Financial Daily from THE HINDU group of publications
Tuesday, Dec 31, 2002
Financial Daily from THE HINDU group of publications Tuesday, Dec 31, 2002 |
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Corporate
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Outlook Tata Steel to focus more on sustainable development Nilanjan Dey
JAMSHEDPUR, Dec. 30 TATA Steel is looking at further conforming to `triple bottomline reporting' standards that will cover various economic, environment and social aspects. The company would like to catch up with global initiatives on sustainable development, said Mr A.N. Singh, Deputy MD. He was addressing newspersons here on Monday. The plan is to excel in various areas of development in order to increase the company's usefulness to society, especially with regard to its various stakeholders, investors, suppliers, government, etc. Tata Steel, it is claimed, is the only corporate house in India that reports its performance on the basis of certain global guidelines. The company claims to have the right `mindset' that is required to excel in this direction. On Monday, Mr Singh received the ISO 14001 Certification from IRQS, the certifying authority. "The certification is a recognition of our environmental management system, which enables us to formulate policy with regard to the environment," he said, adding that Tata Steel's "town division" is the country's first civic services provider to be so certified. The "town division" is responsible for water supply, sewage disposal, sanitation, power and logistics, said Mr Manzar Hussain, GM - town services. He added Tata Steel would urge the citizens of Jamshedpur to conserve water, avoid wastage of electricity and minimise the use of non-biodegradable materials (plastic). It would also encourage public organisations like schools to preserve natural resources and control pollution. The company has an annual budget of about Rs 125 crore to look after the upkeep of the city. Incidentally, Jamshedpur started off with a population of about 6,000 in 1910; today it is home to about 6,00,000 residents.
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