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Committed to advancing green initiatives, we aim to drive sustainability and environmental responsibility for a brighter, cleaner future.
Enhancing community well-being through dedicated development programs that foster social inclusion and economic advancement for all.
Driving forward Sustainable Development Goals with impactful projects that focus on social equity, environmental protection, and economic growth.
Here are some of the most frequently asked questions about Corporate Social Responsibility (CSR) and Corporate Environmental Responsibility (CER).
A company satisfying any of the following criteria during the immediately preceding financial year is required to comply with CSR provisions specified under section 135(1) of the Companies Act, 2013 read with the Companies (CSR Policy) Rules, 2014 made thereunder: (i) net worth of rupees five hundred crore or more (ii) turnover of rupees one thousand crore or more (iii) net profit of rupees five crore or more.
The Corporate Social Responsibility Committee shall (i) formulate and recommend the CSR policy to the Board; (ii) recommend the amount of expenditure to be incurred on CSR activities; (iii) monitor the CSR policy of the company from time to time; and (iv) formulate and recommend to the Board, an annual action plan in pursuance of its CSR policy, which shall include the items as mentioned in rule 5(2) of the Companies (CSR Policy) Rules, 2014. For companies covered under Section 135(9) of the Act and not required to have CSR Committee, these functions shall be carried out by the Board itself.
CSR is a Board-driven process, and the Board of the company is empowered to plan, decide, execute, and monitor the CSR activities of the company based on the recommendation of its CSR Committee. The CSR architecture is disclosure-based and CSR-mandated companies are required to file details of CSR activities annually in MCA21 registry. Companies are required to make necessary disclosures in the financial statements regarding CSR including non-compliance.
The spirit of the Act is to ensure that CSR initiatives are aligned with the national priorities and enhance engagement of the corporate sector towards achieving Sustainable Development Goals (SDGs). Thus, the preference to local area in the Act is only directory and not mandatory in nature and companies need to balance local area preference with national priorities.
The purpose of impact assessment is to assess the social impact of a particular CSR project. The intent is to encourage companies to take considered decisions before deploying CSR amounts and assess the impact of their CSR spending. This not only serves as feedback for companies to plan and allocate resources better but shall also deepen the impact of CSR.
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