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A N N O U N C I N G. Karmayog Corporate Social Responsibility Ratings 2007 of the largest 500 Indian Companies www.karmayog.org/csr. Summary of Presentation. Easy everyday examples of Social Responsibility. Easy everyday examples of social responsibility….
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A N N O U N C I N G Karmayog Corporate Social Responsibility Ratings 2007of the largest 500 Indian Companieswww.karmayog.org/csr
Easy everyday examples of Social Responsibility
So what is Corporate Social Responsibility?
What is Corporate Social Responsibility? Karmayog, a networking organization for social & civic issues, undertook a study of the CSR activities of the largest publicly listed 500 Indian companies so as to understand: • what is CSR (as there are many definitions) • what companies are doing as CSR • how CSR activities could be linked to the work of government, NGOs and others in the social and developmental sector This is the first time that a CSR Rating for companies has been undertaken in India or anywhere in the world.
What is Corporate Social Responsibility? The Karmayog CSR study led to some very clear & simple insights, that: “Every company harms the environment!” (Just as an individual does) Corporate Social Responsibility is thus only about two aspects: 1) Reducing the Negative Effects: Steps taken by a company to neutralise, minimise or offset the harmful effects caused by its processes and product-usage 2) Increasing the Positive Contributions: Further steps taken using its resources, core competence, skills, location and funds for the benefit of people and the environment
Results of the Karmayog CSR Rating 2007
Results of the Karmayog CSR Rating of the largest 500 Indian companies
Inferences from the Karmayog CSR rating exercise
Industry Sector–wise analysis of the CSR activities of the largest 500 Indian companies
CSR in 28 Industry Sectors An industry analysis of 28 sectors has also been done for the 500 companies (Number of companies in each sector is in brackets)
Sector Example - The Paper Industry * Note : Karmayog recommends that Companies spend a minimum of 0.2 % of sales on CSR activities annually
Compulsory CSR:- our 4 Recommendations
Voluntary CSR:- Our 7 Recommendations
NGOs Companies Citizens, Investors shareholders Media Industry & trade associations Researchers, students Govt. bodies Importance of the CSR Ratingsfor different stakeholders Every stakeholder has a role to play to make CSR effective and sustainable Diagram showing various stakeholders of CSR
Importance of the CSR Ratings for the Board of Directors • To sensitise directors & employees about the value of CSR • To implement international CSR guidelines and norms • To identify possible CSR activities • To learn from others’ CSR initiatives
Importance of the CSR Ratings for Government bodies • To develop industry-wise guidelines for CSR • To introduce laws to get companies to work effectively towards reducing environmental damage, and restoring the damage done by them (e.g. polluter-pays’ principle) • To introduce incentives to reward companies engaged in effective CSR • To enable companies to partner with government in implementing social welfare and developmental schemes (e.g. adoption of ITI’s)
Importance of the CSR Ratings for Industry & Trade Associations • To get a snapshot of the state of CSR & set benchmarks for companies to follow • To understand the huge scale and magnitude of the benefits that are possible if an entire sector spends even the recommended minimum amount on CSR • To work with Government and NGOs and international organisations to upgrade and improve CSR activities and to set milestones for companies • To prepare case studies, highlight best practices & give awards • To provide consultation on CSR
Importance of the CSR Ratings for NGOs • To know about the areas of CSR work undertaken by companies, thus enabling partnerships with them • To be able to identify companies which are not doing CSR or doing so in a token manner, so as to approach these companies to initiate meaningful projects • To assist companies to formulate CSR objectives, implement CSR activities, and monitor and evaluate their CSR activities
Importance of the CSR Ratings for Media • To stop eulogising corporate leaders whose companies are damaging the environment & harming lives • To present a clear view of CSR that is separate from philanthropy, charity, marketing, advertising, or expanding business scope, and to sensitise the public about this • To highlight companies practising good CSR, and to negate those companies which are actually engaged in marketing or advertising of their products or services under the guise of CSR • To encourage and enable business publications to have a regular feature or column dedicated to CSR initiatives along with feedback from NGOs and other stakeholders
Importance of the CSR Ratings for Researchers & Students • For researchers • To study CSR practices & results • To influence the shaping of CSR policy and regulations • For students and colleges / institutions • To be sensitised about the role and responsibility of companies • To understand the impact and consequences of everyday processes and actions • To develop a holistic view of life and living
Importance of the CSR Ratings for Citizens, Investors, Shareholders • To understand that as consumers and stakeholders of companies, we can and must influence companies to change harmful polices and adopt proper CSR practices (due to the huge impact and power that companies have on people and the environment) • To ensure that through our purchase choices, we get desirable values for society to be reflected in how companies do business
Closing Statement… • Enlightened businesses worldwide, small and large, have begun to realise that responsible practices enhance profitability & ensure long-term survival. Companies not doing CSR will not survive – it’s only a question of when. • For those companies which disrespect the environment or living beings, we, as responsible citizens, need to individually and collectively, reward or penalise them through our voices and our wallets
Jubilant Organosys, a pharmaceutical company, while acknowledging the harm caused in manufacturing its chemicals, actively works to minimise the damage. It is one of the 6 Indian companies that publish a Corporate Sustainability Report.“There are stakeholders who can voice their concerns today while we engage them. There is another category of stakeholders like flora, fauna and physical environment, whose voices we cannot hear, but who are affected by anthropogenic impacts of global population. The future generation is another important group of stakeholders that does not exist today but will be impacted by our activities………….”Jubilant Organosys Limited, Corporate Sustainability Report, FY 2007 Closing Statement
Karmayog Corporate Social Responsibility Ratings 2007of the largest 500 Indian Companies
