Page 19 - Tata_Chemicals_yearly-reports-2020-2021

Integrated Report Statutory Reports Financial Statements
Integrated Annual Report 2020-21 Material Issues Impacting Value 60-146 147-300
Creation

Material Issues Impacting Value Creation Material topics

Highly Critical Areas Medium Critical Areas Low Critical Areas
We analyse various environmental, social and governance issues impacting our businesses, value creation M1 Circular Economy (water & waste) M6 Customer Engagement M10 Spills M14 Logistics
and stakeholders. These help us define strategic priorities, mitigate actions and better understand our M2 Biodiversity M7 Community Engagement M11 Diversity M15 Employee Benefits
effect on the environment and the stakeholders’ impact on our value-creation. M3 Climate Change M8 Product Stewardship M12 Ethics and Governance
M4 Health & Safety M9 Performance Standards for M13 Employee Engagement
Materiality analysis M5 Energy Contractors / Suppliers
We conduct a thorough analysis of the external and internal In FY 2020-21, we conducted product value chain analysis for TCL
environment through a quadrennial materiality exercise involving India and Rallis operations in a phase-wise manner which includes
all internal and external stakeholders. The position of material issues extraction, inbound logistics, production, outbound logistics and Importance of material issues in business context and how we address them
are updated in the materiality matrix basis these findings along with customer. Each part of this value chain was assessed on multiple Highly Critical Material Aspects
continuous status analysis by the Management Review Committee parameters with the relevant team members. Based on this,
(MRC). A structured roadmap and increased engagement with criticality screening was conducted to understand the degree Material aspects and its context Impact on our value creation Mitigating actions
respective stakeholders helps address critical aspects. (high, medium, low) of economic, environment, social impact and
identify actionables to strengthen the value chain. M1 Inefficient production Emphasis on continuously enhancing
processes can increase recycling of water and waste
our costs and carbon materials
Identifying Circular economy
Identifying evaluating Mapping footprint, diminishing our Soda Ash transported in bulker to
material issues current status ambitions critical and key A valuable economical competitive advantages reduce plastic packaging
action areas model to maximise
natural materials usage Using plastic waste as fuel in Cement
Study of internal and Engaging with internal Prioritising actionable Prioritising the key areas by recycling them Kiln
external factors cross function team themes for now and into short, medium and during the value chain Watershed management and
Product value chain Evaluating the long-term for 2030 long-term needs as per processes rainwater harvesting
and SWOT (all group strategy plan for SBTi Revamping the internal and external
companies) analysis Progressing to net Zero strategy to align with stakeholders’ relevance
Carbon emission all geographies M2 Biodiversity loss may Biodiversity policy launched
lead to irregular water in June 2020 to strengthen
Approach to finalise material matters Low Critical Areas Medium Critical Areas Highly Critical Areas Biodiversity supply, food availability, commitment and link it across the
Biodiversity reduced natural resources, value chain
Internal Strategy workshop and ecosystem temperature rise, etc. which Biodiversity Conservation and
Team calls / meetings M1 preservation directly may impact business Restoration programmes
contribute to primary operations and life on earth
to analyse progress of development and
material issues M3 community well-being
M5 M4
External Relevance

Discussion M2 M3 Climate change can directly Committed SBTi to reduce absolute
Prioritising M11 M12 M9 M6 Climate Change and indirectly impact the carbon emission and progress to Net
operations across the value
Zero Carbon emission
by Leadership team M10 M7 Rising focus on chain right from operational Completed climate adaptation study
M13 climate change and efficiencies to logistics for Mithapur
M8 Nationally Determined TCE (UK) to commission carbon
Targets and a shift capture plant to become a net
Global trends from disaster recovery zero carbon Sodium Bicarbonate
Local environment M14 to climate resilience manufacturer
Sector M15
Social
Analysis
Internal Relevance

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