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May 4, 2025
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Green Finance Charter Signed With European Development Finance Institutions

An investment symposium on ‘The Opportunity of Green Finance in India’ was recently organised where the four banks signed a charter to champion green finance in India. YES Bank, FMO (the Development Bank of the Netherlands), along with DEG (the Development Bank of Germany) and Proparco (the Development Bank of France), signed the charter.

Through the charter, the four banks have committed to mobilise green investments, seize opportunities in India’s sunrise sectors, and contribute to achieving India’s Nationally Determined Contribution (NDC) and Sustainable Development Goals (SDGs) targets, towards climate change.

The symposium aimed to shed light on the increasing investment potential of green assets in India and the Asia-Pacific region. The proceeds of the green bonds issued by YES Bank have helped fund renewable energy projects across nine states of India, and are estimated to generate 2.35 million MWh of electricity, annually.

“Green Financing has become a propeller of the global sustainability agenda and will play a mission critical role in meeting India’s climate targets. The government’s thrust towards transforming India into a low-carbon economy offers financial institutions and investors an unprecedented opportunity to leverage green financing as a growth accelerator for sunrise and climate positive sectors such as renewable energy,” said Rana Kapoor, MD & CEO, YES Bank.

The first Green Infrastructure Bonds were issued by the bank in February 2015, raising INR 10 billion, followed by a second issue of INR 3.15 billion in August 2015. In September 2016, INR 3.3 billion were raised by issuing a 7-year term green bond to FMO – the Dutch bank’s first investment in Green Infrastructure Bond issued by a bank in India.

Linda Broekhuizen, Chief Investment Officer, FMO, said, “FMO is convinced that to accelerate green finance and to have a meaningful impact, it is essential that financial institutions, governments and international development finance institutions bundle forces. This event forms a unique platform to discuss the opportunity-side of green finance, connect the parties and propel local prosperity.”

Over 50 different domestic and international financial institutions, spanning the public and private sector, including regulators, stock exchanges, rating agencies, banks, private equity firms, and DFIs, attended the symposium. Present were key stalwarts from the banking and finance industry such as Mr. Ashishkumar Chauhan, MD & CEO, Bombay Stock Exchange; Ms. Ayaan Z. Adam, Director, Private Sector Facility, Green Climate Fund; Ms. Chandni Khosla, Head, International Business, National Stock Exchange, and Ms. Barnali Mukherjee, Chief General Manager, Securities Exchange Board of India, amongst others.

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A Step Towards Safety In The Online Sphere

The sphere of the online digital space is expanding every day. Every requirement can be fulfilled by one application on your phone or a website. Social media has grown exponentially over the past 10 years and part of its aim was to promote neutrality and equal opportunities. However, it has changed into an unsafe place of interaction for people, especially women and other marginalised genders. While this problem persists globally, women especially in India feel threatened by cyber offensives and crimes online. Trolling, privacy violation and infiltration are a few among the many concerns shared by the women users of the internet. This was proved when Facebook had to bring a few changes to its security, for its second largest market, here in India.

Recently Mark Zuckerburg’s owned social media site adopted two new measures to make women in India feel safer online. The first feature is a guard that keeps others from downloading, sharing or taking screenshots of pictures. The second is a design overlay that users can put on their profile pictures. This move is to protect pictures, location of the user and prevent identity theft. A research done by Facebook in the India with safety organisations led them to realise that people, especially women, feel unsafe on social media platforms. Many people refrain from using the site for its intended purposes, some were even leaving the site.

Facebook developed the new tools in partnership with Indian organisations such as Centre for Social Research, Learning Links Foundation, Breakthrough and Youth ki Aawaz. The company also partnered with Jessica Singh to create designs for people to add to their profiles.

According to a research published by the website feminisminIndia.com in 2016, online abuse is a major issue where 50% of their respondents had faced it in some way or another.  36% of respondents who had experienced harassment online took no action at all. 28% reported that they had intentionally reduced their online presence after suffering online abuse. A report by oneindia.com claims that cyber crimes reports have risen by nearly 63.7%. The number of cases reported in the year 2012 was 3,477 while the subsequent year witnessed 5,693 cases. One such case was reported from Kottayam in Kerala where a girl went to meet with a person she had become friends on Facebook. However when she met him, she was abducted.

