December 06, 2006

Ratan Tata bags FIRST award for responsible capitalism

At a special ceremony at Marlborough House, London attended by over 250 prominent business leaders, parliamentarians, and ambassadors, The Princess Royal presented the FIRST Award for Responsible Capitalism to Ratan Tata, the Chairman of Tata Group.

Mr Tata becomes the eighth head of an international corporation to receive the award. The previous winners have been Lord Browne of Madingley, Group Chief Executive of BP (2000), Marilyn Carlson Nelson, Chairman and Chief Executive Officer of Carlson Companies (2001), Sir Robert Wilson KCMG, Executive Chairman of Rio Tinto (2002) and now Chairman of the BG Group, Dr Daniel Vasella, Chairman and CEO of Novartis AG (2003), Mr Morris Tabaksblat KBE, Chairman of Reid Elsevier and Mr Jaime Zobel de Ayala, Chairman of Ayala Corporation (joint winners 2004), and Mr Alan Wood CBE, Chief Executive of Siemens plc (2005).

When deciding for the award, the judges were looking for business leaders who have consistently demonstrated social responsibility as an integral part of commercial success, examining in particular the manner in which their businesses interact both with the environment and the social communities in which they operate.

In making the award to Mr Tata, Lord Woolf said ‘Mr Ratan Tata has demonstrated how it is possible to combine being an extremely successful leader of a highly innovative companies with social responsibility and concern for the environment and the well-being of the local communities in which those companies operate around the globe. He receives the award at a particularly appropriate moment in the relations between UK and India.

The judging panel was chaired by the Rt Hon Lord Woolf, former Lord Chief Justice, and includes Lord Dahrendorf KBE, Chief Emeka Anyaoku GVCO TC CFR, Lord Browne of Madingley, Marilyn Carlson Nelson, Rt Hon Lord Howe of Aberavon CH QC, Lord Plant of Highfield, Hon Philip Lader, Sir Robert Wilson KCMG, Dr Daniel Vasella, Sir Patrick Cormack FSA MP, Lord Marshall of Knightsbridge and Morris Tabaksblat, KBE.

About the Award
The Award for Responsible Capitalism was initiated by First in 2000 to honour business leaders who have excelled by achieving both commercial success and demonstrating social responsibility. Rupert Goodman, Chairman of FIRST said, "We at FIRST believe that commercial success can be assessed in terms of standard criteria, but that social responsibility involves a greater sense of the needs of the wider community as well as shareholders, a special interest in the well-being of groups in need, care for the areas in which the business operates, environmental initiatives, and support for the arts and culture’.

About FIRST
FIRST is a multidisciplinary International Affairs organisation. Founded in 1984 it aims to enhance communications between leaders in industry, finance and government, worldwide and promote strategic dialogue. This is achieved via three key channels: publishing, events and awards.

Award schemes
In 2000, FIRST instituted the International Award for Responsible Capitalism to honour business leaders who have excelled in both commercial success and social responsibility. The adjudicating panel is chaired by Lord Woolf and includes Lord Dahrendorf KBE, Rt. Hon. Lord Howe of Aberavon CH QC, Hon. Philip Lader, Lord Plant of Highfield, Chief Emeka Anyoaku GCVO, Lord Browne of Madingley (Group Chief Executive of BP), Sir Patrick Cormack FSA MP, Marilyn Carlson Nelson (Chair of the Carlson Group), Sir Robert Wilson KCMG (Chairman of BG), and Dr Daniel Vasella (Chief Executive of Novartis) and Morris Tabaksblat KBE.