Corporate Social Responsibility and its Impact on Fund Development
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According to the World Business Council for Sustainable Development, corporate social responsibility is the continuing commitment by businesses to behave ethically and contribute to sustainable economic development while improving the quality of life of workers and their families, as well as of the local community and society. Learn about related objectives around the world, hear success stories, watch engaging videos, and see the future of fund development strategy as it relates to this topic.
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Corporate Social Responsibility and its Impact on Fund Development
- 1. Corporate Social Responsibility and its Impact on Fund Development Moderator: Trustee Sushil Gupta Date: 25 June 2018
- 2. Session Panelist : PDG Vinay Kulkarni PDG Sharat Chandra PP Rakesh Bhargava PDG Luis A Johnson Trustee Bryn Styles PDG Vinod Bansal
- 3. Moderator Trustee Sushil Gupta Moderator Trustee Sushil Gupta
- 5. Offers an opportunity to: Partner with Corporates for community projects New avenue of fund raising Implement sustainable, impactful projects Long term partnerships Corporate Social Responsibility
- 6. Corporate Social Responsibility CSR is ever growing and evolving: Perceived differently through the times An integrated business strategy Need to strengthen policies, practices and compliances around the globe European Union- pioneer to promote CSR
- 7. Triple Bottom Line PEOPLE PLANET PROFIT PURPOSE & VISION
- 8. Session I- The Indian Experience Session Chair: PDG Vinay Kulkarni (D3131) Panelist : PDG Sharat Chandra (D3110) PP Rakesh Bhargava (D3131)
- 9. Session I- The Indian Experience Chair PDG Vinay Kulkarni (D3131)
- 10. Mandated under Section 135 of Companies Act 2013 2% of Corporate net profits to be spent on CSR activities Rotary’s Areas of Focus aligns with Schedule VII activities of Companies Act 2013 Mandatory compliance of CSR activities with Government of India Changes expected during Parliament session in this year. The Indian Experience
- 11. Implementation of 24 global grants through CSR funds US$ 1.5 million for an amount over US$ 2 million Service opportunities now expanded Corporate-Rotary collaboration promotes rich, long-term, working relationships More community needs can be fulfilled CSR funds available for FY 2018-19 – US$ 2000 million Pilot extended till June 2020 The Indian Experience
- 14. PDG Sharat Chandra (D3110)
- 15. Highlights of D 3110 In RY 2016-17, three CSR contribution amounting to US$ 242,100 3 Global Grants – one each in BEL, WASH and DPT Great opportunity to our district that is an active grant implementing district Bigger contributions are under discussion. Opportunity to partner with Corporates is more now because of the mandate.
- 16. Our Strategy Reach out to Rotarians who have their own Corporates An opportunity to get funds for impactful projects Corporates are convinced of the good work of Rotary and willing to partner Cath lab project funded by RDS Ltd is one such example for partnership
- 18. Cath lab project of RDS (US$ 363,750)
- 19. PP Rakesh Bhargava (D3131)
- 20. Mode of CSR Implementation 57 Companies used all modes of CSR Spend Direct 227 Companies Implementing agencies 321 companies Corporate Foundation 110 companies
- 21. Options for Corporates Through Company’s own Foundation or Trust Through Company’s Internal Department Through NGOs (Must have Three years of Credible Track Record) Our Target Companies
- 22. Our Strategy Identify Rotarians who have close contact with CEOs as friends or clients Study companies’ CSR policies and present projects in line with their policies and explain numerous benefits of partnering with Rotary Solicit partnership and get approval of global grant project Submit timely report on completion of the project and felicitate the donors at every opportunity
- 23. Highlights of D 3131 RY 2016-17, the first CSR contribution from Gestamp Automotive Ltd. RY 2017-18, the first CSR contribution from Foseco India; 5 CSR contributions so far from 4 companies amounting to US$ 243,000. The first repeat CSR contribution from Gestamp Automotive Pvt Ltd
- 25. TATA Technologies Mr Anubhav Kapoor General Counsel Company Secretary Head- Corporate Sustainability
- 26. Session II- Prospects of CSR with special reference to Australia and Canada Session Chair : Trustee Sushil Gupta Panelist : PDG Louis A Johnson PRID & Trustee Bryn Styles
- 27. Session II- Prospects of CSR with special reference to Australia and Canada Chair Trustee Sushil Gupta
- 28. Global Perspective Corporate Social Responsibility is the continuing commitment by business to behave ethically and contribute to economic development while improving the quality of life of the workforce and their families as well as of the local community and society at large.
