Corporate Social Responsibility (CSR): India
This is a collection of articles archived for the excellence of their content. |
Types of CSR
Oil companies serve the Himalayas
Sanjay Dutta, Oil cos' CSR gets Himalayan flavour, March 27, 2017: The Times of India
Globally , oil companies are known to prefer baking the earth for profit. But in India, Prime Minister Narendra Modi's Swachh Bharat (Clean India) campaign is driving them to the Himalayas -sometimes even outside the country's boundaries -in search of corporate social salvation.
From launching expeditions to cleaning up major sources of water, creating public conveniences and specialised medical facilities for tourists and innovative underground cellars for vegetables, public sector oil companies are spending part of their profit to help preserve the pristine Himalayas and improve people's lives.
And just as in mountaineering, there appears to be an unsaid competition among the biggies on getting higher. If refiner-marketer IndianOil is building public toilets in Leh and setting up a specialised medical facility atop Khardung La -at 5,359 metres the world's highest motorable pass, explorer ONGC intends to put a team of young executives atop Mt Everest and bring back garbage for proper disposal from various camps along the summit route.
The Everest expedition is ONGC's latest Himalayan venture with the Indian Mountaineering Foundation and puts `adventure' firmly in the CSR (corporate social responsibility) lexicon. Oil minister Dharmendra Pradhan is expected to flag off the 12-member expedition team this week.
The expedition will scale Everest from the Nepal side and bring back to the Base Camp garbage from camps along the summit route.From the Base Camp, the garbage will be flown to Kathmandu for proper disposal. In that sense, the expedition will take Modi's swachh message beyond the country's boundaries. Not to be left behind, Indian Oil has chosen the high latitude region of Ladakh, where it claims to operate the world's highest petrol pumps.According to Leh deputy commissioner Prasanna Ramaswamy G, the fully-equipped medical facility atop Khardung La -a popular haunt of tourists -will be a life saver in the coming season. Each year, several tourists succumb to illness induced by high altitude in the absence of oxygen supply or medical aid.
Underground storage for vegetables is a unique venture touching the lives of villagers. Vegetables become scarce, or beyond the reach of ordinary people, as these are flown in, in the harsh winters.The underground cellars prevent the temperature from dropping below a certain point, allowing villagers to preserve vegetables for consumption in the winter.
2014-15: Rs 5,240 crore spent on social activities
The Times of India Jan 07 2016
India is the only country in the world where corporate social responsibility is mandatory. Companies with a net worth of 500 crore or turnover of 1,000 crore or net profit of 5 crore must spend at least 2% of their average net profits of the past three years on CSR. In 2014-15, the first year of compliance, the stipulated companies reported spending 5,240 crore on social activities, though not everyone among the top 100 listed companies, including 21 PSUs, met the minimum spend norm