It is cases like these, and other examples of online abuse in India, that have led to Facebook undertaking such measures for its women user base in India. The ensuing Criminal Law Amendment Act of 2013 extended the definition of stalking in the penal code to include online behaviour. Stalking has since been defined as a man following or contacting a woman, despite her clear disinterest, or monitoring her internet usage or electronic communication. But it is important to encourage women to report these crimes since that would be the first step in fighting cyber crime.

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The Story Behind India’s Sporting History

There is a prominent narrative that we hear when we mention sport and India and it is that we as a country seem to lack a “sporting culture”. While we are all aware of the country’s rich cultural heritage, diversity and unique traditions, what is arcane to the masses is that sport has also been a major part of this illustrious history.

For any athlete to master a sport, physical perfection is of utmost importance as it allows the athlete to improve his or her performance. We see this trait in top athletes like Cristiano Ronaldo, LeBron James and Virat Kohli. The attainment of physical perfection was one endeavour that was very close to ancient Indians too. Dehvada or the “way of the body” was considered one of the ways to full realisation, and the development of the body was as important as spiritual growth.

The myth that India has no “sporting culture” cannot be further from the truth. In fact, our nation’s sporting culture was present even in Ancient India. Much like in Ancient Greece, many of the sports played in Ancient India were derived from actions one would conduct in war. The Indus Valley civilization (2500-1550 BC) played sport with weapons that were used in hunting and in war, like the bow and arrow, the toran (javelin) and the chakra (discus). This extended beyond just the physical. Games were created to inculcate a mindset for war strategy.

Chaturanga was played to create and master military strategy and it gave birth to what we fondly know today as Chess. While the original form of the game relied heavily on luck (as it was played with dice), it evolved into a synthesis of both strategy and good fortune. In the Mahabharata, we see a version of Chaturanga played with dice. The Manas Olhas (1135 AD) speaks about other sports that were present such as Bharashram (weightlifting), Bharamanshram (walking) and Mall-Stambha (a different type of wrestling). Swimming, sword fighting, wrestling and ball games were also popular among students in Nalanda and Taxila.

Martial arts is one form of sport that one associates with the Far East but what is not known by many is that its origins are Indian. Kalaripayattu, an ancient martial art form that originated from Kerala, draws a remarkable resemblance to Karate. This form was heavily used in training warriors in the Sangam era and is considered to be one of the oldest fighting systems in existence. It involves using knives and swords and was an equally powerful unarmed self-defence technique. With the advent of Buddhism, this art form spread across the Far East countries. Since monks never carried any weapons, as it was against their religious beliefs, they would often spread this art form along with the teachings of Buddha. The relationship between the student and teacher we see in Judo and Karate also resembles the perennial guru-shishya tradition.

Fast forward to the early 20th century, pre-independence era, India still had individuals accomplishing remarkable feats on the international stage with the likes of Dhyan Chand and Roop Singh gaining recognition in Hockey during the Olympics; Vijay Merchant in cricket; and Mohammed Salim in international football. Vijay was one of India’s best cricketers in the pre-independence era averaging a score of 71 every game, only second to Don Bradman. Mohammed Salim played for Celtic Football Club in Scotland and was the first Indian footballer to play in Europe. His mesmerising technique and ball control (even more impressive given his insistence on playing barefoot against booted opponents) resulted in much adoration from the Celtic fans.

To suggest that India does not have a sporting culture is incorrect. In recent times this culture might be dormant, but in no way is it non-existent. Throughout Indian history we see instances where sport was integral to society and played a critical role in shaping culture. Hence, it is our responsibility to reawaken and nurture what is deeply intrinsic to us Indians – Sport!

Sanjeev AnandThe author, Sanjeev Anand is Country Head – Commercial Banking and in-charge of Sports Vertical, IndusInd Bank and an avid sports enthusiast.

