Category: News

Under the Act, CSR is a Board driven process and the Board of the company is empowered to plan, decide, execute and monitor CSR activities.

The CSR spending on the senior citizens’ welfare rose by 46 per cent to Rs 76.23 crore in the 2021-22 fiscal from Rs 52.33 crore in the 2019-20 fiscal, as per the government data.

Under the the Companies Act, 2013, the CSR is a Board driven process and the government does not issue any specific direction to the companies to spend in any particularl activity, Minister of State for Corporate Affairs Rao Inderjit Singh had said in a written reply to the Rajya Sabha last week.

 Schedule VII of the Act indicates the eligible list of activities that can be undertaken by the companies as CSR. Item No. (iii) of Schedule VII of the Act includes setting up old age home, day care centres and such other facilities for senior citizens.

 Under the Act, CSR is a Board driven process and the Board of the company is empowered to plan, decide, execute and monitor CSR activities of the company based on the recommendation of its CSR Committee.

NSNIS Patiala looking to get CSR partners for its coaching and sports science education program.

Sports Authority of India (SAI) has approved a proposal to expand the current Corporate Social Responsibility (CSR) initiative to SAI’s Academics and Coach Training Programs to further strengthen and support the growing demand from the sports environment in the country.

The proposal was approved during its 57th Governing Body Meeting (GBM), an official statement said.

Under the new initiative, Netaji Subhas National Institute Of Sports (NSNIS) Patiala intends to enter into CSR partnerships with organizations of repute for obtaining financial or operational support on various areas in academics.

CSR initiatives at NSNIS Patiala will aim towards offering courses in coach education, development of sports academics infrastructure, equipment for academic purposes and sports science equipment for labs, research in sports soaching and sports sciences (technical, tactical, and skill development aspects of coaching and training of athletes), capacity building for faculty, coaches and sports scientist.

NSNIS Patiala through CSR wants to focus on international faculty exchange/exposure (including travel arrangements), student internship programs.

It also wants to get other services in support of academics such as buses for transportation of the trainees of the institute; providing books for library, publication, Wi-Fi/technical support; providing manpower in terms of professionals/faculty/technical expertise; and any other facilities related to coach education and development program to develop quality manpower in the sports sector through its academic programs.

The above-mentioned support will also extend to SAI’s Regional Academic Centres at Bangalore, Kolkata, and Thiruvananthapuram, the statement said.

Focus of the fest is to motivate teachers by integrating ‘Theatre & Storytelling in education’. This will contribute to the country’s mission towards foundational literacy and numeracy (FNL), as well as building learning levels post-Covid.

Bharti Foundation will organise a 10-day long virtual “Teachers’ Summer Fest’ starting from June 21 across the country.

 The fest will be conducted on TheTeacherApp, a new tech-initiative by the Foundation. Over 4500 teachers have already downloaded the app from across the country, the Foundation said in a statement.

 The focus of the fest is to motivate teachers by integrating ‘Theatre and storytelling in education’. This will contribute to the country’s mission towards foundational literacy and numeracy as well as building learning levels post-Covid.

 Bharti Foundation CEO Mamta Saikia said, “Bharti Foundation has been relentlessly working towards making quality education available to the underprivileged children, especially girls. With many flagship programs, TheTeacherApp’s Summer Fest is another initiative towards our goal of ensuring quality education by empowering school learners, teachers and educationists. We aim to target 10,000 plus teachers across India.”

The government’s NIPUN (National Initiative for Proficiency in Reading with Understanding and Numeracy) Bharat Mission, launched in July 2021, aims to create an enabling environment to ensure the universal acquisition of foundational literacy and numeracy (FNL), so that every child achieves the desired learning competencies in reading, writing, and numeracy by the end of Grade 3, by 2026-27.

Bharti Foundation encourages teachers nationwide to seize this opportunity for personal and professional growth. By participating in Teachers’ Summer Fest, educators can engage in stimulating discussions, gain fresh insights, and contribute to a nationwide movement for transformative education.

