Stakeholder engagement
Trust with transparent communications
In our endeavour to build a sustainable future, we, at Tata Power, aim to develop strategic partnerships with our stakeholders and increasingly engage them in the Company’s activities and operations. Stakeholder inclusivity and prioritisation ensure the correct understanding and adequate response to stakeholder needs, interests and expectations. Our engagement approach has been curated to address the critical nature of our business scope and outcome.
Tata Power’s Stakeholder Engagement Strategy
Our stakeholder engagement strategy ensures a precise level of advocacy and transparent communication with our stakeholder groups on the challenges that Tata Power faces as well as the various opportunities and initiatives introduced to address stakeholder concerns. Accordingly, we formed strategic stakeholder groups based on specific criteria in accordance with the nature of each group. Our stakeholder engagement process has incorporated requisite channels of communication to build on our robust relationships as well as increase our understanding of stakeholder concerns and challenges. Our interaction with stakeholders also enabled us to develop a better perspective on relevant material matters for Tata Power. This, in turn, helps to improve the overall strategy and orientation of our businesses.
Stakeholder
Groups
Why are they
important
Engagement
Mechanisms
Stakeholder
Recommendations
Investors
Provision of financial capital that
enables the sustainable growth of
Tata Power
important
- Scheduled investor meets
- Quarterly results call
- High Leverage
- CGPL Tariff resolution
- Growth and profitability of renewables
- Shift focus from R&D to outsourcing technology
- Better communication about progress on Company targets
Lenders
Provision of debt capital to the expansion of Tata Power’s business activities
- Periodic meetings
- Financial status of Distribution Companies (Discoms)
- Increased disclosure on Environment, Social and Governance (ESG) aspects
Regulatory Authorities
Access to operating licences and the imposition of regulatory measures
- Scheduled meetings
- Regular liaising
- Industry Forums
- Colour coding underground cables of Municipal Corporation of Greater Mumbai (MCGM)- to ensure identification and avoid damage during civil work
- Consideration of micro tunnelling
- Climate change awareness and alignment to Nationally Determined Contributions (NDC)
- Reduce dependence on imported coal
Customers
Bedrock for our growth as a Company
- Customer satisfaction surveys
- Formal and informal feedback
- Quality and reliability of power supply
- Improved notifications of disruption, failures or maintenance for customer transparency
Board of Directors & Leadership
Ensures the prosperity of Tata Power through collective direction of the Company’s affairs whilst meeting the appropriate interests of our stakeholders and shareholders
- Scheduled Board meetings
- Scheduled and special Board Committee meeting
- Storage and trading of renewable energy, micro grid operations, and electric vehicle charging
- Focus on customer-centric policies and ethical billing
- Proactive interaction with investors for ESG initiatives and strategy
- Periodic review of perceived risks and impact of CSR activities
Employees
Form the backbone of our business activities and play an important role in improving productivity, efficiency and boost our profits
- Training and seminars
- Meetings & Reviews
- HR programmes
- Employee satisfaction surveys
- Departmental meetings
- Townhall meetings
- Quarterly Management communication
- Work-life balance
- Transparent appraisal and promotion policy
- Stability of internal policy
- Fair remuneration structure
Suppliers/ Vendors
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 for partnering in green initiatives
NGO
Enable better implementation of our environment and social initiatives
- Project-based stakeholder meets
- Periodic meetings
- Ethical business practices
- Increased community involvement
- Transparency in business practices and their impacts
Local Community
Provides a better socio-economic context in our operating environment to ensure long-term viability of our business activities
- Project-based stakeholder meets
- Participation in CSR activities
- Increased infrastructure for training community members
- Safety and security of facilities as well as electricity supply
Media
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
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
