Tata Group Sustainability Strategy
[pic]
Tata Group Sustainability Strategy
[pic]
Mathew Ashley
Bill O’Brien
Rachel Reiter
Kevin Richards
April 12, 2010
EXECUTIVE SUMMARY
Our consultancy recommends that Tata Group (Tata): • Refine its internal definition of sustainability, • Create a separate subsidiary to coordinate, manage, communicate, and expand sustainability efforts across every business unit, and • Establish a market-specific global strategy tailored to the unique challenges and opportunities of each country and business.
These changes will allow Tata to optimally position its economic, social, and environmental sustainability efforts while addressing the company’s growing global presence, the evolving definitions of sustainability, and the increasing demand from stakeholders for measurement and transparency. Internally, the company will develop a concise definition of sustainability and a “Sustainability Credo” to guide corporate innovation and evaluation efforts. A key element of the ten year sustainability strategy recommendation is the creation of Tata Sustainable Solutions (TSS), a wholly-owned subsidiary that will allow the company to centralize disparate initiatives and provide role clarity, financial and measurement transparency for all Tata companies. While the structure of TSS will allow the company to raise additional capital and expand its sustainability efforts, TSS will be closely integrated with every Tata company, ensuring that the culture of corporate social responsibility continues and that the unique perspective and innovations from each company are nurtured and strengthened. This subsidiary will allow Tata to formalize specific initiatives and goals, putting a formal framework in place for leadership and organizational continuity. The organizational structure and operating processes of TSS will be outlined in detail in our recommendations.
The sustainability strategy includes a number of voluntary initiatives tailored to the
Tata Group Sustainability Strategy
[pic]
Mathew Ashley
Bill O’Brien
Rachel Reiter
Kevin Richards
April 12, 2010
EXECUTIVE SUMMARY
Our consultancy recommends that Tata Group (Tata): • Refine its internal definition of sustainability, • Create a separate subsidiary to coordinate, manage, communicate, and expand sustainability efforts across every business unit, and • Establish a market-specific global strategy tailored to the unique challenges and opportunities of each country and business.
These changes will allow Tata to optimally position its economic, social, and environmental sustainability efforts while addressing the company’s growing global presence, the evolving definitions of sustainability, and the increasing demand from stakeholders for measurement and transparency. Internally, the company will develop a concise definition of sustainability and a “Sustainability Credo” to guide corporate innovation and evaluation efforts. A key element of the ten year sustainability strategy recommendation is the creation of Tata Sustainable Solutions (TSS), a wholly-owned subsidiary that will allow the company to centralize disparate initiatives and provide role clarity, financial and measurement transparency for all Tata companies. While the structure of TSS will allow the company to raise additional capital and expand its sustainability efforts, TSS will be closely integrated with every Tata company, ensuring that the culture of corporate social responsibility continues and that the unique perspective and innovations from each company are nurtured and strengthened. This subsidiary will allow Tata to formalize specific initiatives and goals, putting a formal framework in place for leadership and organizational continuity. The organizational structure and operating processes of TSS will be outlined in detail in our recommendations.
The sustainability strategy includes a number of voluntary initiatives tailored to the