Waste Management Inc. has been recognized as one of the World’s Most Ethical Companies in 2012. This is the fifth year the company has been honored by the Ethisphere Institute.

“We strive to operate in a way that contributes to the success of our business and the communities we serve,” said David Steiner, chief executive officer and president, in a press release from WM. “It is our responsibility to make positive change for the environment and for society.”

The 2012 list — currently in its sixth year — features companies in more than three dozen industries, including 40 companies headquartered outside the U.S.

Ethisphere evaluated a record number of applications, also according to WM’s press release. The methodology for the list includes reviewing codes of ethics; evaluating innovative and sustainable business practices; looking at activities designed to improve corporate citizenship; and studying nominations from senior executives, industry peers, suppliers and customers.

Waste Management Inc. is headquartered in Houston, Texas, with a facility located at 100 Ransier Drive in West Seneca.