Amendments in the CSR Law: What it means for you

Amendments in the CSR Law: What it means for you

There is a lot of buzz around The Companies Act, 2013 and the recent amendments in July 2019. Proposed amendments have been approved by the Union Cabinet to The Companies Act. These amendments also comprise changes in CSR directives.

So, what does it really mean if you’re part of the CSR team of a company? Are there ramifications or is it much ado about nothing?

There are four key changes that one needs to bear in mind:

1. If you’re a compliant company (have been spending your allocated CSR funds annually) – you have nothing to worry about.

However, what happens to the unspent amounts from your allocated CSR budget?

Any unspent CSR amount at the end of every financial year that is not related to an ongoing project that is undertaken by a company in pursuance of its Corporate Social Responsibility Policy, shall be transferred by the Company within a period of six months of the expiry of the financial year to any of the Funds** specified in Schedule VII of the Act.

Any unspent CSR amount at the end of every financial year that relates to an ongoing project that is undertaken by a company in pursuance of its Corporate Social Responsibility Policy, shall be transferred by the Company within a period of 30 (Thirty) days from the end of the financial year, to a new bank account to be called as the “Unspent Corporate Social Responsibility Account”.

The amount from this “Unspent Corporate Social Responsibility Account” shall be utilised by the company in pursuance of its Corporate Social Responsibility Policy within a period of 3 (Three) financial years from the date of such transfer, failing which the company shall transfer the same to any of the Funds** specified in Schedule VII of the Act within a period of 30 (Thirty) days from the date of completion of the third financial year.

** Funds as on July 31, 2019 include:

(a) Swachh Bharat Kosh;
(b) Prime Minister’s National Relief Fund; or
(c) Clean Ganga Fund.

How can the ‘Unspent Corporate Social Responsibility Account’ be advantageous?

This can be used to fund multi-year projects to achieve large scale outcomes. Allows corporates to formally plan and use provisions for multi-year engagements with non-profits, thus allowing corporates to support interventions working on engendering systemic change.

2. If you’re a new company, and meet all the financial requirements for CSR, you’ll have to allocate CSR funds.

Previously, only companies that:

(a) fulfilled the financial threshold specified in Section 135 (1) of the Act; AND
(b) which had completed a period of 3 (Three) financial years since its incorporation,

were required to spend 2% of the average net profits towards CSR activities.

By virtue of this amendment of Section 135 (5), even if a company has not finished 3 (Three) financial years since its incorporation, as long as the company meets the threshold specified in Section 135 (1), i.e., (i) Company having a net worth of INR 500 Crore or more; (ii) a turnover of INR 1000 Crore or more; or (iii) a net profit of INR 5 Crore or more, during the immediately preceding financial year, such company is required to spend 2% of its net profits towards CSR activities.

3. The penalty for non-compliance is now more stringent

This signals government interest to closely monitor and control CSR expenditure and may be a precursor for more stringent auditing of CSR spends by corporates.

Going forward, in the event a company fails to:

(a) Comply with Section 135 (5), i.e., does not spend 2% of the average net profits towards CSR while being required to do so under Section 135 (1) or does not transfer any unspent CSR Amount (not allocated for any ongoing project) to a fund mentioned in Schedule VII; and/or
(b) Comply with Section 135 (6) i.e., unspent CSR Amount of ongoing project to “Unspent Corporate Social Responsibility Account”,

such company will be liable to pay a fine ranging from INR 50,000 (Rupees Fifty Thousand Only) to INR 25,00,000/- (Rupees Twenty-Five Lakhs Only).

Additionally, every officer of the company that is in default shall be punished with imprisonment for a maximum period of 3 (Three) years OR with a fine ranging from INR 50,000/- (Rupees Fifty Thousand Only) to INR 5,00,000/- (Rupees Five Lakhs Only)

The Bottom line:
New companies will be brought into the CSR fray due to removal of the limit on years of existence. The new provisions allow for multi-year projects and penalisation for non-compliance has been increased.

