Page 138 - Tata_Chemicals_yearly-reports-2019-20

8. Safety, Health, Environment and Sustainability Composition and Attendance
Committee
No. of
The Safety, Health, Environment and Sustainability Name of the Member Category Meetings
(‘SHES’) Committee of the Company was constituted on attended
August 8, 2019 upon splitting of CSR, Safety and Ms. Vibha Paul Rishi (Chairperson) ID 2
Sustainability Committee. The SHES Committee is entrusted Mr. S. Padmanabhan NED 2
with the specific responsibility of reviewing and monitoring Mr. R. Mukundan MD & CEO 2
the health, environment and safety framework and Mr. Zarir Langrana ED 2
sustainable development. The overall roadmap as well as ID - Independent Director; NED - Non-Executive Director; MD & CEO -
specific issues of concern including those related to safety Managing Director & Chief Executive Officer; ED - Executive Director
and climate change is reviewed in detail.
9. Risk Management Committee
Terms of Reference
Regulation 21 of the Listing Regulations mandates top
The terms of reference of the SHES Committee, inter alia, are 500 listed entities based on market capitalisation as at the
as under:
end of the immediate previous financial year to constitute
• Provide guidance to the management to ensure that a Risk Management Committee (‘RMC’) with effect from
all long-term strategic proposals made to the Board April 1, 2019. The Company had constituted a RMC of the
include safety, health, environment and sustainability Board in February 2015.
implications;
The primary role of the RMC is that of assisting the Board of
• Review and monitor the sustainability, environmental, Directors in overseeing the Company’s risk management
safety and health policies and activities across the Tata processes and controls. RMC, through the Enterprise Risk
Chemicals Group on behalf of the Board to ensure that Management in the Company, seeks to minimise adverse
the Group is in compliance with appropriate laws and impact on the business objectives and enhance stakeholder
legislation; value. The Board has adopted a charter for the functioning
of the RMC covering the composition, meetings, quorum,
• Encourage, assist, support and counsel management in responsibilities, etc.
developing short and long term policies and standards
to ensure that the principles set out in the sustainability, Terms of Reference
safety, health and environmental, health and safety The terms of reference of the RMC, inter alia, are as under:
policies are being adhered to and achieved;
• Review the Company’s risk governance structure,
• Review and recommend to the Board the annual budget risk assessment and risk management practices and
for the SHES Audit plans and related improvement guidelines, policies and procedures for risk assessment
plans and report regularly to the Board on Committee and risk management;
findings, recommendations, and any other matters the
Committee deems appropriate; • Review and approve the Enterprise Risk Management
(ERM) framework;
• Investigate or cause to be investigated, any
extraordinary negative sustainability, environment, • Review the Company’s risk appetite and strategy
relating to key risks, including market risk, cyber
health and safety performance or issues of asset
integrity which can impact safety, health, environment security risk, product risk and reputational risk, as well
and sustainability where appropriate. as the guidelines, policies and processes for monitoring
and mitigating such risks;
Meetings Held • Oversee Company’s process and policies for
During FY 2019-20, two (2) Meetings were held on the determining risk tolerance and review management’s
following dates : measurement and comparison of overall risk tolerance
• October 7, 2019 • February 24, 2020 to established levels;
The necessary quorum was present for all the Meetings of • Review and analyse risk exposure related to specific
the Committee. issues and provide oversight of risk across organisation;

136 I INTEGRATED ANNuAL REPORT 2019-20