Page 11 - Tata_Chemicals_yearly-reports-2017-18

Identifying material issues
Materiality matrix
We engaged investors, shareholders,
TCL believes that an issue is material if media, government, employees (Indian
it impacts the ability of the business to and international), suppliers, customers,
create and sustain value over the short, and the community in the process.
medium and long term. We consider Interactions included one-on-one
the e ect on our strategy, governance, meetings, tele-calls, video conferencing,
performance, growth, costs, risks, detailed interviews of top management, Integrated Report
opportunities, and importance for our and external stakeholder surveys.
stakeholders. We check whether the
issues are aligned with our vision, brand Mapping materiality issues
portfolio, and geographical footprint. Insights achieved from those regular
engagements with our stakeholders
Following the identi cation and mapping helped us map the material issues against
of issues previously, we have extended internal business priorities. The business
the materiality assessment process during goals and challenges were then reviewed
the year to identify priorities across the to nalise the materiality matrix. We have
value chain. internally reviewed the materiality by each
business to check its relevance.
We decided to revisit the material aspects
periodically and same was done this year. Statutory Reports
We track and measure the focus area
parameters that are relevant and conduct
materiality assessment process to arrive at
material matters that impact the business
today and in future.
We recognise that each of our businesses
engage with and impact a unique set
of stakeholders. We have addressed the
interests of stakeholders under each of the
business spreads being Chemicals (p22),
Consumer Products Business (p16) and
Nutritional solutions (p28). Financial Statements
Addressing materiality issues
A crucial step in this materiality process
is e ectively resolving issues via strategic
and accountable responses. The positive
outcomes of such resolutions are
propelling us towards de nitive growth.
While we address material issues, we will
closely monitor the progress made during
the ongoing nancial year and report
internally to evaluate progress against our
our long-term commitments.
Materiality 9