Stakeholders' Focus
and Issues of Significance

A crucial step in creating value is preserving and strengthening stakeholder trust, which calls for transparent and responsive stakeholder engagement. At Tata Power, we regularly connect with our stakeholders to understand their perspective, receive feedback, and ascertain issues important to them. Seamless dialogue, empathy and focus on value creation underpin our stakeholder engagement.

External Stakeholders

Why they are
Engagement mechanisms Stakeholder recommendations Our response to
stakeholder recommendations

Provide equity capital

  • Scheduled analyst meets
  • Quarterly results call
  • Participation in investor conferences, roadshows
  • Resolution of Mundra issues
  • Focus on profitable renewable capacity growth despite competitive intensity
  • Maintain healthy leverage levels even while significantly scaling up growth capacity
  • Engage with all procurers of Mundra for resolution
  • Growing our green portfolio with healthy returns
  • Undertaken various measures to enable a strong and wellcapitalised balance sheet to meet its growth aspirations
  • Thrust on growing through energyefficient businesses


Provide debt capital

  • Continuous engagement at all levels
  • Ability to maintain cashflows given the difficult financial status of Discoms
  • Ability to maintain healthy leverage levels given the significant growth aspirations
  • GoI has been taking significant steps to improve the condition of the Discoms including privatisation
  • The Company has undertaken various measures to enable a strong and well-capitalised balance sheet to meet its growth aspirations

Regulatory Authorities

Provide guidance for conducting business and resolving disputes

  • Scheduled meetings
  • Regular liasoning
  • Industry forums
  • Climate change related rules/regulations
  • Optimal tariff to consumers
  • Optimal utilisation of natural resources
  • Regular engagement, communications and advocacy with regulatory authorities
  • Strict compliance with rules and regulations
  • Tracking compliance


Ultimate recipient of our products and services

  • Customer satisfaction surveys
  • Formal and informal feedback
  • Timely and high-quality completion of projects
  • Quality and reliability of power supply
  • Improved notifications of disruption, failures, or maintenance for customer transparency
  • Integrated, smart and convenient power management solutions
  • Timely and high-quality completion of renewable projects
  • Improvement of operational efficiency
  • Reduction in forced outages
  • Cost-effective energy solutions
  • Regular safety awareness campaigns for customers
  • Introduction of digitally-enabled solutions such as smart meters
  • Offering bundled solutions to enhance customer convenience


Help us develop our business ecosystem, support our sustainability initiatives, and create shared value

  • Regular supplier/vendor meets
  • Contract revision and negotiation meetings
  • Formal supplier assessment to verify ESG performance
  • Increased awareness to partner green initiatives
  • Evaluation of vendors/suppliers through ESG criteria
  • Shared common vision through vendor meets
  • Contractual clauses to reflect organisational expectations on ESG

Civil Society

Enable better implementation of our environment and social initiatives and give feedback

  • Project-based stakeholder meets
  • Periodic meetings
  • Augmented community involvement
  • Transparency in business practices and their impacts
  • Responsible business conduct and commitment to sustainability
  • Robust internal and financial control system
  • Emphasis on community development and affirmative action initiatives
  • Collaborative initiatives for carbon mitigation

Local Community

Provide a better socio-economic context in our operating environment

  • Project-based stakeholder meets
  • Participation in CSR activities
  • Increased infrastructure for training community members
  • Safety and security of facilities as well as electricity supply
  • Training and skill development of contractors undertaken by Tata Power Skill Development Institute (TPSDI)
  • Regular safety awareness campaigns undertaken for customers and other community stakeholders


Plays a vital role in keeping our stakeholders informed of business developments, new products and services as well as the impact of our business operations

  • Media briefings
  • Press releases
  • Marketing communication
  • Increased transparency and clarity in shared information
  • Presence of a robust corporate communications team
  • A strong media and communication strategy across the Company

Employee Unions

Help set standards for education, skill levels, wages, health, and employee benefits and working conditions of our employees

  • Scheduled meetings
  • Dedicated surveys
  • Ethical and responsible business conduct
  • Equal opportunities for all
  • Adherence to Tata Code of Conduct for all employees
  • Continuous support of management to promote diversity
  • Formulation and implementation of Human Rights policy
  • Support for collective bargaining through union employees

Internal Stakeholders

Why they are
Engagement mechanisms Stakeholder recommendations Tata Power’s response to
stakeholder recommendations
Board of Directors and Leadership

Provide collective guidance and direction for the Company’s strategy and operations

