Management Approach
Aditya Birla Group Corporate Principles and Code of Conduct are the ideologies we follow for ensuring good corporate governance in our organizations. The Principles and Codes are practiced and monitored within the group with an aim to follow the highest standards of ethics and values.
Corporate Governance Philosophy & Principles
Corporate governance refers to a set of laws, regulations and practices that enable an organisation to perform efficiently , ethically generate long-term wealth and create value for all its stakeholders.
We are committed to the adoption of best governance practices and its adherence in the true spirit, at all times. These practices are self-driven, reflecting the culture of the trusteeship that is deeply ingrained in our value system & reflected in our strategic growth process. Our governance philosophy rests on five basic tenets, viz.,
- Accountability to the company and stakeholders
- Equitable treatment to all shareholders
- Strategic guidance and effective monitoring
- Protection of minority interests and rights
- Transparency and timely disclosure
- Resolution of stakeholder concerns
In line with the above philosophy, Birla Cellulose continuously strives for excellence through adoption of best governance and disclosure practices. Our sustainable business programme is supported by a solid governance structure that engages senior management as well as those on the ground. This ensures that all colleagues are driving change in a uniform manner.
Governance Structure for the Implementation
of Sustainability
Birla Cellulose is a group of several privately held companies & is a part of Aditya Birla Group headquartered in Mumbai, India. Business Director (CEO) is responsible for the sustainability & climate-related issues in the organization & these issues are reviewed by the Business Review Council (BRC) which is the equivalent of Board of Directors in the Birla Cellulose governance structure. The BRC comprises of Aditya Birla Management Corporation Pvt. Ltd. Directors which meets quarterly to review the business progress, various initiatives and provide guidance & oversight of the business performance including sustainability.
Birla Cellulose’s Business Director heads the Executive Committee (ExCom) of Birla Cellulose comprising of Head of Manufacturing Fibre Business Operations (COO Fibre), Head of Pulp Operations (COO Pulp), Chief Sales and Marketing Officer (CMO), Chief Technology Officer (CTO), Head of Finance (CFO) & Chief Human Resource Officer (CHRO).
The business strategy, business goals and business plan and annual financial plans are reviewed & approved by BRC. The execution of business plan and strategy is the responsibility of BRC.
BRC & ExCom approves the sustainability and climate goals and provide the resources & budgets to achieve these goals &ensure climate-related risks are addressed as a part of business strategy. The annual planning and capital expenditures for the deployment of sustainability strategy is approved by BRC & ExCom. Chief Sustainability Officer appointed by ExCom, works in close collaboration with all the functions (operations, marketing, safety, R&D, HR, Finance) to deploy the initiatives and monitor the sustainability performance.
At the site level, Sustainability and Safety Committees headed by the Unit Head ensures the strategy is implemented on the ground. They are mandated to deliver the requirements outlined in our policies appropriately for the site and to put action plans in place. Central Sustainability Cell supports the sites in executing the policies and programs related to Sustainability..
Corporate Governance
Aditya Birla Group Corporate Principles and Code of Conduct are the ideologies we follow for ensuring good corporate governance in our organizations.
