A code of ethics is a set of principles of conduct within an organization that is used to govern decision making and behavior. It consists of ethical standards, values, and expectations of behavior for individuals within the organization and for their interactions with each other, with customers and external stakeholders. By establishing a code of ethics, organizations can create a culture of integrity and respect which promotes the best practices for all staff members and builds the public trust.

The goal of a code of ethics is to ensure fairness, responsibility, and trust in the workplace. When there is clarity around expectations, it empowers staff to make decisions in a morally responsible and respectful manner, strengthen relationships and build a reputation of trustworthiness.

While policies, guidelines and laws outline what is legally required, a code of ethics goes beyond this by emphasizing moral responsibilities. Organizations may look to industry specific codes of ethics, regional or country legal regulations and professional benchmark codes of ethics in the design and implementation of the code.

Commonly, a code of ethics covers the basic areas of honesty, integrity, and professionalism. It will detail the obligations each employee has to their employer, to their colleagues, and to the public. It will stipulate the standards for ensuring a respectful working culture for everyone and will often detail actions and behaviors which are unacceptable.

In addition, to the traditional elements of a code of ethics, an increasing number of organizations are considering how they can minimize their environmental impact and are including a focus on climate change within their codes of ethics. This may include targets for reducing the organization's greenhouse gas emissions and promoting renewable energy solutions.

Ultimately, a code of ethics is a critical component for building and maintaining the public trust and should be a fundamental part of any organization's values. A comprehensive, carefully considered code of ethics helps to define the culture of integrity and professional behavior within the organization, ensuring all members have a sense of accountability and ownership in the company’s ethical standards.