Companies spent Rs 13,464.3 crore in 2016-17 crore towards Corporate Social Responsibility (CSR), down from Rs 14,366.29 crore in the previous financial year. Section 135 of Companies Act, 2013 along with Schedule VII and CSR Policy Rules, 2014 came into force
Companies spent Rs 13,464.3 crore in 2016-17 crore towards Corporate Social Responsibility (CSR), down from Rs 14,366.29 crore in the previous financial year.
Section 135 of Companies Act, 2013 along with Schedule VII and CSR Policy Rules, 2014 came into force with effect from April 01, 2014.
Notices sent to thousands of Cos’ for failure to spend CSR funds Meanwhile, notices have been sent to thousands of companies that have failed to spend funds under Corporate Social Responsibility.
Replying to a question regarding CSR compliance, Minister of State for Corporate Affairs P P Chaudhary said based on scrutiny, call for information letters to 5,382 companies have been issued for the financial year 2015-16.
“Further, 313 prosecutions have been sanctioned for the financial year 2014-15 and 33 companies have filed an application for compounding for the same year,” the Minister said during February Parliament session.
The information was provided by Chaudhary in a written reply to the Lok Sabha on February 8, 2019.
Lawmaker Santosh Ahlawat had asked the Ministry of Corporate Affairs whether the Government has sent notices to thousands of companies which have failed to spend funds under CSR policy and asked for action being taken against the defaulters.
Source: Filings by companies up to June 30, 2018, in the MCA21 registry.
Innovative Financial Advisors Private Limited (Fiinovation) along with PI Industries, a leading Agri-sciences based company, and Harsha Trust, a not-for-profit organisation has extended their CSR intervention for another two years in Rayagada district in Odisha
Innovative Financial Advisors Private Limited (Fiinovation) along with PI Industries, a leading Agri-sciences based company, and Harsha Trust, a not-for-profit organisation has extended their CSR intervention for another two years in Rayagada district in Odisha. Began in 2017, the intervention aims at enhancing agri-based farm income of small and marginal farmers by adopting Good Agricultural Practises (GAP) and market-led interventions. The project has till date benefitted 1300 farmers from forty-five villages of Rayagada district.
Based on a comprehensive impact assessment conducted by Fiinovation, achieving sustainability becomes the focal point of the project extension. As part of the extension, two Farmer Producer Organisations (FPO) will be set up in the targeted two blocks of Kalyansingh and Bissam Cuttack of Rayagada district. These FPOs will ensure integration of small farmers in the agricultural value chain by training them on ways to increase crop productivity in a sustainable manner and by adopting and promoting usage of good quality inputs and services.
Speaking on the occasion, Dr. Soumitro Chakraborty, CEO Fiinovation said, “Small producers do not have the large marketable surplus individually (both inputs and produce) to get the benefit of economies of scale. The planned FPOs in these areas will provide the necessary inputs to the members and also serve as knowledge delivery institutions for the farmers.”
Jindal Stainless Foundation has partnered with NABARD to help boost incomes of 4 lakh farmers in the next five years. A Memorandum of Understanding (MoU) was signed between the two partners recently. The MoU seeks to intensify the ongoing
Jindal Stainless Foundation has partnered with NABARD to help boost incomes of 4 lakh farmers in the next five years.
A Memorandum of Understanding (MoU) was signed between the two partners recently.
The MoU seeks to intensify the ongoing CSR programme ‘Project Krishi Unnati’ for having a positive impact on 4 lakh farmers in two phases, spread over 5 years.
Jindal Stainless Foundation will partially fund and support the operations of NABARD and other implementing partners towards this end.
It will also help in setting upmarket and financial linkages for farmers.
Deepika Jindal, Chairperson, Jindal Stainless Foundation, said, “The collaboration with NABARD is an extension of our MoU signed with the Odisha government last year. So far, in Odisha, we have already reached out to over 20,000 farmers through this intervention.”
The foundation is providing farmers in soil testing, crop management, market linkages and promoting climate-resilient technologies.
It will help Farmer Producer Organizations, Farmers’ Clubs and Self-Help-Groups promoted by NABARD, which in turn will extend complimentary support to initiatives run by the foundation.
To promote sustainability and create awareness about air pollution Dell has partnered with the Chakr Innovation which converts diesel soot into ink (POINK) through their retro-fit emission control device for diesel generators
To promote sustainability and create awareness about air pollution Dell has partnered with the Chakr Innovation which converts diesel soot into ink (POINK) through their retro-fit emission control device for diesel generators.
