The risk management society RIMS has presented Tata Steel with the 2022 Enterprise Risk Management Global Award of Distinction at the RIMS ERM Conference 2022. The award recognizes Tata Steel’s outstanding ERM achievements that have enabled the organization to streamline processes, strengthen collaboration across the enterprise and achieve strategic objectives. Given the dynamic and uncertain business landscape it operates in, Tata Steel has developed and deployed in-house its ERM framework to create long-term value by driving risk-intelligent informed decision-making, and proactively preparing for unforeseen scenarios. The framework incorporates benchmark industry practices, international standards (including COSO & ISO 31000), while also being customized to the business. Driven by a dedicated team, the framework is deeply embedded across business units, levels and functions. It has been a key factor in managing highly impactful economic, supply chain and climate change risks, as well as increasing resilience in the organization. Tata Steel was conferred the ‘RIMS India ERM Award for Distinction’, the only company to receive this award in India in 2021. The Company has also been adjudged ‘Masters of Risk in Metals & Mining’ and ‘Risk Technology’ categories, at the 8th edition of ‘The India Risk Management Awards’ for the sixth time in a row.
The risk management society RIMS has presented Tata Steel with the 2022 Enterprise Risk Management Global Award of Distinction at the RIMS ERM Conference 2022. The award recognizes Tata Steel’s outstanding ERM achievements that have enabled the organization to streamline processes, strengthen collaboration across the enterprise and achieve strategic objectives. Given the dynamic and uncertain business landscape it operates in, Tata Steel has developed and deployed in-house its ERM framework to create long-term value by driving risk-intelligent informed decision-making, and proactively preparing for unforeseen scenarios. The framework incorporates benchmark industry practices, international standards (including COSO & ISO 31000), while also being customized to the business. Driven by a dedicated team, the framework is deeply embedded across business units, levels and functions. It has been a key factor in managing highly impactful economic, supply chain and climate change risks, as well as increasing resilience in the organization. Tata Steel was conferred the ‘RIMS India ERM Award for Distinction’, the only company to receive this award in India in 2021. The Company has also been adjudged ‘Masters of Risk in Metals & Mining’ and ‘Risk Technology’ categories, at the 8th edition of ‘The India Risk Management Awards’ for the sixth time in a row.
