Tata Steel has imbibed the vision of the Founder by integrating responsibility towards planet Earth in our operations, ensuring the health and safety of people at our workplaces, balancing economic prosperity and generating social benefits for the community.
Sustainability is deep rooted in the culture of the organisation and this commitment is embedded in the Company’s Vision which balances the aspiration of being steel industry benchmark in value creation and corporate citizenship.
The sustainability approach of the Company is articulated in Sustainability Policy which is supported by other policies such as Corporate Social Responsibility, Environment, Energy, Climate Change, Biodiversity Management, Affirmative Action, Social Accountability, Responsible Supply Chain, Human Resource policies, etc. These policies reinforce the integrated thinking and balance the impact and outcome of the six capitals viz. Financial, Manufactured, Intellectual, Human, Social and Relationship, and Natural. We have systems in place to capture the voice of stakeholders periodically and review our long-term strategy in line with evolving stakeholder expectations. Tata Steel has adopted the materiality assessment as a process to capture stakeholder voice and embed these material issues in our strategic planning process.
The sustainability agenda at Tata Steel is driven by the CSR & Sustainability and Safety, Health & Environment Committees of the Board with an organisation-wide governance structure around it. The scope and membership of the Board-level Committees have been detailed in the Corporate Governance Report. At the Corporate level, various committees, including the Apex Safety Committee, Apex Environment Committee, Apex HRD Committee, Apex CSR Committee, Apex R&D Committee and Quality and Production reviews periodically assess the progress on material issues and apprise the Board on a quarterly basis
A Municipal Solid Waste Dump in Jamshedpur has been converted into Dalma View Point, a 5-acre green picnic spot
During the year, Tata Steel became a member of ResponsibleSteelTM – steel industry’s first global multi-stakeholder standard and certification initiative that helps its members achieve their sustainability goals by providing an independent certification standard and programme. This membership will provide an opportunity to benchmark with peer companies, improve our systems and processes and enhance reputation while reducing risk.