Swaithes highlights that taking human impact into account is key to ensuring that sustainability is an integrated part of corporate decision making.
Majumdar said HSBC prefers partnering with local NGOs for implementation of the programmes on a milestone-based approach.
Strategic CSR becomes critical for both maintaining/increasing shareholder value and doing good at the same time.
There is no doubt that manufacturing is essential for growth and an increase in jobs, at the same time manufacturing with responsibility is more the need of the hour.
Only about 18% of all companies surveyed met the mandatory 2% spending norm. Not a single services company features in the Top 10.
Mishra believes it makes business and economic sense for the organisations to form partnership and achieve the joint agenda of social development in an area of their choice.
48 companies spent a combined Rs 4,252 crore during FY 2015. This is a mere 1.6% of the standalone net profit earned by Nifty companies for the fiscal.
The government expects total spending in the first year to top Rs 9,000 crore and rise substantially in coming years, a government official said.
Nearly two-third of the top listed companies have failed to spend the minimum 2 per cent of profits on social responsibility activities in the first year.
Considering the essential nature of this industry it is imperative to look at key issues that automotive companies need to worry about.
"It's interesting, because there's a sense that 'social' finance is a very new phenomenon, almost synonymous with the coining of the term 'impact investing' in 2007."
Companies work with or pay NGOs, schools or hospitals. Some like Infosys, HDFC, ICICI and Hindustan Lever have started their own foundations.
Unlike the manufacturing sector it does not naturally cause emissions, however the world of finance impacts almost everything in the modern world.
In typical CSR you donate money. In Tata’s kind of CSR you invest in something that you believe is a good cause, says Samir Bhatia, SMECorner.com.
Rather like an efficient office manager, hers is a detailed hands-on engagement with the nitty-gritties of the task at hand.
The study says there is an increasing level of maturity across reports and leading companies are "being spurred on by peers to cultivate a culture of transparency".
Copyright © 2020 Bennett, Coleman & Co. Ltd. All rights reserved. For reprint rights: Times Syndication Service