STAKEHOLDER ENGAGEMENT

Working closely with partners for progress

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

Conferences
Construction conclaves
Zonal and similar meets

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