Stakeholder engagement and materiality
Stakeholders in focus and topics of priority
CONSUMERS
Meeting evolving consumer needs, delivering quality products and expanding our consumer base are key to our success and growth.
PEOPLE
Our people, their ideas and their passion form the collective force driving our Company’s forward trajectory. Their dedicated approach and winning mindset bring our ambitions to life.
COMMUNITIES
Well engaged communities who become partners in the growth story is integral to a business’s success. For us shared prosperity is paramount, and we make sustained efforts in creating resilient communities.
GOVERNMENT AND REGULATORY AUTHORITIES
As a responsible corporate citizen, a symbiotic relationship with the government can go a long way in bringing good change in the larger community.
INVESTORS
The support of our shareholders act as an enabler to continuous access to capital, ability to make progress on our strategies and reach our objectives.
VALUE CHAIN PARTNERS
Maintaining our relationships with suppliers of raw materials and indirect services and logistic partners is key to uninterrupted operations and delivery to our discerning consumers.
ENVIRONMENT AND ECOSYSTEM
Being mindful of our surroundings and the environment, we always strive to minimise the impact of our business on natural resources and practice responsible resource management
Materiality assessment and stakeholder discussions
Materiality assessment plays an important role in shaping an organisation’s sustainability priorities. A detailed materiality assessment study was conducted by us in FY 21-22, drawing guidance from national and international standards, including the Sustainability Accounting Standards Board (SASB), leading Environment, Social, Governance (ESG) assessment platforms and National Guidelines on Responsible Business Conduct (NGRBC – on which the BRSR is based).
At Tata Consumer, creating sustainable value for all our stakeholders is a priority; to this end, we have ensured that views of varied stakeholder groups are taken on-board while we determine issues that are material to us. A host of ESG issues (i.e. ‘universe of issues’), their potential impacts, risks and opportunities for Tata Consumer’s business, and stakeholder views on the importance of each such issue were considered for arriving at our materiality matrix presented below.
MATERIALITY MATRIX
As our businesses continue to grow, we envisage that our ESG priorities may change with change in operations. We periodically review our ESG focus areas and initiatives to accommodate for any such change.
For more details on how we engage with our stakeholders, read more on page 94, 102, 110 & 118