Koushik Chatterjee, Executive Director and CFO, Tata Steel, appointed as Trustee and Board member of the IFRS Foundation, and Advisory Board member of the UN Global Compact CFO Coalition for the SDGs
Mumbai, December 24, 2022
Koushik Chatterjee, Executive Director & Chief Financial Officer, Tata Steel, has been appointed as one of the six new Trustees of the IFRS Foundation for a 3-year term beginning January 1, 2023. He has also been appointed as a member of the Advisory Board of the UN Global Compact CFO Coalition for the Sustainable Development Goals (SDGs), where he will be the sector lead for Industrial Goods and represent the Asia-Pacific geography.
The IFRS Foundation is responsible for development of disclosure standards through the International Accounting Standards Board (IASB) and International Sustainability Standards Board (ISSB). The Foundation Trustees drive strategy, governance and oversight and the new appointments reflect a greater emphasis on sustainability standard-setting.
The CFO Coalition for the SDGs is geared towards increasing private sector participation in the initiative by incorporating the SDGs into corporate finance and create a $10 trillion market for SDG-directed finance by 2030. The advisory board provides industry and geographical expertise, guides strategy and drives greater membership of the coalition.
Koushik Chatterjee, Executive Director & Chief Financial Officer, Tata Steel, is also a member of the Task Forces on Climate related Financial Disclosures (TCFD) and Nature Related Financial Disclosures (TNFD). He said: “It’s a privilege to join the IFRS foundation as Trustee from the new year, at a time when we are readying to globally bring in a new integrated future of financial and sustainability reporting, in line with expectations of investors, regulators, communities, and stakeholders. I am also happy to join the Advisory Board of the UNGC CFO Coalition for the SDGs which hopes to embed SDGs in capital investment and strategic decisions in corporations. I look forward to working with other members to drive our ambitious initiatives while contextualising them for sector and geographical perspectives. Sustainable Financing, effective and transparent reporting and disclosures will help corporations to accelerate the transition to a more sustainable long-term future”.
About Tata Steel
Tata Steel group is among the top global steel companies with an annual crude steel capacity of 34 million tonnes per annum. It is one of the world’s most geographically diversified steel producers, with operations and commercial presence across the world. The group recorded a consolidated turnover of US $ 32.83 billion in the financial year ending March 31, 2022.
A Great Place to Work-CertifiedTM organisation, Tata Steel Limited, together with its subsidiaries, associates, and joint ventures, is spread across five continents with an employee base of over 65,000. Tata Steel has been a part of the DJSI Emerging Markets Index since 2012 and has been consistently ranked amongst top 10 steel companies in the DJSI Corporate Sustainability Assessment since 2016. Besides being a member of ResponsibleSteelTM, worldsteel’s Climate Action Programme and World Economic Forum’s Global Parity Alliance, Tata Steel has won several awards and recognitions including the World Economic Forum’s Global Lighthouse recognition for its Jamshedpur, Kalinganagar and IJmuiden Plants, and Prime Minister’s Trophy for the best performing integrated steel plant for 2016-17. The Company, ranked as India’s most valuable Metals & Mining brand by Brand Finance, featured amongst CII Top 25 innovative Indian Companies in 2021 and top 10 sustainable organisations of India Hurun Research Institute in the 2021 Capri Global Capital Hurun India Impact 50, received Steel Sustainability Champion recognition from worldsteel for five years in a row, ‘Most Ethical Company’ award 2021 from Ethisphere Institute, RIMS India ERM Award of Distinction 2021, Masters of Risk – Metals & Mining Sector recognition at The India Risk Management Awards for the sixth consecutive year, and Award for Excellence in Financial Reporting FY20 from ICAI, among several others.
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