Corporate Social Responsibility
Corporate Social Responsibility and Sustainability is turning to be an integral part of the strategy of Companies, now a days. Every organization tries to build a higher degree of transparency and accountability; and attempts to initiate such measures that can enhance equity and promise about inclusive growth.
Statutory Compliance Requirement in India:
According to the Companies Bill 2012, companies who have either a net profit of 5 crores or a turnover of 1000 crores have to report on the earmarked 2% of average net profit of the preceding three years for CSR.
As per SEBI guidelines, inclusion of Business Responsibility Reports as a part of their yearly reports for listed entities is mandatory. With an objective to enhance the quality of disclosures of industries, Department of Public Enterprises mandates to allocate 1%-5% of the PAT of the previous year for Corporate Social Responsibility for Central Public Sector Enterprises.
From the previous CSR Guidelines 2010 and SD Guidelines 2011, DPE Guidelines for CSR and Sustainability 2013 is a major development, where both CSR and Sustainability have been merged to:
- Impact the disadvantaged
- Bring about more inclusive growth
- Protect and preserve the environment to sustain growth.
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Sustainability reporting solutions
Planning and consulting solutions for funding grants etc.
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Providing independent assurance to customer on reports wherever required and much more