Corporate Social Responsibility is an emerging trend for businesses across the country as it offers a great way for nonprofits to reach new investors and diversify their income. However, the spotlight mainly falls on the bigger companies that are complying with their social responsibility and making resources available for communities. According to the latest reports on social responsibility and CSR impact assessment, it was cited that 80% of the top 100 organizations addressed SDGs or Sustainable Development Goals in their business operations.
Due to the pandemic, 2021 was reportedly a low year for CSR as the CSR expenditure in the country fell by 64% compared to the previous year. Nevertheless, based on the data released by the legislative body, how five of the most popular companies in India carried out their CSR activities:
Godrej Consumer Products Limited
GCPL or Godrej Consumer Products Ltd. is in this list for the first time in 2021 after spending a total of INR 34.08 crores on their CSR programs. The company allocated 63% of its CSR budget to fund and support more than 9000 nano entrepreneurs by initiating medium to long-term programs on livelihood recovery. It reached over 2.77 lac people from the most fragile communities and achieved water positivity through zero waste to landfill initiatives.
Infosys Limited
Next on the list is the IT giant Infosys which has been seriously undertaking impact assessment of CSR projects through its Infosys Foundation which was established in 1996. Infosys has been focusing on sustainable business practices way before CSR was affiliated as a mandate in 2014. The company invested INR 325.32 crore in its CSR programs that encompass social, environmental and economical junctures which not only covers their business but also the communities. The Infosys Headstart is a stage that produces learning content built by Infosys and elite content providers.
Wipro Limited
Following the suite of Infosys is another IT giant Wipro which has been funding CSR programs through multiple channels including its very own Wipro Foundation. In the last financial year, Wipro diverted INR 251 crores towards CSR and supported more than 1500 projects involving livelihood recovery, humanitarian aid and healthcare support.
Tata Chemicals Limited
One of the leading champions of sustainability development, Tata Chemicals spent INR 21 crores in FY21 on CSR initiatives. The company mainly focuses on environment conservation in its CSR assessment and helped over 6000 farmers with livestock management, field demonstration and capacity building in the previous financial year.
ITC Limited
A company that operates on the firm belief of serving a larger purpose keeping social and national priorities in prime focus, ITC spent INR 353.46 crores in orchestrating its CSR initiatives. The company has been clinical in introducing “WOW” or Waste Recycling Programme which collected 70,900 MT of dry waste from 1067 wards.
Concluding Thoughts
The aforementioned list features the five CSR-compliant companies that are best prepared to proactively mitigate their reputation and enjoy the trust of the communities around them. If you are seeking an impact assessment of CSR projects, you can get in touch with social consultants who can aid your company in addressing issues other than profit such as ethics, social responsibility and sustainability.
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