This year, nearly 5,000 companies over 100 countries and 36 industries applied to be considered in the sixth edition of the most ethical companies in the world list, which is open to every company in the world.

Stora Enso was included under the forestry and paper category along with three other companies, two the US and one Sweden.

The 2012 list was comprised of 145 companies, a record number since its 2007 inception.  This year`s list includes a greater number of global companies with 43 non-US winners.

According to the Ethisphere Institute`s website, the World`s Most Ethical Companies, or WME, is a distinction where the think-tank recognizes companies that truly go beyond statements regarding doing business ethically and translate those words into action.

"More and more companies are realizing how ethics can be an important competitive advantage in the global economy," stated Alex Brigham, executive director of the Ethisphere Institute to the US-based Forbes magazine.

To determine the World`s Most Ethical companies, the Institute employs a proprietary rating system that studies the company`s codes of ethics, infraction history, investments in innovation and sustainable business practices, among other aspects.

Montes del Plata came about the association between Stora Enso and Arauco, two of the world`s leading forestry companies, and adheres to both companies` ethical commitments.

Moreover, it has signed onto the United Nations Global Compact. This adherence implies the application of the 10 principles of the Global Compact in reference to human rights, workers&rsquo rights, the environment and fighting corruption. Likewise, a commitment is made to incorporate the principles into the company&rsquos strategy, culture and day-to-day activities, as well as becoming involved in cooperative projects that contribute to the broadest attainment of the development objectives of the United Nations, especially the Millennium Development Goals.