Page 27 - Tata_Chemicals_yearly-reports-2018-19

Integrated Annual Report 2018-19

Addressing Material Issues

Material matters are the issues with the capability to substantially impact our
business outcomes and competitiveness. These issues affect our ability to create
value in the short, medium or long term, if not addressed strategically. Integrated Report

Materiality process at Tata Chemicals

Identifying critical and
Identifying Evaluating present status Mapping ambitions key action areas based
material issues of material issues against materiality issues
on gaps to be covered

Materiality matrix Identifying and mapping material issues

At Tata Chemicals, we identify material issues by engaging
Safety and health with multiple stakeholders – investors, shareholders,
Energy
Climate change Employee media, government, global employees, suppliers,
engagement contractors, customers and the community. These
Importance to Tata Chemicals Customer Product stewardship Employee external stakeholder surveys across geographies. Statutory Reports
Ethics
engagements are conducted through meetings, tele and
Water
video conferencing, interviews of top management and
Community
engagement
Waste
Performance standards
We review whether these issues are aligned with our
for contractors/suppliers
vision, brand portfolio and geographical footprint and
benefits
Biodiversity
Diversity
business priorities. We then review the business goals and
challenges to finalise the materiality matrix. This exercise is
Logistics map them against key stakeholder priorities and internal
Spills carried out every alternate year. We work on all the issues
Low to high highlighted in the materiality matrix and focus additionally
Low to high Importance to stakeholders on the issues in the top 4 quadrant.

Addressing materiality Financial Statements
We have taken a strategic call to revisit these material aspects on a periodical basis to track their current status. Our long-term strategy
roadmaps are developed keeping these aspects. These initiatives, while accelerating our business growth, are also strengthening our
fundamentals and our value creation ability.

25