- 29. Global Perspective Corporate realization of doing businesses beyond financial profits and be a part of evolving social strata is the crux to economic success It is in this spirit of doing more that many basic tenets of CSR rest
- 30. Developing Countries- A new step South Asia Scenario : Per recent amendment of the Industrial Enterprise Act, 2073 of Nepal, section 47 Large or Medium and Small scale Domestic industry having more than 15 crore Nepali rupees of turnover in a year has to spend at least 1% of the annual profit mandatorily on activities of CSR for the community services as set by the Government of Nepal.
- 31. PDG Louis A Johnson Chartered Accountant Chair - Associate Foundation in Australia Member – Rotary International Finance Committee
- 32. Prospects of CSR - Australia In Australia, the practice has been celebrated most prominently as the Prime Minister’s Community Business Partnership and the promotion of a social coalition. The Community Business Partnership initiative included legislative changes to encourage corporations and high wealth families to create “private charities”.
- 33. Prospects of CSR - Australia New charities known as Private Ancillary Funds (PAFs) and PuAFs Funding entities only Must distribute 5% of assets each year Must distribute to “public charities” with DGR status Very successful $1b pa after 15 years
- 34. Prospects of CSR - Australia Opportunities and challenges for TRF Rotarians must be central to all activities. Have the right structure Corporations with trust deficits Protecting our brand
- 35. Entities received Top CSR Awards
- 36. PRID & Trustee Bryn Styles
- 37. Ways to Practice CSR Environmental Efforts – carbon footprint, W&S Philanthropy – donating to causes & projects Ethical Labor Practices – international companies Volunteering – express concern for specific issues related to your industry
- 38. CSR – Financial Times Definition Movement aimed at encouraging companies to be more aware of the impact of their business on the rest of society, including their own stakeholders and the environment. Corporate social responsibility (CSR) is a business approach that contributes to sustainable development by delivering economic, social and environmental benefits for all stakeholders.
- 39. CSR – Canadian Gov’t Definition Voluntary activities undertaken by a company, over and above legal requirements, to operate in an economically, socially and environmentally sustainable manner
- 40. “Doing Business the Canadian Way” The Government of Canada’s expectation that Canadian companies will promote Canadian values and operate abroad with the highest ethical standards Outlines the Government’s initiatives to help Canadian companies strengthen their CSR practices and maximize the benefits their investments can provide to those in host countries
- 41. “Doing Business the Canadian Way” Companies are expected to align with CSR guidelines and will be recognized by the CSR Counsellor’s Office as eligible for enhanced Government of Canada economic diplomacy. As a penalty for companies that do not embody CSR best practices and refuse to participate in the CSR Counsellor’s Office or the dispute resolution processes, Government of Canada support in foreign markets will be withdrawn
- 42. Another Acronym – RBC Responsible Business Conduct Respect for human rights and is consistent with applicable laws and internationally recognized standards Positive voluntary contributions are good for the companies and the local communities Contributions of a company’s time, talent and treasures
- 43. Another Acronym – RBC Responsible Business Conduct Avoiding negative impacts and addressing them when they occur In areas where local laws are not aligned with Canadian values – reflect Canadian values Proper due diligence – be prepared to forfeit HOW a company does business!
- 44. Rotary and Canadian CSR Ethically – operate in an ethical manner Service – volunteer in areas of concern Needs Assessment- involving local stakeholders regularly and for decision process Local Capabilities – Global Grants The Four Way Test
- 45. Session III- Concluding Session Moderator for Q & A : PDG Vinod Bansal Concluding remarks :Trustee Sushil Gupta
- 46. Moderator for Q & A PDG Vinod Bansal
- 47. Concluding Remarks Trustee Sushil Gupta
- 48. Concluding Remarks CSR funds has given new directions to fund raising in today’s world India has mandated it as law but the concept is not new to other countries of the World Businesses are coming together to work for better civil society CSR is the heart and soul of all successful modern Corporations and is an important standard of corporate governance.
