Page 50 - Tata Steel One Report 2024-Eng-Ebook HY

Business Operation and Performance Driving Business Towards Sustainability
Corporate Governance Policy Financial Statements Attachments
have been set in various matters such as competency and potential development of women employees, seeking ways to eliminate or resolve problems that may obstruct the work.
Equal opportunity employer: The Company provides equal opportunities to all employees and to all eligible applicants for employment. The Company does not discriminate on any ground, including race, caste, religion, color, ancestry, marital status, gender, sexual orientation, age, nationality, ethnic origin, disability, or any other category protected by applicable law.
Human Rights: The Company clearly defines the Human Rights policy in treating various groups of stakeholders, including the policy not to employ child labor and use of forced labor in any form. The Company commits to managing employees, business partners and contractors working on behalf of the Company to adhere to the same principles and give importance in bringing the human rights principles as guidelines for business operations in all aspects.
Anti-Bribery and Anti-Corruption and Business Ethics Policies: The Company has a policy on Anti-Bribery and Anti-Corruption in all forms and provides training and communication to the Board of Directors, Executives, and all employees to acknowledge and follow. This includes policies related to promoting ethical behavior such as Providing or Receiving Gift and Hospitality Policy, Policy for providing gifts to government agencies, Whistleblower Policy and Policy and Practices for prevention of sexual harassment at workplace.
The Company is a “certified member” of Thai Private Sector Collective Action against Corruption CAC) since 2016 and has been recertified in 2019. The Company invites business partners to submit the Declaration of Intent to join Thai Private Sector Collective Action against Corruption (CAC). the Company received the approval for recertification of “CAC Certificate of Membership” for another 3 years, 2022-25. The Company has also been a member of Partnership against Corruption for Thailand (PACT) and signed a declaration to promote children’s rights and business principles at “The Children Sustainability Forum,” hosted by UNICEF.
Risk Management
To achieve sustainable growth for business, and being able to create shareholder value, TSTH has implemented an Enterprise Risk Management (ERM) process to provide a holistic view of aggregated risk exposures as well as to support the decision-making process thereby improving performance. The ERM process framework is aligned with Tata Steel (TSL) Group framework which has been designed and developed with various inputs from the best practices across industries and international standards like Committee of Sponsoring Organization of the Treadway Commission (‘COSO’) and ISO 31000 and tailored with suitable customizations to meet the requirements of the company.
Risk identification is a two pronged (top-down, bottom- up), iterative process, which is dynamic in nature and has been considered from all known business risk factors with a detailed analysis of business environment and market condition, risk prioritization is done after categorizing them under classes A, B and C based on risk score, the combined product of risk likelihood & risk impact and mapped onto the Risk Heat Map. The risk scores are regularly evaluated based on the developments in the early warning indicators and status of implementation of mitigation strategies which are regularly reviewed by senior executives of various functional units as well as at the Apex Risk Review Committee chaired by the President & CEO to avoid any undue deviations or adverse events by designing and implementing appropriate mitigation plans proactively.
48 Tata Steel (Thailand) Public Company Limited