APN News

  • Saturday, May, 2024| Today's Market | Current Time: 02:33:57
  • Tata Steel Recognised as 2024 Steel Sustainability Champion by worldsteel for the Seventh Consecutive Year

    Published on April 12, 2024

     Bengaluru : Tata Steel has been recognised as a Steel Sustainability Champion 2024 by worldsteel for the seventh consecutive year for its commitment and action to sustainable development and adherence to world-class standards. Tata Steel has been a champion every year since the programme’s launch in 2018. The award acknowledges Tata Steel’s efforts to maintain its leadership as a world-class steel producer that is fully dedicated to the principles of sustainability.

    Tata Steel is among 11 steel-producing companies that have been named 2024 Steel Sustainability Champions at worldsteel’s April Special General Meeting (SGM) of the Board of Members.

    T. V. Narendran, Chief Executive Officer & Managing Director, Tata Steel, said: “We are honoured to be recognised once again as a Steel Sustainability Champion by the World Steel Association. This acknowledgment underscores Tata Steel’s commitment to sustainability across all facets of its operations. We remain dedicated to driving positive change within the steel industry and beyond, as we continue to prioritise environmental stewardship, social responsibility, and sound governance practices.”

    To qualify as a Sustainability Champion, companies must meet stringent criteria. This includes signing the worldsteel Sustainability Charter and committing to principles emphasising environmental stewardship, social responsibility, and governance excellence.

    They are then 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.

    Tata Steel is a founder participant in worldsteel’s Climate Action programme and has been recognised as an accredited Climate Action member ever since. It has developed sector-leading expertise in life cycle assessment (LCA) – a tool that enables it to understand the CO2 impacts of products in holistic terms, taking account of emissions from raw material extraction, through production and use of finished products such as buildings – all the way to the end of life. Tata Steel has a long, unbroken record of annual disclosure to CDP. Its most recent disclosure in 2023 secured a rating of A- in climate disclosure.

    SEE COMMENTS

    Leave a Reply