NOTE: The CSR landscape is poised to undergo changes with the recent set of proposed amendments to the Companies Act. While the discussion and debate is on, the right interpretation of the implications is critical.

———————————————————————————-
Sattva has been working with various corporate clients to help them define their social impact goals and maximise the return on social investment. Our focus is to solve critical problems and find scalable solutions. We assist companies in formulating their long-term CSR strategy by strategically aligning with business to provide meaningful solutions to social issues.

● You can read more about our work with CSR, here.
● Talk to us: impact@sattva.co.in

India’s Private Giving: Unpacking Domestic Philanthropy and Corporate Social Responsibility

India’s Private Giving: Unpacking Domestic Philanthropy and Corporate Social Responsibility

Background

Since private philanthropic funding is not regularly identified and no data is being collected by States or the federal government, there is an absence of data on domestic philanthropy in India.

In order to shed light on how private domestic organisations provide financing to development in India, to examine how these private resources are allocated, and to identify the issues and geographical areas that are being targeted, OECD Development Centre undertook ‘India’s Private Giving: Unpacking Domestic Philanthropy and Corporate Social Responsibility’, a study that identifies the scope and scale of domestic philanthropy in order to assess how to unleash the potential of further partnerships in support of the Sustainable Development Goals (SDGs).

As survey partners, Sattva helped in designing and contextualising the study for the Indian philanthropic ecosystem and carried out secondary research, data collection, interviews and data validation for the report.

The study sampled 50 private organisations in India comprising of CSR, corporate and family foundations.

Key Findings

  • While the OECD invited 178 of the largest CSR and philanthropic organisations in India to be part of a survey to map India’s domestic giving sector, family foundations and corporate foundations were reluctant to share financial data, so domestic funding has been partially identified for only 50 large organisations by type of funder, target sector and the Indian States and Territories in which it is carried out.
  • Domestic philanthropic funding has at least matched international philanthropic funding in recent years, with close to USD 1.8 billion in domestic spending between 2013 and 2017.
  • An analysis based on comparable data covering domestic philanthropy, international philanthropy and ODA in India shows health and education as two main priority areas for philanthropy and CSR in India. There is scope for more coalitions and to explore how to achieve impact at scale when it comes to these areas.
  • Sattva-Research-OECDSector spending

  • Education, health and rural development attracted the largest funding. Other areas, like gender equality, receive very limited funding.
  • For water supply and basic sanitation, there are important overlaps in funding amongst ODA, international and domestic philanthropy, as well as CSR and public spending. This suggests potential for more large scale partnerships between ODA donors, private donors and the public sector.
  • Sattva-Research-OECD_CSR_States (1)

  • Domestic philanthropic giving is highly concentrated in the States of Maharashtra, Karnataka and Andhra Pradesh. Comparing funding from private giving with poverty rates reveals that domestic philanthropic giving in India focuses rather on populated areas than those with high poverty incidence.
  • Increasing domestic philanthropic flows pose a new challenge for the non-profit sector. Additional resources from mandatory CSR and larger voluntary donations from individuals and foundations are becoming available, so it is urgent to strengthen the ability of the non-profit sector to further absorb those resources and transform them into positive development outcomes.
  • The full report can be accessed below.

    India’s Private Giving: Unpacking Domestic Philanthropy and Corporate Social Responsibility- Full Report

    Event

    OECD launched ‘India’s Private Giving: Unpacking Domestic Philanthropy and Corporate Social Responsibility’, a study on the scope and scale of domestic philanthropy and CSR in New Delhi on 9th August.

    The event featured a presentation of the report followed by a panel discussion on the key findings. ‘Private financing for development in India: New ways to achieve Agenda 2030?’ examined the role of private philanthropy, Corporate Social Responsibility and corporate philanthropy in contributing to the economic and social development of the country.

    Would you like to partner with us to further the conversation around philanthropy and corporate social responsibility? Write in to knowledge@sattva.co.in.

