Mindtree Archives - SustainCase - Sustainability Magazine Insights on how you can protect the environment, maintain and increase the value of your company, through a structured CSR/Sustainability process with the use of the GRI Standards. Learn how Today's Best-Run Companies are achieving Economic, Social, and Environmental Success - and How You Can Too... Fri, 01 Sep 2023 05:58:11 +0000 en-US hourly 1 https://wordpress.org/?v=7.1 Case study: How Mindtree creates economic value for its stakeholders https://sustaincase.com/case-study-how-mindtree-creates-economic-value-for-its-stakeholders/ Fri, 01 Sep 2023 05:58:11 +0000 https://ccprowebs.com/new-sustaincase.com/?p=15293 Mindtree is a purpose-driven business technology partner enabling global clients to leverage digital technologies in a way that transforms business models, experiences, and operations. Mindtree is a conscientious, futuristic, and sustainable organisation committed to an inclusive vision, shared growth, and positive value creation with its stakeholders. This case study is based on the 2021-22 Sustainability Report by Mindtree, prepared in accordance with the GRI Standards, that can be found at this link. Through all case studies we aim to demonstrate what CSR/ ESG/ sustainability reporting done responsibly means. Essentially, it means: a) identifying a company’s most important impacts on the […]

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]]> Mindtree is a purpose-driven business technology partner enabling global clients to leverage digital technologies in a way that transforms business models, experiences, and operations. Mindtree is a conscientious, futuristic, and sustainable organisation committed to an inclusive vision, shared growth, and positive value creation with its stakeholders.

This case study is based on the 2021-22 Sustainability Report by Mindtree, prepared in accordance with the GRI Standards, that can be found at this link. Through all case studies we aim to demonstrate what CSR/ ESG/ sustainability reporting done responsibly means. Essentially, it means: a) identifying a company’s most important impacts on the environment, economy and society, and b) measuring, managing and changing. 

Building long-term value for all its stakeholders, moving towards shared value creation through the path of ESG, is a top priority for Mindtree.  Tweet This! In order to create economic value for its stakeholders Mindtree took action to:

  • create economic value for employees
  • create economic value for the state
  • create economic value for capital providers
  • create economic value for the community

What are the material issues the company has identified?

In its 2021-22 Sustainability Report Mindtree identified a range of material issues, such as green tech and innovation, skilling and development at scale, sustained growth, climate change, corporate governance. Among these, creating economic value for its stakeholders stands out as a key material issue for Mindtree.

Stakeholder engagement in accordance with the GRI Standards

The Global Reporting Initiative (GRI) defines the Principle of Stakeholder Inclusiveness when identifying material issues (or a company’s most important impacts) as follows:

“The reporting organization shall identify its stakeholders, and explain how it has responded to their reasonable expectations and interests.”

Stakeholders must be consulted in the process s of identifying a company’s most important impacts and their reasonable expectations and interests must be taken into account. This is an important cornerstone for CSR / sustainability reporting done responsibly.

Key stakeholder groups Mindtree engages with:

To identify and prioritise material topics Mindtree engaged with its stakeholders through the following channels:

Stakeholder Group                Method of engagement
Customers ·      Project feedback survey

·      Customer experience survey

·      Steering committee meetings

·      Delivery governance

·      Project status review meetings

·      Senior management interactions

·      Customer touchpoints (Appreciations and escalations)

·      Request for proposals

·      Mindtree website
Employees ·      CEO Connect

·      All Minds Meet Crest awards

·      Performance Mgmt. System

·      Sustainability portal

·      PeopleHub (intranet)

·      Genie (Online issues resolution)

·      Global call centre for support

·      Direct communication with senior leaders

·      MindSpeak (Grievance mechanism)

·      Whistleblower

·      YORBIT – Skilling platform

·      Virtual engagement initiatives

·      Health initiatives

·      Yammer engagement portals

·      Project-linked engagement surveys

·      Recognitions
Communities ·      Social programmes

·      Interaction with communities and NGOs through Mindtree Foundation

·      CSR projects

·      Project status review meetings

·      Field visits

·      Mindtree Foundation website and social media
Regulators and public policy makers

 

 ·      Workshops

·      Panel discussions

·      Industry events
Suppliers

 

 ·      Vendor meets

·      Operational reviews

·      New supplier portal
Investors ·      Annual Report

·      Sustainability Report

·      Annual General Meeting

·      Quarterly stakeholder reports, Financials

·      Quarterly earnings call

·      Investor/ analysts meets

·      Stakeholder Relationship Committee

·      Dedicated Investor Relations contact, email-id

·      Newsletters

·      Press releases

What actions were taken by Mindtree to create economic value for its stakeholders?

In its 2021-22 Sustainability Report Mindtree reports that it took the following actions for creating economic value for its stakeholders:

  • Creating economic value for employees
  • In 2021-22, Mindtree paiBuilding long-term value for all its stakeholders, moving towards shared value creation through the path of ESG, is a top priority for Mindtree. d 6,294.49 INR in crores in personnel expenses.
  • Creating economic value for the state
  • In 2021-22, Mindtree paid 557.77 INR in crores in taxes and royalties (given to various Govt. wherever business units were located).
  • Creating economic value for capital providers
  • In 2021-22, Mindtree paid 453.10 INR in crores in dividends.
  • Creating economic value for the community
  • In 2021-22, Mindtree spent 16.32 INR in crores in community development/CSR investments.

Which GRI Standards and corresponding Sustainable Development Goals (SDGs) have been addressed?

The GRI Standard addressed in this case is: Disclosure 201-1 Direct economic value generated and distributed

Disclosure 201-1 Direct economic value generated and distributed corresponds to:

 

78% of the world’s 250 largest companies report in accordance with the GRI Standards

SustainCase was primarily created to demonstrate, through case studies, the importance of dealing with a company’s most important impacts in a structured way, with use of the GRI Standards. To show how today’s best-run companies are achieving economic, social and environmental success – and how you can too.

Research by well-recognised institutions is clearly proving that responsible companies can look to the future with optimism.

7 GRI sustainability disclosures get you started

Any size business can start taking sustainability action

GRI, ISEP, CPD Certified Sustainability courses (2-5 days): Live Online or Classroom  (venue: London School of Economics)

  • Exclusive FBRH template to begin reporting from day one
  • Identify your most important impacts on the Environment, Economy and People
  • Formulate in group exercises your plan for action. Begin taking solid, focused, all-round sustainability action ASAP. 
  • Benchmarking methodology to set you on a path of continuous improvement

See upcoming training dates.
References:

This case study is based on published information by Mindtree, located at the link below. For the sake of readability, we did not use brackets or ellipses. However, we made sure that the extra or missing words did not change the report’s meaning. If you would like to quote these written sources from the original please revert to the following link:

https://www.mindtree.com/sites/default/files/2022-05/Mindtree_Sustainability_Report_2021-22.pdf

Note to Mindtree: With each case study we send out an email requesting a comment on this case study. If you have not received such an email please contact us.

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