CSR by Indian Companies: An Overview of Selected Companies
We can say Indians have a great interest in CSR. In India CSR is regulated as per “The Indian Companies Act-2013”, Schedule VII consisting of 10 areas, giving a way to Indian companies to carry CSR activities. The Indian companies have to spend 2% of their net profit in CSR activities or CSR projects.
In this section, we will try to explore the CSR activities of a few reputed Indian companies on four different subjects: profit, people, planet and process. In profit section, we will just consider how sound the company is, that is, the financial position of the organization as profit is the base of CSR.
In people section, we will analyze the various CSR activities moving around the people’s welfare, development, and safety.
In planet section, we will examine the environmental activities carried by these organizations keeping in view their environmental footprints.
In process section, there will be a different angle of study, as the past researchers have explored about the process with an external aspect. We mean to say that we will look over the manufacturing, distribution, waste management, supply chain management, packaging, etc. The motive behind such exploration is to make organizations understand and believe that these internal business processes influence the CSR activities and organizational reputation.
Tata Group: A conglomerate diversified business enterprise which is in steel, automobile, software, consumer durables, and fashion brands and accessories, the Tata group has more than 80 companies. The group spends more than the expected figure as per the Indian Companies Act of net profit in various CSR activities, exceeding the government expectations. The group has had a very healthy financial positions right from its establishment to the current time. The company’s CSR can be broadly classified as promoting education, health, livelihood, and rural and urban infrastructure development. Besides this they undertake areas of sports, disaster relief, environment, and ethnicity with the aim to improve the quality of life of communities.
Reliance Industries Limited: It is one of the leading business houses of India, a conglomerate diversified in IT, oil and petroleum, digital services, media and entertainment. Financially it is a sound company with the highest market capitalization in India as of today. They are highly committed towards the CSR activities under the name of Reliance Foundation and umbrella organization for social initiatives. They have a firm belief in sustainable development, so their initiatives happen to be in conformity with the Sustainable Development Goals (SDGs) of the United Nations. They are focusing on rural development, environment conservation, health, education, sports, art and culture, water security, and many more as the list will go on.
Indian Oil Corporation Limited: It is India’s leading oil and petroleum public sector company. The company’s sustainability and CSR activities focus on providing safe, efficient, and ethical customer services, which can curb the negative impact on environment and enhance the quality of life of community. They focus on efficiency in operations and processes, their CSR activities include safe drinking water along with water conservation, healthcare, education and employment generating training skills, women empowerment, and environmentally sustainable practices within and beyond the organization.
Suzlon Group: Suzlon Group is one of the world’s largest wind turbine manufacturers providing green energy solutions. The Suzlon Group believes that sustainability can be achieved by the integration of all resources, that is, financial, natural, social, and human, which ultimately enhances the business advantages. Suzlon CSR model “SUZTAIN” incorporates the implementing and monitoring of CSR activities. They have a strong belief in 100% green business initiatives. They are involved in livelihood enhancement, education, environment, health care, and civic amenities.
Wipro: Wipro limited is a giant global information technology consultant and business services providing company. The company is always recognized for its philanthropic commitment, sustainability, and as a good corporate citizen. The domain of CSR activities includes education, healthcare, community ecology, business sustainability, and faculty development programs in various engineering colleges across the country.
SBI: India’s largest commercial bank decorated with a crown of premier institution in financial sector. This group has its footprints across several countries in the world. The bank firmly believes in its business sustainability and offers products and services in a responsible manner taking the social and environmental aspects in to account. The bank’s digitalization commitment and its green banking services have reduced its carbon footprints and get it closer to SDGs. Paper usage reduction, solar ATMs, community development programs, and health care initiatives show their commitment toward the society and environment.
ITC: ITC is one of India’s leading private sector companies with magnificent market capitalization. It has presence in FMCG, hotels, agri business, packaging and paper boards, and specialty papers. The company is carbon positive for many years. The company is engaged in afforestation programs, water shed development, livestock development, education, health and sanitation, solid waste management, and organic farming. ITC carries its CSR activities through public-private partnership as they consider government as an important stakeholder in terms of CSR implementations.
Coal India Limited: An organization committed to fulfill the energy requirements of the country in the primary energy sector. Coal India uses CSR as a strategic tool for sustainable development. They believe to integrate business process with social processes. The areas which they cover under their CSR policy is poverty eradication, hunger and malnutrition, health care, education, vocational skills development, air, water and soil conservation, protection of flora and fauna, and rural development projects. They carry their CSR activities with the local government bodies. They encourage the development and introduction of environment-friendly technologies.
Hindustan Unilever: Hindustan Unilever (HUL) is India’s largest fast-moving consumer goods company working for the last 80 years in India. A company with a large brand portfolio is a part of everyday life of millions of consumers. The company as per schedule VII of Indian Companies Act carries various CSR activities like Project Shakti - to promote education, Swachh Aadat and Swachh Bharat - to eradicate hunger, poverty, promotion of sanitation and health care, promotes ecological balance, protection of animals and forest, promoting education, and disaster relief programs. The various programs of HUL have been integrated with their business, that is, CSR and business processes moves parallel.