Tata Steel selected as a member of worldsteel’s New Sustainability Charter for its efforts towards Sustainable Development
Tata Steel has been selected as a member of worldsteel’s New Sustainability Charter for its initiatives and commitment towards sustainable development and the circular economy.
The World Steel Association (worldsteel) released its revised and expanded Sustainability Charter on March 3, 2022. The new Charter reflects the steel industry’s increasing focus and action-oriented approach on sustainability and its responsibility to generate positive impacts on people, our planet, and the prosperity of society. The new Sustainability Charter is organised into 9 principles with 20 associated criteria, which cover environmental, social, governance and economic aspects of sustainability. The leaders of 39 worldsteel members, including Tata Steel, have provided evidence that they are aligned with these criteria, have signed the Charter, and are therefore recognised as Charter Members for a 3-year period.
T.V. Narendran, Chief Executive Officer & Managing Director Tata Steel, said: “Tata Steel is delighted to be a member of worldsteel’s new Sustainability Charter. It reaffirms our commitment towards achieving industry leadership in sustainability.
Edwin Basson, Director General, worldsteel, said: “Sustainability is a business requirement and a fundamental component of all industries’ operations. Ethical and socially responsible companies need to be able to demonstrate to their stakeholders how they perform and where they are heading. With the release of this Charter the steel industry reaffirms its commitment to sustainability and demonstrates the industry’s enhanced efforts and aligned actions towards a sustainable society.”
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 is a signatory to the worldsteel New Sustainability Charter and has been recognised as ‘Sustainability Champion’ four times in a row. 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.
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. Members of worldsteel are committed to a vision where steel is valued as a vital material for a sustainable world, taking leadership to generate positive impacts on people, our planet and the prosperity of society.
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