The accolades for the responsible pet industry just keep on coming.
In January, Entrepreneur Magazine named seven pet industry businesses to its top 450 franchise companies for the quality of their business practices. Now, PIJAC board member Petco has been declared as one of the world’s most ethical businesses for the sixth year in a row.
The award was given to a total of 124 companies across the world. Founded 11 years ago by data company Ethisphere, the award is an honor for recipients. Petco and the other 123 companies filled out a questionnaire about the ethics of their business practices. Ethisphere then dug into the companies’ claims and backgrounds.
The award is just the latest sign that getting healthy pets to loving homes is good for people and animals. A 2015 study found that pet owners save the U.S. health care system $11.4 billion annually. More recently, a study pinpointed 1.3 million jobs created or supported by the responsible pet industry.
Ethisphere’s award is based upon five categories: ethics and compliance program (35%), corporate citizenship and responsibility (20%), culture of ethics (20%), governance (15%) and leadership, innovation and reputation (10%).
Correction: This blog post previously described the 2015 study as showing “more than $10 billion annually” in health care costs saved from dog ownership. The study in question actually found $11.4 billion in savings from owning all pets.