Tata Chemicals Limited (TCL) is a market-leading international company committed to integrating environmental, social and ethical principles into our business. We recognize sustainability as essential to improving the quality of life and our endeavors for ensuring a safer, healthier and greener world for future generations.
We conducted a natural capital assessment to understand the societal impacts of our operations and to identify the associated risks and opportunities for our business. We followed the framework of the Natural Capital Protocol to measure and monetize environmental externalities. This study focused on our operations at the Mithapur Chemical complex (gate-to-gate), with focus on impact drivers such as air emissions and solid waste. We assessed products and processes related to soda ash, vacuum salt, cement, other marine chemicals and the captive power plant.
The study confirmed that GHG emissions represent the most important impact driver, accounting for 93% of total impact followed by solid waste and Non-GHG emissions.
We found it challenging to measure and value the impact of land-use change and its related impacts on biodiversity. Yet, we learned that areas dedicated for biodiversity offer ample opportunities to be used as green belts, providing potential for carbon sequestration and nesting space for endangered species.
This further reinforces the need to conduct a more comprehensive analysis of natural capital dependencies, other value chain products and cover more upstream and downstream impacts to mitigate any supply chain disruptions. Categorically, we recognize this and will use it to inform and strengthen our business decisions going forward.
Ms Alka Talwar, Chief CSR & Sustainability Officer, Tata Chemicals Limited