Views of the author are personal and do not necessarily represent the website’s views.

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CSR To Be Compulsory For UAE Companies

UAE companies will have to allocate funds and be involved in social responsibility initiatives by end of 2017, a top official said.

To implement the Year of Giving strategy, the Ministry of Economy launched 11 initiatives on Monday to create workplaces that take up philanthropy as part of its core values and helped the government keep a database and monitor the companies’ compliance to philanthropy.

The ministry, which will implement its initiatives starting 2018, is currently working with different economic departments and the chamber of commerce to make the required modifications in current policies and laws to make Corporate Social Responsibility compulsory for UAE companies.

Sultan Bin Saeed Al Mansouri, Minister of Economy, said, “Ever since the country declared 2017 as the Year of Giving, national efforts have started to contribute to the development of an integrated framework that will spread the culture of giving across the country.”

Therefore, by the end of the year, CSR will be mandatory to execute among 400,000 companies across the country, aiming to dedicate at least Dh500 million (50 crores) in cash or in-kind philanthropic work from companies.

Mohammed Ahmed bin Abdelaziz Al Shehhi, Undersecretary of the Ministry, said, “Auditors will be required to present financial statements to verify CSR involvement.” He noted the audit declaration will be a requirement for their business license renewal.

However, the percentage of funds that companies will be required to allocate to CSR initiatives, whether monetary or in-kind, is yet to be announced.

“The percentage is under discussion and will be announced when new legislations are out,” said Al Shehhi on the sidelines of the ministry’s first annual Corporate Social Responsibility event held in line with Zayed Humanitarian Work Day.

An award system will be introduced to give financial privileges and exemptions for outstanding companies in the area of social responsibility.

“Financial privileges include partial exemption from bank guarantee for workers, corresponding to the value of the community contribution. Outstanding companies will also be given a priority in government contracts,” said Al Shehhi.

CSR is one of the six pillars of the Year of Giving strategies announced to endorse the culture of giving among society members.

Al Shehhi noted that companies will be required to register in the smart platform www.csruae.ae that includes areas companies can contribute in depending on society’s needs priorities. The electronic platform will also provide guides, examples and models on how to implement CSR, while also sharing success stories of companies.

The ministry also announced implementing the CSR Index that lists the ranking of entities in the country based on the percentage of their contributions to community responsibility projects.

Al Shehhi added that companies will start registering in July, and the evaluation process and results of the first annual report will be in June 2018 in line with Zayed Humanitarian Work Day. Workshops will be held to identify relevant stakeholders in the importance of community responsibility.

A “social responsibility passport” will also be given to the top five best performing companies in the field, based on the company’s vision, its community strategy and the extent of innovation in its community programs. The passport will grant special privileges with local and federal government agencies.

An annual “social responsibility label” will be a sign used to promote companies that will reflect the extent of their contributions to community development and philanthropic work.

Al Shehhi said all these initiatives will come into action by 2018. “We cannot start giving the labels and passports except when we have new policies and legislations,” he noted.

The initiatives aim to raise awareness and support the interaction of the private sector with economic, social and environmental development challenges, while encouraging them to support various community projects in the country.

(Khaleej Times)

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सीएसआर फंड विभिन्न क्षेत्रों में खर्च करना चाहिए: सुधीर मुनगंटीवार, वित्त और वन विभाग मंत्री, महाराष्ट्र

सीएसआर याने कॉर्पोरेट सोशल रिस्पांसीबिलीटी समाज में बदलाव के लिए मील का पत्थर साबित हो रहा है।सीएसआर के तहत कई ऐसे काम हो रहे है जिससे ना सिर्फ समाज मे बदलाव हो रहा है बल्कि लोगों की जिंदगी में भी काफी बदलाव आ रहा है। 8 जनवरी 2016 को महाराष्ट्र में सीएसआर को सही दिशा मिले इसके लिए राज्यपाल और सीएम देवेंद्र फडणवीस की मौजूदगी में बैठक हुई। जिसके बाद महाराष्ट्र में कई प्रोजेक्ट्स में व्यावसायिक घरानोने  सीएसआर फंड के जरिये सरकार, समाज और लोगों की मदद की।

