Tata Steel conferred the 'Best Integrated Report Award' for 2018 by Asian Centre for Corporate Governance & Sustainability
~ The Company through its integrated thinking has adopted business processes and practices towards value creation for the benefit of all its stakeholders in a balanced manner ~
Tata Steel has been conferred the ‘Best Integrated Report Award’ for 2018 by Asian Centre for Corporate Governance & Sustainability. The award jury was unanimous in selecting Tata Steel for this award that celebrates best practices in sustainability communication and recognises reporting leaders in Asia.
Thanking the jury for the acknowledgement, Mr. T. V. Narendran, CEO & MD, Tata Steel, said: "It’s an honour to be conferred the Best Integrated Report Award. For us, the process of writing the report is very enriching, brings various divisions and departments together, making it an exercise of true integration. It provides an opportunity to reflect on what the organisation is doing and what it needs to do to recalibrate and align itself with the expectation of its stakeholders. While we are proud of the achievement, we also recognise that we have a lot more to do. As part of our culture of continuous improvement, we will continue to strive for even better report in years to come.”
Mr. Narendran, Mr. Koushik Chatterjee, ED & CFO, Tata Steel, Mr. Kanchinadham Parvatheesam, Company Secretary & Chief Legal Officer (Corporate & Compliance), Tata Steel, accepted the award on behalf of Tata Steel. The award was presented at the 6th Asia Business Responsibility Summit organised by the Asian Centre for Corporate Governance and Sustainability in Mumbai on September 25, 2019. The 2018 Awards have been offered in 10 categories including Best Governed Company Award, Best Audit Committee Award, Best Integrated Report Award and Best CSR & Sustainability Award.
To present the company’s financial and non-financial performance in an integrated manner, is a new trend that businesses are adopting around the world. Tata Steel is the only company from India to have participated in this global movement of integrated reporting by becoming a part of the global pilot project of International Integrated Reporting Council (IIRC), UK.
Tata Steel has been a pioneer in India in developing an integrated report in the true sense and spirit of enabling stakeholders to analyse and assess the Company’s ability to create and sustain value in the medium to long-term horizon. The report demonstrates the Company’s commitment to embed environmental, social and governance (ESG) model in to its core business. The insights and outcomes through deeper partnership with community and serious concern for environment have led the Company to identify and mitigate social and environmental impacts proactively. The report also reflects Company’s commitment to create a better tomorrow for all its stakeholders and having a deep and abiding concern towards societal needs and environment protection.
Last year, Tata Steel was conferred the 'Asia's Best Integrated Report' award by the Asia Sustainability Reporting Awards 2017 (ASRA), the highest regional recognition for integrated reporting at an event held in Singapore.
About Tata Steel
Tata Steel group is among the top global steel companies with an annual crude steel capacity of 33 million tonnes per annum. It is one of the world's most geographically-diversified steel producers, with operations and commercial presence across the world. The group (excluding SEA operations) recorded a consolidated turnover of US $22.67 billion in the financial year ending March 31, 2019. In 2018, Tata Steel acquired Bhushan Steel Ltd (now renamed as Tata Steel BSL Ltd).
A Great Place to Work-CertifiedTM organisation, Tata Steel Ltd., together with its subsidiaries, associates and joint ventures, is spread across five continents with an employee base of over 65,000.
Tata Steel retained the ‘Global Steel Industry Leader’ position in the DJSI 2018. 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 has won several awards including the Lighthouse recognition for its Kalinganagar Plant – a first in India, Prime Minister’s Trophy for the best performing integrated steel plant for 2016-17, ‘GreenPro’ certification for products (Tata Pravesh Steel Doors, Tata Structura, Tata Pipes) by CII, Authorized Economic Operator (AEO) status (Tier 2) by the Directorate of International Customs (Ministry of Finance, Govt. of India), ‘Corporate Strategy Award’ by Mint (2018), Golden Peacock Award for Risk Management (2018) and Best Risk Management Framework & Systems Award (2019) by CNBC TV18. The Company also received the ‘Most Ethical Company’ award from Ethisphere Institute for the eight time (2019), Steel Sustainability Champion (2018) by the World Steel Association, Dun & Bradstreet Corporate Awards (2019), Golden Peacock HR Excellence Award by Institute of Directors (2018), ‘Best Companies To Work For’ recognition by Business Today, 'Asia's Best Integrated Report' award by the Asia Sustainability Reporting Awards (2017), among several others.
Last year, the Company launched a corporate brand campaign #WeAlsoMakeTomorrow
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Statements in this press release describing the Company’s performance may be “forward looking statements” within the meaning of applicable securities laws and regulations. Actual results may differ materially from those directly or indirectly expressed, inferred or implied. Important factors that could make a difference to the Company’s operations include, among others, economic conditions affecting demand/supply and price conditions in the domestic and overseas markets in which the Company operates, changes in or due to the environment, Government regulations, laws, statutes, judicial pronouncements and/or other incidental factors.