Page 37 - Tata_Chemicals_yearly-reports-2021-22

01 INTEGRATED 73 STATUTORY 178 FINANCIAL
Integrated Annual Report 2021-22 REPORT REPORTS STATEMENTS
Risk Management

Operational risks Regulatory and Policy risks

5. Supply chain Mitigation plans Enter into Annual COA (Contract of 8. Regulatory & Mitigation plans take industry voice (thereby
constraints risk Shift the import material flow at Affreightment) for predictable and Policy risk Monitoring of compliances through an Company's voice) to the Ministries who
Mithapur to bigger vessels i.e. Panamax / steady requirements viz. Limestone e-enabled compliance management finally issue regulations/notifications
Higher freight costs and longer Cape vessels for thermal coal in order to from UAE Policy changes which could impact the framework which is used in periodic Providing inputs in policy formulation
delivery cycles Company’s operations at large
optimise freight cost and to reduce the Maintain adequate inventory levels to reporting and reviews at leadership and devising the policies beneficial
number of vessels required forums. Senior leaders’ active for the industry and the country at
Linkage to Capital avoid supply chain disruptions Linkage to Capital
participation in various committees large, understanding upcoming
Manufactured capital Social and Relationship capital, and sub committees formed by various policy changes with an endeavour
Manufactured capital, Intellectual capital bodies to ensure adequate early to mitigate emerging risks
and Natural capital knowledge and policy advocacy
Keeping a track of the draft
Ongoing dialogue, liaison meetings notifications, proposals both
Opportunities arising from risks and conversations with regulatory from the government and/or
Long Term Contract of Affreightment. authorities and attendance at seminars, industry recommendations as well
memberships with Government and as risks that may arise by way of a
Industry Bodies, specifically those that structured process

Reputational risks
6. Talent risk Mitigation plans Provide avenues for growth through
Create and execute the career internal job postings 9. Safety risk Mitigation plans Hazards identified using techniques
Upskilling/reskilling of employees to development plan (CDP) backed Create a talent pipeline by identifying Safety risk mitigation plans are regularly such as Job Safety Analysis (JSA),
contain attrition of talent with individual development plans emerging talent for potential reviewed by the Risk Management Hazard and Operability Study
for a select set of population in the leadership roles in future backed with Failure to ensure containment of safety (HAZOP), Hazard Identification and
Linkage to Capital organisation an individual developmental plan hazards (Behaviour, Workplace, Process Committee of the Board Risk Analysis (HIRA), What-if-Analysis,
Human capital Enrich the job through job rotations, and Product) including containment of Achieve Zero Harm by following Failure Mode Effect Analysis, etc. and
world-class standards of SHE
exposure and participation in CFTs infectious diseases/impact of COVID-19 Management systems, responsible addressed by following hierarchy of
risk control. E-enabled portal ‘MDO’ is
care initiatives, good maintenance
Linkage to Capital implemented across the operations
practices, enhancement strategies for
Human capital the environment and prevention of to capture near-misses and unsafe
Opportunities arising from risks pollution conditions
This gives an opportunity to develop the On-site and Off-site emergency plans Migrated to ISO tankers with the GPS
future-ready skills/competencies in the are in place in case of failure to localise system for transporting bromine
and chlorine; for product safety and
organisation. containment of hazards
transportation of hazardous chemicals
Table top Drill exercise for Emergency Provision of safety kits and awareness
Preparedness sessions for farmers through the "You
Financial risks Member of Nicer globe initiative for are Safe" initiative focussed on the safe
addressing transportation-related use of the products
7. Debt & Unfunded Mitigation plans Unfunded Pension Liabilities hazards In relation to COVID-19 situation,
Pension risk Managing Debt The defined benefit pension schemes Various Safety improvement initiatives various actions including following are
Regular review of the Company's debt are closed to new hires in the US covering Behavioural Safety, Structural undertaken to ensure safe operations:
Managing debt & unfunded pension profile and pension schemes are closed for Safety, Long term Asset Management Vaccination camps at site and
liabilities of overseas subsidiaries further accruals in the UK beyond Plan (LAMP), Mine Safety and Process ensuring 100% coverage of
Re-alignment of the quantum, defined period Safety & Risk Management (PSRM), workforce for the same
Linkage to Capital repayment, prepayment and need for management of hazardous chemicals,
Financial Capital refinance, in line with overall long term workplace environment improvement, Relevant SOPs with do’s and don’ts
ensuring safety of employees and
business plans / strategy of the Company preventive maintenance and aspects are
continuously evaluated for effectiveness continuity of operations in place,
Maximise free cash flows to repay debt dedicated 24/7 helpline number to
address medical-related queries

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