Dikhyaa Mohanty 
The World Steel Association (Worldsteel) has named Tata Steel a Steel Sustainability Champion 2024 for the seventh year in a row in recognition of the company’s dedication to sustainable development, implementation of best practices, and compliance with international standards. Since the program’s inception in 2018, Tata Steel has emerged victorious each year. With this award, Tata Steel is recognized for its efforts to be at the forefront of the steel industry and for its unwavering commitment to sustainability. Tata Steel is one of the eleven steel-producing businesses that Worldsteel’s April Special General Meeting (SGM) of the Board of Members named 2024 Steel Sustainability Champions.
Tata Steel’s CEO and Managing Director, T V Narendran, stated: “We are honored to be recognized as a Steel Sustainability Champion by the World Steel Association once again. This recognition demonstrates Tata Steel’s dedication to sustainability in all areas of its business. We are committed to bringing about constructive change in the steel industry and beyond, and we will never stop placing a high priority on social responsibility, environmental stewardship, and good governance.
Companies have to fulfill strict requirements in order to be eligible to become Sustainability Champions. This entails adhering to values that prioritize social responsibility, environmental stewardship, and excellent governance, as well as joining the Worldsteel Sustainability Charter.
After that, they are assessed using information on sustainability indicators such as the frequency of lost time injuries, material efficiency, environmental management systems, employee training, investment in new processes and goods, and economic value dispersed. Furthermore, the companies contribute Life Cycle Inventory (LCI) data, which is less than five years old and covers over 60% of the company’s crude steel production data, to Worldsteel’s data collection program.
As one of the original participants in Worldsteel’s Climate Action program, Tata Steel has been acknowledged as an accredited member of the initiative ever since. It has cultivated industry-leading proficiency in life cycle assessment (LCA), a technique that allows it to comprehend the carbon footprints of products in a comprehensive manner, accounting for emissions from the extraction of raw materials, through the manufacturing and use of completed goods like buildings, to the end of their useful lives. Tata Steel has consistently and consistently disclosed annual information to CDP. In terms of climate disclosure, their most recent disclosure from 2023 received an A- rating.
