Tata Steel Limited and Tata Steel Europe recognised by worldsteel as 2022 Steel Sustainability Champions
~ Receives the global recognition for the fifth year in a row ~
Tata Steel Limited and Tata Steel Europe have been recognised as 2022 Steel Sustainability Champions by the World Steel Association. Recognised for the fifth consecutive year this year, Tata Steel India and Tata Steel Europe have been Champions every year since the programme’s launch in 2018. This coveted recognition acknowledges Tata Steel's efforts to maintain its leadership as a world-class steel producer who is fully committed to the principles of sustainability. The World Steel Association has recognised ten companies as Steel Sustainability Champions for their work in 2021.
T.V. Narendran, CEO & MD, Tata Steel, said: “We are honoured to be recognised as Sustainability Champion by worldsteel for the fifth year in a row. At Tata Steel, innovation and responsibility form the core of our pursuit of building a sustainable enterprise and exploring possibilities to enable a better future. While we have invested in breakthrough technologies to mitigate emissions, drive resource efficiency, access low-cost clean energy, and provide circular economy solutions, we remain steadfast in our quest to become industry leaders in sustainability by setting new benchmarks.”
Earlier this year in March, Tata Steel was selected as a member of worldsteel’s 2022 Sustainability Charter for its initiatives and commitment towards sustainable development and circular economy. 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 (the 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). Dow Jones Sustainability Indices have rated Tata Steel amongst the top 10 steel companies globally. The Company has been rated “A” and listed as a 2021 ‘Supplier Engagement Leader’ by CDP, a global environmental non-profit charity, for its initiatives to reduce GHG emissions and tackle climate-change risks across its supply chain. Tata Steel had also been recognised for its Safety and Heath Excellence initiatives by worldsteel under the category ‘Occupational Health Management’.
The winning entries for the Sustainability Champions recognition are evaluated based on the data provided 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, the companies provide Life Cycle Inventory (LCI) data to worldsteel’s data collection programme that covers more than 50% of the company’s crude steel production data and is less than 5 years old. The companies also commit to signing the worldsteel Sustainable Development Charter.
According to worldsteel, the annual sustainability champion recognition programme encourages steel companies to increase their efforts, set higher standards, and make continued progress towards achieving sustainability goals. The programme is also an effective vehicle to demonstrate stronger commitment and proactive engagement of the industry to sustainable development.
The World Steel Association (worldsteel) is one of the largest and most dynamic industry associations in the world, with members in every major steel-producing country. worldsteel represents steel producers, national and regional steel industry associations, and steel research institutes. Members represent around 85% of global steel production.
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 recorded a consolidated turnover of US $21.06 billion in the financial year ending March 31, 2021.
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 has been a part of the DJSI Emerging Markets Index since 2012 and has been consistently ranked amongst top 10 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 Jamshedpur, Kalinganagar and IJmuiden Plants, 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, featured amongst CII Top 25 innovative Indian Companies in 2021, received Steel Sustainability Champion recognition from worldsteel for four years in a row, ‘Most Ethical Company’ award 2021 from Ethisphere Institute, RIMS India ERM Award of Distinction 2021, and Award for Excellence in Financial Reporting FY20 from 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.
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