Tata Steel Recognised as 2024 Steel Sustainability Champion by worldsteel for the Seventh Consecutive Year

Mumbai, April 10, 2024

~ Among the only two steel companies in the world to receive this recognition every year since the programme’s launch in 2018 ~

~ Recognised for the Company’s outstanding sustainability performance and efforts ~

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

About worldsteel

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.

Disclaimer

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.

For queries and information

Sarvesh Kumar,
Chief Corporate Communications, Tata Steel,
E-mail : sarvesh.kumar@tatasteel.com

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$30.3 billion in the financial year ending March 31, 2023.
A Great Place to Work-Certified^TMorganisation, Tata Steel Limited, together with its subsidiaries, associates, and joint ventures, is spread across five continents with an employee base of over 77,000.
Tata Steel has announced its major sustainability objectives including Net Zero Carbon by 2045.
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 ResponsibleSteel^TM Subsequently, its Kalinganagar and Meramandali plants have also received the certification. In India, Tata Steel now has more than 90% of its steel production from ResponsibleSteel^TM certified sites.
Received Prime Minister’s Trophy for the best performing integrated steel plant for 2016-17, 2023 Steel Sustainability Champion recognition from worldsteel for six years in a row, 2022 ‘Supplier Engagement Leader’ recognition by CDP, Top performer in Iron and Steel sector in Dun & Bradstreet's India's top 500 companies 2022, Ranked as the 2023 most valuable Mining and Metals brand in India by Brand Finance, ‘Most Ethical Company’ award 2021 from Ethisphere Institute, and ‘Best Corporate for Promotion of Sports’ recognition at the Sportstar Aces Awards 2024.
Received 2023 ERM (Enterprise Risk Management) Award of Distinction at the RIMS ERM Conference 2023, ‘Masters of Risk’ - Metals & Mining Sector recognition at The India Risk Management Awards for the seventh consecutive year, and Award for Excellence in Financial Reporting FY20 from ICAI, among several others.