ICICI Securities is India’s leading integrated technology-based securities firm, offering holistic financial solutions and services to Indians seeking seamless access to the world of finance. ICICI Securities offers a large bouquet of services, including retail and institutional broking, financial products distribution, private wealth management, as well as an issuer and advisory services. As one of the pioneers of the e-brokerage business in India ICICI Securities operates www.icicidirect.com, India’s leading virtual financial supermarket. Through this platform, it successfully keeps its customers anchored to the financial framework across the areas of investment, protection and borrowing.
ICICI Securities is a responsible integrated securities firm that incorporates ESG into all its business operations. The Company does not claim to be an ESG-focused business, but rather one that employs ESG principles in its core values and business practices.
1. CSR of ICICI Securities
ICICI Securities is strongly committed to the communities they serve, in practically every part of the country, seeking to deliver significant, CSR-led effort that results in a meaningful impact Therefore, all of the Company’s CSR actions are framed, designed, and performed with a precise focus on its target beneficiaries. The company undertakes most of its CSR programs through ICICI Foundation. The main focus areas of the Company’s CSR initiatives include: skill development, healthcare, empowering women, fostering entrepreneurship, livelihoods, and senior citizen welfare.
2. Skill Development Initiatives
ICICI Foundation for Inclusive Growth has set up the “ICICI Academy for Skills” that provides free skill development training to the lesser privileged youth. The objective is to help create a sustainable livelihood for the lesser privileged urban youth through imparting vocational skill development training courses which are National Skill Development Corporation (NSDC) aligned, About 7700 youth got trained during the year, of which 89.6% were placed. An impact assessment study was conducted with the help of an external agency to assess the impact generated through the skill development CSR project of FY21. The impact of the programmes was analyzed in four key areas: inclusiveness, relevance, the impact created and service delivery.
The Company also trained needy youth to be care givers through Age Ventures India.
2. Healthcare Services
2.1 Cancer Support
ICICI Securities has extended critical support to more than 200+ needy cancer patients with TATA Memorial Centre, a National Comprehensive Cancer Centre and a Grant-in-Aid institute under the administration of the Department of Atomic Energy, Government of India. It has also engaged in projects wherein it has provided support for medical equipment and patient transport, for The Homi Bhabha Cancer Hospital and Research Centre in Mullanpur, Punjab.
In addition to that, the Department of Atomic Energy, as a part of the Aazaadi ka Amrit Mahotsav initiative, are using the Company’s vehicles to conduct an outreach camp, where over 1500+ women have been screened for Early detection of Cancer during this initiative. This initiative has not only provided new hope to the patients but also facilitated huge financial and psychological relief for patients as well as their families.
2.2 COVID-19 Support
ICICI Securities extended support through the availability of medicines and medical equipment for treatment support of COVID patients at the Government Hospitals in Mumbai in collaboration with THE EKAM FOUNDATION, Mumbai. Around 3000+ patients benefited from this initiative, as it helped in bringing in critical lifesaving arrangements during the COVID 19 pandemic which was scarce at that moment.
In continuation to provide COVID-related support, an initiative of the Foundation of Innovation and Research in Science and Technology (FIRST), IIT Kanpur, 60 oxygen concentrators and 16 oxygen plants were developed and installed at different government hospitals across the country including 5 different Border Security forces hospitals under the Company’s Mission Bharat O2.
The Company supported the installation of Oxygen plants in Border Security Force hospitals located across 5 cities. This project was implemented through ICICI Foundation. The Company’s ESG Report quotes, “the Border Security Force plays a vital part in the country’s security matrix, aiding both the Army and the Civil Administration in managing different insurgencies. ICICI Securities is privileged to associate with the Border Security Force.”
2.3 Free Surgical Treatment
ICICI Securities supported last mile surgical treatment for 280 needy children from underprivileged socioeconomic strata through EKAM FOUNDATION. This not only gave a new ray of light for the children but also brought in the possibility for them to continue leading a normal life with education and developmental activities for their future.
2.4 Cataract Surgeries
The Vision Foundation of India provides free cataract eye surgery to needy senior people from low socioeconomic backgrounds. ICICI Securities partnered with the foundation to extend these services for the communities and administer surgeries for 1250 senior citizens in collaboration with The Vision Foundation, India.
