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JLL’s corporate governance arrangements are conducted according to the standards of the New York Stock Exchange. The firm’s Board of Directors has ultimate responsibility for overseeing our business. The Board elects our Chairman, Chief Executive Officer and Chief Financial Officer as well as other senior officers. The management team, with the Board’s oversight, is responsible for conducting the company’s business to enhance long-term value.
We seek to provide shareholders with the highest level of governance including: annual voting for Directors; majority voting for Directors; enhanced abilities to call for special meetings; and annual advisory voting on executive compensation. At the most recent shareholder annual meeting, 99.7% of the votes cast were in favor of each Director and 94% of the votes cast were in favor of our executive compensation.
Our ethical commitment
Good governance and strong integrity are not just good for business; they provide tangible financial benefits to shareholders and provide confidence to the communities in which we operate. The Ethisphere Institute publishes statistics that show the World’s Most Ethical Companies have outperformed the S&P 500 by 4% on an annual basis over a ten-year period. Additional information about our corporate governance can be found on our website.
JLL is committed to a corporate culture that embraces and promotes strong principles of business ethics at every level; a commitment reflected in our Code of Business Ethics. We are proud of the global reputation we have established and are determined to protect and to enhance it. In 2016, the Ethisphere Institute has again recognized our efforts, listing JLL on their ‘World’s Most Ethical Companies’ index for the ninth year in a row. We also received Ethics Inside re-certification from the NYSE Governance Council, and Corporate Responsibility Magazine placed us as #23 on its list of Best Corporate Citizens in the U.S.
Ethical behavior is a core responsibility of each and every JLL employee and we seek to embed these behaviors deep within the company’s corporate culture. Our Ethics Everywhere program establishes a framework for the various activities we undertake in order to maintain compliance with our Code of Business Ethics. These efforts are supported by our network of ethics officers, numbering more than 25 people worldwide.
As part of the Ethics Everywhere program, we offer comprehensive training to our employees. In 2015, more than 12,000 of our employees undertook in-person training at more than 300 different sessions relating to legal, ethics or compliance matters. This training is proving effective—in our last full Global Employee Engagement Survey, 96% of the more than 31,000 employees who responded to the survey reported that they fully understood their obligations under our Code of Business Ethics. A further 89% recognized JLL’s commitment to ethical business decisions and conduct. In 2015, we conducted more than 500 investigations of potential violations of our ethics code, representing 0.8% of our total employee population. Of these investigations, 69% resulted in action being taken, ranging from additional training to termination of employment.
JLL is also actively involved in efforts to improve the integrity and transparency of global markets through collaboration with the World Economic Forum Partnering Against Corruption Initiative, among other significant integrity-oriented initiatives in which we are involved. Furthermore, LaSalle Investment Management has been a signatory of the UN Principles for Responsible for Responsible Investment (PRI) since 2009 and has made a commitment to report on the progress toward the PRI’s six principles of responsible investing. In its most recent UN PRI assessment report, LaSalle was awarded strong scores across the board, exceeding the median score across all relevant categories on the appraisal.
JLL has earned a reputation for progressive thinking through extensive investments in research and thought leadership. Throughout 2015, we produced 31 pieces of sustainability thought leadership covering topics as diverse as climate change adaptation, sustainable building design and productivity and workplace economics.
Many of these pieces were published on our LinkedIn sustainability showcase, Green Blog, CSRWire posts, and Real Views web pages. We know that collaboration brings with it the opportunity for making a difference. That is why we work together with 55 global and local sustainability organizations to develop new ways of thinking around some of the biggest challenges facing our sector. This includes working alongside organizations such as the Global Real Estate Sustainability Benchmark and the World Green Building Council.
The World Green Building Council is a global member network of Green Building Councils enabling green building and sustainable communities through leadership and market transformation. The World Green Building Council aims to make all building and communities sustainable, enabling us to thrive on our planet today and in the future. In 2016, JLL was very pleased to be invited to join the World Green Building Council’s Corporate Advisory Board, a select group of companies that are global leaders on sustainability, and which serve to guide the organization on its strategy and activities.
Terri Wills, CEO of the World Green Building Council, said: “We’re delighted to welcome JLL onto the World Green Building Council’s Corporate Advisory Board—it is a true global leader on green buildings, from its work to help clients to achieve the highest sustainability standards to its role in enhancing workplace productivity and health. JLL will be a huge asset to the Corporate Advisory Board, and we look forward to collaborating with them to deliver green building for all.”