Ch 12 Corporate Social Responsibility Corporate social responsibility

Ch 12 Corporate Social Responsibility

Corporate social responsibility • Social responsibility as it applies to businesses concerns a company’s duty to – Operate in an honorable manner – Provide good working conditions for employees – Be a good steward of the environment – Actively work to better quality of life in • Local communities where it operates and • Society at large

CSR • Nearly all leading corporate in India are involved in corporate social responsibility (CSR) programmes in areas like education, health, livelihood creation, skill development, and empowerment of weaker sections of the society. • Notable efforts have come from the Tata Group, Infosys, Bharti Enterprises, ITC Welcome group, Indian Oil Corporation.

CSR • India has been named among the top ten Asian countries paying increasing importance towards corporate social responsibility (CSR) disclosure norms.

CSR • Although corporate India is involved in CSR activities, the central government is working on a framework for quantifying the CSR initiatives of companies to promote them further. • According to Minister for Corporate Affairs, Mr. Salman Khurshid, one of the ways to attract companies towards CSR work is to develop a system of CSR credits, similar to the system of carbon credits which are given to companies for green initiatives.

CSR • Moreover, in 2009, the government made it mandatory for all public sector oil companies to spend 2 per cent of their net profits on corporate social responsibility.

Dlf’s Corporate social responsibility Rural Development Programmes (RDP) • Primary Health Centres: In June 2007 DLF partnered with Deepalaya-an NGO for setting up DLF Rural Medical Primary Health Centres. The first such centre is being set up in Village Shikohpur, District Gurgaon catering to all the residents of Shikohpuir as well as adjoining villages. It is proposed to set up 6 such Primary Health Centres in the current financial year • Rural infrastructure development works including interalia a) Internal road construction work in villages Wazirabad and Chakarpur , District Gurgaon b) Electrification in villages Chakarpur and Nathupur, District Gurgaon

Dlf’s Corporate social responsibility Urban Community Development Programmes (UCDP) • Facilities for Construction Workers: To improve the living conditions of construction workers by providing them all the basic necessities at the site itself. The labour set up at various DLF site is with electricity, fans, beds and linen facilities and a separate washing and toilet block –all easily approachable by paved roads. The contract for housekeeping including sanitation for the area is being taken care of by an independent agency.

Dlf’s Corporate social responsibility • Moreover, facilities like canteen, 24 -hour ambulance on site and medical help, and mobile crèches to take care of the children eight hours a day - are all part of the setup. • One such site also houses a residential non -profit school in carpentry and masonry for training potential employees. This is an ongoing project currently being executed in over 17 construction sites benefiting approximately 20, 000 construction workers.

Dlf’s Corporate social responsibility Retail Space Utilisation DLF has given free space to a few NGOs like Khusboo Welfare Society, India Vision Foundation, Rashtriya Blind School in the DLF Shopping Malls to enable them to exhibit their products for awareness and to create awareness for the causes they espouse.

Dlf’s Corporate social responsibility Education • DLF running a formal school called the Summerfield School in DLF Phase-I, which caters to 1800 students of the area. • DLF also runs an informal school for the underprivileged called the Swapana Sarthak School. • This school managed by trained volunteers conducts classes for the children who are ill equipped to join regular school or who cannot afford to do so. • All children are enrolled and provided with uniforms, mid-day meals and learning material free of cost.

Dlf’s Corporate social responsibility DLF Learning Excellence Centre • To facilitate education in 25 villages in the state of Haryana, in May, 2007 DLF has partnered with Pratham, an NGO that will organise DLF Learning Excellence Centres in each of these villages by involving the government schools, community teachers and introducing innovative teaching learning material. • This is an ongoing project likely to benefit 900 students over a period of one year