Page 161 - Tata Steel One Report 2024-Eng-Ebook HY

Business Operation and Performance Driving Business Towards Sustainability
Corporate Governance Policy Financial Statements Attachments
• Waste Management (Waste and Hazardous Waste Management): the Company emphasizes reduction in waste to landfill with results of 99.82% waste utilization during the year. In financial year 2024–25, all 3 plants of TSTH Group have improved waste management process to comply with the latest regulation on waste management, enforced in November 2023.
• Water Consumption and Effluent Discharge / Water Resource Management: all 3 plants of TSTH Group have been designed for zero discharge. The Company has continuously improved water management by reconditioning old water pipes and maintaining time- based replacement of water-cooled parts for all 3 plants. The actions include reconditioning of Cooling Tower to improve efficiency in all 3 plants. The Company is targeting for achieving Water Neutrality by 2030.
TSTH also conducts Carbon Footprint Assessment, and develops Emission Reduction Plans and is looking forward to the enactment of Thailand Climate Change Act.
The Company has undertaken Limited Assurance for Business Responsibility and Sustainability Report (BRSR) which is the core KPIs assessment for the year 2023-24. It is concluded that the Company’s identified Sustainability information included in the Statement of ‘BRSR Core' for the financial year ended March 31, 2024, is prepared, in all material respects, in accordance with the Criteria.
Employee Wellbeing, Human Rights and Labor Relations: The Company prioritizes employees’ health and wellbeing, which is essential to the performance as well as long-term growth and sustainability. In financial year 2024–25, the Company prepared the manpower pipeline of Engineer Trainees, Technician Bench Strength at plants and Diploma Trainees for Commercial & Support Function. To create awareness on health, wellbeing, safety, and functional skills, various training programs were arranged such as First aid & CPR, Health talk, stretching activities, etc.
Customer Satisfaction: The Company has conducted the internal pulse survey during the financial year 2024–25. The Company has focused on a Customer Centric Culture to improve the relationship and service level to customers. The Company strives to continuously improve the quality of its products and services. During the year, the company implemented the quality factor to improve the quality detection system of wire rod for steel cord application and improved product quality to meet customer’s requirements and improved process control to reduce no. of claims. The Company also implemented ‘TATA Steel TH Connect’ phase II for digital platform.
Business Ethics, Integrity and Transparency, Corporate Governance: The Company received a Corporate Governance score of 100 out of a total of 113 in 2024 (Excellent category). The average score for the listed companies in Thailand was 84 (Very good). In addition, the Company has organized training on Tata Code of Conduct (TCoC) and related policies, such as Whistleblower Policy, Anti-Bribery and Anti-Corruption Policy for 100% of new employees and arranged communication sessions with value chain partners, such as vendors, and contractors for clarification of the Tata Code of Conduct and related policies. KPMG Thailand is designated as a third party for TCoC’s reporting of any concerns of misconduct. In fighting corruption and bribery in all forms, the Company has received recertification of “CAC Certificate of Membership” for another 3 years from 2022 to 2025 from Thai Private Sector Collective Action against Corruption (CAC) and is in the active process of renewal of same this year. Tata Group also provided feedback on the Annual Compliance Report (ACR) for FY24 of TSTH Group as “Advanced” in Leadership and Communication &Training pillars; “Established” in Compliance Structure and Measurement of Effectiveness pillars.
Risk Management: to proactive risk mitigation and provide support in decision-making across in the organization including emerging risks as well as Business Continual Plan (BCP), the Company conducted cross-functional meetings, and set up top-down risk review sessions and conducted risk workshops for employees.
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