This year is the eleventh anniversary of International Paper's first Ethics Code.  Last year the Code of Business Ethics, Third Edition was released.  And our story goes much further back in time than that.  Since the Company's founding in 1898, a commitment to ethical behavior has been the hallmark of the organization.  International Paper's earliest policies and actions supported the formation of the ethical culture and the pursuit of excellence that characterize the Company in the twenty-first century.  As we move forward, we will continue to focus relentlessly on the three key drivers of our business:  People, Customers and Operational Excellence.

 The people of International Paper believe that "ethical behavior and personal integrity are the core of our culture." This is the way we choose to describe ourselves, and is the ethical foundation that guides our work and our lives. Every International Paper employee has a copy of the company's Code of Business Ethics. In light of our complex and constantly changing world and work, our Code does not seek to address every situation and dilemma. Rather, it is a guide and a workplace tool, advising employees of our policies and standards of workplace behavior and helping employees seek answers to their questions and concerns. It is based on the expectation that International Paper employees are leaders in ethical decision making.

The customers of International Paper, like customers everywhere, prefer to do business with an ethical company. Whether our customers are other businesses and institutions or individual consumers, and whether our customers interact with us by telephone, in person or through e-business channels, we believe they all deserve to have confidence in the integrity that we bring to all our customer transactions. To us, treating our customers ethically means supplying quality products and services, providing the best value, anticipating our customers' needs and meeting their expectations. We will do these things in full compliance with the letter and the spirit of the law.

At International Paper, "operational excellence" means that we pursue quality in everything that we do. We use technology to achieve competitive advantage, and we pursue strategies that are based on best practices and that differentiate us from our competitors. We do this by partnering with customers and environmental, academic, civic and government organizations, as well as landowners and harvesting professionals, to encourage responsible forest stewardship, improve the health and productivity of forest lands and increase recovery of our recyclable products.  The company has a long-standing policy of using no wood from endangered forests.  Operational excellence also means that we are dedicated to dealing ethically across our supply chain and with all stakeholders of the company. In short, it means that we are accountable in all that we do.

You are invited to look through the pages of this site. You will find the third edition of the International Paper Code of Business Ethics, as well as a way to contact me by phone or e-mail. If you want to learn more about how "doing the right thing" is part of our life at International Paper, or if you see something that troubles you and want clarification, this is the contact information to use.

Sharon Ryan
Chief Ethics & Compliance Officer