Working with you on sustainable vehicles and value chains
Companies are increasingly disclosing carbon performance and one globally recognised platform for this is CDP Worldwide. Carbon disclosure is important because it demonstrates openness and transparency while providing data to supply chain partners.
Carbon disclosure can be thought of as cascaded down the supply chain, driven by the request of major purchasing organisations, including Microsoft, Unilever and automotive companies such as BMW, Honda and Toyota. In 2019, more than 8,400 companies disclosed environmental data through CDP making it the gold standard in corporate environmental reporting. Indeed, we see an increasing interest from our customers requesting our disclosure via the CDP platform each year.
Tata Steel has long been supporting customers in this request and has been disclosing carbon performance via CDP for around 14 years. Tata Steel submits a combined disclosure for both Indian and European operations, and I am always grateful to my colleagues across the business for their excellent work on this.
Therefore it is especially pleasing that our company has been identified as a global leader for engaging with its suppliers on climate change, being awarded a position on the Supplier Engagement Leaderboard by CDP for the first time, in the last reporting year, 2019. As one of the 160 companies on the Leaderboard, this puts Tata Steel among the top 3% of organisations assessed along with house-hold names like Coca Cola, Sony and Nestlé.
Such an award is great to receive but carbon disclosure is a journey and while we are some way down the road, there is a long way to go. Our experts are continually increasing coverage of our operations and improving the quality of data measurement and reporting . This helps us target improvements internally and allows us to work with our supply chain partners to drive emissions reductions across our value chains.
I am a strong supporter of the principle of disclosing environmental performance via such platforms and believe it offers real potential for change.