Management approach

Various committees of board of directors effectively supervise the financial reporting, risk management, short-term and long-term business planning and sustainability. Our integrated financial accounting system has in-built controls with both internal and external audit, which ensures reliable and effective financial reporting. Our audit mechanism periodically reviews control and compliance of legal and regulatory requirements. The Management of Business Ethics (MBE) process ensures raising of concerns by all stakeholders to control frauds and negligence. We run and sponsor capacity, capability and skill building programs for communities around our areas of manufacturing facilities so that they improve their livelihood options and improve quality of life.

At Tata Chemicals, Safety, Health & Environment (SHE) are driven by SHE policies that are both at the Corporate & site level. The approaches are driven by our commitment to guidelines of Responsible Care, World Safety Declaration and various global & national industry forums. We have adopted some world-class practices such as ‘DuPont Safety Way’ and the British Safety Council Five Star Audit for Safety & Environment Sustainability. All our sites are ISO 14001 (Environment Management Systems) & OHSAS 18001 (Occupational Health & Safety Management) certified, while some of the sites are going through ISRS rating on safety.

We consider employees as key stakeholders. We believe employees are our strength and we will create an environment that fosters achievement, learning and team work. Training plays a vital role in enhancing the efficiency, productivity and performance of our employees. The Management Development Programme, Supervisory Development Program, Operators Certification Program, Employee Growth Scheme and Achievement Orientation are some of the initiatives deployed across the organisation that provide customised training to achieve higher skills and build capacity for future leadership and succession planning.

We have an open work environment with clearly articulated policies for ensuring transparency and non-discrimination. Systems ensuring equal opportunity and capturing concerns are in place, which have a direct line of sight at the group level through the Tata Code of Conduct. A Prevention of Sexual Harassment in the workplace policy, along with a redressal mechanism that is chaired by a woman employee, is also in place to ensure a safe work environment and gender equity. We have adopted the policies of SA 8000. We support ‘fundamental human rights’ in all our operational activities and comply with the law of the land.

Tata Chemicals has always stood by the community around. Aligned with the goals and vision of the management, our social initiatives’ programmes are guided by a ‘Community Development Policy’. We share our resources with the neighbouring communities, providing them subsidised medical & health care, building infrastructure such as roads, schools, health care centres and cattle sheds to name a few. We have established the Tata Chemicals Society for Rural Development (TCSRD) for implementing Community Development interventions.

We have adopted the ‘Responsible Care’ principles and have integrated them into our processes. The Product Stewardship Code under Responsible Care drives our effort to minimise health safety and environmental impact of our products across the supply chain. Furthermore, our Innovation Center is focused on developing greener and safer products and alternatives. We adhere to all Indian laws related to marketing communications, including advertising, promotion, and sponsorship.