    THE CASE FOR BUSINESS VALUE IN CSR

    The Case for Business Value in CSR

    – By Prateek Jain

    Business value remains a controversial subject in the CSR ecosystem. There are mixed opinions amongst practitioners on whether it is okay to derive business value from CSR programmes and if so to what extent? Advised by risk averse financial auditors and legal counsels, most companies have adopted a conservative approach in this matter – eschewing programmes and projects that could be construed to be linked to business goals. Those that have ventured beyond this paradigm have largely utilised CSR to achieve the limited goals of Community Risk Mitigation and Reputation Enhancement.

    Community Risk Mitigation by providing for the development of surrounding communities has been a staple approach of many manufacturing firms. The rationale behind this approach, is that by building civic infrastructure in local communities, and by catering to the demands of local influencers, manufacturing firms can to an extent ameliorate the friction that exists with local communities due to their extraction of local natural resources. However, most firms have not approached this exercise in a strategic manner – not enough emphasis has been paid to mapping community dynamics and real community needs before embarking on such initiatives. In the absence of such data, decision making on the ground has been driven by unreliable signals from local community leaders – which has limited the business impact of such initiatives.

    Sattva_Insights_BusinessValue

    Reputation Enhancement through CSR seeks to create positive perception gains (brand value) for companies by associating the company’s brand with resonant social issues and by promoting their work in these areas. Efforts in this domain have ranged from the cavalier – thinly disguised advertorials posing as public service announcements, to the farcical – plaques and signboards on infrastructure projects which are unlikely ever to be seen by the firms target consumers. Very few companies have been able to create robust communication strategies for their CSR programmes – that can reinforce positive perceptions and sustainable benefits. Where such channels do exist, misalignment between a company’s core business interests and it’s chosen social agenda, has limited the uptake of such messaging.

    It is our opinion that to fully realise the potential of the Corporate Social Responsibility law, it is necessary for CSR programmes to explore models that can create tangible business value – that which is evident in a company’s topline/bottom line – in addition to those that create measurable social impact. Without such a symbiotic relationship between impact and business value, corporate interest in social good is likely to remain perfunctory. In such a scenario, CSR actions will continue to be dictated solely by compliance and spends are unlikely to ever exceed the mandated 2%.

    What then are some models for creating business value through CSR that companies can explore?

    1) Market Creation: CSR programmes provide a unique opportunity for corporates to expand their interests beyond their traditional markets and customers. CSR programmes can thus be utilised by corporates to test and refine new business models that allow them to cater to underserved customer groups and untapped markets.

    An example of such an approach can be found in the CSR programmes of a leading construction materials manufacturer. This company’s CSR is geared towards expanding the company’s footprint in underserved rural and peri-urban markets by providing youth from these communities with the necessary skills and knowledge to establish their own construction businesses. Over the past 3 years, this company has trained over 1500 youth as a part of this programme, over 30 of whom have gone on to establish their own construction related businesses– an outcome that has had a small but non-negligible impact on this company’s business performance. The ultimate promise of this programme is for it to transcend its CSR origins and be taken up as a core business initiative – a process that is currently underway in this company.

    Another example of market development through CSR can be found in L&T Finance’s Digital Sakhi initiative. Digital Sakhi aims to provide digital financial literacy and entrepreneurship trainings to rural women through a training-of-trainers approach. The business rationale for the programme is that by educating women about financial services, and by helping them establish successful businesses, L&T Finance can in the future benefit from any increase in the credit appetite/credit worthiness of this important customer segment.

    2) Talent Development: CSR programmes can be effectively utilised by companies to develop, enhance and retain their internal talent pool. As much as it is true, that the social sector can benefit from corporate skills and expertise, it is also true that working to solve wicked social challenges can help corporates develop unique capabilities that sets them apart from their competition. Social problems represent some of the most wicked challenges faced by human-kind. The complex interplay of technical, economic, cognitive, normative and political forces that characterise such problems, require the adoption of unique methods of analysis and problem-solving. By exposing their workforce to such challenges, companies can look to build the capacities of its people in some of these approaches which also have wider business applicability. Systems thinking, design thinking, empathetic listening are just a few examples of the capabilities that exposure to the social sector can help inculcate in employees.

