What are the material issues the company has identified?

In its 2020-21 Sustainability Report Page identified a range of material issues, such as environmental compliance, anti-corruption, chemical management, greenhouse gas emissions, human rights. Among these, creating economic value for its stakeholders stands out as a key material issue for Page.

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 Page engages with:

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

Stakeholder Group	Method of engagement
Employees	·      Effective Communication ·      Shopfloor meetings ·      Emails and Notice Board ·      Employee portals ·      Awareness Programmes ·      Employee Magazine ·      Goal Setting Process and Performance appraisal ·      Reward and recognition programmes ·      Employee involvement in CSR ·      Employee referral programme ·      Sports and Cultural Activities ·      Page Academy and Centre of Excellence – Training sessions ·      Leadership Connect ·      Customer Orientation ·      Grievance Redressal Mechanism ·      Annual reward and recognition programmes
Customers	·      Customer feedback mechanism ·      Grievance redressal mechanism ·      Ad campaigns ·      Social media
Investors	·      Investor relationship cell ·      Investor group meetings ·      Quarterly and annual results ·      Investor conferences ·      Annual Reports and Sustainability reports
Regulators	·      Submission of performance reports ·      Annual and Sustainability Reports ·      Compliance reports ·      Attending meetings and discussions held by regulatory bodies
Suppliers	·      Supplier Meets ·      Emails and posts ·      Feedback via grievance cell
Business Partners	·      Scheduled regular interactions ·      Sharing of reports ·      Carrying out annual joint/ collaborative business plans with distributors
Financial	·      Submission of performance reports ·      Annual Report
Distributors	·      Regular discussions with the assigned Sales team member ·      Email correspondence ·      Data sharing and accounts statement checks on PIP portal (Company) ·      Feedback by the Distributor sales team on SFA tab ·      Distributor meets
Communities	·      Baseline Surveys ·      Focused Group Interviews ·      Surveys on various assessment through reputed NGO ·      Based on inputs from community through employees ·      Through referrals ·      Community representatives ·      School Development Committees ·      Through government officials

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

In its 2020-21 Sustainability Report Page reports that it took the following actions for creating economic value for its stakeholders:

• Creating economic value for employees
• In FY 2020-21, Page paid ₹ 5,637.52 million for employee wages and benefits.

• Creating economic value for providers of capital
• In FY 2020-21, Page paid ₹ 3,085.87 million to providers of capital (dividends, interest payment to providers of loans).

• Creating economic value for the government
• In FY 2020-21, Page paid ₹ 1,128.41 million in corporate tax.

• Creating economic value for communities
• In FY 2020-21, Page spent ₹ 62.58 million in community 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:

• Sustainable Development Goal (SDG) 8: Decent Work and Economic Growth
• Targets: 8.1, 8.2
• Sustainable Development Goal (SDG) 9: Industry, Innovation and Infrastructure
• Targets: 9.1, 9.4, 9.5

 

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.

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References:

This case study is based on published information by Page, 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://static01.jockey.in//CEDocuments/Sustainability-Report-2020-21.pdf

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