The technology can capture over 90 per cent of the particulate matter emissions from the exhaust of diesel generators without causing any adverse impact on the diesel engine.
Speaking about the event, Rajeev Kapoor, India Vice President and CSR Champion, Dell said, “Environmental responsibility is much more than creating eco-friendly products. It’s about incorporating sustainability into every practice. Innovative thinking and eco-friendly designs are the first steps in minimizing the impact on the environment. We support inventions which solve larger problems and are glad to partner with Chakr innovation to address the issue of rising levels of air pollution in the city and initiate a positive dialogue around the issue.”
Adding to this, Kushagra Srivastava, CEO, Chakr Innovation said, “We aim to curb air pollution by recycling it. Our product, Chakr Shield helps reducing air pollution by converting diesel soot from generators into inks and paints which can be safely reused. We are proud to partner with Dell which not only promotes but also practices various sustainable methods across its functions. It’s encouraging to see that Dell has been using poink for packaging and printing products at its manufacturing facility in India. We hope to amplify the partnership to capture the air pollution at its source and create a beautiful and greener tomorrow for everyone around us.”
Two iconic brands, DIESEL and Coca-Cola have launched ‘The(Re)Collection’ — a beautifully crafted clothing collection partially made from recycled materials, including plastic bottles
Two iconic brands, DIESEL and Coca-Cola have launched ‘The(Re)Collection’ — a beautifully crafted clothing collection partially made from recycled materials, including plastic bottles.
In India, the (Re)Collection is exclusively available at 11 Diesel stores with a retail price starting from Rs 6,000 to Rs 25,000. Diesel India will also be showcasing the capsule collection as a pop-up in major cities.
The range includes recycled materials such as recycled PET derived from plastic bottles and recycled cotton, to create a fresh, modern interpretation of the Diesel casualwear aesthetic combined with Coca-Cola iconicity.
Creating beautiful fibres from plastic, this collaboration aims to raise awareness on the value of recycling with all pieces made with recycled PET fibres.
Commenting on the new partnership, Coca-Cola Company Vice President of Global Licensing & Retail Michelle Moorehead said: “Not only does The (Re)Collection generate awareness of the importance of recycling in a very approachable way – by showcasing beautiful fashions created from recycled materials – it’s also a collection that celebrates individuality.”
HCL’s Shiv Nadar has topped the list of givers for philanthropic acts, but the richest Indian Mukesh Ambani ranks third behind Azim Premji, who created headlines by announcing a USD 21 billion commitment to charity. The Edelgive
HCL’s Shiv Nadar has topped the list of givers for philanthropic acts, but the richest Indian Mukesh Ambani ranks third behind Azim Premji, who created headlines by announcing a USD 21 billion commitment to charity. The Edelgive Hurun India Philanthropy List 2019 has made this ranking.
Nadar and his family donated Rs 826 crore, while Premji gave Rs 453 crore and Ambani parted with Rs 402 crore, according to the list. Companies Act 2013 has made it mandatory for entities above a certain threshold to devote 2 per cent of their profit to Corporate Social Responsibility (CSR) projects.
Edelgive Foundation chief executive Vidya Shah said fear of being associated with causes like civil liberties, along with lack of measurability of the impact, are working as impediments for corporates from pledging more.
From 38 in 2018, the Indians who have donated more than Rs 5 crore for social causes, excluding religious donations, has touched 72 now. The overall philanthropic contributions also nearly doubled to Rs 4,391 crore, with nearly half of the contributions have come in individual donations, while the rest have come from companies.
There has been an uptick in the percentage of wealth that has been parted with by the rich families, shows the list, which assumes 10 per cent of net worth is held in cash,1.9 per cent given away now as against 1.5 per cent in 2018. Education continues to be the most favourite among the causes, followed by healthcare, while Infosys co-founder Nandan Nilekani, who along with wife Rohini who have spent Rs 346 crore, have chosen “societal platforms” for charities.
There is a tendency among Indians to give more as they grow older, as per the list, adding the average age of the giver is 64 years. However, as more exits happen, new age entrepreneurs are also getting more active on the giving side, Shah said, adding the Bansals of e-commerce major Flipkart are planning to start donating via a recently set up family office. Hurun managing director Anas Rahman Junaid explained that the list limits itself to the amount spent due to which Premji comes second. The Tatas are excluded as the list focuses on individuals.
