Tata Steel has been recognized as one of the 2019 World’s Most Ethical Companies by the Ethisphere Institute, a global leader in defining and advancing the standards of ethical business practices.
Company has received the coveted recognition for the eighth time in the
‘Metals, Minerals and Mining’ category and continues to be the driving
force for improving communities, building capable and empowered
workforces, and fostering corporate cultures focused on ethics and a
strong sense of purpose.
Steel has been recognised by the Ethisphere Institute, USA seven times
earlier and is one of the only two honourees in the ‘Metals, Minerals
and Mining’ industry.
In 2019, 128 honourees, spanning 21 countries and 50 industries, have been recognised. The thirteenth class of honorees
profoundly illustrate how companies continue to be the driving force
for improving communities, building capable and empowered workforces,
and fostering corporate cultures focused on ethics and a strong sense of
are honored to be recognised as one of the World’s Most Ethical
Companies for the eighth time now. The Tata name evokes a sense of
Trust, Credibility and Integrity to many millions of stakeholders in
India and overseas. This equity of the Tata group has been earned
through our conduct and operating principles. This recognition enables
us to stay committed to operate with high ethical standards,” said Mr. T. V. Narendran, CEO & MD, Tata Steel.
employees, investors and stakeholders are putting their greatest trust
in companies to take leadership on societal issues. Companies that take
the long view with a purpose-based strategy are proven to not only
outperform but last,” said Ethisphere’s Chief Executive Officer, Timothy Erblich. “I congratulate everyone at Tata Steel for earning this recognition.”
Methodology & Scoring
The World’s Most Ethical Companies assessment is based upon the Ethisphere Institute’s Ethics Quotient® (EQ) framework, which offers a quantitative way to assess a company’s performance in an objective, consistent and standardized manner. The information collected provides a comprehensive sampling of definitive criteria of core competencies rather than all aspects of corporate governance, risk, sustainability, compliance and ethics.
are generated in five key categories: ethics and compliance program (35
percent), culture of ethics (20 percent), corporate citizenship and
responsibility (20 percent), governance (15 percent) and leadership and
reputation (10 percent). All companies that participate in the
assessment process receive their scores, providing them with valuable
insights into how they stack up against leading organizations.
The full list of the 2019 World’s Most Ethical Companies can be found at https://worldsmostethicalcompanies.com/honorees.
Best practices and insights from the 2019 honorees will be released in a report and webcast in March and April of this year.
About Tata Steel
Steel Group is among the top global steel companies with an annual
crude steel capacity of 33 million tonnes per annum (MTPA). 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 $20.41 billion (INR 133,016 crore) in FY18.
In 2018, Tata Steel acquired Bhushan Steel Ltd (now renamed as Tata
Steel BSL Ltd). Currently, Tata Steel’s consolidated India crude steel
production capacity stands at 18.6 MnTPA.
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.
Steel retained Industry Leader position in FY18 and ranked second
overall in the DJSI assessment, 2017. The Company has been recognised as
the Climate Disclosure Leader in ‘Steel category’ by CDP (2017).
Besides being a member of the World Steel Climate Action Programme, Tata
Steel has won several awards including the Prime Minister’s Trophy for
the best performing integrated steel plant for 2016-17, ‘Corporate
Strategy Award’ by Mint (2018), Golden Peacock Award for Risk Management
2018 and Best Risk Management Framework & Systems Award 2019 by
CNBC TV18. The Company also received the ‘World’s Most Ethical
Companies’ award from Ethisphere Institute for the seventh time (2018),
Steel Sustainability Champions (2017) by the World Steel Association,
Dun & Bradstreet Corporate Awards (2017 & 2018), Golden Peacock
HR Excellence Award by Institute of Directors (2017 & 2018) as well
as ‘Asia’s Best Integrated Report’ award by the Asia Sustainability
Reporting Awards (2017), among several others.
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