Our approach is based on a strong commitment to responsibly benefit society, our people, shareholders, communities, and other stakeholders. We aim to optimise economic value while meeting environmental and social standards.
Our sustainability strategy, based on the Environmental, Social and Governance (ESG) framework aims to create long term stakeholder value and sustainable growth for our business. It stems from our responsibility towards the three key pillars – People, Planet and Community. It is also aligned to the UN Sustainable Development Goals, Tata Group Sustainability Strategy and our company’s materiality assessment and its impact on the external environment.
We are proactively integrating sustainability across our value chain, making it a fundamental pillar of our corporate strategy. This commitment is reflected in our Corporate Scorecard, where we include key sustainability indicators relevant to our business growth. We have set both long-term and short-term sustainability goals and are diligently working to achieve it. Our approach to Enterprise Risk Management and Strategic Planning Process also incorporates sustainability components. We have set up several leadership committees to oversee progress on our ESG goals. Additionally, we engage in and initiate internal as well as external assessments of our sustainability processes and systems.
CSR, Safety and Sustainability aspects are being reviewed at multiple levels within the Company with specific oversight and reviewed by the Board led CSR, Safety and Sustainability Committee. It reviews and monitors business risks and opportunities with reference to sustainability, and also oversees the progress of business sustainability and aspects related to occupational health and safety (OHS), climate change, resource conservation, employee engagement and development, sustainable supply chain management, and human rights (privacy and freedom of expression, etc.). Besides, the MD & CEO chairs the Sustainable Development Committee (SDC) which meets on a quarterly basis along with other committees like Sub-Committee of SDC and Management Review Committees. Each of these committees have fair representation from cross functional representatives, workers/employee participation etc.
The company’s leadership team (MD & CEO, GMC, CHRO) played a crucial and significant role in driving and embedding sustainability initiatives within the organisation. Demonstrating their dedication to sustainability, senior leaders lead by example in various ways.
The Board led CSR, Safety & Sustainability (CSRSS) Committee approved initiatives pertaining to sustainability, resource efficiency and increase in RE, showcasing their commitment to drive a collective effort towards a more sustainable future.
The following projects were undertaken by the CSRSS Committee:
Reviewed and approved the renewable energy procurement business case for 11.4 MU solar power requirement for Indian facilities (Pune and Chennai).
Reviewed and approved the long term goals pertaining to Net Zero, Customer Savings and Circularity
Reviewed and approved the CSR projects and budgets
Reviewed and approved the revised CSR strategy to integrate ‘environmental sustainability’ as a new and priority area.
Reviewed the Business Human Rights policy and its alignment with Tata Group Business & Human Rights guidelines and other international frameworks.
The MD & CEO, via the Sustainable Development Committee actively engages on the subject and have taken multilateral decisions involving GMC, to embed sustainability within the Company’s culture.
Approved the Company’s sustainability strategy corresponding to three key pillars of People, Planet and Community, around robust Corporate Governance.
Incorporated sustainability KPIs and goals like Net Zero, Energy Efficiency, Increase in Renewable Energy etc. into the organisation’s strategic vision and SPP, ensuring the integration of sustainability goals with the Company’s Corporate Scorecard.
Approval of Sustainable Development Report
Led and participated in various ESG/Sustainability initiatives like Tata Sustainability Month, DRIVE week, Safety Carnival, Ethics Week etc.
Formulation, review and alignment of Long & Short Sustainability Goals.
Communication of the importance of sustainability and ESG goals in discussions and townhall meetings
Approval of short-term Sustainability Goals.
Under our Sustainability Sub-Committee, the GMC and CHRO initiated sustainable practices including carbon footprint reduction, responsible decision-making, and renewable energy promotion. They review Sustainability KPIs, invest in sustainable initiatives, and foster a sustainability culture through employee education and recycling programmes.
In line with the Company’s sustainability strategy, the Board in January 2023 approved the long-term Sustainability Goals pertaining to Climate Change, Circular Economy and customer savings which are being formulated on the basis of Tata Group’s Sustainability Goals, UN Sustainable Development Goals, our company’s materiality assessment and peer’s review.
Additionally, we have also identified short term targets from FY 24 to FY 26, which not only supports the identified long-term goals but encompass our goals and objectives related to other key ESG aspects.
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| Climate Change |
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| Water |
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| Water |
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| Corporate Governance |
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| Data Privacy & Information Management |
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| Diversity |
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| L&D, Capacity Building |
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| Occupational Health and Safety |
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| Supply Chain |
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| Community |
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