At Tata Steel, we treat all our stakeholders as partners in longterm value creation.
We have a robust stakeholder engagement process to foster and nurture relationships, which helps improve our strategy development and decision making. We are working towards delivering on stakeholder needs, interests and expectations. In Financial Year 2018-19, we conducted a pan‑India stakeholder engagement exercise to revisit the ESG issues that are material to our value-creation process amid the evolving global sustainability landscape.
INVESTORS
Value proposition
Consistent returns on investments and innovation for a sustained business
CUSTOMERS
Strong brands, quality products, and engineering support
VENDOR PARTNERS
Building capabilities through skill development, growth opportunities, safe operations and adequate financing
Why they are important to us
Our investors provide the necessary financial capital, which is essential to fund business and strategic growth plans
Customers drive the markets and segments we operate in. Meeting customer expectations underpins the success of our business
Our partners give us the operational leverage to optimise the value chain, be cost competitive and exceed customer expectations
How we engage with them
Investor and analyst meets
General meetings
Annual Report and media updates on performance
Customer service meetings
Multi-stakeholder platforms
Vendor satisfaction survey
Vendor Capability Advancement Programme
Vendor Grievance Redressal Committee, Speak UP Toll-free number
Workshops and meets
Their key ESG concerns and issues
Focus on carbon emission, renewable and clean energy, air pollution
Technology, product and process innovation
Embed sustainability in supply chain
Focus on health, safety and human rights
Focus on carbon emission, water, air pollution, waste management, renewable and clean energy
Embed sustainability in supply chain and leverage circular economy
Focus on health, safety, human rights
Focus on key environmental issues such as carbon emission, water, energy
Leverage circular economy
Embed sustainability in supply chain
EMPLOYEES
Fair wages, good relations and employee well-being
COMMUNITY
Enabling significant and lasting betterment in the well-being of communities proximate to our operating locations
GOVERNMENT AND REGULATORY BODIES
Advocacy towards shaping policies for the future
MEDIA AND INDUSTRY BODIES
Sharing industry best practices and benchmarks
Our employees are key to the success of our business. Their efforts are instrumental in delivering our strategies and for the sustained growth of our business
Thriving and engaged communities in our areas of operations are vital to our business. Our social license to operate hinges on our ability to create value for our community
We are in a highly regulated industry. We strive to maintain our compliance standards above regulatory requirements. We co-develop and comply with legislations and policies applicable to our business to ensure continuity
Media is an important platform to reach out to society and communicate about our brand Industry bodies are important fora to engage with regulatory bodies and discuss matters of mutual interest
Monthly online meet with the CEO & MD and informal meets with the senior leadership
Employee engagement survey
Employee happiness study
Joint forums between employee unions and management
Internal communications
Public hearings
Meetings with community leaders and the CSR Advisory Council
Community welfare programmes
Representations at relevant ministries and regulatory authorities at the central and state levels
Press conferences, media events
Regional and national events such as conclaves and conferences of industry bodies
Senior leadership are part of various industry bodies and committees
Talent retention
Local sourcing of labour
Welfare practices for non-officers
Better healthcare facilities
Water scarcity in the community areas
Livelihood generation and skill development
Carbon emission, energy efficiency and waste management
More focus on education in community development
Setting trends for future regulations and going beyond compliance
More frequent and transparent disclosures on sustainability issues such as water, health and safety, energy efficiency measures
More participation in events and engagement with media