Tata Steel recognised by worldsteel as 2023 Steel Sustainability Champion for the sixth consecutive year
~ Among the only two steel companies in the world to receive this recognition every year since the programme’s launch in 2018 ~
~ Recognised for Company’s outstanding sustainability performance and efforts ~
Tata Steel has been recognised as 2023 Steel Sustainability Champion by the World Steel Association. The Sustainability Champions were announced today at the worldsteel Special General Meeting of the Board of Members held in Vienna, Austria.
Recognised for the sixth consecutive year this year, Tata Steel has been a champion every year since the programme’s launch in 2018. This prestigious award acknowledges Tata Steel's efforts to maintain its leadership as a world-class steel producer that is fully committed to the principles of sustainability.
T.V. Narendran, CEO & Managing Director, Tata Steel said, “We believe sustainability is not only a moral imperative, but also a business opportunity. Being recognised as a Sustainability Champion for the sixth consecutive year by worldsteel reinforces our commitment to sustainable development. We are proud to be a part of the global steel industry - working together to address the challenges of climate change and create a better future for generations to come.”
The entries for the Steel 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, and economic value distributed. In addition, the companies provide Life Cycle Inventory (LCI) data to worldsteel’s data collection programme which covers more than 60% of the company’s crude steel production data and is less than 5 years old.
Earlier this year, Tata Steel was recognised as 2022 ‘Supplier Engagement Leader’ by CDP, a global environmental non-profit charity, for its efforts in measuring and reducing environmental risks across its supply chain. The Company’s Noamundi and Joda East Iron Mines were accorded a 5-Star rating for sustainable development for the year 2021-22 by Indian Bureau of Mines (IBM).
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.
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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About Tata Steel
- Tata Steel group is among the top global steel companies with an annual crude steel capacity of 35 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$32.83 billion in the financial year ending March 31, 2022
- A Great Place to Work-CertifiedTM organisation, Tata Steel Limited, together with its subsidiaries, associates, and joint ventures, is spread across five continents with an employee base of over 65,000
- Tata Steel has announced its major sustainability objectives including Net Zero Carbon by 2045, Net Zero Water consumption by 2030, improving Ambient Air Quality and No Net loss in Biodiversity by 2030.
- The Company has been on a multi-year digital-enabled business transformation journey intending to be the leader in ‘Digital Steel making by 2025’. The Company has received the World Economic Forum’s Global Lighthouse recognition for its Jamshedpur, Kalinganagar and IJmuiden Plants.
- Tata Steel aspires to have 25% diverse workforce by 2025. The Company has been recognised with the World Economic Forum’s Global Diversity Equity & Inclusion Lighthouse 2023
- The Company 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
- Tata Steel’s Jamshedpur Plant is India’s first site to receive ResponsibleSteelTM Certification
- Received Prime Minister’s Trophy for the best performing integrated steel plant for 2016-17, Steel Sustainability Champion recognition from worldsteel for five years in a row, and ‘Most Ethical Company’ award 2021 from Ethisphere Institute
- Recognised with 2022 ERM Global Award of Distinction, ‘Masters of Risk’ - Metals & Mining Sector recognition at The India Risk Management Awards for the sixth consecutive year, and Award for Excellence in Financial Reporting FY20 from ICAI, among several others
Photographs: Management and Plant facilities
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