Tata Steel named as one of the 2020 World's Most Ethical Companies by Ethisphere
~ One of the few Indian companies to feature for the ninth time in this coveted list ~
Tata Steel has been recognised as one of the 2020 World’s Most Ethical Companies by Ethisphere, a global organisation in defining and advancing the standards of ethical business practices. This is the ninth time the Company has been conferred this coveted recognition. In 2020, 132 honourees spanning 21 countries and 51 industries have been recognised
T. V. Narendran, CEO & MD, Tata Steel, said: “We are honoured to be once again recognised as one of the World’s Most Ethical Companies. This recognition encourages us to stay committed to the values and operating principles as practised by the visionary Founder leaders of the Tata Group. The Tata name evokes a sense of Trust, Credibility, and Integrity amongst stakeholders in India and overseas. It is a privilege to be part of the legacy and to build on this equity which has been earned so assiduously through our ethical conduct through the years.”
“Congratulations to everyone at Tata Steel for earning this recognition,” said Ethisphere’s Chief Executive Officer, Timothy Erblich. “This is a moment to acknowledge the leaders working to advance corporate cultures defined by integrity and affirm those companies contributing to broader societal imperatives and the greater good.”
The companies earning the World’s Most Ethical Companies distinction in 2020 will be honoured at Ethisphere’s World’s Most Ethical Companies Honouree Gala Dinner in New York City on March 31, 2020.
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 and measure and improve culture. Ethisphere honours superior achievement through its World’s Most Ethical Companies recognition programme and provides a community of industry experts with the Business Ethics Leadership Alliance (BELA). More information about Ethisphere can be found at: https://ethisphere.com
Methodology & Scoring
Grounded in Ethisphere’s proprietary Ethics Quotient®, the World’s Most Ethical Companies assessment process includes more than 200 questions on culture, environmental and social practices, ethics and compliance activities, governance, diversity and initiatives to support a strong value chain. The process serves as an operating framework to capture and codify the leading practices of organizations across industries and around the globe. Best practices and insights from the 2020 honourees will be released in a report and webcast in March and April of this year.
All companies that participate in the assessment process receive an Analytical Scorecard providing them a holistic assessment of where their programmes stand against the demanding standards of leading companies.
The full list of the 2020 World's Most Ethical Companies can be found at https://worldsmostethicalcompanies.com/honorees.
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-Certified 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.
Chief, Corporate Communications-India & SEA