Stakeholder engagement and materiality

IDENTIFYING PRIORITIES THROUGH ENGAGEMENT

We conducted an extensive materiality assessment, engaging with a cross-section of stakeholders to identify issues that are of mutual concern and importance. These material issues have the potential to directly or indirectly, positively or negatively impact our ability to create value for our stakeholders and society at large.

During FY 21-22, we carried out a consultative materiality assessment study in line with the Global Reporting Initiative (GRI) guidelines and the Integrated Reporting framework. The process also included detailed ideation sessions with crossfunctional teams on the concept of integrated thinking and elaboration on how the organisation creates lasting value for its stakeholders through a a holistic approach.

We interacted with our key internal and external stakeholders for the purpose of this assessment and they invested a significant amount of time in sharing their thoughts, a testament to the importance they place on the subject.

CONSUMERS

Meeting evolving consumer needs, delivering quality products and expanding our consumer base are key to our success and growth

Expectations
  • A mix of tasty and healthy products
  • Convenience
  • Responsible and inclusive marketing
  • Sustainability credentials
  • Value for money
Engagements in FY 21-22
  • Focused group discussion and interviews
  • Digital platforms
  • Market research
Mode of engagement
  • Consumer surveys

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.

Expectations
  • Health, safety and well-being
  • Growth through learning and development opportunities
  • Sense of belonging and purpose
  • Diversity and inclusion
Engagements in FY 21-22
  • Company-wide employee engagement survey
  • Developed informative and up-to-date employee communication channels
  • Arranged regular interactions with the C-suite
  • Town halls/Leadership webinars
  • One-on-one performance reviews
  • Various learning and development initiatives
Mode of engagement
  • Workshops, online video calls and surveys

COMMUNITIES

The true mark of a successful business is in its ability to create meaningful change in the communities under its influence. For us shared prosperity is paramount, and we make sustained efforts in creating resilient communities.

Expectations
  • Reducing operational footprint
  • Using natural resources responsibly
  • Generating opportunities for employment and skill development
  • Helping improve access to basics, including water, sanitation and hygiene
  • Extending sustainable agriculture and support for communities
Engagements in FY 21-22
  • Community investment programmes like Early Childhood Development Programme, Project Jalodari, among others
  • Collaborations and partnerships with Ethical Tea Partnership, trustea, Plastics Pact
  • Volunteering activities
  • Delivered services to meet the education, health, food and security needs of communities
Mode of engagement
  • Regular interaction with Tata Consumer CSR teams and impact assessments

GOVERNMENT AND REGULATORY BODIES

As a responsible corporate citizen, a symbiotic relationship with the government and non-profits can go a long way in bringing good change in the larger community

Expectations
  • Contributing to national, economic and development priorities
  • Promoting sustainability agenda, human rights, environmental impact mitigation
  • Demonstrating model corporate behaviour
Engagements in FY 21-22
  • Contributed to a resilient corporate system by promoting transparency and raising awareness on societal issues
Mode of engagement
  • Compliance, periodic reporting and surveys

INVESTORS
 

The support of our shareholders is crucial for continuous access to capital, ability to make progress on our strategies and reach our objectives.

Expectations
  • Ensuring robust business strategy and execution
  • Maintaining consistency in financial performance and returns
  • Ensuring sound corporate governance
  • Progressing on environmental and social commitments
Engagements in FY 21-22
  • Annual General Meeting
  • Investor relations programme with regular updates on business and financial performance
  • Institutional investor and analyst meetings
  • Annual Report and stock exchange announcements
  • Shareholder information on website
  • Timely response to shareholder queries
Mode of engagement
  • Periodic updates, investor meets, surveys

SUPPLY CHAIN PARTNERS

Maintaining our relationship with suppliers of raw materials and indirect services and logistic partners are key to uninterrupted operations and delivery to our discerning consumers.

Expectations
  • Developing mutually beneficial partnerships
  • Collaborating to realise efficiencies
  • Developing fair contract and payment terms
  • Undertaking joint risk assessment and mitigation
Engagements in FY 21-22
  • Supplier reviews, audits and dialogues
  • Quality checks and adherence to policies
  • Synergising the India supply chain
Mode of engagement
  • Interaction with team members

Materiality assessment process

We interacted with our key internal and external stakeholders for the purpose of this assessment through multiple modes of engagement and they invested a significant amount of time in sharing their thoughts, a testament to the importance they place on the subject.

Senior Management: 450 hours

External stakeholders: 390 hours

Employees: 1,090 hours

STEP 1

Identification of the 'universe of sustainability issues

  • Review of issues considered material within our industry by leading national and international standards entities (e.g., NVGs, SDGs, SASB, DJSI, MSCI, among others).
  • Consideration of the material topics prioritised by our peers
  • Integration of business and ESG strategies and experience from ongoing engagements with key stakeholder groups
STEP 2

Engagement with stakeholders

  • Interaction with identified representatives from key stakeholder groups
  • Engagement with a pan-India and International set of stakeholders
  • Multiple modes of engagement - surveys, video conferencing, and personal interactions
STEP 3

Analysis

  • Review the rating of universe of issues by internal and external stakeholders categorised as - 'very high', 'high' and 'medium' impact
  • Evaluation of issues through the lens of our business strategy - potential of the issue to impact strategy elements and long-term success of the business
STEP 4

