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Corporate CSR Ethics

Asleep At The Wheel!

While large organisations clearly understand the importance of creating and driving a focus on sustainability, many of them still fall asleep at the wheel. Addressing and driving sustainability is, today, an accepted focus area for most businesses, but while a few progressive corporations take sustainability seriously, many still don’t get it. It is not only...

8% Increase In Corporate Spending On CSR

Corporates have spent Rs.70.5 bn, an increase of 8% compared to the previous year on CSR (corporate social responsibility) initiatives. This puts the CSR spend at 98% of the prescribed spend - based on the Act, The S&P BSE 100 companies were required to spend Rs.72.0 bn on CSR, according to a recent report...

Building Sustainable Value Chains

According to a Bain & Company study, companies employing sophisticated supply chain methods enjoy 12x greater profit than companies with unstructured methods. Some of the largest companies in the world understand that having an attitude of sustainability extend beyond the enterprise to the supply chain makes business sense. From a sustainability perspective, it is...

196 Companies Face Penal Action For CSR Violations: Government

The corporate affairs ministry has given permission for penal action against 196 companies for violating CSR norms in 2014-15 fiscal, according to union minister P P Chaudhary. Under the Companies Act, 2013, certain class of profitable entities are required to shell out at least two per cent of their three-year annual average net profit towards...

How To Do CSR Better?

A robust and thriving development sector is central to India’s quest for equitable, inclusive and sustainable growth. Over the years India’s development sector has evolved substantially and now the CSR regulation is posing new challenges for the sector. It is calling NGOs to scale up, become more transparent and professional, learn to run projects...

More Nudging Needed To Ensure CSR Norms Compliance: Official

When it comes to comply with corporate governance and CSR spending norms, the government feels there is a need for "little more nudging and prodding", according to a senior official. Under the Companies Act, 2013 -- which is implemented by the corporate affairs ministry -- there are strict norms for ensuring good corporate governance practices...

The Joy Of Gifting During Christmas

In the true spirit of bringing cheer, which is really the cornerstone of Christmas celebrations, various corporates went out of their way to spread joy, especially amongst children. SMAAASH hosted a Christmas party for the children of Muskaan Foundation, a NGO dedicated to the people having multiple disabilities. Smiling faces were witnessed at the cannon shooting,...

CSR Spending Rose To Rs 9,882 Crore In 2015-16: P P Chaudhary

Companies spent nearly 12 per cent more money at Rs 9,882 crore towards CSR works in 2015- 16, Union minister P P Chaudhary said as he appealed to companies to contribute more to such activities. He added that a host of government programmes, including Swachh Bharat Mission and Namami Gange, provide opportunities for corporates to...

Clean Energy Taps Limited CSR Funding, Report Says

Companies are quick to pledge efforts to push renewable energy but found wanting when it comes to making investments in clean energy initiatives under their corporate social responsibility (CSR) heads. According to a report by Mumbai-based consultancy Samhita, which analysed data reported by top 100 BSE-listed firms as per CSR spend, CSR investments in clean...

NASSCOM Foundation Reports Rise In Industry CSR Spending

The Nasscom Foundation, at its flagship event, the CSR Leadership Conference (CLC), announced that the industry had widely accepted the 2% CSR rule with a trend of more companies coming out openly to declare 100%+ utilisation of their CSR money for 2016-17. This year the CLC went beyond discussing basic intervention areas, to talk about...

Handlooms, Handicrafts Not In The Purview Of India’s CSR Spending

Any company in India with revenues more than Rs 1,000 crore has to compulsorily invest 2 percent of its profit on developmental activities, be it poverty eradication, gender, hunger or education. After trying to find loopholes in the law and figuring out ways of not ploughing...

Championing The Growth Of Employment

In today’s world, youth unemployment is a considerable social tragedy, with one third of young people worldwide without access to education, training or a job of any kind. 40% of the world’s unemployed people are youth aged 15-24, according to the International Labor Organisation (ILO). Thyssenkrupp Elevator is partnering with SOS Children’s Villages to support...
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