Policy on Stakeholder Engagement
ITC believes that an effective stakeholder engagement process is necessary for achieving its sustainability goal of inclusive growth. ITC accordingly anchors its stakeholder engagement on the principles of:
- Materiality - taking prioritised consideration of the economic, environmental and social impacts identified to be important to the organisation as well as its stakeholders.
- Completeness - understanding the stakeholders' key concerns and expectations.
- Responsiveness - responding coherently and speedily to such issues and concerns.
It is ITC's policy:
- To identify and engage with all its stakeholders in a consistent and systematic manner;
- To understand the concerns of stakeholders including those who are disadvantaged, vulnerable and marginalised and prioritise their concerns;
- To work towards addressing these concerns in an equitable and transparent manner.
- This policy is communicated to all employees in an appropriate and meaningful manner.
- ITC Units have appropriate systems and processes in place to ensure compliance with the Policy and with statutory provisions, including processing of grievances for redressal. Divisional / SBU Chief Executives, through members of the respective Management Committees, will ensure implementation of this Policy.
- Compliance with the Policy will be regularly monitored and evaluated by the Sustainability Compliance Review Committee (SCRC) of the Corporate Management Committee (CMC). The report of the SCRC will be reviewed by the CMC every quarter. The CSR & Sustainability Committee of the Board will supervise the implementation of this Policy.
This Policy was approved by the Board on 25th April, 2014.