WorldSteel recognized as Steel Sustainability Champion
Mumbai: Tata Steel has been recognized as the Steel Sustainability Champion 2024 for the seventh consecutive year by the World Steel Association (WorldSteel) for its commitment and action towards sustainable development and adherence to world-class standards. Tata Steel has been the champion every year since the launch of the program in 2018. The award recognizes 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 one of the 11 steel producing companies named 2024 Steel Sustainability Champions at the April Special General Meeting (SGM) of the Board of Members of WorldSteel.
TV Narendran, Chief Executive Officer and Managing Director, Tata Steel, said: “We are honored to once again be recognized as a Steel Sustainability Champion by the World Steel Association. This approval underlines Tata Steel’s commitment to sustainability in all aspects of its operations. We are dedicated to driving positive change in the steel industry and beyond, as we continue to prioritize 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 that emphasize environmental stewardship, social responsibility and governance excellence.
They are then evaluated based on the data provided on sustainability indicators such as material efficiency, environmental management systems, lost time injury frequency rates, employee training, investment in new processes and products, and economic value delivered. In addition, companies provide Life Cycle Inventory (LCI) data to WorldSteel’s data collection program, which covers more than 60% of the company’s crude steel production data and is less than 5 years old.
Tata Steel is a founding partner in WorldSteel’s Climate Action Program and has since been recognized as an Accredited Climate Action Member. It has developed field-leading expertise in life cycle assessment (LCA) – a tool that allows it to holistically account for the CO2 impacts of products, taking into account emissions from the extraction of raw materials through to the production and use of finished products such as buildings. Enables understanding. – until death do us part. Tata Steel has a long, unbroken record of annual disclosures to the CDP. Its most recent disclosure in 2023 achieved a rating of A- in climate disclosure.
