YC Deveshwar led ITC Limited, a multi-business conglomerate, has released the 15th Sustainability Report for the year 2018. According to the report, company has spent Rs 291 Crore in various corporate social responsibility (CSR) programs in India for the period of April 1, 2017 to March 31, 2018.
“The expenditure incured under section 135 of The Companies Act, 2013 on CSR actitivities is Rs. 2.91 Billion (2017- Rs 2.76 Billion)”, report revealed.
As per the report, the footprint of the Company’s Social Investments Programme (SIP) projects is spread over 25 states covering 188 districts.
All these programmes fall within the purview of Schedule VII of the provisions of Section 135 – Companies Act, 2013 and the Companies (Corporate Social Responsibility Policy) Rules, 2014.
Area of Work
Health & Sanitation, Drinking Water, Eradication of Poverty, Education, Vocational Training, Livestock Development, Livelihood Generation, Women Empowerment, Environment Sustainability, Soil & Moisture Conservation, Social Forestry, Protection of national heritage, art and culture and Agri Development.
CSR and Sustainability Committee
The CSR and Sustainability Committee presently comprises the Chairman of the Company and five other Non-Executive Directors, two of whom are Independent Directors. The Chairman of the Company is the Chairman of the Committee. The Company Secretary is the Secretary to the Committee.
Role of CSR Committee
The CSR and Sustainability Committee, inter alia, reviews, monitors and provides strategic direction to the Company’s CSR and sustainability practices towards fulfilling its Triple Bottom Line objectives.
Annual CSR Plan
The Committee seeks to guide the Company in integrating its social and environmental objectives with its business strategies and assists in crafting unique models to support creation of sustainable livelihoods. The Committee formulates & monitors the CSR Policy and recommends to the Board the annual CSR Plan of the Company in terms of statute. The Committee also reviews the Business Responsibility Report of the Company.
ITC’s overarching aspiration to create significant and sustainable societal value is manifest in its CSR initiatives that embrace the most disadvantaged sections of society, especially in rural India, through economic empowerment based on grassroots capacity building.
“Towards this end, the Company has adopted a comprehensive CSR policy outlining programmes, and plans to undertake projects and activities to create a significant positive impact on identified stakeholders.”, said report.