Tata Steel wins the prestigious Dun & Bradstreet Corporate Award 2019
~ The steel giant receives the award for the fifth consecutive year ~
Tata Steel has been bestowed the prestigious Dun & Bradstreet Corporate Award 2019 for the fifth consecutive year in the category of ‘Corporate Social Responsibility (CSR)’. The award was received by Mr Chanakya Chaudhary, Vice President, Corporate Services, Tata Steel, at a ceremony held in Mumbai today. The occasion witnessed the presence of senior bureaucrats, CEOs of companies, eminent corporate leaders and professionals.
The Dun & Bradstreet Corporate Awards has been commemorating outstanding performers among Indian Corporates since 2006. It has till date honoured the Top 500 Companies in India, thus recognising their role as ‘Champions of Change’ in the transformation of the country.
Speaking on the occasion, Mr Chaudhary said: “I am pleased that Dun & Bradstreet has recognised our efforts in the field of Corporate Social Responsibility. Our CSR strategy looks at establishing replicable change models which impact core development gaps across India - Signature Programmes, and enhance thematic development focus on communities in operating areas - Proximate Community Development. In addition, Tata Steel continues to strengthen its CSR governance and consolidate leadership position by intensifying deployment of its key initiatives through the Tata Steel Foundation.”
The Company identifies and responds to core development challenges in its operating areas through CSR initiatives ranging across themes like health, education and livelihoods along with interventions in drinking water, sanitation, sports, empowerment, infrastructure creation and tribal identity. As a responsible corporate citizen that is alive to dynamic societal changes and aspirations, Tata Steel felt the need for a change in the current operating strategy to go beyond existing boundaries and address or advocate for larger problem at the state and national level e.g. improving systems of health and education, poverty alleviation, climate resilience etc. The goal is to touch the lives of 2 million people per annum by 2025. The Company is exploring partnerships with governments, social sector organisations, academicians, and engaging more with experts and other organisations in the national development space.
Tata Steel has broad-based its community engagement to effect societal changes through its Proximate Community Development (PCD) programmes that include creating a systemic education and higher education goal for children and adolescents, eradicating worst forms of child labour, doubling income generation of its marginalised households and addressing water and sanitation issues of its communities. It offers the Tata Steel Scholars programme and Jyoti Fellowship to provide financial assistance to Scheduled Caste/Scheduled Tribe and economically weaker sections for their inter-degree, post-graduation or research programmes. A concerted focus on upskilling community youth is in place through various technical and non-technical programmes. Beginning 2018, the company engaged with prison authorities in Jamshedpur to work at rehabilitating lives through various skill-based training programmes.
Complementing its PCDs are a set of change models, called Signature Programmes, which showcase systemic changes, research approaches and are replicable at scale across a wide region. The Signature Programmes, which can consolidate diverse resource pools and multiply the impact potential on citizen’s lives, enable Tata Steel to advocate a structure to government and other organisations working for positive change. Some aspects of such programmes are already visible in programmes like Project MANSI (Maternal and Newborn Survival Initiative), RISHTA (An Adolescent Health Education Project), 1000 Schools Programme and Samvaad.
About Dun & Bradstreet (D&B)
Dun & Bradstreet, the global leader in commercial data and analytics, enables companies around the world to improve their business performance. Dun & Bradstreet’s Data Cloud fuels solutions and delivers insights that empower customers to accelerate revenue, lower cost, mitigate risk, and transform their businesses. Since 1841, companies of every size have relied on Dun & Bradstreet to help them manage risk and reveal opportunity.
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L&EIG has been tracking the economic scenario and business landscape closely for over a decade. It has also been D&B’s constant endeavour to place the success stories of Indian companies on a global platform through its knowledge almanacs.
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 (MTPA). 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 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 has won several awards including the Prime Minister’s Trophy for the best performing integrated steel plant for 2016-17, ‘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. In 2018, the Company launched a corporate brand campaign #WeAlsoMakeTomorrow www.wealsomaketomorrow.com
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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.