The company plans to organise 100 camps throughout the country in a span of 6-8 weeks.

LG Electronics India today announced a nationwide mega blood donation drive throughout the country as part of its CSR initiative.

In a span of six to eight weeks, the drive will encompass 51 LG offices and aims to organize 100 camps throughout India in collaboration with various blood banks and various state & district hospitals, the company said in a statement.

The blood donation drive was inaguared by Shakti Mohan Awasthi, Additional Deputy Commissioner of Police, Noida, along with LG Electronics India Managing Director Hong Ju Jeon.

“In 2019 alone, we witnessed the remarkable response from over 5700 blood donors across India. We firmly believe that by coming together to donate blood, we have the power to make a life-saving impact on countless lives. Every drop of blood counts, and through this initiative, we are determined to inspire individuals to join us in this noble cause,” Jeon said.

The company will continue to drive this initiative in coming years by sensitising people. “Together, we can create a powerful ripple effect of compassion, unity, and hope for a healthier future.”

Under the core theme of “LIFE’S GOOD WHEN LIFE’S SHARED,” LG Electronics India plans to commemorate its 26 years of successful operations in India by executing meaningful interventions.

In 2019, LG Electronics India launched the blood donation drive across India at 71 locations, which garnered a remarkable response with over 5700 blood donors.

Building upon the achievements of the previous campaign, LG now aims to amplify its efforts this year by organizing 100 camps across the country. Through this mega blood donation drive, LG Electronics India seeks to raise awareness about the significance of blood donation and inspire individuals to actively participate in this noble cause.

The initiative will cover across 20 cities including Mumbai, Bangalore, Kochi, Chennai, Hyderabad, Lucknow, Varanasi, Patna, etc.

Private lender Axis Bank has kick started Clean-A-thon, a pan–India cleanliness drive across 25 plus beaches and water bodies and will continue till June 11.

 The initiative will cover across 20 cities including Mumbai, Bangalore, Kochi, Chennai, Hyderabad, Lucknow, Varanasi, Patna, etc., in collaboration with local NGOs, the bank said in a statement.

The aim to to emphasize the urgency of combating plastic pollution and promoting responsible waste management practices.

 The cleanliness drive will witness participation from Bank’s branch employees, local communities, environmental activists/influencers, local authorities and volunteers who will be collecting and disposing plastic waste from beaches and water bodies.

These volunteers will also educate the local people about the harmful effects of plastic pollution and how they can reduce the use of single-use plastics.

Speaking about the initiative Ravi Narayanan, Group Executive – Branch Banking, Retail Liabilities & Product, Axis Bank said, “We firmly believe that the responsibility to protect our planet lies with each one of us, and through this initiative, we aim to instill a sense of environmental consciousness and responsibility amongst fellow citizens.”

This initiative will add to several ongoing global efforts for a greener and more sustainable future, re-affirming our commitment to build a safe and healthier planet that we owe to the generations which follow us, he added.

rPET bottles are made from food grade recycled polyethylene terephthalate (PET). The use of rPET bottles not only conserves natural resources but also reduces the amount of plastic waste that ends up in the larger ecosystem.

Coca-Cola India today launched new bottles made from 100 percent recycled PET plastic material (rPET) in Andhra Pradesh. This is the first time in India that any bottle made with 100 percent rPET is being used for food/beverage.

 “The new rPET packaging is available for the company’s packaged drinking water brand, Kinley, in 1 litre bottles,” the company said in a statement.

The new bottle features a unique label displaying “100% made from recycled food grade plastic”, marking a major milestone for Coca-Cola in India in realizing its circular economy endeavours, it said.

This was possible only after the Food Safety Standards Authority of India (FSSAI) approved the use of recycled PET in food packaging, subject to adherence to their guidelines, after a thorough review of food safety, it added.

