Tata Steel recognised as 2021 ‘Supplier Engagement Leader’ for effectively taking actions to measure and reduce environmental risks across its Supply Chain
~ Features amongst top 8% of organisations assessed by CDP ~
Tata Steel has been rated “A” and is listed as 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. This is the second time in three years that the Company has been included on the Global Leaderboard.
Over the last three decades, Tata Steel has made concerted efforts in various areas including supply chain to mitigate climate change and manage climate risks. Tata Steel launched its Responsible Supply Chain Policy in FY20 to encourage supply chain partners to integrate sustainability principles in their decisions and processes. The Company works in collaboration with its supply chain partners towards promoting sustainable business practices for a better planet.
Sanjiv Paul, Vice President (Safety, Health & Sustainability), Tata Steel, said: “We are delighted to feature in CDP’s 2021 Supplier Engagement leaderboard. This recognition reflects our commitment to sustainability. We are conscious of our responsibilities towards environment and communities and will continue to collaborate with all our stakeholders to pursue a greener and better tomorrow.”
Peeyush Gupta, Vice President, Supply Chain, Tata Steel, said: “As part of our vision to be the global steel industry benchmark in value creation and corporate citizenship, we are committed towards climate action and adopting sustainable practices across our value chain. We will continue to engage with our supply chain partners and encourage them to adopt and maintain management practices to improve their energy & resource efficiency and environmental performance. We have also taken several initiatives over the last two years to lower Scope 3 carbon emissions and have plans to significantly reduce our footprint in future.”
Sonya Bhonsle, Global Head of Value Chains & Regional Director Corporations, CDP, said: “Our data shows that companies currently have blinkers on when it comes to assessing their indirect impacts and engaging with suppliers to reduce them. Companies must act urgently to cascade action and manage environmental impacts throughout their supply chains to scale the level of action to secure a 1.5°C future. As a Supplier Engagement Leader, Tata Steel is a trailblazer driving the transition towards a sustainable net-zero future.”
Tata Steel has identified key Environmental, Social and Governance (ESG) risks in supply chain and is collaborating with its partners for risk mitigation. The key initiatives of the organisation with supply chain partners include engagements with customers to work on mutually rewarding initiatives (e.g. Value Analysis and Value Engineering), furnishing Life Cycle information of products, supplier engagements through sustainability screening & recognising them for taking relevant initiatives while sharing good practices with the fraternity, participation in global collaborations like ResponsibleSteelTM (development of certification criteria for steelmaking sites), Mining and Metal Blockchain Initiative of World Economic Forum (tracking supply chain carbon footprint), ETC-WEF initiative of Net Zero Steel Initiative (Net Zero Steel Pathway Methodology Project), Assessing low-Carbon Transition (Steel sector specific framework development), World Steel Association (Climate Action Member, Step-Up network), Technology Roadmap for I&S sector developed by International Energy Agency, National taskforce by Ministry of Steel on achieving Nationally Determined Contributions (NDC) and more.
CDP’s ‘Supplier Engagement Rating’ (SER) provides a rating for how effectively companies are engaging their suppliers on climate change – assessing their performance using a CDP climate change questionnaire on Governance, Targets, Scope 3 emissions, and Value Chain engagement.
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.
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.
For media enquiries contact:
Chief, Corporate Communications - Tata Steel