Evaluating India’s Top Companies For CSR 2014
by Namrata Rana and Utkarsh Majmudar
For India the need to change from business strategies to “Responsible business strategies” is urgent if it is to tackle issues such as health, nutrition, education, water scarcity and climate change, particularly with its population of over 1.2 billion people.
2014 saw the Companies Act with the mandatory CSR provision come into effect (see CSRwire : The Birth of a New Ecosystem: India's Mandatory CSR Rule Becomes a Reality). The Act makes it mandatory for companies meeting certain thresholds to spend 2% of its net profits in CSR.
This has led to many discussions on how these provisions and the newly notified rules impact corporate India. Economic Times, Futurescape and IIM Udaipur felt it was an opportune time to study what Indian Companies have been doing as part of CSR and the implications for them going forward on the path to social responsibility. The study - India’s Top Companies for CSR 2014 (www.responsiblefuture.in) scored companies based on four principal criteria:
- How well is the governance for CSR structured?
- How forthcoming are companies with respect to CSR activities and performance
- How well are key stakeholders (employees, community, customers and suppliers) integrated within a company’s CSR framework?
- How pervasive are sustainability practices of companies?
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Namrata is a Director at Futurescape. Her background in business and Sustainability ensures a cross functional expertise in work assignments which include New Services, Applications that enhance livelihoods and also integrated sustainable experiences. She has worked extensively in sustainability and livelihoods, healthcare, mobility. She also conducts workshops on sustainability practices of businesses. She can be found on Twitter @namratarana.