बात करें महाराष्ट्र के वन विभाग की तो  फॉरेस्ट टुरिझम और टाईगर प्रोजेक्ट्स को बढ़ावा देने के लिये बॉलीवुड के महानायक अमिताभ बच्चन को ब्रॉड एम्बेसेडर बनाया गया है। जिसके बाद इस विभाग में सीएसआर के तहत कई रचनात्मक बदलाव हुए है। सरकार और सीएसआर के बारे में वन और वित्त मंत्री सुधीर मुनगंटीवार से खास बातचीत की द सीएसआर जर्नल के सीनियर एडिटर मनोज भोयर ने।

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Binding Issue Of Heat Wave On The Rise

Uneven temperature patterns recorded in different states this year are bringing heat waves back into the news. India’s temperature has increased substantially due to global warming. The harm caused by this phenomenon has only been discussed in theory. However, recently it’s damage is being seen on ground. In March 2017, Maharashtra saw three deaths due to heat strokes. A few other states that recorded higher temperature than usual, became a cause of worry when it turned into a killing force.

A heat wave is defined as a period of unusually high temperatures, exceeding normal highest temperature of a particular area. The Indian Meteorological Department has criteria laid down to declare heat waves in any region.

Due to climate change, the frequency of heat waves has increased in the 21st century, more so in the South Asian countries. India has been very vulnerable in this respect, with Indo-Gangetic plains being largely afflicted. States mainly affected during the heat wave season are Andhra Pradesh, Telangana, Odisha, Gujarat, Rajasthan, Madhya Pradesh, Uttar Pradesh, Vidarbha region of Maharashtra, Bihar, Jharkhand and Delhi.

A study published in Science Advances Journal in June 2017 discussed the health impacts of heat waves and their growth in the past few decades. It claims that heat stress during periods of high temperatures may also exacerbate health problems, such as cardiovascular and respiratory diseases, and cause life-threatening crises. India is a country where a big portion of the population doesn’t have basic health and social amenities like water, shelter, access to air conditioning and medical assistance. Hence, it is a bigger problem for us. Exposure to high temperatures could lead to dehydration, heat cramps, the rapid rise of body temperatures and nausea.

In May 2015, Indian Express reported death toll in Andhra Pradesh up to 600 and Telangana up to 215. In four years, heatwaves have claimed over 4000 lives.

Weather reports done in the previous years claim that mean temperature across India between 1971 and 2007 have increased more than 0.5 degrees. Southern and western parts of the country experienced 50% more heat wave since 1985, than decades before.

The government adopted the Heat Action Plan when deaths due to heat strokes were at an all-time high, and it proved to be a path breaker. The main pointers in a plan like this are recognising the heat wave as a health risk and reaching out to people. Information about it is dispensed through various means and public cooling shelters are made. This worked wonders in Ahemdabad and was adopted by other states last year. But now, the scale of this has drastically increased and stricter methods have to be put in place. Changes need to be made not just on the state level but globally. Global warming is a common concern that all countries share and needs every individual’s responsibility and attention.

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Strengthening the CSR Ecosystem: Role of the Media

In India, Corporate Social Responsibility is an extension of achieving sustainable development goals in a more structured way. Corporate Social Responsibility (CSR) has the potential to address the socio-economic and political inequalities. CSR is a wonderful platform to bring social justice in ensuring basic rights for a dignified life for all. Given the scope and scale of social development, CSR as a development tool becomes even more effective with the coming together of various entities in the ecosystem.

The simplest definition of an ecosystem is a network of complex or interconnected system. There are largely three key players in the context of Corporate Social Responsibility in India – private companies or Corporates, Government and Government Support Organisations (popularly known as Non-Government Organisation, NGO) and the media. In the context of the above, the current article sheds light on how media could play a vital role in building a vibrant CSR ecosystem that fosters and fuels collaboration, growth of innovation, and exchange of best practices.

