Tata Steel awarded the CII Environmental Best Practices Trophy 2018
Tata Steel has been awarded the prestigious CII Environmental Best Practices Trophy 2018 for pioneering (in India) sustainability initiatives in its Ocean Transportation & Logistics Operations.
On behalf of Tata Steel, the award was received by Mr. Amitabh Panda, Group Head - Shipping & Logistics along with Captain Som Mishra and Amit Sharma at the 7th Greenco Summit organised recently by Confederation of Indian Industry (CII) in Chennai.
Expressing his appreciation and gratitude on receiving the award, Mr Amitabh Panda, Group Head - Shipping & Logistics, Tata Steel said, “Tata Steel is committed to adopting best practices in its operation for a sustainable future. Such recognitions encourage us as we constantly embrace ourselves with practices that help and promote environmental protection. Sustainability forms the core of our business philosophy and we are glad to be honoured for our constant efforts and contribution towards efficient management of natural resources.”
The award under the category 'Innovative Environmental Project' becomes noteworthy, as it was chosen, from amongst 70 projects submitted by other marquee Indian companies.
On its ~14 Mn ton import/export in FY18, the avg. CO2 emission by TSL vessels were 3.2 grams/ton/nautical mile that translates to 440,000 tons CO2 reduction, when benchmarked to global average of 10.9 grams/ton/nautical mile for FY18. The award was in recognition of the initiatives taken and results achieved.
In its effort to achieve the above target, as also to continue the journey in the years ahead, Tata Steel works jointly with top-class shipping companies and shipyards from Europe, Japan, South Korea & China to build vessels of requisite specification and structures commercial deals to keep it value accretive.
Importantly, these steps are being taken by the Company, ahead of the International Maritime Organization (IMO) regulations on CO2, SOx, NOx norms that will pan out in the Indian/Pacific Ocean region in the years ahead.
About Tata Steel
Tata Steel Group is among the top global steel companies with an annual crude steel capacity of 27.5 million tonnes per annum (MTPA) as on March 31, 2018. It is one of the world's most geographically-diversified steel producers, with operations in 26 countries and a commercial presence in over 50 countries. The Group recorded a consolidated turnover of US $20.41 billion (INR 133,016 crore) in FY18. Tata Steel Group is spread across five continents with an employee base of over 65,000. Tata Steel retained Industry Leader position in FY18 and ranked second overall in the DJSI assessment, 2017. The Company has been recognised as the Climate Disclosure Leader in ‘Steel category’ by CDP (2017). Besides being a member of the World Steel Climate Action Programme, Tata Steel was felicitated with several awards including the Prime Minister’s Trophy for the best performing integrated steel plant for 2014-15 and 2015-16, Best Risk Management by CNBC TV18 (2018) and ‘Corporate Strategy Award’ by Mint (2018). The Company also received the ‘Most Ethical Company’ award from Ethisphere Institute for the sixth time (2018), Steel Sustainability Champions (2017) by the World Steel Association, Dun & Bradstreet Corporate Awards (2017 & 2018), Golden Peacock HR Excellence Award by Institute of Directors (2017) as well as 'Asia's Best Integrated Report' award by the Asia Sustainability Reporting Awards (2017), among several others.
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