CSR Report Card: Where Companies Stand
hat can’t be measured, can’t be improved. That was the spirit behind our effort to gather data on how much listed firms are spending on CSR currently. It turned out to be one of the most difficult exercises we have undertaken. Despite reaching out to them individually, we realised that there are many, even among the top 100 firms by revenue, who don’t report their CSR spends or even declare the social causes they support. That’s because they aren’t required to do so by law. But all that will change when the new Companies Bill (which has already been passed by the Lok Sabha) becomes a law, possibly by the end of the year.
This data pack, compiled by CSRidentity.com, together with Forbes India, is still revealing enough, as it tells you how much each company will have to fork out on CSR, once they are bound by law.
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This is a good research; but please note that as per the New Companies Bill companies are not mandated to spend 2% of PAT rather they have to report on how much they have spend on CSR. This data they need to put in the public domain. We all get confused that companies are mandated to spend 2% of PAT.
Open for any further discussions on this.
Warm regards
Khurram
8800892410
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Khurram Naayaab | Manager – CSR and Social Compliance | Cairn India Limited |
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