Materiality mapping

  • Plotting the universe of sustainability issues on a graph, into a materiality matrix
  • Matrix plotted as per importance to stakeholders (V/S) importance to business

Materiality matrix

We identified certain key material issues that are extremely significant for our value creation journey

CAPITALS IMPACTED

Financial | Human | Intellectual | Social & Relationship | Natural | Manufactured

STAKEHOLDERS IMPACTED

Consumers | People | Communities | Government and Regulatory Bodies | Investors | Supply Chain Partners

Corporate governance (ethics, integrity and accountability)

Robust corporate governance that considers stakeholder concerns, builds trust, oversees business strategies, and ensures fiscal accountability, ethical corporate behaviour, and fairness to all stakeholders lie at the crux of achieving our long-term mission

STAKEHOLDERS IMPACTED
CAPITALS IMPACTED

Responsible marketing

Consumers expect meaningful and transparent information (e.g., calorific information) for aiding dietary choices. Providing the same is key to maintaining consumer trust

STAKEHOLDERS IMPACTED
CAPITALS IMPACTED

Consumers connect

Consumers increasingly want products that are:

  • Healthy, seasonal and nutritional
  • Good for the planet and ethically sourced
  • Social media friendly and with sensory appeal

We can grow our business in the long term by meeting these consumer needs and leveraging key consumer trends

STAKEHOLDERS IMPACTED
CAPITALS IMPACTED

Innovation and technology

Product innovation

We launched new products, across categories and markets, expanding our portfolio to satisfy a broader range of consumer needs.

Technology in operations

We are focused on automating and digitalising our operations to achieve higher operational efficiencies. Power of technology has also taken centre stage in marketing operations, where we are using data driven insights for product innovation and consumer connect.

STAKEHOLDERS IMPACTED
CAPITALS IMPACTED

Product stewardship (Quality, safety and lifecycle management)

Poor quality or contamination could result in safety issues, reputational damage, financial losses, and product recalls. Consumers are also increasingly curious about the impacts of various lifecycle stages of the products they consume, including packing material used and waste generated.

STAKEHOLDERS IMPACTED
CAPITALS IMPACTED

Employee wellness - Engagement and health and safety

Our people are both the creators and caretakers of our culture and values. Ensuring high employee engagement and filling key positions with the right talent remain critical to maintaining our competitive advantage.

Adherence to best practices on safety is important for the well-being of our employees and stakeholders.

STAKEHOLDERS IMPACTED
CAPITALS IMPACTED

Employee wellness - Engagement and health and safety

Our people are both the creators and caretakers of our culture and values. Ensuring high employee engagement and filling key positions with the right talent remain critical to maintaining our competitive advantage.

Adherence to best practices on safety is important for the well-being of our employees and stakeholders.

STAKEHOLDERS IMPACTED
CAPITALS IMPACTED

Equitability (Diversity and inclusion)

Diversity is the key to building a wellbalanced workforce, where individuals feel safe, included and respected. We are focused on increasing the number of women in our workforce and ensuring equal pay across genders.

STAKEHOLDERS IMPACTED
CAPITALS IMPACTED

Community engagement and welfare

Contributing positively to the communities is the ethos of every Tata group company. We support essential workers and vulnerable sections of society through focused interventions.

STAKEHOLDERS IMPACTED
CAPITALS IMPACTED

Training and education

We encourage learning and development by offering relevant training (online and offline) and making a wide variety of knowledge resources available.

STAKEHOLDERS IMPACTED
CAPITALS IMPACTED

Human rights in value chain

Safeguarding human rights in our value chain (payment of minimum wages, avoidance of forced and child labour, among others) are critical to the integrity of our value chain

STAKEHOLDERS IMPACTED
CAPITALS IMPACTED

Value chain management - dealers, retailers, suppliers, farmer connect

  • Managing all social risks prevalent in the value chain while also fostering longterm relationships is key to success
  • Combating counterfeit products has also emerged as a key concern
STAKEHOLDERS IMPACTED
CAPITALS IMPACTED

Circular economy

We are committed to efficient resource consumption and optimised packaging with zero compromise on product quality and safety. Combating challenges such as cost, market performance, consumer protection, as well as water and waste management, we ensure our packaging is fit-for-purpose and made from low-impact material, or material, which is reusable or recyclable at the end of its life.

STAKEHOLDERS IMPACTED
CAPITALS IMPACTED

Access to nutrition

Measures to develop products with better nutrition and educating customer to understand their own nutritional needs is important in our ambition to mitigate nutritional gaps among consumers.

STAKEHOLDERS IMPACTED
CAPITALS IMPACTED

Responsible sourcing

Sustainable agricultural practices facilitate better farm yields and productivity while also making our plantations and farming areas a safe and sustainable place for communities to work and thrive.

STAKEHOLDERS IMPACTED
CAPITALS IMPACTED

Driving Net Zero

We focus on increasing energy efficiency and amping up renewable energy in our energy mix. Integrating climate change risks in the organisation's strategy helps:

  • Better corporate reputation
  • Mitigate risks facing agricultural produces that we are dependent on
  • Better operational efficiency
  • Enhance cost savings
STAKEHOLDERS IMPACTED
CAPITALS IMPACTED

Preserving Nature and Biodiversity

Being mindful and making a positive difference to the land, flora, fauna and the environment around us is integral to our strategy and we strive to keep our ecological impact in check.

STAKEHOLDERS IMPACTED
CAPITALS IMPACTED