Tata Steel Limited won the RIMS ERM Global award

Mumbai, November 17, 2022

It the award underlines the robustness of Process, Strategy, Decision Making, and Corporate Culture ~

RIMS, that risk management society®, presented Tata Steel Limited with the 2022 ERM (Enterprise Risk Management) Global Award of Distinction at the 2022 RIMS ERM Conference. The award confess Tata Steel’s outstanding ERM achievements have made this possible organization to streamline processes, strengthening collaboration across company and achieve strategic goals.

Given the dynamic and uncertain business landscape in which Tata Steel operates, Tata Steel has developed and implemented its internal ERM framework to create long-term value by encouraging risk-aware decision-making, and proactively preparing for unforeseen scenarios. This framework incorporates benchmark industry practices, international standards (including COSO & ISO 31000), while also being adapted to the business. Driven by a dedicated team, framework deeply embedded across business units, levels, and functions. It has become a key factor in managing highly impactful economic, supply chain and climate change risks, as well as increasing resilience within organizations.

As an entity with globally diversified operations, Tata Steel relies on risk-smart decision-making to balance growth and profitability with long-term sustainability. Tata Steel Limited is proud to own its ERM framework recognized by RIMS and look forward to engaging, sharing and learning as part of this network of global leaders in risk management.” said Q V. Narendran, CEO & MD, Tata steel.

Tata Steel was awarded the ‘RIMS India ERM Award for Distinction’, the only company to receive this award in India in 2021. The company has also been assessed in the ‘Masters of Risk in Metals & Mining’ and ‘Risk Technology’ category, in its 3rd Edition. -8 ‘Indian Risk Management Awards’ for the sixth time in a row.

About Tata Steel

The Tata Steel Group is one of the top global steel companies with an annual raw steel capacity of 34 million tons per year. It is one of the most geographically diversified steel producers in the world, with operations and commercial presence worldwide. The Group recorded a consolidated turnover of US$32.83 billion in the financial year ending 31 March 2022.

A Great Place To Work CertifiedTM organization, Tata Steel Limited, together with its subsidiaries, associates and joint ventures, is spread across five continents with an employee base of more than 65,000. Tata Steel has been part of the DJSI Emerging Markets Index since 2012 and has consistently been among the top 10 steel companies in the DJSI Corporate Sustainability Assessment since 2016. In addition to being a member of ResponsibleSteelTM, Worldsteel Climate Action Program and World Economic Forum Global Parity Alliance, Tata Steel has won several awards and recognition including World Economic Forum Global Beacon recognition for Jamshedpur, Kalinganagar and IJmuiden Mills, and Prime Minister’s Cup for best performing integrated steel mill for 2016- 17. The company, which is ranked as the most valuable Metals & Mining brand in India by Brand Finance, is among CII Top 25 innovative Indian Companies in 2021 and top 10 sustainable organizations of India Hurun Research Institute in 2021 Capri Global Capital Hurun India Impact 50 , received Steel Sustainability Champion recognition from worldsteel for five consecutive years, ‘Most Ethical Company’ award 2021 from Ethisphere Institute, RIMS India ERM Award of Distinction 2021, Masters of Risk – Metals & Mining Sector award at The India Risk Management Awards during six years in a row, and the FY20 Award for Excellence in Financial Reporting from ICAI, among others.

To find out more, visit www.tattasteel.com and We Also Make Tomorrow

Follow us on Facebook Twitter LinkedIn YouTube Instagram


Statements in this press release that describe the performance of the Company 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 may affect the Company’s operations include economic conditions affecting demand/supply and price conditions in the domestic and foreign markets where the Company operates, changes in or due to the environment, Government regulations, laws, statutes, statements judicial and/or other incidental factors.

For media inquiries contact:

Sarvesh Kumar

Head, Corporate Communications – Tata Steel

Email: sarvesh.kumar@tatasteel.com

Source link