WHAT IS CORPORATE SOCIAL RESPONSIBILITY?
Corporate social responsibility (CSR) is a business model that allows for-profit organizations to use their resources to benefit society while still pursuing their corporate goals. In other words, CSR is when companies allocate resources and actively contribute to society’s betterment while striving to achieve their organizational objectives. The strategic approach of CSR is embraced by profit-driven enterprises worldwide. The aim is to make a positive difference in society by helping to make the world a better place while still making money.
IMPORTANCE OF CORPORATE SOCIAL RESPONSIBILITIES
While CSR is a BIG step by companies to make a powerful change, let’s be frank, it also means an enhanced overall reputation. For companies, it is also a powerful statement through which they convey what they stand for. It helps its employees, people and the company itself contribute to something bigger than its own needs. CSR also gives employees a sense of belonging. It strengthens the bond among employees and attachment towards the organization as well.
Corporate social responsibility goes a long way in creating positive word of mouth around the organization as a whole. It plays a great role in making brand publicity. When people hear about CSR activities by a company, they intuitively develop a positive feeling for the brand. They tend to lean towards brands that take a stand. 2% might sound like a small amount, but large companies generate profit in crores. It is a huge contribution and brings about a big change towards the welfare of society and the development of the country.
COMPANIES IN INDIA DOING CSR ACTIVITIES IN INDIA
ITC
ITC’s CSR projects, which employ a Two Horizon approach, are spread across 27 States/Union Territories, reaching over 300 districts. Their initiatives include social forestry, water stewardship, biodiversity conservation, climate-smart agriculture, women’s empowerment, education, and waste management.ITC has helped to educate more than 252,000 children through the establishment of 2,335 Supplementary Learning Centers. Additionally, they have empowered approximately 15,380 women via 1,180 self-help groups.
Tata Power
Tata Power, a leading Indian electricity company, has taken up the noble cause of empowering women in the Kutch region of Gujarat. The company has initiated a program that provides assistance to self-help groups formed by women by offering financial aid and loans. Through this program, women are provided with the necessary capital to fulfill their various needs such as housing, purchasing cattle, starting and expanding their businesses, education, marriage, and medical expenses. This initiative by Tata Power aims to boost the economic and social status of women in the region, enabling them to become financially independent and self-sufficient.
Infosys
Infosys has been a pioneer in adopting Corporate Social Responsibility (CSR) initiatives. The company has undertaken various projects aimed at improving social, economic, and environmental well-being. One such project is the restoration of water bodies in Karnataka, which aims to conserve and rejuvenate water resources. Additionally, Infosys has partnered with Bangalore Metro Rail Corporation Limited to construct metro stations in the city. The company has also made significant contributions to sports development in the country through its GoSports Foundation. Infosys’ CSR efforts also include a relief fund for Tamil Nadu, Karnataka, and Kerala, which supports disaster management and rehabilitation efforts in these states. Overall, Infosys is committed to making a positive impact on society through its CSR initiatives.
Reliance
Demonstrating a steadfast commitment to building vibrant communities, the company’s CSR policy aligns with the Companies Act 2013, outlining core developmental areas of focus. The Rural Transformation program, ‘Health for All’ initiative, education initiatives, and disaster management efforts showcase Reliance’s holistic approach to societal well-being.
Reliance Industries Limited has taken up a noble initiative to secure the lives of villagers in Balangir district. They have introduced a life insurance program for them, which is a commendable step towards providing financial security to the underprivileged. The ‘Education for All’ initiative launched by Reliance aims to provide quality education to everyone in India, regardless of their social or financial status. Reliance also works to protect the right to education of underprivileged children, girl-child and differently-abled people. Moreover, they have made significant contributions to disaster relief funds.
Tata Steel
For a century, Tata Steel has been dedicated to the social progress and welfare of the state of Jharkhand. The company’s CSR committee strives to enhance the quality of life of the local communities it serves by improving their social and economic conditions. In 1991, Tata Steel launched “Lifeline Express”, a unique hospital on wheels that travels to remote areas of India to provide medical care to those in need. Additionally, the company has conducted multiple awareness programs on AIDS to educate and inform people about the dangers of the disease.
AMUL
Amul has been actively involved in contributing to rural health and development through its Tribhuvandas Foundation. In addition, they have established the Swarnjayanti Gram Swarozgar Yojana, which is a comprehensive self-employment program in the Kheda district. They have also successfully organized tree plantation drives, blood donation camps, and rural sanitation programs. Furthermore, Amul offers scholarships through its Amul Scholar schemes to support education in rural areas.
Cafe Coffee Day
Cafe Coffee Day, a popular coffee chain, has taken a commendable step towards equal employment by employing 50 speech and hearing-impaired people across their outlets as staff. In an effort to empower differently-abled individuals, they have named their employees the ‘Silent Brew-masters’. The company has also partnered with NGO Enable India to further support the cause. Cafe Coffee Day’s biggest Corporate Social Responsibility initiative is the SVGH Vocational Training College in Chikmagalur, Karnataka.
P&G
“Shiksha – Padhega India, Badhega India” is an essential part of Procter & Gamble’s corporate social responsibility (CSR) program. The initiative aims to provide underprivileged children with access to education, and to date, it has helped around 280,000 children to realize their right to education. As part of this program, Procter & Gamble has supported the construction of over 140 schools across India.”
Dabur
Dabur is a leading consumer goods company that has secured the seventh position on The CSR Journal’s list of top companies for CSR in India in 2023. Since 1994, Dabur has been actively involved in community development activities, based on the principles of inclusive growth.
The company’s projects, such as “Swasthya Aur Suraksha” and “Project Poshan,” focus on health, nutrition, and well-being among underprivileged girls and vulnerable children in urban slums. Through these initiatives, Dabur promotes safe and nutritious food, kitchen gardens, health camps, self-defense training, and nutrition awareness.
Dabur also supports the Madari community by organizing awareness camps and facilitating workshops on personal safety. In addition, the company’s “700 Se 7 Kadam” program provides clean sanitation facilities in rural India.
Dabur’s commitment to healthcare includes organizing health camps, supporting the prevention, diagnosis, and treatment of traumatic brain injury, and contributing to the Azadi ka Amrit Mahotsav with 750 mega Health Camps.
Overall, Dabur’s CSR initiatives reflect a holistic approach that encompasses health, education, and community development. These initiatives align with the company’s vision of being a business with a heart and soul.
State Bank of India (SBI)
SBI, the State Bank of India, has been ranked second in recognition of its outstanding Corporate Social Responsibility (CSR) efforts across various domains such as healthcare, environment, livelihood development, women empowerment, and heritage preservation. SBI’s unwavering commitment to social causes is reflected in its various initiatives like supporting medical facilities, promoting renewable energy, contributing to disaster-affected regions, and aiding women’s skill development. These initiatives are a testament to SBI’s dedication to a broad spectrum of social welfare causes.
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