3. Contributions to Incubators for support to Startups and Research and Development projects
ICICI Securities aims to foster entrepreneurship that will help in creating livelihood opportunities and encourage start-ups to work on innovation, research and development through CSR projects for the benefit of the community and expanding its knowledge and opportunities for them to build better.
3.1 Society for Innovation and Entrepreneurship (SINE)
Society for Innovation and Entrepreneurship (SINE) is an IIT Bombay-based non-profit Technology Business Incubator (TBI). ICICI Securities has collaborated with SINE to assist a few projects with potential social effects, mainly focusing on health care. This relationship will facilitate the start-up incubation with SINE, therefore fueling India’s health start-up culture. The Company supported SINE incubate start-ups, focus on R&D of finding new solutions for health conditions that include cancer, Parkinson’s Disease, rapid testing of mosquito-borne diseases, prosthesis limb having senses, metabolomics data analysis, upper limb splints etc. with a potential of creating large and beneficial social impact in the health sector.
3.2 Foundation for Innovation and Research in Science and Technology (FIRST)
ICICI Securities contributed to the Foundation for Innovation and Research in Science and Technology (FIRST), the Indian Institute of Technology (IIT) Kanpur’s Technology Business incubator. With this initiative, the Company aims to deliver innovative health solutions for communities who have limited access to health care services in remote locations.
4. Inclusive Society
ICICI Securities believe that sustainable growth emerges from a balanced approach to profits, people, and the planet. The Company operates its business in a responsible and sustainable manner to achieve long-term value for the community as a whole. It is also focused on developing our people so that they can generate value for the Company and their ecosystems while experiencing meaningful lives.
4.1 Project Hameri
This initiative intends to empower women living in the Corbett landscape at Uttarakhand in India by assisting them in generating income, ensuring their support for conservation, and maintaining a long-term relationship with the surrounding natural resources. ICICI Securities has leveraged the skills of young talented women who wish to transform their lives and contribute to the country’s economic prosperity through this project. The Company also attempted to address the sensitive issue of gender discrimination. Given women’s considerable involvement in the agricultural workforce globally, empowering them is critical not just to the well-being of people, families, and rural communities, but also to overall economic output. Around 500+ women got benefitted from this initiative and continue to develop their skills and expertise to acquire knowledge and generate their own sustainable livelihood.
4.2 Leh Old Age Home
The Company believes that the elderly have a lot to contribute to the development of society through their experiences and wisdom. However, their well-being and engagement are often overlooked which causes a sentiment of isolation and mental stress for the elderly sections of society. ICICI Securities has taken steps to protect the vulnerable group of the lonely aged and elderly by building homes for them that meet their basic needs through HelpAge India. Through this project, ICICI Securities has made individuals happier and more contended since they know they are cared for. In the homes, they also find opportunities to engage with like-minded people and share stories, take part in various activities and bring positive change for themselves and society. This ensures their well-being both physically and mentally.
5. Environment Conservation
5.1 Villupuram Tree plantation initiative
CICI securities supported in planting a total of 15,000 trees in Tamil Nadu’s Villupuram district. The plantation area includes 30 villages and around 850 Irula Tribal community homes. Saplings were chosen based on the ecological conditions and the success percentage of the native species thriving there. The plantation activity will help create assets for the Irula Tribal community, improve the water table, reduce topsoil erosion, increase carbon sequestration potential, improve wildlife habitat, generate local employment through household-level participation in project implementation and monitoring, and aid in ecosystem improvement.
5.2 A buzz of Hope: Bee Keeping practice
There has been an enormous decline in the indigenous population of natural pollinators as a result of habitat loss and increased use of insecticides and pesticides. The need to maintain honeybees is more important than ever as they play an important role in preserving the delicate and rich mountain biodiversity. The CSR pilot project of ICICI Securities intends to provide favourable conditions for indigenous honeybee species to thrive while also contributing to sustainable rural development efforts and the restoration of ecological balance.
Conclusion
ICICI Securities has been relentlessly contributing to the development of communities through its CSR initiatives. The Company spent about Rs. 20 Crores on its Corporate Social Responsibility programs, impacting the lives of over 2 lakh beneficiaries in FY 2021-22.
