MAHINDRA & MAHINDRA LTD. | Integrated Annual Report 2021-22

COMPANY OVERVIEW BOARD’S REPORT MANAGEMENT DISCUSSION AND ANALYSIS CORPORATE GOVERNANCE BUSINESS RESPONSIBILITY REPORT STANDALONE ACCOUNTS CONSOLIDATED ACCOUNTS 198 Principle 5: Businesses should respect and promote human rights 1. Does the policy of the company on human rights cover only the company or extend to the Group/ Joint Ventures/Suppliers/Contractors/NGOs/Others? • The Business Responsibility Policy covers the aspects on Human Rights for the Company. • However, Human Rights issues are also a part of the supplier selection process and are included in the contracts drawn up with them. • The Company has put in place an Ethics helpline managed by an external agency to ensure that any violations to its Code of Conduct (including violation of Human rights) are addressed objectively. 2. How many stakeholder complaints have been received in the past financial year and what percent was satisfactorily resolved by the management? • During the year 67 complaints were received through the Ethics Helpline portal, of which 39 were investigated and resolved (constituting 58% of the complaints received), and 28 were pending. Subsequent to the year end, 7 cases were concluded. • Out of the above 67 complaints, 5 were addressed to the Chairman of the Audit Committee of which 4 complaints were investigated and resolved and 1 complaint is pending. • M&M has a well-defined four step Grievance Redressal Machinery available at each plant for workmen through which grievances are tracked and addressed. • Additionally, Employee Satisfaction Surveys are carried out periodically to capture overall satisfaction level and improvement areas. All low scoring responses are discussed in focused group meetings and are duly resolved. • Although there is no process to separately maintain records for grievances related to Human Rights, the above stated mechanism adequately addresses this issue. There is a mechanism for all employees of Automotive and Farm Sectors to voice their concerns to the Sector President through a ‘Reach-out’ mailbox which is confidential. Additionally, to address Human Rights violations in for blue collared workmen (Permanent & Flexible workforce), a Grievance Register has been kept at Time Office to raise concerns. However, no complaints have been received or reported during the reporting year. Principle 6: Business should respect, protect, and make efforts to restore the environment 1. Does the policy related to Principle 6 cover only the company or extends to the Group/Joint Ventures/ Suppliers/Contractors/NGOs/others? At Mahindra, several environmental policies addressing different issues are in place. The Green Supply Chain Management Policy includes environment protection and covers suppliers. The subsidiaries/joint ventures have their own environmental policies that are in line with the Company’s recommendations and policies. 2. Does the company have strategies/ initiatives to address global environmental issues such as climate change, global warming, etc? Y/N. If yes, please give hyperlink for webpage etc. Yes • The Company is the first firm to commit to EP 100 initiative by The Climate Group. • A carbon price of US $10 per ton of carbon emitted has been implemented at the Company. • The Company has also committed to Science Based Targets (SBT) and targets have been approved to limit average world temperature rise in accordance with the Paris Climate Change Agreement. • In accordance with these targets, the entire group aspires to become carbon neutral by 2040 by investing in energy efficiency, renewable energy, and carbon offsets through tree plantation. • The Company’s sustainability roadmap is in place, with goals to cut carbon emissions, reduce water use, boost renewable energy use, and improve waste recycling. • The Company is a signatory of the India Business Biodiversity Initiative (IBBI). • Mahindra’s senior leadership has engaged on a number of national and international committees that promote sustainable practises. • Further strategies and initiatives will be elaborated in the Company’s Sustainability Report for Financial Year 2021-22.