In October 2021, we formulated Vision 2031, encompassing various goals and aspirations to be achieved by the Company, with one of the Vision statements focused solely on Environmental, Social, and Governance (ESG) aspects: "To be known for our ESG standards". In pursuit of this vision, an ESG Policy was crafted and adopted by the Company in May 2022. This policy encapsulates the core objectives of people and community empowerment, fostering a low-carbon economy, promoting responsible corporate governance, and adhering to business integrity practices.
An ESG Committee, comprising senior members from key functions across the Company is chaired by a member of the senior management team. This committee consistently oversees the Company's operations to ensure alignment with sustainability objectives. It reports to both the Executive Board and the Board of Directors on the Company’s ESG strategy. Additionally, members of the ESG Committee have the flexibility to collaborate with other Board Committees, such as the Risk Management Committee, to address challenges encountered in executing ESG assessments, or with the CSR Committee to make decisions pertaining to social impact initiatives. Similarly, they engage with other Committees to facilitate seamless collaboration in executing plans and programs.
Recognizing the significance of "G" in ESG, the Company has integrated environmental sustainability, social responsibility, and good governance practices into its corporate decision-making processes, operational procedures, and governance structures.
To ensure fairness and transparency, the Company has designed and implemented policies that align with organizational standards of the code of conduct. These include:
The policy aims to safeguard and promote legitimate business practices throughout the organization. It prevents and prohibits corruption, bribery, and similar acts. The Company has established a platform called “WE HEAR” to encourage the secure disclosure of unethical behavior, actual or suspected fraud, or violations of the Company’s Code of Conduct and Ethics.
This policy articulates the Company’s values of Sharing, Mindful, Integrity, Learning, Excellence, and Social Responsibility (SMILES). Integrity, as one of the core values, involves respecting commitments not only in letter but also in spirit. It emphasizes being reliable, trustworthy, and dependable, exhibiting professional, intellectual, and financial integrity by being truthful, transparent, and honest, and adhering to what is right, not just what is convenient.
This policy underscores the Company’s commitment to responsible corporate citizenship. It provides a secure process for all Happiest Minds and consultants, including subsidiaries, to report concerns regarding suspected violations of laws or codes applicable to the Company. The policy ensures adequate safeguards against victimization or vindictive practices such as retaliation, threats, or adverse actions.
The policy ensures that issues of misconduct are managed and addressed in a fair and consistent manner. It provides guidelines to promote a safe, conducive, and enabling work environment. The disciplinary processes outlined are not corrective in nature; rather, they aim to assist individuals in improving their standards of conduct and behavior to meet acceptable standards.
The policy establishes a mechanism for members to raise grievances or concerns on the “WE HEAR” portal. Efforts are made to resolve these grievances within two working days. If the grievant is not satisfied with the resolution, they have the opportunity to escalate the matter directly to the Executive Board or Executive Chairman. Additionally, in line with the philosophy of fostering a positive and safe environment, the team can utilize other forums such as ‘Just Ask,’ ‘Ask EB,’ and ‘Ask Ashok’ to highlight matters or concerns they observe.
