The annual materiality assessment exercise enables us to improve and deliver the ESG priorities identified.
Governance oversight: Safety, Health, Environment & Sustainability Committee
During FY 2023-24, we undertook a stakeholder-driven materiality assessment exercise. The objective of the assessment was to capture the perspectives of all stakeholders and adopt a holistic approach towards issues that are material to Tata Chemicals in terms of ESG.
Ensuring safe work environment, emergency preparedness, digitised reporting
Maintaining the highest level of code of conduct and ethics, through robust training and policy frameworks
Minimising CO2 footprint through de-carbonisation levers of Switching to Low Carbon Fuels, Energy Efficiency, Carbon Capture & Utilisation and Renewable Energy; Adopting strategies to mitigate the long-term impact on climate change
Focussing Corporate Governance practices on enhancing accountability, ethical behaviour and fairness to all stakeholders
Adopting various measures in the manufacturing processes to reduce waste material, with the aim to ensure zero waste to landfill
Reducing dependency on water, considering that it is a limited resource and is essential to the production of goods; recycling as much as possible and reusing water across operations
Important human capital development issues, including training of employees/ delivery partners, inter-department learning, job up-skilling
1
At Tata Chemicals, we are focussed on process optimisation, cleaner fuel transition, along with conversion and retrofitting of equipment for improving our energy efficiency. Currently, feasibility studies are being carried out to drive energy savings through process efficiency and fuel shift for increasing the mix of renewable energy.
2
Diversity and inclusion is actively promoted at Tata Chemicals through diverse hiring, flexible working and equal pay. Regular people feedback enables us to take concerted initiatives to strengthen our people policies. We conduct regular surveys to gauge their concerns and assess their satisfaction levels.
3
We are continuously working to maintain positive community relations in the areas of our operations. We are focussed on mitigating any adverse impact of our operations on their living conditions. We take initiatives to improve the socio-economic status of the communities and empower them. Our initiatives span the areas of livelihood generation, health and wellbeing, education and sustainable development.
4
Tata Chemicals conducts risk assessments to ensure that its products are safe to be handled by the customers and other end users. We collaborate with our stakeholders on reciprocal projects to promote product and operational safety. We have prioritised the delivery of customer satisfaction for all our products. Our products are designed, manufactured and supplied to meet all safety and regulatory requirements. We continuously strive to improve our systems to ensure product safety and quality, with stringent adherence to the highest standards.
5
We disclose all key tax issues under scrutiny and risks related to tax as required under the statute. All tax issues are examined by external auditors on a quarterly basis and also by internal auditors. As a practice, all tax cases are discussed with the Management, Audit Committee, Risk Committee and the Board on a regular basis.
