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  • ICSI unveils Stewardship Principles after COP30

    ICSI unveils Stewardship Principles after COP30

    Institute of Company Secretaries (ICSI) has launched guiding principles on stewardship to embed environmental, social and governance (ESG) practices in corporate strategies, building on commitments from the COP30 climate summit in Brazil.

    The ICSI Guiding Principles on Stewardship (IGPS) promote responsible asset management for long-term value, with adoption mandated by the International Financial Services Centres Authority (IFSCA) for fund managers and institutional investors in India’s financial hubs. The principles shift focus from short-term gains to sustainable growth, urging stewards to demand robust ESG frameworks.

    Complementing the IGPS, ICSI released a Stakeholder Engagement Toolkit on ESG this year to help company secretaries and boards craft comprehensive policies. It also introduced the ICSI Principles on Climate Change Governance (IPCG), offering metrics and targets for transparent climate disclosures.

    “Integrating climate considerations into business requires well-crafted principles, detailed guidance and equipped professionals,” ICSI President CS Dhananjay Shukla said. “As a leader in best practices, ICSI delivers through these initiatives.”

    ICSI Secretary CS Asish Mohan added: “In a climate-challenged world, we leverage investors and stewards for principles-based governance supporting sustainable development.”

    The moves align with global pushes for climate finance and multilateral action, as nations at COP30 pledged new tools to combat warming.

  • India’s CSR-1 Overhaul: New Rules Lock in Transparency for NGOs

    The reforms aim to enhance transparency, prevent fund misuse, and boost confidence in India’s CSR ecosystem.

    India’s updated CSR-1 requirements, effective July 14, 2025, mandate NGOs, trusts, and Section 8 companies to register via a fully web-based CSR-1 eForm on the MCA21 portal to implement corporate CSR projects.

    Eligible entities—public trusts, societies, Section 8 companies, or government bodies with valid 12A/80G registrations—must provide entity type, registration date, address, PAN, key office bearers’ details, and proof of eligibility. The shift from PDF to real-time web filing eliminates physical uploads, ensuring faster approvals and better record-keeping.

    Approved entities receive a unique CSR registration number, enabling them to access corporate CSR funds. The reforms aim to enhance transparency, prevent fund misuse, and boost confidence in India’s CSR ecosystem.

  • Reliance Industries spends Rs 813 crore on CSR activities in 2021-22 fiscal

    Reliance Industries spends Rs 813 crore on CSR activities in 2021-22 fiscal

    Of which, about Rs 222 crore was spent on the Mission Covid Suraksha.

    Reliance Industries spent Rs 813 crore on corporate social responsibility (CSR) activities during the 2021-22 financial year, with maximum funds for promoting health and medical relief initiatives.

    Of which, about Rs 222 crore was spent on the Mission Covid Suraksha. About Rs 114 crore was spent on preventive and public healthcare initiatives in Maharasthra, and Rs 109 crore on medical relief in Gujarat and Maharasthra. It also spent Rs 142 crore on promotion of education in Maharasthra.

    “During the year under review, the company spent Rs 813 crore (around 2.21 percent of the average net profits of last three financial years) on CSR activities,” the company said in its annual report.

    Reliance Industries said the three core commitments of ‘Scale, Impact and Sustainability’ formed the bed-rock of the company’s philosophy on CSR initiatives.

    CSR initiatives are being focused in the areas of Rural Transformation, Health, Education, Environment, Arts, Heritage & Culture and Disaster Response.

    The company supported national initiatives like Gram Uday Se Bharat Uday Abhiyan, Unnat Bharat Abhiyan, Swachh Bharat Abhiyan, Poshan Abhiyan, Jal Shakti Abhiyan, Sabki Yojana Sabka Vikas, Skill India Mission, Digital India and Doubling Farmers’ Income.

    The company further said it adopted a multi-pronged approach to address the COVID-19 pandemic. The company supported initiatives on healthcare, medical oxygen supply, emergency meal distribution, supply of free fuel, masks and awareness creation.

    Over 8.5 crore meals provided under Mission Anna Sewa; over 1.4 crore masks were distributed under Mission COVID-19 Suraksha and free fuel support was provided to over 70,000 emergency vehicles.

    Medical oxygen production was ramped up from zero to 11 percent of India’s treatment needs for meeting the requirement of over one lakh patients every day. This was supplied free to several state governments.

    Over the past decade, the company has focused on several CSR programs. The CSR initiatives under the leadership of Nita M. Ambani, Founder and Chairperson, Reliance Foundation, have touched the lives of more than 5.75 crore people covering more than 50,600 villages and several urban locations across India.

    The CSR initiatives of the company have won several awards including Golden Peacock Award for Corporate Social Responsibility 2021, CII DX Award 2021 under ‘Innovation in CSR through Digital Transformation,’ Award for Corporate Leadership in ESG (Environmental, Social & Governance) from The CSR Journal- Excellence Awards 2021, World Summit Awards 2021 for providing digital solutions through its Machli App and the Best Vaccine Programme by a Private Hospital at the India Today Healthgiri awards among others.