    Allowing avenues for employees to engage in meaningful and challenging work, can also help companies to retain prized talent. The sense of fulfilment and achievement that employees derive from being engaged in such work, can add significantly to their overall job satisfaction, which in turn is likely to improve retention rates.

    The Genpact Social Impact Fellowship (GSIF) provides an interesting example of a CSR programme that is attempting to create business value in this fashion. GSIF provides an opportunity for Genpact employees to help social organisations solve process related challenges. The structure of the association with the non-profits mirrors a typical consulting engagement, with the fellows working closely with the host organisations programme staff and leadership in an advisory capacity for the period of one year. This allows the GSIF fellows to not only cultivate a strong understand of critical socio-economic issues, but also gives them a hands-on opportunity to apply their Lean, Six Sigma, Design Thinking, Digital and Analytics skills to transform existing processes, making them more effective, sustainable and scalable. After the completion of their fellowships, GSIF fellows are actively re-absorbed back into Genpact’s core organisation – with management paying active interest in their career growth paths. The management team at Genpact strongly believes in the potential of GSIF fellow to become future business leaders at Genpact and looks to invest in them accordingly.

    3) Product Innovation: CSR also provides an opportunity for companies to expand their portfolio of products and services beyond their traditional areas of operation. Companies can leverage their core technical expertise to develop solutions that have the potential to deliver business value as well as social impact.

    Technology companies have been at the forefront of product innovation driven by corporate responsibility. For example, Microsoft recently launched an Adaptive Controller for the X-Box that allows people with limited mobility to access its flagship video game platform. The Adaptive Controller was developed by Microsoft through strong partnerships with non-profits including The AbleGamers Foundation, The Cerebral Palsy Foundation, SpecialEffect and Warfighter Engaged. Input from these organisations helped shape the design, functionality, and packaging of the Adaptive Controller. This innovation was featured by Microsoft in a 60 second ad titled ‘We All Win’ which was telecasted during Super Bowl 2019. The ad highlighted Microsoft’s commitment to building accessible technology that levels the playing field and creates opportunity for all, ending with the line: “When everybody plays, we all win.”

    Another example closer to home is Google’s work in the educational technology space. Google recently launched its BOLO app in India, which leverages the power of Google Voice Assistant, to help improve children’s reading abilities. The app contains a library of stories which students can use to practice their reading. The apps voice recognition functionalities track the students’ reading fluency and provide support and encouragement as required. The beta version of the app is currently available for download in Google’s Playstore, but is also being introduced in low income communities through the help of various of non-profit partners. The BOLO app represents an attempt by Google to further expand and diversify its presence in the Indian market, by providing another solution that specifically caters to the demands of its growing Indian user base.

    In conclusion, it is obvious to us that the spirit of CSR must be distinct from the spirit of philanthropy. Where philanthropists seek to redistribute their accumulated gains, CSRs must work to grow the pie – for society and for themselves. As can be seen from the examples cited here, it is indeed possible for companies to operate in such a manner where their own interests align with those of society. It is incumbent upon CSR practitioners and advisors to motivate companies to pursue this path.

    —————————————–

    Prateek Jain works as a Regional Sales Head at Sattva. He is passionate about promoting shared value and responsible business practices amongst corporates.

    Sattva has been working with various corporate clients to help them define their social impact goals and maximise the return on social investment. Our focus is to solve critical problems and find scalable solutions. We assist companies in formulating their long-term CSR strategy by strategically aligning with business to provide meaningful solutions to social issues.