Enrique Ackermann, Vice President, Technical and Innovation, Coca-Cola India and Southwest Asia said, “We are proud to be the first beverage company in India to offer our consumers a sustainable choice of packaging, by launching Kinley bottles made from 100% recycled PET.”

In December 2022, Coca-Cola Bangladesh launched 100 per cent rPET bottles, making it the first market in the Southwest Asia (SWA) region to introduce Kinley water bottles in 2-liter packages. The Coca-Cola company now offers 100 percent rPET bottles in more than about 40 markets.

Aligned with its global commitment of creating a ‘World Without Waste’, the company has set a goal of using at least 50 percent recycled content in its packaging by 2030; working towards using more recycled content in its packaging.

The company has been working towards this goal for years and has made consistent progress in reducing the use of virgin plastic across its value chain globally.

Currently, 90 percent of the company’s packaging is recyclable while 15 per cent of PET used is recycled (rPET) across the globe. rPET bottles are made from food grade recycled polyethylene terephthalate (PET).

 When PET bottles are recycled, the plastic is recycled as per the technologies that are approved by US FDA and European Food Safety Authority (EFSA) for food grade recycled material, and reformed into new PET bottles, reducing the need for virgin plastic for producing PET Bottles.

The use of rPET bottles not only conserves natural resources but also reduces the amount of plastic waste that ends up in the larger ecosystem, the company added.

The two institutions will sponsor mega cultural festivals for three years across seven cities in India, starting with a weeklong festival in Mysuru from November 4.

Infosys Foundation, the philanthropic and CSR arm of Infosys, on Friday announced that it has signed a Memorandum of Understanding (MoU) with Bharatiya Vidya Bhavan (BVB) for the promotion of Indian visual and performing arts across India.

  Through this engagement, Infosys Foundation and BVB will provide a platform to over 4,500 beneficiaries, including 3,000 artists from underprivileged communities towards preservation of traditional folk and classical art forms, the company said in a statement.

  This collaboration focuses on keeping the visual and performing art forms of India alive by means of various activities such as weeklong festivals, camps, exhibitions, and publications, over a period of three years. The collaboration will give artists from across India a platform to portray their talents and take pride in their identities, thereby strengthening and unifying the artist community in the country.

  To begin with, a weeklong cultural festival will commence in Mysuru from November 4 to November 10, 2022, at Kalamandira, Vinoba Road, from 5:30 pm to 8:00 pm. The aim of this festival is to present different art forms of India on one stage. More festivals are scheduled to take place in New Delhi, Mumbai, Hyderabad, Thiruvananthapuram, Indore, and Chandigarh.

  Infosys Foundation Trustee Krish Shankar said, “We are pleased to team up with Bharatiya Vidya Bhavan to encourage artists from various backgrounds to come to the forefront and display their talents, thus safeguarding various art forms from being forgotten over time.”

  Bharatiya Vidya Bhavan, Bengaluru Kendra Director H N Suresh said, “There are no adequate words to express the gratitude to Infosys Foundation as they have been supporting vanishing arts, young and upcoming artists belonging to economically weaker sections for decades through BVB and its branches across India and abroad. In the years to come, both Infosys Foundation and Bharatiya Vidya Bhavan will work hard to ensure Indian art and culture is adequately preserved and promoted.”

Cos spent Rs 2380.54 crore on education, Rs 945 cr on health in Karnataka in five years till FY’21: FM

In Karnataka, companies spent a cumulative CSR amount of Rs 2380.54 crore and Rs 945 crore on education and health-related activities, respectively, between 2016-17 to 2020-21 fiscal, Finance and Corporate Affairs Minister Nirmala Sitharaman informed Parliament on Tuesday.

Further, the companies are required to file the CSR data for the 2021-22 financial year on or before March 31, 2023, she said in a written reply to Rajya Sabha.