It is important to note that creating a vibrant CSR revolves around the tripod of transparency, integrity and reporting. It is applicable for all players in CSR ecosystem. These play a critical role in ensuring openness among stakeholders in project implementation, tracking and course correction. Some of the best practices of corporate processes could be exchanged through these mediums for mutual trust.

Communication helps in disseminating the success stories for other companies and implementing partners to imbibe such practices. Given the advancement in communication, it is critical to capture processes, anecdotes and success stories through audio-visual, print and online media platforms. These are some of the best of ways of sharing the commitment through appropriate creative and branding opportunities for building Public Relations.

It is important to have platforms and forums to showcase CSR success stories. Some would argue that it is too early to have such avenues to disseminate success stories. However, building such matured platforms is a time consuming and hence starting early makes a great deal. It is important to note that CSR as an Act is new, but there are large conglomerates and multinationals continuing with their past of doing good and would continue to add to the common good. CSR forums act as platforms to acknowledge, recognise and reward the good work and provide required impetus and encouragement. These platforms build opportunities to connect, network and collaborate for mutual success.

Appreciation in any form is good as long it is evaluated appropriately and institutionalised. It adds a status of celebration to the good work. These platforms coupled with positive media coverage would help support CSR achieve the mega milestones in bringing about change in lives of the downtrodden. It is important that the mainstream media picks up stories and brings out series of publications for people to know, read and understand efforts towards improving social development indicators.

It is time that all stakeholders in the CSR space believe that vibrant ecosystem is critical for strengthening and success of CSR. The need of the hour is to get the entire ecosystem together and focus on making CSR ecosystem a more vibrant place. A robust CSR ecosystem gives level playing field for everyone and every size of the enterprise. Media has huge responsibility to bring all relevant stakeholders under one roof, be it government, public and private enterprises, and academic institutions, in strengthening the CSR ecosystem. The media has wherewithal to build, nurture and elevate such platforms and forums to keep momentum in CSR space.

About the Author: Nirbhay K is a CSR professional and an IIT alumnus. Author can be reached @NirbhayK2.

The views and opinions expressed in the article are solely of the author in personal capacity and do not in any way represent views of any institution, entity or organization that the author may have been associated with.

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Yoga At Your Desk: International Yoga Day

Three years ago, Prime Minister Narendra Modi called out to celebrate the practice of yoga on June 21. Sometime later, it was adopted by the United Nations as International Yoga Day. This year’s theme mainly revolves around ‘Yoga For Health’. It points at making yoga an integral part of your life, will lead to the betterment of your physical and mental health. The general idea of this day and its significance remains very restricted. Corporations, schools, government institutions and individuals do yoga one morning in the whole year and preach its benefits.

The lifestyle and work culture of present times do not allow people to go out every day and spend one hour for yoga or any sort of exercise. Therefore, for some time now, a new form of yoga has been on the rise. Practicing yoga while sitting on your chair in your workplace or your class has been a style of yoga, which is being widely practiced. All the meetings, time spent staring at a computer screen and sitting in one posture for hours has been deemed unhealthy by medical experts all over the world. It causes back pains, spinal injuries, stress, eye problems and many other serious medical conditions in young adults. It also takes a toll on the employees’ mental health.

Therefore, the concept of yoga in your chair eliminates the time factor from the equation. It helps you utilise the ten minutes break during your shift to relax your body, with beneficial exercise. Simple movements of your neck, eyes, and exercises for your abdomen are proving to be very beneficial for the young adults sitting in offices from 9 to 5, or students sitting in classes all day. Many colleges have incorporated this alternative yoga method in their curriculum, where the students can use in the breaks between their classes.

Pradeep Solanki, a yoga instructor from Yoga on Call, an organisation promoting and facilitating this yoga practice, said, “Some exercise is better than no exercise at all. Professionals who do not have the time for an hour-long session can make a lot of difference to their health by adopting yoga in their routine, even in a small way. When you are stuck in a traffic jam or in the middle of a long meeting, giving your body an out helps with mental stress management.”

