Policy: The Company’s commitment
in the area of economic performance is encapsulated in its
Vision statement, which is 'to sustain ITC's position as one
of India's most valuable corporations through world-class
performance, creating growing value for the Indian economy
and the Company's stakeholders'. ITC’s Mission is 'to
enhance the wealth generating capability of the enterprise
in a globalising environment delivering superior and
sustainable stakeholder value'.
The Company’s strategy is to ensure that each
of its businesses is world-class and internationally competitive
in the Indian global market in the first instance, and
progressively in the offshore global markets.
ITC, as a premier ‘Indian’ enterprise, consciously exercises the
strategic choice of contributing to and securing the
competitiveness of the entire value chain of which it is a part.
This philosophy has shaped the Company’s approach to business
into ‘a commitment beyond the market’.
Goals and Performance: At the
enterprise level the Company’s goals include:
Sustaining ITC’s position as one of
India’s most valuable corporations.
Achieving leadership in each of the
business segments within a reasonable time frame.
Achieving a Return on Capital Employed (ROCE)
in excess of the Company’s cost of capital, at all times.
Please refer to the 'Report of the Directors
and Management Discussion and Analysis' section of the Report
and Accounts 2007 for a detailed discussion on the Company’s
market standing in each of the business segments.
Context: Please refer to the 'Report
of the Directors and Management Discussion and Analysis' section
of the Report and Accounts 2007 for a detailed discussion on the
business environment, opportunities, key challenges, etc.
pertaining to each of the Company’s businesses.
Policy: ITC endeavours not only to
minimise its environmental footprint but wherever possible
create a positive environmental footprint. The Corporate
Management Committee of the Company has issued an
Environment, Health & Safety Policy. ITC’s EHS Policy
extends to all sites of the Company.
Goals & Performance: The Company has adopted 4 goals in the
area of Environment:
Performance Beyond Compliance
Carbon Positive Footprint
Water Positive Footprint
Zero Solid Waste (reduction, reuse and
100% recycling of all solid wastes)
Responsibility: It is the overall
responsibility of the Divisional/Strategic Business Unit (SBU)
Chief Executives, through the members of their Divisional
Management Committees, General Managers and Unit Heads, to
ensure implementation of this Policy and Corporate Standards on
EHS, including formation of various committees and designating
individuals for specific responsibilities in respect of their
The Corporate EHS Department is
responsible for reviewing and updating Corporate Standards on
EHS, and for providing guidance and support to all concerned.
Management: All the manufacturing units, large hotels &
Corporate EHS Department are certified to ISO 14001 Environment
Management Systems. Additionally, the Corporate EHS Department
has laid down detailed guidelines and standards for all ITC
businesses/units. Experts from the Corporate EHS Department
audit each unit at least once annually to ensure implementation
and provide assistance for further improving EHS performance.
Awards: A large number of awards and certifications
listed in this Report are a testimony to ITC’s commitment to
create positive environmental footprints.
Context: ITC businesses have identified and adopted a number
of initiatives where environmental performance provides
significant financial, strategic and sustainability benefits and
complement national priorities.
Labour Practices and Decent Work Environment
Policy: ITC is committed to
employee engagement that upholds individual dignity and
respects human rights.
ITC’s employment practices are premised on attracting and
retaining talent based only on merit. Its capability
development agenda ensures the deepening and enhancement of
skills of all its employees through customised training and
development inputs. All ITC employees operate in a work
environment that is benchmarked internationally for the
quality of its safety and health standards.
Responsibility: It is the overall
responsibility of the Divisional Chief Executives, through the
members of their Divisional Management Committees, Human
Resources and EHS Functions, to ensure that employment and EHS
practices in all Units are in accordance with the policy
outlined above and to ensure total compliance with all statutory
provisions governing labour practices and decent work. Specific
responsibilities are assigned to different individuals based on
the roles being performed by them.
The Corporate Human Resources and EHS
functions are responsible for reviewing and updating standards
and guidelines on labour and EHS policies, employment practices,
and for providing guidance and support to all concerned.
Management: The Company leadership
‘walking the talk’ and a relentless focus on implementing the
policy underline the Company’s approach to employment practices
and creating a decent work environment.
The Human Resources and EHS functions of each
business are the primary custodians of ITC’s labour and EHS
policies and employment practices, the implementation of which
is reviewed periodically at the Unit and the Divisional levels.
The Corporate Human Resources and EHS functions provide
specialist services to assist in the implementation and
monitoring of the same. The multi-layered and multi-dimensional
audit framework of the Company also helps in monitoring
compliance with laid down policies and statutory regulations.
Training & Awareness: The policy is
shared with employees and potential employees through training
programmes, communication sessions, the Company portal, intranet
sites and pre-placement presentations. Managers from HR, EHS and
Engineering departments are provided regular training for
effective implementation of these policies.
Monitoring & Follow-up: The HR and EHS
resources of the Divisions regularly monitor progress to ensure
proper implementation of these policies, while the Unit Heads
and the Divisional Management Committees follow-up periodically
to ensure full compliance. The Corporate EHS Department
undertakes regular audits of the Units.
Objectives: The primary objective is
to nurture a culture of meritocracy amongst a committed and
enthusiastic workforce from diverse backgrounds. In the pursuit
of this objective, the following goals have been set for the
next five years:
All ITC’s Units,
which are already ‘beyond compliance’ in all areas related
to labour practices, will continue to be so.
Ensure that the
Company’s record of attraction and retention of talent is
superior to other companies in the comparative sample.
Enable employees to
perform to their fullest potential to add value to the
enterprise, nation and themselves.
Company’s employee value proposition so that ITC retains its
position as an employer of choice.
eliminate accidents and injuries both onsite and offsite.
Awards: A number of awards for
excellence in Human Resources and EHS management and practices
bear testimony to ITC’s commitment to Human Resource Development
and EHS and to best-in-class employment practices.
Context: High standards of employment
and EHS practices enhance the Company’s performance, help in the
attraction and retention of quality talent, and enhance the
equity of the Company as a responsible employer.