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Why Tata Is An Ethical Company Of India- By Sourav Goswami (SAP ABAP, Consultant at Tata Steel)

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Ethical behaviour is intrinsic way to conduct the business and is part of the legacy from the founder of the Tata Group, Jamsetji Tata, who believed that business must be operated in a way that respects the rights of all its stakeholders and creates an overall benefit for society. Tata is honoured to be recognized as one of the World’s Most Ethical Companies for the eighth time by the Ethisphere Institute, a global leader in defining and advancing the standards of ethical business practices.

Ethisphere recognition honours companies that recognize their critical role to influence and drive positive change in the business community and societies around the world. The World's Most Ethical Companies assessment is based upon the Ethisphere Institute’s Ethics Quotient (EQ) framework. This 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. Scores are generated in five key categories that is 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.

Tata 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. Tata Steel together with its subsidiaries, associates and joint ventures, is spread across five continents with an employee base of over 65,000.

Tata Steel retained Industry Leader position in FY18 and ranked second overall in the DJSI assessment, 2017. The Company has been recognized as the Climate Disclosure Leader in ‘Steel category’ by CDP (2017). Besides being a member of the World Steel Climate Action Program, 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),and several others.

The name of Tata evokes a sense of Trust, Credibility and Integrity to many millions of stakeholders in India and as well as in the overseas. This equity of the Tata group has been earned through their conduct and operating principles. This recognition enables them to stay committed and also to operate with the high ethical standards.

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