  • Scheduled quarterly Board Meetings
  • Strategy Board Meetings
  • Scheduled Board Committee Meetings
  • Market leadership
  • Maximise shareholder value
  • Focus on sustainable businesses
  • Focus on customer-centric policies and ethical business conduct
  • Proactive interaction with investors for ESG initiatives and strategy
  • Periodic review of perceived risks and mitigation strategy
  • Periodic review of business strategy and performance
  • Greater emphasis on growth through non-fossil-based business ventures
  • Increased focus towards ESG disclosures and clear communication on ESG aspirations
  • Sustained focus on strengthening community collectives and local public institutions


Form the backbone of our business activities

  • Training and seminars
  • Meetings and reviews
  • HR programmes
  • Employee engagement satisfaction surveys
  • Departmental meetings
  • Townhall meetings
  • Quarterly management communication
  • Work-life balance
  • Transparent appraisal and promotion policy
  • Stability of internal policy
  • Fair remuneration structure
  • Encourages a work culture which respects employees needs and aspirations
  • Robust appraisal system and redressal process
  • Benchmarking salary structure to be among the best in the industry
Materiality Assessment

In FY23, considering both internal and external stakeholders' concerns, we carried out a fresh and comprehensive materiality assessment. Through this assessment, we have derived 25 material issues significant to our value creation process.


Identifying material issues of industry peers and national and international frameworks and standards


Identification of internal and external stakeholders


Develop universe of material topics


Develop materiality assessment questionnaire for finalised topics


Finalise the questionnaire and float to stakeholders


Receive and map business objectives and risks


Data analysis for materiality assessment


Draft materiality matrix for management discussions, review and approval


Finalisation of materiality matrix

Stakeholders Covered for the Assessment Include

Internal stakeholders

  • Senior Management Team
  • Employees

External stakeholders

  • Investors
  • Supply Chain Partners
  • NGOs/Service Providers
  • Brand and Media
  • Customers and Consumers

The Material Issues Identified Are:
  • Climate strategy
  • Emissions management
  • Energy management
  • Affordable and green energy
  • Safeguarding biodiversity
  • Hazardous and toxic waste management
  • Water and effluent management
  • Diversity and inclusion in workplace
  • Responsible employer
  • Employee retention, engagement and talent development
  • Occupational health & safety
  • Labour management
  • Human rights
  • Customer relationship management
  • Building sustainable communities
  • Responsible supply chain
  • Creating economic value
  • ESG governance
  • Risk management
  • Ethical business conduct
  • Transparency and accountability
  • Digitalisation and cybersecurity
  • Regulatory compliance
  • New business opportunities
  • Innovation and collaborations
Materiality Matrix

This was followed by an online materiality assessment survey was rolled out to all stakeholders. Data analysis of the input from survey was carried out and materiality matrix was developed.

  1. Climate Strategy
  2. Emissions Management
  3. Energy Management
  4. Continuous & Affordable Green Power
  5. Safeguarding Biodiversity
  6. Hazardous & Toxic Waste Management
  7. Water and Effluent Management
  1. Diversity and Inclusion in workplace
  2. Socially Responsible Employer
  3. Employee Retention, Engagement and Talent Development
  4. Occupational Health & Safety
  5. Labour Management
  6. Human Rights
  7. Customer Relationship Management
  8. Building Sustainable Communities
  9. Responsible Supply Chain
  1. Creating Economic Value
  2. ESG Governance
  3. Risk Management & BCDMP (Business Continuity & Disaster Management Plan)
  4. Ethical Business Conduct
  5. Transparency and Accountability
  6. Digitalisation and Cybersecurity
  7. Regulatory Compliance & Landscape
  8. New Business Opportunities
  9. Innovation and Collaborations
Material Issues and Their Mapping to SBOs and SDGs

We have clubbed our material issues under seven broad categories of:

Material Topics Capitals Impacted SBOs Mapped Contribution to UN SDGs

Climate Change Management

  • Climate strategy*
  • Emissions management
  • Energy management
  • Continuous and affordable green power*

Environmental Stewardship

  • Safeguarding biodiversity
  • Hazardous and toxic waste management
  • Water and effluent management

Workforce Wellbeing

  • Diversity and inclusion in workplace
  • Socially responsible employer
  • Employee retention, engagement and Talent development
  • Occupational health & safety
  • Labour management

Social Responsibility

  • Human rights
  • Building sustainable communities

Customer Engagement

  • Customer relationship management
  • Digitalisation and cybersecurity

Future Readiness and

  • Risk management and business
  • Business Continuity & Disaster Management Plan (BCDMP)
  • New business opportunities*
  • Innovation and collaborations
  • Responsible supply chain*

Corporate Governance

  • Creating economic value
  • ESG governance
  • Ethical business conduct
  • Regulatory compliance and landscape
  • Transparency and accountability

*Emerging material issues identified

Social & Relationship