ESG governance
Operating sustainably
and responsibly
Our ESG strategy reflects our sustainability commitments and ambitions. It ensures we conduct our business responsibly and ethically, while focusing on stakeholder interests.
Our governance framework takes
into consideration the interests of all
stakeholder groups and is the foundation
for our corporate strategy, environmental
consciousness, ethical business practices
and interactions, and management of risk.
The Tata Code of Conduct is the cornerstone of our approach to governance. Learnings from international best practices are also incorporated in our governance philosophies, which are directed towards achieving the Company’s growth objectives and vision. Our governance framework takes into consideration the interests of all stakeholder groups and is the foundation for our corporate strategy, environmental consciousness, ethical business practices and interactions, and management of risk.
ESG governance at Tata Consumer is overseen by the Board’s CSR and Sustainability Committee, while a Steering Committee oversees the implementation of our sustainability strategy by way of CSR and sustainability initiatives across locations and business units. The Steering Committee is also responsible for identifying opportunities for new initiatives and risk management, while making necessary resources available for driving sustainability-related initiatives.
Our well-defined ESG governance structure determines the nature, scope and priorities of our sustainability agenda (based on the ESG strategy) for allocation of resources and funds, as well as measurement, reporting, and time frames for projects and initiatives.
The ESG governance structure also comprises working groups, each broadly aligning with a pillar of our sustainability strategy, such as the Human Rights Committee. The members of these groups are drawn from the Company’s different functions.
The composition and responsibilities of the different tiers of our ESG governance structure are shown in the table below.
| COMMITTEE | RESPONSIBILITES | MEMBERS + FUNCTIONS | PERIODICITY OF MEETINGS |
|---|---|---|---|
| CSR and Sustainability Committee | To establish a monitoring process to ensure that Company actions are aligned with stakeholders’ interests. | Non-Executive, Independent Directors | Bi-annual |
| Sustainability Steering Committee | Core committee that plans and monitors the execution of the sustainability strategy. | Executive Director and Group CFO, CHRO, COO, Head of Sustainability | Quarterly |
| Nutrition Committee | To monitor the nutritional impact of our products on the consumers. | Senior representatives from Marketing and R&D | Quarterly |
| Business and Human Rights Committee | Ensure adherence to Tata Guidelines on Business and Human Rights and Modern Slavery Statement to promote employee welfare. | Senior representatives from Sustainability, Legal and Compliance, Procurement, Operations/ Logistics, Sourcing, and Employee Engagement | Quarterly |
| Sustainable Operations Committee | Establishes Working Groups for sustainability projects and monitors their progress. | Senior representatives from Operations, HR, Environment, Health, and Safety (EHS) | Quarterly |
Tata Consumer’s Internal Audit and Risks team also plays an important part in our ESG agenda. This function oversees the Company’s risk management process, which comprehensively incorporates ESG risks into the organisational risk matrix. Suitable mitigation action is then identified, implemented and residual risk is brought down to an acceptable level and maintained with the help of continuous monitoring.