Tata Chemicals (TCL) continues to lay great emphasis on the highest standards of corporate governance.
The company believes that good corporate governance is essential to achieve long-term corporate goals and enhance stakeholders’ value. In this pursuit, the corporate governance philosophy is to ensure fairness, transparency and integrity of the management, in order to protect the interests of all its stakeholders. Strong leadership and effective corporate governance practices have been TCL’s hallmark, and have inherited these from the Tata culture and ethos. Along with a strong legacy of fair, transparent and ethical governance practices, TCL has adopted the ‘Tata Code of Conduct’ for its employees including the managing director, the executive director and non-executive directors.
Management of business ethics
TCL has adopted a whistle-blower policy to provide a formal mechanism for employees to report their concerns about unethical behaviour, actual or suspected fraud, or violation of the company’s Conduct or Ethics policy. The company’s philosophy for remuneration of directors, key managerial personnel and other employees is based on the commitment of fostering a culture of leadership and trust.
The Audit Committee and CSR, Safety and Sustainability Committee of the board specifically review and oversee the identification and management of economic, environmental and social performance including relevant risks and opportunities, adherence to, or compliance with, internationally agreed standards, codes of conduct and principles in every quarter.