Tata Steel has been recognized by Ethisphere Institute, a global leader in defining and advancing the standards of ethical business practices, as the World’s Most Ethical Company for the year 2018, a press release has said.
The company has received the award for the sixth time in the ‘Metals, Minerals and Mining’ category, the release added.
A total of 135 honorees from 23 countries are being recognized in 2018, the release said adding that the award will be bestowed on March 13.
Tata Steel has been recognized by Ethisphere Institute USA five times earlier, in 2012, 2013, 2015, 2016 and 2017.
T V Narendran, CEO and Managing Director, Tata Steel, said: "It’s a privilege for us to be receiving this recognition for the sixth time. It is also a befitting reminder to continue upholding the legacy of leadership with trust that underlines our business philosophy."
The World’s Most Ethical Company assessment is based on the Ethisphere Institute’s Ethics Quotient (EQ) framework. 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: ethics and compliance program (35%), corporate citizenship and responsibility (20%), culture of ethics (20%), governance (15%) and leadership, innovation and reputation (10%), the release added.