Page 91 - Tata Chemical Annual Report_2022-2023

Integrated Annual Report 2022-23 01-83 84-192 193-365
Integrated Report Statutory Reports Financial Statements
Business Responsibility &
Sustainability Report

24. Overview of the entity’s material responsible business conduct issues Section B: Management and Process Disclosures
Please indicate material responsible business conduct and sustainability issues pertaining to environmental and social This section is aimed at helping businesses demonstrate the structures, policies and processes put in place towards adopting the
matters that present a risk or an opportunity to your business, rationale for identifying the same, approach to adapt or NGRBC Principles and Core Elements.
mitigate the risk along with its financial implications, as per the following format:
The National Guidelines on Responsible Business Conduct (NGRBC) released by the Ministry of Corporate Affairs has updated and
S. No. Material issue identified Indicate whether risk Rationale for identifying In case of risk, approach Financial implications adopted nine areas of Business Responsibility. These are briefly as under:
or opportunity (R/O) the risk / opportunity to adapt or mitigate of the risk or
opportunity (Indicate P1 Businesses should conduct and govern themselves with integrity and in a manner that is ethical, transparent and accountable
positive or negative P2 Businesses should provide goods and services in a manner that is sustainable and safe
implications)
P3 Businesses should respect and promote the well-being of all employees, including those in their value chains
1 Health & Safety Risk In chemical industry, Health & Safety Negative P4 Businesses should respect the interests of and be responsive to all its stakeholders
Health & Safety can Management Plan,
directly impact people Process Safety & Risk P5 Businesses should respect and promote human rights
and community and Management, Emergency P6 Businesses should respect and make efforts to protect and restore the environment
disrupt the operations Mitigation System etc. P7 Businesses, when engaging in influencing public and regulatory policy, should do so in a manner that is responsible and transparent
2 Business Ethics Risk This may impact Tata Code of Conduct, Negative P8 Businesses should promote inclusive growth and equitable development
the brand and trust Monitoring Mechanism P9 Businesses should engage with and provide value to their consumers in a responsible manner
of stakeholders to ensure Ethical Conduct
3 Employee Development Opportunity This may Learning and Positive Disclosure Questions P1 P2 P3 P4 P5 P6 P7 P8 P9
improve employee development Policy and Management processes
competence, skills and opportunities for various 1(a) Whether your entity’s policy/policies cover each Yes Yes Yes Yes Yes Yes Yes Yes Yes
knowledge which is key level of employees principle and its core elements of the NGRBCs. (Yes/No)
for organisational growth
(b) Has the policy been approved by the Board? (Yes/No) Yes Yes Yes Yes Yes Yes Yes Yes Yes
4 Regulatory Issues and Compliance Risk Non-compliance may Adherence to compliance Negative (c) Web Link of the Policies, if available http://sustainability.tatachemicals.com/vision.htm
impact the brand image monitoring system https://www.tatachemicals.com/
and customer trust 2. Whether the entity has translated the policy into Yes Yes Yes Yes Yes Yes Yes Yes Yes
and engagement
procedures. (Yes / No)
5 Energy Efficiency Opportunity This may minimise the Energy saving Positive 3. Do the enlisted policies extend to your value chain Yes Yes Yes Yes Yes Yes Yes Yes Yes
greenhouse gas (GHG) assessments, key partners? (Yes/No)
emissions, improve initiatives to optimise 4. Name of the national and international codes/ (1,3) (2,4) (1,3) (1,3) (6,7) (4) (8) (1,3) (2)
resource efficiency, energy efficiency. Focus
cost saving, cleaner on renewable source of certifications/labels/standards (e.g. Forest Stewardship
environment etc. energy etc. Council, Fairtrade, Rainforest Alliance, Trustea)
6 Water Stewardship Opportunity This may help in Focus on minimising Positive standards (e.g. SA 8000, OHSAS, ISO, BIS) adopted by
sustainable water consumptions, effluent your entity and mapped to each principle. #
balance, improve generation and reuse of 5. Specific commitments, goals and targets set by the Yes Yes Yes Yes Yes Yes Yes Yes Yes
availability of water, treated effluent. Water entity with defined timelines, if any.
becoming water neutral harvesting projects inside 6. Performance of the entity against the specific Performance of each of the principles is reviewed periodically by
/ positive / outside the premises
commitments, goals and targets along with reasons various Committees led by the Management and Board of Directors
7 Reducing Carbon Footprint Opportunity Mitigates the effects of Focus on renewable Positive in case the same are not met.
global climate change, sources of energy, energy
improves energy efficient equipment, # UN Global Compact Act (1), Responsible Care (2), GRI (3), ISO 14001 (4), ISO 45001 (5), SA8000 (6), UN Guiding principles on Business and Human Rights (7),
efficiency, improves Carbon Capture, etc. Tata Code of Conduct conforms to NVG (8)
climate change impacts
Governance, leadership and oversight
For more details, please refer page no. 44 of the Integrated Report 2022-23.
7. Statement by Director responsible for the business responsibility report, highlighting ESG related challenges, targets and
achievements (listed entity has flexibility regarding the placement of this disclosure)

The Company is committed to integrating environmental, social and governance (ESG) principles into its businesses which
is central to improving the quality of life of the communities it serves. It adheres to the principles of product stewardship by
enhancing health, safety and environmental impacts of products and services across their lifecycles. The environmental impacts
cover Climate, Resources (Energy & Water), Waste Management and Nature & Biodiversity. The Company has committed to reduce
its carbon emission (scope 1 & 2) as per the Science Based Target Initiatives (‘SBTi’) guidelines. The Company has established
policies for Climate Change, Safety, Health & Environment (‘SHE’) and Biodiversity.
The Company is committed to conducting beneficial and fair business practices to the labour, human capital and to the
community. It provides employees and business associates with working conditions that are clean, safe, healthy and fair.

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