We conduct a thorough analysis of the external and internal environment through a quadrennial materiality exercise involving all internal and external stakeholders. The position of material issues are updated in the materiality matrix basis these findings along with continuous status analysis by the Management Review Committee (MRC). A structured roadmap and increased engagement with respective stakeholders helps address critical aspects.
In FY 2020-21, we conducted product value chain analysis for TCL India and Rallis operations in a phase-wise manner which includes extraction, inbound logistics, production, outbound logistics and customer. Each part of this value chain was assessed on multiple parameters with the relevant team members. Based on this, criticality screening was conducted to understand the degree (high, medium, low) of economic, environment, social impact and identify actionables to strengthen the value chain.
A valuable economical model to maximise natural materials usage by recycling them during the value chain processes
Biodiversity and ecosystem preservation directly contribute to primary development and community well-being
Rising focus on climate change and Nationally Determined Targets and a shift from disaster recovery to climate resilience
Our employees face risks of working with hazardous chemicals at power plants, occupational health & safety (OHS) and complacent individual behaviour
Being energy-intensive, chemical industry is impacted by volatility in energy prices and availability and the growing concern for the environment (cleaner fuels)
We constantly engage with customers to meet their needs of value-added products and responsive services. This ensures high customer satisfaction and retention.
We undertake social initiatives globally to drive socio-economic development, protecting the environment and biodiversity and towards supporting the community during emergencies. This ensures business and societal growth and adherence to regulatory requirements, thereby enhancing our reputation among global investors.
We, along with our supply chain, are undertaking initiatives to make our operations safer and more sustainable across the value chain (manufacturing, storage, transport, consumption, disposal and recycling). This enhances our competitiveness and enables us to meet the growing expectations for sustainable products from regulators and customers.
We have robust processes (conducting audits and sustainability assessments) to onboard contractors, suppliers and partners having appropriate skills and following robust practices. Further, we support them in building robust systems. This enables us to execute operations efficiently and ensures win-win relationships.
We follow global best practices for product handling, storage, transportation and distribution. We also encourage and train our distribution value chain to adopt similar practices. We have put systems to track and assess incidents related to product spills, transport accidents and product and packaging quality. This prevents serious incidents and protects our reputation.
We undertake programmes such as Tata LEAD and Tata Affirmative Action alongside employment, entrepreneurship and education initiatives to drive diversity across race, sex and age. Presence of diverse perspectives is enabling problem-solving and innovation across the organisation, positioning us to grow global operations.
As a Tata Group company, we have high standards of ethical practices. We ensure integrity and ethical practices across all our dealings as well as those involving our supply chain partners who are required to follow practices on human rights, antibribery and anti-corruption. We are constantly improving our governance framework and policies by benchmarking to best practices and creating awareness of the Tata Code of Conduct.
Our people focus on nurturing their passion and commitment through multiple wellness, learning and development, engagement, building team management skills, reward and recognition initiatives. We encourage cross-geography and cross-functional deputations to rejuvenate enthusiasm. These initiatives make us a great place to work with high level of employee engagement and satisfaction index, resulting in higher work productivity to achieve desired goals together.