Tata Steel Limited and Tata Steel Europe have again made it to the influential list of sustainability champions, collated by worldsteel, for the fourth year in series.
The popular recognition is conferred 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 centres 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 firms as Steel Sustainability Champions for their work in 2020. Currently in its fourth year, the programme commends the steel companies that clearly display their commitment to sustainable development.
The winning entries for recognition as the Sustainability Champions were assessed on the basis of sustainability indicators like material efficiency, environmental management systems, lost time injury frequency rate, employee training, investment in new processes and products, economic value distributed.
Furthermore, 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 firms also commit themselves to signing the World Steel Association's Sustainable Development Charter.
Tata Steel has been a forge 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 firm 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.
