Home CATEGORIES Business Ethics & Philanthropy Marico Spent Rs 22.32 Cr. on CSR in FY22

Marico Spent Rs 22.32 Cr. on CSR in FY22

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CSR of Marico Limited
 
Marico Limited spent a total of Rs 22.32 crores on community development initiatives during the FY 2021–2022. The Company’s CSR programmes were launched either directly or in collaboration with NGOs, authorities, and other partners. According to section 135(5), the company was obligated to spend Rs. 21.70 crores on CSR.

CSR of Marico Limited

Marico’s CSR strategy is based on its declared core mission of improving the lives of all its stakeholders in order to enable them to realise their full potential. Marico’s stated purpose is to “Make a Difference.” The company is committed to the interdependent ecosystem made up of many stakeholders and thinks that economic value and social value are intertwined.
Marico’s CSR programs include supporting community initiatives in the areas of education, health care, particularly preventative health care, economic empowerment, farmer livelihood enhancement, and water stewardship.

CSR Initiatives of Marico Limited

1. Kalpavriksha Program

The Parachute Kalpavriksha Foundation is the flagship initiative of Marico Limited. The initiative was launched in 2017 to make a difference in the lives of the farming community. The Parachute Kalpavriksha Foundation is focused on helping our agricultural partner improve their productivity, livelihood, and overall quality of life by supporting farmers beyond traditional agricultural practices. The Foundation operates to integrate sustainability in farming practices by training the farmers in various aspects of farm management. Moreover, under this program, farmers undergo training in scientific and research-based agricultural practices, which further leads to productivity and income improvement. The overarching aim is to equip the farming community with the steps to drive lasting change in their lives.
The program has over 2.55 Lakh acres and 62,900 farmers currently enrolled with it. The initiative has led to a 15% enhancement of their productivity rates in FY22. The aim of the program is to cover a total of 4.05 acres and impact over 1.16 Lakh farmers, reaching a productivity enhancement rate of 16% by FY25.

2. Jalashay

Marico’s water stewardship program, ‘Jalashay,’ focuses on replenishing more water for the community than that consumed in its own operations, year-on-year. In a country that experiences disproportionate rainfall throughout the year, it is important that we identify the environmental, social, and economic concerns that might emerge out of water stress and make conscious efforts towards abating them. The objectives of the program are to promote effective conservation and management of water across the country and to replenish more water back to the community than that Marico uses for its operations by capacity creation.
In FY22, under the program, the company constructed 246 ponds, increasing the water storage capacity by 47.7 crore litres across various states.

3. Nihar Shanti Paathshala Funwala

As one of Marico’s signature brands that keeps purpose at the centre of its existence, Nihar Naturals has always focused on education and skill empowerment in alignment with its overall value proposition.
Initiated about four years back, the Nihar Shanti Pathshala Funwala program is focused on upskilling and empowering government school teachers to resolve the pressing issue of lack of consistency, and fluency in English Literacy, within the Indian education system. The program intends to increase the proficiency level of reading and speaking capabilities among students from underserved areas. Over the years, contextualised content and comprehensive training processes have improved the teachers’ subject-matter knowledge and enabled them to engage better with the students. The accessibility of digital learning resources has enhanced the learning environment for students.

4. Nihar Skills Academy

The Nihar Skills Academy was launched on September 25, 2021, as the next milestone towards deeper implementation of the brand purpose. Literacy is not just restricted to education but also broadens to the concept of skills, which comprises technical expertise, vocational skills, transferable skills, digital skills, and other such knowledge and abilities required for employment and livelihood. To address this and contribute to India’s share of the employable workforce of tomorrow, the brand ‘Nihar’ collaborated with 3 implementation partners in FY22 to impart skill-based education, followed by placement opportunities to women and the youth of the country.

5. Marico Innovation Foundation

Marico Innovation Foundation’s vision is to identify hidden, potential game-changing innovations and help them rapidly scale up in India. Over the past 19 years, MIF has grown to be a torchbearer of driving change in the Indian startup ecosystem, having been associated with more than 100 Indian innovations through various programs and themes that cut across the various clauses of Schedule VII under the Companies Act. MIF aims to nurture social innovation in India in a way that futureproofs the country’s transformational agenda in terms of scale, growth and impact.