March 07, 2013

Tata Steel recognised among world's most ethical companies

Steel major recognised for demonstrating leadership in ethical business practices

Jamshedpur: The Ethisphere Institute, a leading international organisation dedicated to the creation, advancement and sharing of best practices in business ethics, governance, anti-corruption and sustainability has named Tata Steel among the world’s most ethical companies for 2013.

The award was received by Tripti Roy, ethics counsellor, Tata Steel, at a function held in New York. The recognition was awarded post-assessment on a number of parameters which included reputation, innovation and leadership, compliance and ethics programme, training and communication, corporate governance, corporate citizenship, sustainability and responsibility.

On receiving the recognition, HM Nerurkar, MD, Tata Steel, congratulated all the employees of Tata Steel and said, “It is truly an honour to be recognised for our ethical practices which have always been the driving principle in the way we conduct our business. The ethical practices stems through the history of Tata Steel which were set and emphasised by our Founder, JN Tata, and incorporated throughout our culture.”

A record number of nominations and applications for the award were received this year, which is evidence of its growing recognition amongst the stakeholder groups and companies.

Ethisphere reviewed nominations from companies in more than 100 countries and 36 industries through in-depth research and multi-step analysis. The methodology for World’s Most Ethical Companies includes reviewing codes of ethics, litigation and regulatory infraction histories; evaluating the investment in innovation and sustainable business practices; looking at activities designed to improve corporate citizenship; and studying nominations from senior executives, industry peers, suppliers and customers.