CORPORATE SOCIAL RESPONSIBILITY (“CSR”) is a sense of responsibility towards the society and the environment where it operates to meets or exceeds the ethical, legal, commercial and public expectation. Being a good corporate citizen Estate Science will always endeavors to give its best to the society, where it operates and will always be there to contribute to the sustainable development of the society and environment, and to make our planet a better place for future generation.
Every year, each Central Public Sector Enterprises shall with the approval of its Board of Directors make a budgetary allocation for CSR and Sustainability activities / projects for the year. The budgetary allocation will be based on the profitability of the company. More specifically, it will be determined by the Profit after Tax (PAT) of the company in the previous year as shown here under:
|PAT of Central Public Sector Enterprises in the previous year||Range of Budgetary allocation for CSR and Sustainability activities (as % of PAT in previous year)|
|(i) Less than Rs. 100 Crore||3% - 5%|
|(ii) Rs. 100 Crore to Rs. 500 Crore||2% - 3%|
|(iii) Rs. 500 Crore and above||1% - 2%|
For all CPSEs having PAT above Rs. 500 Crores in the previous year, the range of budgetary allocation for CSR and Sustainability activities has been raised to 1%-2%. All CPSEs shall strive to maximize their spending on CSR and Sustainability activities and move towards the higher end of their slabs of budgetary allocation.
Sick or loss making companies or those having a negative Net Worth are not mandated to earmark specific funds for CSR and Sustainability activities. However, they must pursue CSR and Sustainability policies by integrating them with their business plans, strategies and processes, which do not involve any financial expenditure.
in addition, they may try to attain CSR & Sustainability objectives through the adoption of innovative methods for water, waste and energy management, reduction of carbon emission, preservation of bio-diversity, and production of goods and services which are consumer and environment friendly, without any additional cost.
They may also collaborate with the profit making CPSEs and assist them in ingenious ways without financial support in CSR and Sustainability activities
Estate Science comprises of its own CSR cell which will provide solutions to the other companies who wants to go for CSR. Planning, guiding and executing are the three aspects or the services which we will provide to our clients for CSR management.
Estate Science ecosystem provides you with access to an ever-growing network of NGOs to address social issues as well as reach out to the bottom-of-the-pyramid (BoP) markets. We can partner with you to provide inputs on corporate social responsibility (CSR) initiatives that address core business needs, advice on effective ways of engaging with the community, design social initiatives, coordinate implementation of programs as well as measure the impact of your initiatives. We also facilitate corporate-NGO partnerships that will help you reach out to the BoP markets for creating awareness about and selling your products and services.