This article has been written to focus on the conception of ethical governance which is understood as a structure containing both norms and principles that guide the activities of an organization even beyond pure legal compliance. The responsibility, integrity, fairness, and protection of human rights are critical aspects of governance which are a reflection of the company’s culture, as they are intricately connected to the mission. Accountability, in fact, is more than just the sense of avoiding legal responsibility by using a two‐step level solution, including full accountability and the acknowledgment of dedication both on personal and on collective levels. Integrity is the essence of the whole system and therefore as a starting point, it does not tolerate less than the maximum adherence to the moral principles even if this may be the daily problem. Equity is a principle which strives to distribute resources justly among different individuals, providing adequate chances for the success of each one and producing a fair game for everyone within an organization. Respect for human, his and environmental rights or even social nature should be a subject of constant reinforcement. Openness is established when stakeholders trust the organization when it’s around the transparent process of decision-making. Ethical governance entails the following persuasive grounds: the ethical and sustainable principles are constantly applied, the past and the future ground points for this purpose, and ethics risks are minimized. In essence, ethical governance is an important element addressed to companies’ ethical guidelines for the nerves of their business activities fitting the aspirations and expectations of the society and other ethical and environmental problems it faces.