Introduction

Our materiality assessment represents an opportunity to understand material topics relevant to our stakeholders and our business operations, in addition to providing insight on how we create value in the environment, social, and governance (ESG) landscape. In FY23, in our effort to create a holistic framework to engage with our expansive ecosystem of stakeholders, we designed an exhaustive and comprehensive materiality assessment. Through this assessment, we have derived 25 material topics critical to our value creation agenda.

Identification of material topics

Identifying material issues among industry peers based on national and international frameworks and standards

Identification of internal and external stakeholders

Develop a universe of material topics

Develop a materiality assessment questionnaire for finalized topics

Finalize the questionnaire and float it to stakeholders

Prioritization of material topics

Receive and map business objectives and risks

Data analysis for materiality assessment

Review of material topics

Draft a materiality matrix for management discussions, review, and approval

Validation of material topics

The materiality matrix is further validated by Tata Power’s senior management

Finalization of the materiality matrix

Materiality matrix

In our effort to adopt benchmark standards in corporate governance, Tata Power follows a materiality matrix, which is designed based on feedback and inference from an exhaustive online materiality survey with stakeholders

Climate strategy

Emissions management

Energy management

Continuous and affordable green power

Safeguarding biodiversity

Hazardous and toxic waste management

Water and effluent management

Diversity and inclusion in the workplace

Socially responsible employer

Employee retention, engagement, and talent development

Occupational health and safety

Labour management

Human rights

Customer relationship management

Building sustainable communities

Responsible supply chain

Creating economic value

ESG Governance

Risk management and BCDMP (Business continuity and disaster management plan)

Ethical business conduct

Transparency and accountability

Digitalization and cybersecurity

Regulatory compliance and landscape

New business opportunities

Innovation and collaborations