According to a World Health Organisation study done in 2016, India is the diabetes capital of the world with 69.2 million people suffering from it. It was also found that diabetes is more prevalent in urban areas. A report published by National Commission on Macroeconomics and Health in 2005 claimed that by 2015, 64 million people would suffer from cardiovascular diseases, aged under 40 years. 40% of the suicides in India are committed by people below 40 years of age, which is an indicator of higher stress levels.

A simple solution to overcome the increase in the above figures is yoga. It helps in flexibility, stamina, body strength, improving sleep cycle and maintaining mental balance. Way over 4 million people have pledged to make yoga a regular activity in their lives, but more has to be done than signing an online petition. Your body needs a healthier lifestyle amidst all the rush and commotion. Alternative or not, make yoga a habit for the improvement of your health.

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Alandi To Pandharpur: A Journey Towards Awareness

On June 18th, the world’s longest pilgrimage, the Palkhi Sohala 2017, started from the towns of Alandi and Dehu, with millions of people on foot, chanting the name of their god, Lord Vitthal. Every year, at the beginning of the monsoon, people walk in groups, called dindis, carrying paadukas (footwear) of Saints Dnyaneshwar and Tukaram for 250 kms, all the way to Pandharpur, where there is a temple of Vitthal. This tradition goes back to the 13th century and is known as waari. Those participating in this journey are called warkaris.

It is an important tradition in the Maharashtrian culture comprising of a 20-day long journey. A large number of people hoping to attend the waari are unable to, due to various constraints. Seven years ago, Swapnil More, along with his small team found a way to help such people. He founded Facebook Dindi, a website that provides live updates about the waari as it goes along its route. The response this website got in its first year was phenomenal. Almost 10,000 people connected with Swapnil on social networking sites. Over the years, the following for this page only increased and website got regular traffic, with close to one crore people visiting the site.

Since last year, Facebook Dindi started carrying out social awareness campaigns about pressing issues, to initiate discussions through their strong social media presence. This year’s theme is women empowerment.“This started out as a way of updating and helping out people who are unable to participate in the waari themselves. But when our followers increased, we thought we would use this reach to get out social messages and help in whatever way we can”, said Swapnil More. “Last year we raised awareness about water retention, collaborating with Environmental Forum of India, Baramati. This year, we thought we would take up women’s issues as our campaign. We call it “Waari ti chi” which loosely translates to ‘Her Journey’, he added.

More explained that this year’s wari is about the battle women face, about their expression, their existence, their liberation and their identity. He further added that the campaign suggests that a woman’s struggle starts from the moment she is in the womb. There itself people try to destroy her existence and from that point begins a “waari” – a never ending journey of hers. The issues addressed through their campaigns this year are female foeticide, child sexual abuse, misconception about menstruation, child marriage, dowry and domestic violence, widows’ rights and many more.

As part of their campaigns, Facebook Dindi conducts interviews with experts working in the field they have chosen as their social issue, like lawyers, social workers, and activists. Their video interviews have over 10 lacs views. This year, the team will be interviewing mainly the women who are taking part in the waari, taking their opinions on the present condition of women in the country. Also expressing her viewpoint will be advocate Varsha Deshpande, founder of ‘Lek Laadki Abhiyaan’ and head of Rising India Research Foundation, Dr. Girish Laad.

This group is demonstrating ways of using social media to fulfill one’s own social responsibility. By engaging and encouraging these activities online, a person can fulfill his social as well as spiritual realizations.

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Value Alignment Is Essential To Co-Create Projects: Garima Dutt, Senior Manager, CSR, GlaxoSmithKline

Concentrated in the space of healthcare, GlaxoSmithKline is in partnership with World Health Organisation (WHO). While in conversation with the lead person, Garima Dutt, CSR, GlaxoSmithKline, she says, “All stakeholders need to benefit, either in knowledge gain or project impact. At the same time, volunteering is a great key for Individual Social Responsibility. It is crucial for purpose to become larger than area of operation.”

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