12 Companies, CSR Foundations and NGOs walk with 3rd CSR Impact Awards
By NGOBOX
October 4, 2016
12 companies, CSR Foundations and NGOs walk with 3rd CSR Impact Awards for high impacts through CSR
Mumbai, 27th Sep 2016:
The India CSR Outlook Report 2016 was launched on the day one session of India CSR Summit and CSR partnerships Exhibition 2016, an annual CSR event hosted by NGOBOX and co-hosted by National Green Highway Mission, NHAI. The inaugural session’s Guest of Honour was Samir Somaiya, MD & Chairman of Godavari Biofertilizers and Somaiya Group. Also, Tata Housing’s MD & CEO Brotin Banerjee, Piramal Foundations’ Head, Paresh Parasnis and Reliance Foundation’s COO Jitendra Kalra who launched the India CSR Outlook Report 2016. According to the report, Top 10 companies have together spent Rs 3350 Cr in CSR while their prescribed CSR was Rs 3064 Cr. National Skill Development Corporation was the associate partner of the event and Google for Nonprofits is Digital India partner. The report provides interesting insights not only about the spending pattern but also tabulates it across industry segments (banking, IT, oil & Gas etc.) thematic sectors (education, healthcare, women empowerment etc.) and geographies (states where CSR spending happened). The CSR Outlook Report is an analysis of CSR spending of Bombay Stock Exchange (BSE) listed 250 companies.
There is substantial improvement in the actual CSR spend to prescribed CSR in FY 2015-16. it has increased to 92% from 79% in 2014-15. ICOR reports that Top 10 companies have together spent Rs 3350 Cr in CSR while their prescribed CSR was Rs 3064 Cr. This is almost 9% more than what the Section 135 asks for. Automobile sector has been a major player in the CSR spending with 100% CSR funds utilized. They were followed by Petrochem and IT sectors. This year there has been a trend shift from traditional CSR activities like Poverty Alleviation and Rural development to Promoting new ideas like rural sports, Benefits to armed forces etc. Mr. Bhomik Shah, CEO and Founder of NGOBOX adds '‘We see a lot of improvement both at quantitative and qualitative fronts in CSR spend. Companies have started partnering with several NGO’s to promote sports to the rural population. In 2015-16, five companies, among the top 10 listed companies have spent more than the prescribed CSR. This raises the bar for other companies to invest more in CSR projects. While in 2014-15, there were 3 companies who had not spent any single penny from the prescribed CSR budget, however in 2015-16 all companies have spent certain amount from the CSR budget. This shows the trend that companies have become serious about the CSR and they are ready to match the prescribed CSR requirements with the actual CSR spend. 58% of the companies have spent exactly as prescribed or more than the prescribed, it shows an upward trend in the CSR compliance level.
Day 2, witnessed the 3rd edition of The CSR Impact Awards, an initiative of NGOBOX and supported by NextGen, to encourage companies, CSR foundations and CSR implementing agencies to deliver high impacts through CSR projects and adopt multi-stakeholder approach leading to excellence in project outcomes. The CSR Impact awards were given in 12 categories, like Livelihood, Education, Environment, Women Empowerment, etc. Tata Chemicals Society for Rural Development(TCSRD) won 2 awards in the Wash and Employee Volunteering segments, Other winners in various categories are Ultratech, Renew Power Pvt Ltd, Magma Fincorp. Humana People to People India, Biocon Foundation, CAIRN Energy, ICRISAT-JSW Energy, Cohesion Foundation, Jana Foundation and Dalmia Bharat Foundation.
Day 1 also saw panel discussions on varied topics like Skilling India, Green India Highways, and Empowering Women etc. The event was attended by over 160 companies’ CSR heads and about 400 nonprofits and social enterprise. 60 exhibitors including Google for Nonprofits, Voltas Water, and Charities Aid Foundation etc. took part in the India CSR Meet.
Day two of panel discussion saw very interesting topics like Leveraging Technology for Last Mile Healthcare Delivery and CSR Partnerships with NGOs Experiences, Learning and Future being discussed. Leveraging Technology for Last Mile Healthcare Delivery saw the discussion engaged in Leveraging technology to create low cost and customized solutions. What are the existing models and where we should focus? It also saw panel discussion on CSR Partnerships with NGOs Experiences, Learning and Future, topics like How does the government's focus affect the CSR priorities of the companies, How do companies identify their CSR Partners, what should they look for –scale, expertise, governance or community connection of the partners.
The ‘India CSR Outlook Report (ICOR), is an annual research publication of NGOBox, which highlights the various curves and developments in the CSR spending by big 250 companies listed on BSE or NSE. The first publication (published in 2015) was hugely appreciated by the various stakeholders and provided rich insights about the initiatives adopted and the course of direction taken by the companies. It was significant from the point that the Companies Act 2013 mandated certain companies to include CSR reporting as part of the annual report. The report of 2015-16 CSR also helps in understanding how companies have moved further to meet the compliances in CSR.
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