Tata Sustainability Group
Tata Sustainability Group guides, supports and provides thought leadership to Tata group companies in embedding sustainability in their business strategies
Sustainability, in a business context, is an approach that creates long-term stakeholder value by balancing economic, environmental and social performance. The Tata group believes that being successful in business is not only about performing well in financial terms – which is of course very critical – but also ensuring that all its stakeholders benefit. Thus, how the profits are made are as important as how much.
Set up in 2014, the Tata Sustainability Group (TSG) is a group-level resource meant to work with Tata companies across the world in the sphere of sustainability. TSG’s mission is ‘To guide, support and provide thought leadership to all Tata group companies in embedding sustainability in their business strategies and demonstrating responsibility towards society and the environment.’
TSG’s mission is based on the Tata group’s core value: “To improve the quality of life of the communities we serve globally through long-term value creation for all stakeholders.”
Sustainability in the Tata context is about ensuring that in the process of doing business, its companies assess its impacts on society and the environment and minimise the harm as they work towards maximising the good.
As the Tata Group’s nodal resource on sustainability, TSG performs several functions:
- Its advisory function involves assisting the group, as well as individual companies in myriad ways, ranging from developing group-level policies and strategies to reviewing processes and guiding companies in their stakeholder engagement.
- As part of its knowledge function, TSG brokers, manages and makes available a wide range of information, best practices and tools to group companies, covering all aspects of sustainability
- TSG’s execution function covers a range of inputs, including thought leadership and communicating its thinking and work to a wider audience. At the core of this function are the three areas it is responsible for implementing:
- Group CSR programmes like Tata STRIVE that focuses on skill enhancement,
- The group volunteering programme Tata Engage (www.tataengage.com) and
- Responding to humanitarian emergencies and strengthening disaster risk reduction strategies