A year-long volunteer program has been launched to beat plastic pollution at Sanjay Gandhi National Park, Borivali and beaches of Mumbai by leading beverage firm Coca-Cola India. Coca Cola India and AIESEC have teamed up with Afroz
A year-long volunteer program has been launched to beat plastic pollution at Sanjay Gandhi National Park, Borivali and beaches of Mumbai by leading beverage firm Coca-Cola India.
Coca Cola India and AIESEC have teamed up with Afroz Shah-led ‘Date With Ocean Foundation’ for this program, an official statement said.
The yearlong volunteer program involves awareness creation, waste segregation, waste management program that will impact more than 15,000 people in 43 padas around Sanjay Gandhi National Park, and beaches in Mumbai.
Launching the project, Afroz Shah led 500 school children, AIESEC volunteers, Coca-Cola employees, citizen groups and key stakeholders in a beach clean drive at Versova beach.
Commenting on the volunteer program, Afroz Shah, said, “Waste management is a global environmental concern. To see a real change at the ground level, a collaborative and consistent effort is required to clear the waste out of our environment sustainably.
As part of this program, every week Afroz Shah along with volunteers will do their bit by:
Cleaning Danapaani beach, Versova Beach, SGNP Forest and River Mithi.
Train people living in the human-ocean conflict zone and on the banks of River Mithi to get Circular economy in their lives
Train people living in the human-animal conflict zone at Sanjay Gandhi national park, Borivali to get Circular economy in their lives
4Rs: Refuse, Reduce, Reuse & Recycle – Monetize plastic and no litter
Involve youth organization AIESEC, students and young leaders to contribute every week
Involve plastic industries in implementing Extended Producer’s Responsibility (EPR)
Shah said that the endeavour is to create a sense of belonging in the hearts and minds of people by engaging citizens, students and corporate though a volunteer program to beat plastic pollution as well as suggest ways for a circular economy.
“Plastic waste management is a key priority for India. At Coca-Cola, we care about the country and we aspire to help collect and recycle the equivalent of every bottle and can that we sell by 2030,” said Ishteyaque Amjad, Vice-President, Public Affairs, Communications and Sustainability, Coca-Cola India and South-West Asia.
AIESEC India President Devik Sodha said, “We place our confidence in youth as the key to unlock a better future and believe that it is the responsibility of the youth to actively engage in protecting the environment as well as bringing behavioural change in society.”
AIESEC is committed to support the Afroz Shah-led initiative by providing volunteer leadership to the community efforts and empower the next-gen community leaders, he added.
Ahead of Diwali, the Andhra Pradesh Government has given farmers good news by hiking the to the farmers Raithu Bharosa Scheme assistance to Rs 13500. Chief Minister Jagan Mohan Reddy announced this after a review meeting today
Ahead of Diwali, the Andhra Pradesh Government has given farmers good news by hiking the to the farmers Raithu Bharosa Scheme assistance to Rs 13500. Chief Minister Jagan Mohan Reddy announced this after a review meeting today. This amount will be transferred to the farmers in three instalments. The chief minister acceded to the request of the farmers who attended the review meeting. The budget of Rs 5510 crores for the scheme has already been released by the government.
Indian-American Abhijit Banerjee, Esther Duflo and Michael Kremer jointly won the 2019 Nobel Economics Prize on Monday “for their experimental approach to alleviating global poverty.” “The research conducted by this year’s Laureates
Indian-American Abhijit Banerjee, Esther Duflo and Michael Kremer jointly won the 2019 Nobel Economics Prize on Monday “for their experimental approach to alleviating global poverty.” “The research conducted by this year’s Laureates has considerably improved our ability to fight global poverty. In just two decades, their new experiment-based approach has transformed development economics, which is now a flourishing field of research,” said the Nobel committee in a statement.
Banerjee, 58, was educated at the University of Calcutta, Jawaharlal Nehru University and Harvard University, where he received his Ph.D in 1988. He is currently the Ford Foundation International Professor of Economics at the Massachusetts Institute of Technology, according to his profile on the MIT website. In 2003, Banerjee founded the Abdul Latif Jameel Poverty Action Lab (J-PAL), along with Duflo and Sendhil Mullainathan, and he remains one of the lab’s directors. He also served on the UN Secretary-General’s High-level Panel of Eminent Persons on the Post-2015 Development Agenda.
