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Providing a framework for integrating aspects of externally directed corporate and marketing communication efforts, this paper makes a case for the communication of positive and credible ethical values as a potentially critical component in communications strategy and sustainable competitive advantage. Using an uncertainty‐reduction model adapted from the diffusion literature, it is suggested that appropriately communicated moral and ethical values can have a role in underpinning an organisation’s reputation and “trusted capacities”, thereby heightening confidence in likely future actions, offering a predictive mechanism for lowering uncertainty in market transactions, and facilitating a potential to trade by offering a rationale for an organisation’s secure market position. Underpinned by ethical principles, the paper proposes implications for the role of “reputation for trustworthiness” and its symbolic evocation. It is argued that a reputation can become accepted as a social “fact”, able to endure critical interrogation in its social environment.

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