing 69.75 points. It is the highest ranked company representing the apparel, footwear and textiles sector, which the Index rates as one of the six "above average" sectors for corporate accountability.

The criteria taken into consideration by a team of expert judges in awarding the rankings included measurement and disclosure, stakeholder engagement, policy coverage, management and governance, identifying impacts, risks and opportunities and corporate values. "This endorsement of Brandix's corporate accountability practices by a reputed independent entity, based on broad criteria, demonstrates the high degree of transparency and continued commitment to best practices at Brandix," a spokesperson for the Brandix Group said. "This rating confirms the high ethical standards maintained by the Group in multiple aspects of business," she said.

Brandix was also among the top 10 corporate entities and received a Gold rating in the 2010 Sting Corporate Accountability Index. The company's superior ranking amongst its peers, also reflects its stature as the thought and process leader of the industry, the spokesperson added.

Scores for the Sting Corporate Accountability Index are derived from a proprietary model developed by Sting Consultants to reflect a holistic and integrated approach to CSR, sustainability and governance.