On institutionalising the use of CSR funds, the Minister said Section 135 of the Companies Act, 2013 (‘Act’) along with Schedule VII of the Act and Companies (CSR Policy) Rules, 2014 provides the broad framework for Corporate Social Responsibility (CSR).

Schedule VII of the Act indicates the eligible list of activities that the companies can undertake as CSR, she said.

Also, the CSR framework is disclosure-based, and CSR-mandated companies must file CSR activities details annually in the MCA21 registry.

All data related to CSR filed by the companies in the MCA21 registry, including the list of companies who have spent their CSR funds on activities related to education and health, are available in the public domain at www.csr.gov.in, she has said.

Walmart and Flipkart give Rs 2 crore for Assam flood relief

American multinational Walmart and its Indian partner Flipkart have jointly contributed over Rs 2 crore towards flood relief in Assam as part of its CSR initiative.

Walmart Foundation and Flipkart Foundation have contributed more than Rs 2 crore (USD 2,50,000) to flood relief work in Assam.

In a joint statement, the duo also said that the funds would help the humanitarian organisation “Doctors For You” support people impacted in the region. “Doctors For You” will supply kits with essential food items, medicines, and hygiene-care products and offers healthcare and psychological support to the affected population.

“Our hearts are with those affected by the devastating flooding in Assam, and together with the Flipkart Foundation, we are here to support relief efforts,” said Julie Gehrki, Vice President and COO, Walmart Foundation.

“The people of Assam have been severely affected by the floods, and we endeavour to provide the necessary support, care and compassion. With support from our colleagues across the organisation, we hope to leverage our capabilities and mobilise resources toward the most critical needs of people and communities,” said Rajneesh Kumar, Chief Corporate Affairs Officer, Flipkart Group.

As floods continue in several parts of India, Flipkart, through its CSR arm, is also partnering with Goonj to raise funds from customers to provide critical medical supplies and essential relief materials for flood relief efforts in the country. The statement added that the company has also mobilised employee contributions for this cause.

Walmart Foundation is a CSR arm of Walmart, while Flipkart Foundation is that of e-commerce player Flipkart Group.

India to surpass China as world’s most populated country in 2023: UN

India will surpass the population of China by next year, making it the most populous country in the world. In the United Nations (UN) report, the world population is expected to reach eight billion by mid-November 2022.

The report by UN’s World Population Prospects 2022, released on July 11, which is World Population Day, India’s population is expected to increase to 1.429 billion from the current 1.417, which will be marginally higher than China’s 1.426 billion people.

Director John Wilmoth at the UN population division has said the world population expansion was slowing down but was still growing. The UN expects the world population to touch 8 billion later this year, 9 billion around 2037 and 10 billion around 2058.

By 2080, the world population is expected to reach 10.4 billion people. Growth rates in China were slowing down, while those in India were increasing. “we expect India to surpass China as the world’s most populous nation,” Wilmoth has said.

By 2050, India’s population will reach 1,668 million, far exceeding China’s declining population at 1,317 million. The global population by 2050 will have touched 9.7 billion, the UN reports predict.

The population in high-income countries was grown due to the migration of people from other nations. At the same time, the population of people above 65 was growing faster due to increasing longevity. “From 1950-2050, we expect the population above 65 to grow from 5 to 16 per cent of the total. By 2100 it is projected that the global population above the age of 65 will be considerably larger than the population below the age of 15,” Wilmoth has said.

By 2050, the number of persons 65 years and above are expected to be more than double that of 5-year-olds and the same as 12-year-olds.

The report predicts that India’s fertility rate is expected to dip to 1.78 from the current 2.01 by 2050 and 1.69 in 2100, compared to the global average of 2.3.

Globally, life expectancy reached 72.8 years in 2019, an increase of almost nine years since 1990. Further reductions in mortality are projected to result in average longevity of around 77.2 years globally in 2050. The global population aged 65 years or above is projected to rise from 10 per cent in 2022 to 16 per cent in 2050.