MAHINDRA & MAHINDRA LTD. | Integrated Annual Report 2022-23

75 COMPANY OVERVIEW BOARD’S REPORT MANAGEMENT DISCUSSION AND ANALYSIS CORPORATE GOVERNANCE BUSINESS RESPONSIBILITY AND SUSTAINABILITY REPORT STANDALONE ACCOUNTS CONSOLIDATED ACCOUNTS The Company has prepared the BRSR for the Financial Year 2022–23 in accordance with the format as prescribed in the SEBI Circular dated 10 th May, 2021. The BRSR is intended towards having quantitative and standardized disclosures on ESG parameters to enable comparability across companies, sectors and time. Such disclosures will be helpful for investors to make better investment decisions. The BRSR shall also enable companies to engage more meaningfully with their stakeholders, by encouraging them to look beyond financials and towards social and environmental impacts. The BRSR of your Company for the Financial Year 2022-23 forms part of this Annual Report as required under Regulation 34(2)(f) of the Listing Regulations. Your Company strongly believes that sustainable and inclusive growth is possible by using the levers of environmental and social responsibility while setting aspirational targets and improving economic performance to ensure business continuity and rapid growth. Your Company is committed to leverage ‘Alternative Thinking’ to build competitive advantage in achieving high shareholder returns through customer centricity, innovation, good governance and inclusive human development while being sensitive to the environment. Risk Management Your Company has a well-de ned risk management framework in place. The risk management framework works at various levels across the enterprise. These levels form the strategic defence cover of the Company’s risk management. The Company has a robust organizational structure for managing and reporting on risks. Your Company has constituted a Risk Management Committee of the Board which is authorized to monitor and review risk management plan and risk certi cate. The Committee is also empowered, inter alia , to review and recommend to the Board modi cations to the Risk Management Policy. Further, the Board has constituted a Corporate Risk Council comprising the Senior Executives of the Company. The terms of reference of the Council include review of risks and Risk Management Policy at periodic intervals. Your Company has developed and implemented a Risk Management Policy which is approved by the Board. The Risk Management Policy, inter alia , includes identi cation of risks, including cyber security and related risks and also those which in the opinion of the Board may threaten the existence of the Company. Risk management process has been established across the Company and is designed to identify, assess and frame a response to threats that affect the achievement of its objectives. Further, it is embedded across all the major functions and revolves around the goals and objectives of the organization. M. C ORPORATE SOCIAL RESPONSIBILITY AND SUSTAINABILITY Corporate Social Responsibility (CSR) “Challenge conventional thinking and innovatively use all our resources to drive positive change in the lives of our stakeholders and communities across the world, to enable them to RISE.” Aligned with the above stated core purpose, for more than 75 years, your Company has been at the forefront of helping people RISE through impactful CSR projects that have addressed critical issues of our time. CSR for a business includes being responsible for its business processes and products, and engaging in accountable relationships with its employees, customers, and the community. Your Company has built its reputation as a good corporate citizen by not only doing good business, but also by driving positive change in society. For your Company, CSR is not only about adhering to statutory and legal compliances but also creating social and environmental value for its stakeholders thus contributing to build an equal and future-ready nation. Your Company has a vibrant CSR portfolio that primarily serves the constituencies of girls and women and supports the environment through a massive tree plantation drive. It has delved into the tenets of Environment, Social and Governance (ESG) and has approached business conscientiously through sustainable and inclusive projects. For the Financial Year 2022-2023, your Company continued to focus on investing in girls, women, and tree plantations through high standard projects in the domains of education, skill development, and environment. This year your Company made special efforts in supporting women in rural as well as urban areas of India. Significant partnerships and strategies led to leveraging expertise and resources leading to greater social impact. As a thought leader and a pioneer in CSR, your Company has invested in transformational collaborations thereby enabling and empowering many more girls, women and farmers across the country to RISE.