Tata Steel Limited and Tata Steel Europe recognised by ‘worldsteel’ among 2020 Steel Sustainability Champions
~ Receives this global recognition for the fourth year in a row ~
Tata Steel Limited and Tata Steel Europe have again made it to the elite list of sustainability champions, collated by worldsteel, for the fourth year in succession. The coveted recognition is bestowed for the outstanding sustainability efforts in 2020 and is an acknowledgement of Tata Steel’s efforts at maintaining its leadership position as a world-class steel producer that focuses on the principles of sustainability. The award was received by T. V. Narendran, CEO & MD, Tata Steel, during a virtual event.
T. V. Narendran, CEO & MD, Tata Steel, said: “We are humbled with this honour bestowed upon us for the fourth time. Tata Steel is committed to its goal of becoming a sustainable steel producer and the global pandemic has only made our resolve stronger. Over the years, we have deepened our engagement with communities, collaborated with experts, partnered with academia and organisations, invested in developing and deploying cutting edge technology towards building sustainable operations. This recognition will further encourage us to integrate sustainability into everything we do.”
‘worldsteel’ has shortlisted companies as Steel Sustainability Champions for their work in 2020. Now in its fourth year, the programme commends the steel companies that clearly demonstrate their commitment to sustainable development.
The winning entries for recognition as the Sustainability Champions were evaluated based on sustainability indicators like material efficiency, environmental management systems, lost time injury frequency rate, employee training, investment in new processes and products, economic value distributed.
In addition to this, the companies provide Life Cycle Inventory (LCI) data to the World Steel Association’s data collection programme that covers over 50% of the company’s crude steel production data and is less than 5 years old. The companies also commit themselves to signing the World Steel Association’s Sustainable Development Charter.
Tata Steel has been a pioneer in disclosing its sustainability performance transparently through various disclosure platforms. The Company has been publishing Sustainability Reports following the Global Reporting Initiative (GRI) Framework (first company in India) since 2001. In FY 2015-16, Tata Steel became the first company in India to transition to Integrated Reporting through the International Integrated Reporting Framework (IIRC).
In 2020, Tata Steel ranked amongst the top 5 steel companies in Dow Jones Sustainability Indices (DJSI) Corporate Sustainability Assessment. The Company was one of the 11 companies from India and one amongst only two steel companies from Emerging Markets that made it to the DJSI Emerging Markets (EM) Index. Earlier, Tata Steel Group’s climate disclosure has been rated “A-” by the environmental non-profit CDP.
About Tata Steel
Tata Steel group is among the top global steel companies with an annual crude steel capacity of 34 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 $19.7 billion in the financial year ending March 31, 2020.
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 has been a part of the DJSI Emerging Markets Index since 2012 and has been consistently ranked amongst top 5 steel companies in the DJSI Corporate Sustainability Assessment since 2016. Besides being a member of ResponsibleSteelTM and worldsteel’s Climate Action Programme, Tata Steel has won several awards and recognitions including the World Economic Forum’s Global Lighthouse recognition for its Kalinganagar Plant - a first in India, and Prime Minister’s Trophy for the best performing integrated steel plant for 2016-17. The Company, ranked as India’s most valuable Metals & Mining brand by Brand Finance, received the ‘Honourable Mention’ at the National CSR Awards 2019, Steel Sustainability Champion 2019 by worldsteel, CII Greenco Star Performer Award 2019, ‘Most Ethical Company’ award 2020 from Ethisphere Institute, Best Risk Management Framework & Systems Award (2020) by CNBC TV-18, and Award for Excellence in Financial Reporting FY20 by ICAI, among several others.
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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