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Tata Steel Named One of 100 Most Sustainable Corporations in the World
02/01/2010 - Tata Steel has been rated amongst the top 100 most sustainable corporations in the world by Corporate Knights, the magazine for clean capitalism.
Tata Steel has been rated amongst the top 100 most sustainable corporations in the world by Corporate Knights, the magazine for clean capitalism.
Originally launched in 2005, the Global 100 aims to highlight global corporations that have been most proactive in managing environmental, social and governance (ESG) issues. The 2010 Global 100 includes companies from 24 countries encompassing all sectors of the economy, with a collective enterprise value of $4 trillion, and three million employees.
“We are pleased to note the announcement of the top Global 100 Sustainable Companies,” said Hemant M. Nerurkar, MD Tata Steel, commenting on the honor. “Over the last one hundred years that we have been in business, we have always strived for inclusive growth by following responsible business practices that focus on social and environmental sustainability, and are aimed at creating value for all our stakeholders.”
The 2010 Global 100 identified the top 10% of companies from a universe of 3000 global stocks based on intelligence from the world's largest sustainability research alliance put together by Legg Mason's Global Currents Investment Management. These leading companies were then transparently ranked based on 10 key performance indicators including Energy Productivity, CO2 Productivity, Water Productivity, Waste Productivity, Leadership Diversity, CEO-to-Average Worker Pay, % Tax Paid, Sustainability Leadership, Sustainability Pay Link, Innovation Capacity & Transparency. Data for the assessment were sourced from ASSET4, a Thomson Reuters business, and The BLOOMBERG PROFESSIONAL® service.
Corporate Knights announced its Sixth annual global list of the world 100 most sustainable corporations at the World Economic Forum at Davos. Tata steel was at the top of the Materials industry group for energy productivity, reporting $263,867 in sales per gigajoule of energy consumed.
Established in 1907 as Asia's first integrated private sector steel company, Tata Steel Group is among the top-ten global steel companies with an annual crude steel capacity of over 28 million tonnes per annum. It is now the world's second-most geographically-diversified steel producer, with operations in 26 countries and a commercial presence in over 50 countries. The Tata Steel Group, with a turnover of US$ 29 billion in FY '09, has over 80,000 employees across five continents and is a Fortune 500 company. In 2008, Tata Steel India became the first integrated steel plant in the world, outside Japan, to be awarded the Deming Application Prize 2008 for excellence in Total Quality Management.
Founded in 2002, Corporate Knights Inc. is an independent Canadian-based media company focused on prompting and reinforcing sustainable development.
The Global 100 Most Sustainable Corporations in the World is an annual project initiated by Corporate Knights, the magazine for clean capitalism. In 2010, Corporate Knights collaborated with three strategic partners to identify the Corporate Knights Global 100 Most Sustainable Corporations in the World: Inflection Point Capital Management, a sustainability-focused asset management venture founded by Dr. Matthew Kiernan, Legg Mason's Global Currents Investment Management, and Phoenix Global Advisors LLC (a consulting and technology platform focused on sustainability).
