Tata Steel bags the Most Ethical Company Award for the 4th time!
~ Tata Steel named as a 2016 World’s Most Ethical Company by the Ethisphere Institute~
Tata Steel has been recognized by Ethisphere Institute, a global leader in defining and advancing the standards of ethical business practices, as a 2016 World’s Most Ethical Company
This year marks the tenth anniversary of Ethisphere and the World’s Most Ethical Companies designation, which recognizes those companies who align principle with action, work tirelessly to make trust part of their Corporate DNA, and in doing so, shape future industry standards by introducing tomorrow’s best practices in business today.
Tata Steel has been recognized 3 times earlier in the year 2012, 2013 and 2015 and is one of two companies which in the Metals, Minerals & Mining Category underscoring their commitment to leading ethical business practices.
‘Companies relies on Ethisphere to continually raise and measure the standards of corporate behavior. Those That demonstrate in areas of citizenship, integrity and transparency create more value for their investors, customers, communities and employees, thus solidifying a sustainable business advantage’, explained Ethisphere’s Chief Executive Officer, Timothy Erblich; ‘Congratulations to everyone at Tata Steel to be recognized as a World’s Most Ethical Company’
The World’s Most Ethical Company assessment is based upon the Ethisphere Institute’s Ethics Quotient™ (EQ) framework developed over years of research and vetted and refined by the expert advice from Ethisphere’s World’s Most Ethical Company Methodology Advisory. EQ offers a quantitative way to access a company’s performance in an objective, consistent and standardized way. The information collected provides a comprehensive sampling of definitive criteria of core competencies, rather than all aspects of corporate governance, risk, sustainability, compliance and ethics.
Scores are generated in five key categories: ethics and compliance program (35%), corporate citizenship and responsibility (20%), culture of ethics (20%), governance (15%) and leadership, innovation and reputation (10%) and provided to all companies who participate in the process.
About the Ethisphere Institute
The Ethisphere® Institute is the global leader in defining and advancing the standards of ethical business practices that fuel corporate character, marketplace trust and business success. Ethisphere has deep expertise in measuring and defining core ethics standards using data-driven insights that help companies enhance corporate character. Ethisphere honors superior achievement through its World’s Most Ethical Companies® recognition program, provides a community of industry experts with the Business Ethics Leadership Alliance (BELA) and showcases trends and best practices in ethics with the publication of Ethisphere Magazine.
About Tata Steel
Established in 1907 as Asia's first integrated private sector steel company, Tata Steel Group is among the top global steel companies with an annual crude steel capacity of nearly 30 million tonnes per annum (MnTPA). It is now the world's second-most geographically-diversified steel producer, with operations in 26 countries and a commercial presence in over 50 countries. The Tata Steel Group, with a turnover of US$ 24.81 billion in FY 14, has over 80,000 employees across five continents and is a Fortune 500 company. The Group’s vision is to be the world’s steel industry benchmark in “Value Creation” and “Corporate Citizenship” through the excellence of its people, its innovative approach and overall conduct. Underpinning this vision is a performance culture committed to aspiration targets, safety and social responsibility, continuous improvement, openness and transparency. In 2008, Tata Steel India became the first integrated steel plant in the world, outside Japan, to be awarded the Deming Application Prize 2008 for excellence in Total Quality Management. In 2012, Tata Steel became the first integrated steel company in the world, outside Japan, to win the Deming Grand Prize 2012 instituted by the Japanese Union of Scientists and Engineers.
Chief, Corporate Communications, India & SEA