    ● You can read more about our work with CSR, here.
    ● Talk to us: impact@sattva.co.in

    Conservation Research in India – Gaps and Opportunities

    Conservation Research in India – Gaps and Opportunities

    – By Shrutee Ganguly and Arnab Mukherjee

    India, in addition to being a land of incredible biodiversity, is also the second most populous country in the world – housing ~18% of the world’s population with only ~2.5% of global land share. Increasingly, this rapidly growing population coupled with a push for strong economic growth, leading to increased demand for resources, has placed tremendous stress on the natural ecosystems of this country.

    Conservation research is essential to enable science-based management of the environment in its myriad forms such as freshwater availability, efficient use of natural resources, air pollution and biodiversity. Research not only impacts the immediate choice of conservation methods but is also expected to influence government policies which in turn has a longer-term impact on the ecosystem.

    The Union Government along with NITI Aayog provides the necessary legislation and lays down the thrust areas for conservation research and related initiatives in the country. Relevant line ministries (such as Ministry of Water Resources, Ministry of Environment, Ministry of Agriculture etc) draw up missions, schemes and programmes along the lines of which specific projects are conceived and funds allocated. The state governments also allocate funds for conservation related initiatives through relevant departments such as the forest department and water resources department. Together, the Union and State Governments provide the lion’s share of financial assistance for conservation effort in the country.

    Yet, for NGOs looking to conduct research in conservation, this source of funds remains largely inaccessible.

    There is a growing perception in the NGO world that the government metes out preferential treatment to the autonomous institutes and central universities, given that they are funded by the government. Government officials however deny any such preference and point towards various factors such as quality of proposals, NGO capability and so on as the key reason for this apparent bias. Hence, international grants from donors such as US Fish and Wildlife Service, Rufford Foundation, IUCN, GEF and others continue to be the lifeline of most NGOs.

    Increasing number of corporates are looking to fund environment projects, largely in areas such as waste management, rainwater harvesting and funding flagship government schemes such as Namami Gange. Conservation efforts however continue to remain low on the priority list of most corporates hence meagre amount of CSR funds are allotted to it if at all. There are some notable exceptions such as Godrej, DHL, NSE and Jet Privilege. In addition, corporates prefer quicker returns or visible validation of impact and hence focus more on implementation projects as opposed to research.

    Our view is that allocation of CSR funds for conservation research requires a shift in corporate vision from immediate or short-term returns to a more longer-term strategic perspective where a study on a specific aspect of conservation is followed up with on-ground implementation.

    The situation, however, is not as desperate as it appears for NGOs. Through extensive research and client engagement, Sattva recognises the following areas that can be leveraged to function successfully within the existing conservation ecosystem.

    Fig 1. Five levers to create competitive advantage in the conservation research space

    Sattva, through its experience in the environment space has emerged as a trusted advisor for corporates and organisations. Over the years, Sattva has developed multiple models of engagement to support sustainable solutions on the ground for maximum impact.

    Fig 2. Sattva models of engagement

    —————————————————————————————————-
    Sattva has been working with various corporate clients to help them define their social impact goals and maximise the return on social investment. Our focus is to solve critical problems and find scalable solutions. Several corporates have been a partner to many such collaborations where effective CSR programmes have strategically aligned with business and have provided meaningful solutions to social issues.

    ● To read more about our work with CSR, check: https://www.sattva.co.in/our-work/
    ● Talk to us: impact@sattva.co.in

    Sector-wise CSR Analysis

    BACKGROUND – CORPORATE SOCIAL RESPONSIBILITY

    In 2014, India became the first country in the world to mandate CSR spend through legislative action. The legal mandate on CSR applies to companies that have:

    a.Net worth of INR 500 Crore or more, OR
    b.Annual turnover of INR 1000 Crore or more, OR
    c.Net profit of INR 5 Crore or more.

    Companies thus coming under the CSR mandate, have to spend at least 2% of their average net profits of the preceding three years on social impact programmes in every financial year.

    In the first 3 years of implementation of this law, over 29000 companies have come under the CSR ambit. Cumulatively they have spent over INR 41,396 Crore over a period of 3 years.

