Sustainability is becoming a key deciding factor during consumers’ buying journey and this is shaping the evolution of businesses.
MUMBAI: Tata Consumer Products (TCP), the consumer products company uniting the principal food and beverage interests of the Tata Group under one umbrella, has announced sustainability targets and commitments across its operations.
Releasing Business Responsibility and Sustainability report (BRSR)
TCP released its Business Responsibility and Sustainability report (BRSR) audited by the British Standards Institute (BSI), which lays out its Sustainability Strategy ‘For Better Living’. The report aims to further enhance and strengthen TCP’s ESG disclosure.
Sustainability strategy
It lays out the company’s sustainability strategy based on inputs from multiple stakeholders and includes holistic goals and targets across various parameters. The strategy encompasses four key areas- For Better Nutrition, For Better Sourcing, For a Better Planet and For Better Communities. The report aims to communicate the company’s ESG journey roadmap and progress updates on our projects.
Sustainability Commitment
“Our commitments include net-zero status, water neutrality, circular economy of plastics, diversity in the workforce, sustainable products and sustainable sourcing.”, the company said.
Sustainability becoming deciding factor during consumers’ buying journey
Sustainability is becoming a key deciding factor during consumers’ buying journey and this is shaping the evolution of businesses. It is also increasingly becoming a key consideration for all stakeholders including shareholders, employees, and business partners. TCP’s Sustainability strategy draws learnings from several sources such as the UN’s Sustainability Development Goals (SDGs), materiality analysis conducted with a wide cross-section of our stakeholders, industry trends, regulatory requirements and scientifically developed targets.
Below are some key highlights from the report. The complete report can be viewed here
Better Sourcing: Sustainable value chains from farm to shelf
This encompasses raw material sustainability, supply chain traceability, and sustainable agriculture.
Highlights FY 2021-22
- 700 mn kg tea sustainably transformed in India via trustea, a sustainability code co-founded by TCP.
- 59% of Tata Tea portfolio verified by trustea- a sustainability code and verification system for the tea sector in India.
- 100% of Tetley tea in the international business is Rainforest Alliance certified.
- Tetley UK & USA recognized as Amazon Climate Pledge friendly, representing our support for natural ecosystems
Targets
- 100% sustainably sourced critical raw materials by 2040.
- 100% critical supplier assessments across all geographies by 2030.
Better Nutrition: Improved access to healthy, safe and natural food for all
This includes responsible marketing, product stewardship, access to nutrition and consumer connect
Highlights FY 2021-22
- 25 new products launched in India and other geographies.
- Innovation to sales 2x of previous year.
- Recognition for excellence in packaging innovation.
- 500 tonnes reduction in packaging material.
Targets
- Increasing the reach of our product portfolio from 200 mn households to 250 mn by 2030.
- 100% sustainable products by volume by 2040 as defined by our sustainable product index covering sourcing, manufacturing, wellness, packaging and supplier sustainability.
Better Planet: clean energy, replenished water, preserving biodiversity, pioneering circular economy
This includes initiatives across driving net zero, water conservation, preserving nature and biodiversity and taking an active role in the pioneering circular economy.
Highlights FY 2021-22
- Carbon footprint decreased by 26% from 2010 to 2021, despite a much larger scope of business after the merger.
- 24% of our current energy needs in the India supply chain network are met by solar power.
- Tea packeting centers generated 47% higher solar energy compared to FY 2020-21
Targets
- Net Zero by 2040 across all geographies.
- Water neutral across all operations by 2030.
- Zero waste to landfill across all geographies by 2030.
- 100% of packaging material to be recyclable, compostable or reusable across all geographies by 2030.
Better Communities: enhance the quality of life and create shared value for our communities. Foster an equitable, inclusive, and safe working culture
This includes initiatives across community engagement, equitability, employee health & well-being, and human rights.
Highlights FY 2021- 22
- 80% of laminates used in salt packaging were recyclable
- All our beverages factories worldwide are zero waste to landfill
- Non hazardous waste recycled through authorized vendors
- Rainwater harvesting and groundwater recharge at select locations
Targets
- Positively impact 2 million beneficiaries by 2030
- 50% diverse workforce by 2030
ESG agenda has evolved to become sharper and more integrated
Speaking about the release of the Sustainability Report, Sunil D’Souza, MD & CEO, Tata Consumer Products said, “In tandem with Tata Consumer’s transformation journey, our ESG agenda has evolved to become sharper and more integrated. Our recently launched Sustainability Report underscores the importance of embedding sustainability across our operations.”
For Better Living
“It details our Sustainability strategy ‘For Better Living’ comprising net zero, sustainable sourcing, natural resource management, circular economy, and community development. We have made specific commitments across these areas with the intent of laying out a clear roadmap to achieve our sustainability goals. We remain committed to growing our business in a responsible manner and will continue to strengthen our sustainability agenda further.”, he added.
Also Read: Sustainability is becoming one of the key deciding factors during a consumer’s buying (indiacsr.in)
(India CSR)
