By Sunil D’Souza
Tata Consumer Products has released its ESG report, which highlights ESG approach, strategy, and disclosure on the basis of the BRSR template and guidelines. Company’s MD & CEO – Sunil D’Souza has brilliantly outlined the company’s latest ESG commitments in his message at the start of this report. Here we are especially sharing his message with our readers. – Editor
Sustainability is becoming one of the key deciding factors during a consumer’s buying journey and this trend is shaping how the FMCG industry evolves.
As part of the Tata Group, the ethos of responsibility and sustainability are interwoven in our corporate and work philosophy here at Tata Consumer Products. We are driven by our vision to build better lives and thriving communities.
In our goal towards building a sustainable future, our sustainability strategy is centered around ‘Better Living’, which encompasses the four pillars of ‘For Better’ —Nutrition, Sourcing, Communities and Planet. We are committed to responsibly growing our business, as we continue to respect the environment and strengthen our sustainability efforts.
Sustainability strategy
Our sustainability strategy comprises the Company’s initiatives toward sustainable sourcing, natural resource management, circular economy, and community development.
This is our first and voluntary attempt to bring out the Business Responsibility and Sustainability Report (BRSR) and we see this as an opportunity to enhance and strengthen our ESG disclosure.
Communicating ESG journey
Through this report, we intend to communicate our ESG journey, progress updates on our projects, and key learnings with all our stakeholders.
ESG Strategy and key commitments
Through this report, we also present to you our ESG Strategy and key commitments which will guide our initiatives and actions for the coming years. Sustainability is becoming one of the key deciding factors during a consumer’s buying journey and this trend is shaping how the FMCG industry evolves.
ESG Agenda
At Tata Consumer, ESG is ingrained in the way we think and operate and is a core part of our culture. Our ESG agenda has evolved to become sharper and more integrated, as we set out to achieve our ambition of becoming a leading FMCG Company.
Governance standards
Good Governance forms the cornerstone of our business, and our Governance standards are best in class in the industry. This guides the Company’s strategy towards the way we do business, and we are constantly improving our policies and practices where needed.
We are committed to defining, following and practicing the highest level of corporate governance across all our business functions. We will also continue to further strengthen data privacy and information security standards across our global operations.
Corporate Governance
At the core of our corporate governance practice is the Board of the Company, which oversees how the management serves and protects the long-term interests of all our stakeholders. More than the majority of the Board, five out of 9, are independent members. As active and well-informed members of the Board, they are fully committed to ensuring the highest standards of corporate governance.
Sustainability Governance
In addition, the Audit Committee, Corporate Social Responsibility (CSR) & Sustainability Committee, and the Risk Management Committee are fully comprised of Independent Directors while two-thirds of the Nomination & Remuneration Committee is made up of Independent directors, thus bringing their valuable perspective to the functioning of the Board and Board Committees.
Crafted value creation
Sustainability is an important parameter for stakeholders when they evaluate the Company and its prospects. We have a thoughtfully crafted value creation model to create enduring value for all our stakeholders. Our prudent and responsible choices have transformed into tangible and intangible outcomes over the short, medium, and long term.
‘For Better’ philosophy
Our range of products harmonizes with our ‘For Better’ philosophy. We are strengthening the ‘better-for-you portfolio, to give our consumers access to great-tasting products that enhance health and nutrition.
Special care in responsible sourcing
As a consumer-centric company, we are also continually striving to understand and address the needs of the conscious consumer, who is interested in knowing where the products they consume are sourced from. We take special care in responsible sourcing of our tea and coffee products in collaboration with partners such as trustea and Rainforest Alliance.
Awareness of climate change
Consumers are also increasingly becoming aware of climate change, and its impact on the environment. TCP is doing its part in mitigating climate change.
Reducing GHG emissions
We are reducing our environmental footprint and we have ensured that 24% of the current energy needs for the India supply chain now get fulfilled from renewables. Our Himalayan Water factories are powered with solar energy and equipped with a biomass boiler for reducing GHG emissions.
Safety Management System
We have extended our good practices to our supply chain partners as well, such as support with Environment and Safety Management System certifications, renewable energy installation guidance and support, ensuring adherence to the Tata Code of Conduct and its principles among others.
Responsible resourcing
We aim to reduce the use of natural resources and create a positive impact through responsible resource management. We are also placing emphasis on the circular economy of packaging.
Zero waste to landfill
Tata Consumer is one of the founding members of the India Plastics Pact and is also a member of the UK Plastics Pact. All our beverages’ factories worldwide are zero waste to landfill, with waste being disposed of through authorized vendors, who recycle or re-purpose the same.
integrating sustainability in operations
Apart from integrating sustainability in our operations, we also aim to create a culture that encourages employees to contribute to the community around them.
Various volunteering programmes
Our employees across the globe have been contributing their time and efforts to serve the community through various volunteering programmes. Our CSR programmes are designed for the betterment of communities with a focus on critical areas spanning healthcare, nutrition, water management, education, and skill development for vulnerable groups in the communities we operate in – currently impacting over 8 lakh beneficiaries and aiming for 2 million beneficiaries by 2030.
Safeguarding human rights
As a responsible corporate citizen, safeguarding human rights is an integral part of doing our business. The Business and Human Rights Policy at TCP is well aligned with the required standards of International Bodies and the Tata Code of Conduct.
Diversity is an important parameter
Our employees remain our most valued assets and diversity is an important parameter in building a well-balanced workforce. We launched the Women’s Inclusion Network (WIN), a global forum to foster inclusion and bring together women across the Company to connect, learn, and grow.
A business is truly successful when it can create meaningful positive change and benefit communities.
Building resilient communities
At Tata Consumer, we believe that shared prosperity is paramount, and we will continue to do our bit to build resilient communities. We have been focusing on environmental welfare and social progress for over a decade now. With a strong foundation, network, and several initiatives in place, we will continue to build on the Tata Group’s philosophy of giving back to the planet and the community.
(Sunil D’Souza, MD & CEO, Tata Consumer Products)
(Source: Tata Consumer Products Sustainability Report, 2021-22)
Also Read: Tata Consumer Products unveils sustainability targets and commitments
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