CSR news digest – 005
1. Government launches National CSR Data Portal & Corporate Data Portal.
The Union Ministry of Corporate Affairs (MCA) has launched National CSR Data Portal & Corporate Data Portal for bringing accountability and transparency for corporate India. The portals aim to provide easy accessibility to general public and also ensure high level of compliance. It will also help in institutionalising and consolidating the CSR activities.
The National CSR Data Portal will act as a one-stop platform for dissemination of information on CSR expenditure made by companies, while the Corporate Data Portal aims to make all the financial and non-financial information of the companies available to the general public in a user-friendly format.
2. CSR initiatives that make your employees proud and happy
By integrating the social, economic and environmental improvement it gives a holistic and sound impression of an organization and also helps its employees to be part of a greater cause. Research shows that those companies that implement CSR practices successfully are known to have positive employee relations including recruitments, employee morale, engagement and productivity. It is important that CSR initiatives focus on employee giving, community partnerships, local involvement, philanthropy and volunteerism. Volunteerism is known to improve a given individual’s psychological well-being and this can only lead to employees feeling happier and a sense of pride in the work they do
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3. Top 100 Indian companies should allocate 10% of profits towards, says Narayana Murthy
Infosys co-founder NR Narayana Murthy has urged the top 100 Indian companies to allocate 10 percent of their profits towards corporate social responsibility with a focus on areas like public health, nutrition, science and research and education.
4. 187 companies face penal action for CSR violations: PP Chaudhary
Ministry of Corporate Affairs has accorded permission for penal action… for 187 companies for the financial year 2014-15 for violation of the CSR provisions,” the Minister of State for Corporate Affairs said in a written reply to the Lok Sabha last Friday.
5. Gender Mainstreaming of Indian Corporate Governance Laws
The gender mainstreaming of Indian corporate governance laws is analysed in relation to recent legislative reforms concerning corporate social responsibility mandates, the one-woman director requirement, gender wage equality and maternity benefits. This article addresses the efficacy of laws and policies mandating CSR, board inclusivity, wage equality and maternity benefits in recognising women as stakeholders in Indian corporate governance structures.
6. Social work courses see rising interest
As companies move beyond business transactions to give back to the community in more meaningful ways, some foreign educational institutions are reporting a spike in the number of Indian students who opt for social work courses. Some European universities contacted by ET said social work courses are becoming important due to companies’ CSR (corporate social responsibility) spending rules.
A recent Nasscom foundation report points to a rise in
industry CSR spending, with over 60% of the surveyed
companies reporting 100% utilisation of CSR funds.
7. Value Investing! ESG linked investments in India likely to touch $240 billion in 10 years
The acceptance for responsible investing is gaining ground. According to the 2014 Nielsen Global Survey of Corporate Social Responsibility, more than half of consumers surveyed globally said they would be willing to pay more for products and services from companies committed to positive social and environmental impact.
Two-thirds said they would prefer to work for a socially responsible company. When it comes to investing, a recent Morgan Stanley survey found 71% of respondents indicated they were interested in sustainable investing.
8. Corporate India Commits to its Social Responsibilities.
The IiAS study of the FY17 Corporate Social Responsibility (CSR) initiatives and disclosures of the S&P BSE 100 companies reveals that companies are taking their CSR initiative seriously and measuring and disclosing the impact they are having.