    In this report, we have analysed the cumulative 3-year sector-wise CSR spend by the entire set of companies (total of 29190), using the data made available by the Ministry of Corporate Affairs as of January 2019.

    SECTOR-WISE TRENDS

    Sattva_Sector-wiseCSRData
    Sattva_Sector-wiseCSRData

    Education is the most popular choice of sector for CSR projects receiving 25% of the total CSR -more than 10,000 Crore -between 2014-2017. In fact education alone received as much funding as the next 2 sectors –healthcare and rural development –combined!

    The top 3 sectors comprising of education, healthcare and rural development together received 50% of the total CSR fund. Remaining 50% is spread over 25 different sectors.

    (Please note that the data for FY 2016-17 is not fully updated on MCA portal (as of Jan ‘19). An updated version of this report will be available on www.sattva.co.in and www.IndiaDataInsights.com in June 2019.)

    You can find our data on the sector-wise trends here.

    Part 1 of our blog, on CSR Compliance, in this series is available here.

    Part 2 of our blog, on Region-wise CSR analysis, in this series is available here.

    Part 3 of our blog, on Industry-wise CSR analysis, in this series is available here.

    To explore the nuances of CSR – compliance, analysis and more – talk to us today at impact@sattva.co.in

    Industry-wise CSR Analysis

    BACKGROUND – CORPORATE SOCIAL RESPONSIBILITY

    In 2014, India became the first country in the world to mandate CSR spend through legislative action. The legal mandate on CSR applies to companies that have:

    a.Net worth of INR 500 Crore or more, OR
    b.Annual turnover of INR 1000 Crore or more, OR
    c.Net profit of INR 5 Crore or more.

    Companies thus coming under the CSR mandate, have to spend at least 2% of their average net profits of the preceding three years on social impact programmes in every financial year.

    In the first 3 years of implementation of this law, over 29000 companies have come under the CSR ambit. Cumulatively they have spent over INR 41,396 Crore over a period of 3 years.

    In this report, we have analysed the cumulative 3-year industry-wise CSR spend by the entire set of companies (total of 29190), using the data made available by the Ministry of Corporate Affairs as of January 2019.

    INDUSTRY-WISE TRENDS

    So who are the big spenders and in which sectors and which regions?

    Two industries – BFSI and IT/ITES – together contributed 30% (INR 12,658 Crore) to corporate India’s total CSR fund in 3 years (2014-17) and education is the most popular sector overall.

    On the whole, companies spend the most on CSR projects that are pan-India in scope. The next big recipient of CSR money overall is the Western region.

    All figures in the following charts are cumulative spend over 3 years, unless otherwise specified.

    Sattva_CSR_Industry-wiseTrends
    Sattva_CSR_Industry-wiseTrends

    (Please note that the data for FY 2016-17 is not fully updated on MCA portal (as of Jan ‘19). An updated version of this report will be available on www.sattva.co.in and www.IndiaDataInsights.com in June 2019.)

    You can find our data on the Industry-wise trends here.

    Part 1 of our blog, on CSR Compliance, in this series is available here.

    Part 2 of our blog, on Region-wise CSR analysis, in this series is available here.

    To explore the nuances of CSR – compliance, analysis and more – talk to us today at impact@sattva.co.in

    Region-wise CSR analysis – Feb 2019

    CORPORATE SOCIAL RESPONSIBILITY

    In 2014, India became the first country in the world to mandate CSR spend through legislative action. The legal mandate on CSR applies to companies that have:

    a.Net worth of INR 500 Crore or more, OR
    b.Annual turnover of INR 1000 Crore or more, OR
    c.Net profit of INR 5 Crore or more.

    Companies thus coming under the CSR mandate, have to spend at least 2% of their average net profits of the preceding three years on social impact programmes in every financial year.

    In the first 3 years of implementation of this law, over 29000 companies have come under the CSR ambit. Cumulatively they have spent over INR 41,396 Crore over a period of 3 years.

