83rd Year | 2021-22 | Integrated Annual Report
We have a structured and systematic process to identify, analyse and manage material matters. This helps us in better understanding the impact of our business on stakeholders and vice-versa, and thus aligns priorities to drive our value creation.
In FY 2020-21, we had conducted a product level value chain analysis for TCL India and Rallis operations in a phased manner covering extraction, inbound logistics, production, outbound logistics and customer. Based on this, criticality screening was done to identify and prioritise material issues as well as identify actionable topics to strengthen the value chain.
In FY 2021-22, we have internally revisited these material topics in line with various global frameworks such as TCFD, DJSI, SASB and GRI, key material global trends of chemical industry and peer industry benchmarking. Their relative importance was accordingly updated in the materiality matrix basis these findings along with continuous status analysis. Further, internal strategy meets and deep dives were undertaken to analyse the material topics with our teams.
We have also developed a structured roadmap and focus on increased engagement with respective stakeholders to address critical aspects.
TCFD - Task Force on Climate-Related Financial Disclosures; DJSI - Dow Jones Sustainability Indices; SASB - Sustainability Accounting Standards Board; GRI - Global Reporting Initiative