Malcolm Reid is based in Atlanta, Georgia and has been involved with HIV advocacy since 2014. He created THRIVE SS’s group for Black men living with HIV over the age of 50, Silver Lining Project, and works to help participants
Malcolm Reid is based in Atlanta, Georgia and has been involved with HIV advocacy since 2014. He created THRIVE SS’s group for Black men living with HIV over the age of 50, Silver Lining Project, and works to help participants grapple with aging, PTSD, loss, and stigma while training them in political advocacy. Malcolm is an avid thrill-seeker and rollercoaster enthusiast having ridden over 50 of the world’s fastest.
When did you find out you were HIV positive? How has your HIV status impacted your life?
When I was diagnosed in 1997, I was not surprised. The impact on my life, at first, was negligible. I went on with my life as if nothing was different. I took my pills and kept it moving. I met my current husband a year before and we were both diagnosed around the same time, so I had someone to support me and I, being a natural caretaker, put a lot of energy into taking care of him.
Years later, in 2014, I began to look at myself and my life. I realized how blessed I was. I also realized how selfish I had been. I knew that there were guys my age suffering in silence. Living a quiet existence, at home, alone. They were fearing disclosure, stigmatizing themselves. I realized that I was in a position to help. Even if it meant just being a sounding board to men my age or telling my story younger men.
I shared my desires with some friends. While on a cruise with a large group of SGL people, I spoke out in a workshop. I told my story and expressed my desire to get involved. My friends were responsive, and one led me to a supportive group, which I joined in August of 2015. That group later became THRIVE SS.
Where have you gotten support to manage your HIV treatment?
Because I have a job with good benefits, I have managed my own medical support. Since joining THRIVE SS as a volunteer and now employee, my support comes from my advocacy.
How long have you been involved in HIV advocacy?
I have been involved in HIV advocacy since 2015. After becoming a member of the THRIVE SS organization, I was able to create a group called “Mature Men of Color” to support black gay men living with HIV over the age of 50. Today that group is the Silver Lining Project and we are now working to implement the dream I had back in 2014 – programs geared to assist Black gay men living with HIV over the age of 50 to deal with aging, PTSD, loss, and stigma while helping them train others and become engaged in political advocacy.
Do you think there is an added stigma being a person from a racially marginalized community living with HIV, and if so, how do you handle it?
Yes, I do think there is added stigma being a person from a racially marginalized community living with HIV. While the African American community mostly votes liberal, African American people are very conservative in social and family circles. The church and family structure can be judgmental and unforgiving. I believe the best way to handle this is through communication and education. I try to take the fear and myth out of living with HIV. I am open and out about my status. I believe when people see me and my husband, out in the community, living, thriving, doing the work; they will understand that HIV is no longer a death sentence. It’s not just the rich famous athlete that can live an abundant life with HIV.
I also advocate for Undetectable = Untransmittable (U=U) because once people understand that people who are living with HIV receive the care they need, and achieve and maintain an undetectable viral load, they are unable to transmit HIV through sex and are, therefore, less likely to stigmatize us. From a policy and legal perspective, this will help us end the laws across the country that criminalize HIV.
Living in Georgia, we are affected by the refusal of our government leaders and representatives to expand Medicaid. This has led to hospitals and health centers closing in rural areas and has left thousands of people unable to afford their medications. Many people don’t have access and even if they did, they might not be able to afford care. U=U is only possible when there’s equal affordability to ensure access.
Do you feel that you face additional challenges in care as a member of a racially marginalized community living with HIV?
I have been blessed. I have a good job with great health insurance. Currently, I have no challenges accessing, affording and remaining in care. But I see the challenges my brothers face regularly with ADAP and other public health organizations and want to help them access the care they need.
How would you support someone who recently received a positive HIV diagnosis?
First, I would talk to them about their concerns and fears to learn where they are mentally. Are they self-stigmatized? Are they blaming themselves for their diagnoses? Then I would use the THRIVE SS model to connect them to care. We want to not only link them to care but make sure we address the social determinants of health such as housing and an ongoing support network.
If you could give your younger self one piece of advice, what would it be?
A good job and salary aren’t everything. Look around at your blessings and share them – get involved, early and often. Also, understand that everyone who is not achieving what you have achieved still has a story and value, and it’s up to us to lift them up.
What gives you hope?
Young advocates that are bringing new energy and creativity to advocacy give me hope. I’m also hopeful because of strategies like PrEP, which can help prevent the spread of HIV, and medications that keep those of us living with HIV undetectable and untransmittable.