    In this report, we have analysed the cumulative 3-year CSR spend by the entire set of companies (total of 29190) on the regional distribution of CSR using the data made available by the Ministry of Corporate Affairs as of January 2019.

    Sattva_Region-wiseCSRAnalysis
    Sattva_Region-wiseCSRAnalysis

    So, where is India’s CSR money going?

    As per the the CSR law provision :
    “the company needs to give preference to the local area and areas around where it operates, for spending the amount earmarked for Corporate Social Responsibility activities.”

    How does it affect the CSR reach into areas that need the development capital the most?

    (Please note that the data for FY 2016-17 is not fully updated on MCA portal (as of Jan ‘19). An updated version of this report will be available on www.sattva.co.in and www.IndiaDataInsights.com in June 2019.)

    You can find our data on the Region-wise CSR analysis here.

    Part 1 of our blog, on CSR Compliance, in this series is available here.

    To explore the nuances of CSR – compliance, analysis and more – talk to us today at impact@sattva.co.in

    Region-wise CSR Analysis – Aug 2018

    CSR funds are an important source of capital for social impact projects and implementing organisations. How is the regional distribution of the origin, spend and circulation of CSR funds in India?

    This paper analyses region-wise trends, mostly in visual format. Download to receive a copy of the report in your mailbox.

    Where is India Inc.’s CSR money coming from?

    Continuing our analysis on region-wise CSR fund generation, investment and circulation in India (Part 1,  Part 2 and Part 3 here) –

    The visualisation below provides insight on the regional distribution of companies generating CSR funds in excess of a Crore annually :

    We have plotted average annual CSR spend for all companies spending more than a crore annually on CSR in India. Each dot on the graph represents a company. Companies are sorted region-wise and appear in the order of their year on incorporation (on X axis).

    We find that out of 24,000 companies in our data-set, only 1,258 (About 5%) companies are above 1-crore annual CSR spend threshold. Together, these 5% companies generate a total of INR 24,697 crore (88.4%) out of the entire INR 27,950 crore CSR corpus in India.

    At a regional level, the highest concentration of these companies is in the West, North and South region (1158 out of 1258 or 92.1%).

    In these three regions, average annual CSR fund per company is the highest for North region (INR 7.6 crore) followed the West region (INR 6.6 crore).

    In contrast, companies in North East and Central region generate a much higher CSR fund on a per-company annual average basis. While the All India average for this parameter is INR 6.5 crore per company per year, the same for North East and Central region is INR 18.8 crore and INR 17.2 crore respectively.

    Fewer and bigger companies Vs high concentration of smaller companies – what’s working well for CSR in each region? Stay tuned as we bring more insights on this.

    Meanwhile, do share/comment/like and help more of your network think through this!

     

    CII Global Sports Summit ‘Scorecard’ 2018

    The fourth edition of CII Global Sports Summit ‘Scorecard’ 2018 is scheduled to be held on 26 – 27 July 2018 at Hotel Le Meridian, New Delhi. The mission of the initiative is to get 300 crore children to play for an hour every day and the theme for this year’s summit is – ‘Sports @ 2022: Making India Play’

    The CII Sports ‘Making India Play’ fund aims to invest in sports development so that sports education and sports infrastructure become more accessible to the youth of the nation. CII believes that sports is a tool for social inclusion and allowing it to grow beyond leagues and sponsorships can turn India’s sporting vision into reality.

    The event will bring together top names from India and overseas operating in various segments of sports. Key industry stakeholders will have the opportunity to deliberate and discuss the most suitable course of action for boosting sports in India with a focus on sports education in schools.

    At the event, our CEO, Srikrishna Sridhar Murthy will moderate a session on ‘CSR Funding in Grassroot Sports’ on 27 July from 10:00 – 11:00 hrs.

    Sattva is privileged to partner with CII-Sports for this transformative initiative.

    Be there to know how you can support every child’s hour of play. Register here.