- 49. Concluding Remarks CSR is Making a Difference today and let us Be the Inspiration for future projects
- 51. This presentation and others from throughout the convention are available through the convention mobile app and on SlideShare at www.SlideShare.net/Rotary_International.
- 52. Rate this session in the Rotary Events app, available in your Apple or Android app store.
Notes de l'éditeur
- Opportunities for Rotary and likeminded entities. Develop long term relationship with Corporates across Pan-India.
- 1960s - corporate social responsibility attracted attention from businesses and stakeholders in regard to its benefits. CSR has been perceived differently at different time period and different levels but the overriding concept has been doing good in the world. In 1991 – CSR definition extended from the traditional economic and legal responsibility to ethical and philanthropic responsibility. It was demonstrates that corporate social responsibility is made up of four responsibilities or it cannot be achieved - economic, legal, ethical and philanthropic responsibilities. Similarly, Business Dictionary defines CSR as "A company's sense of responsibility towards the community and environment (both ecological and social) in which it operates. Companies express this citizenship (1) through their waste and pollution reduction processes, (2) by contributing educational and social programs and (3) by earning optimal returns on the employed resources.
- Commitment to corporate social responsibility (CSR) implies a commitment to transparent reporting about the business' material impact for good on the environment and people. Triple bottom line is one framework for reporting this material impact. The triple bottom line (TBL) approach additionally takes into consideration environmental and social factors and unifies the three pillars, which are often also referred to as ‘people, planet, profit’. People, the social equity The people, social equity, or human capital pertains to fair and beneficial business practices toward labour and the community and region in which a corporation conducts its business. The Global Reporting Initiative (GRI) has developed guidelines to enable corporations and NGOs alike to comparably report on the social impact of a business. Planet, the environment The planet, environmental or natural capital refers to sustainable environmental practices. A TBL company endeavors to benefit the natural order as much as possible or at the least do no harm and minimize environmental impact. Profit, the economics The profit deals with the economic value created by the organization after deducting the cost of all inputs, including the cost of the capital tied up. It therefore differs from traditional accounting definitions of profit. In the original concept, within a sustainability framework, the "profit" aspect needs to be seen as the real economic benefit enjoyed by the host society. It is the real economic impact the organization has on its economic environment.
- It was Jamshedji Tata, the doyen of Tata group, who pioneered the philosophy of Corporate Social Responsibility and all of his companies have continued to work for the betterment of the society.
- Rotary started this pilot phase in India in October 2016 and have since then have received over a million US $ 1.5 million as CSR funds from various companies. RY 2016-17 – 7 Grants - CSR funds - US$ 432,840 & grant funds - US$ 728,247 RY 2017-18- 17 Grants - CSR funds - US$1,012,818 & Grant funds – US$1,542,186 Interestingly, CSR funds have been primarily received for BEL, WASH and DPT AOF. All grants are currently under implementation and necessary formats of Corporate reporting is also being signed as part of MOU. A relationship has begun with Corporate entities and this has made a huge difference both for Rotary and the Corporates. Partnerships have expanded our service activities. I want you to hear two of our stalwarts who have had hands on experience in this partnership and activity.
- Sharat - Number of funds From city of Taj Mahal and few industries in the state –politically volatile. How we convinced the Corporates Successful Collaboration – Add photographs and Videos
- We must use the marketing principle of market segmentation. Rotary will not be able to offer much value addition to the companies which have their own foundation or trusts or internal department to carry out CSR work. Our target donor companies are those who need an execution partner NGO for their CSR projects. Rotary with its excellent track record of community service in India is an ideal partner
- Rakesh - Smart City with many corporates offices How we convinced the Corporates –Do not have staff to carry out CSR projects on their own. Pune has a large workforce of highly educated and skilled managers and workers which makes it very attractive for MNCs. There a large number American, German, Swedish, Japanese, Spanish and Korean MNC subsidiaries in Pune
- . PDG Vinay Kulkarni to introduce Anubhav Kapoor
- Source:- The world Business council for sustainable development
- You have heard success stories from India. In global scenario, it is has become an accepted phenomenon. To be successful, it is important for businesses to involve all stakeholders.
- Small countries like Nepal has also mandated CSR. Bangladesh is also working towards CSR- for the textile hub. Let us hear our fellow Rotary leaders from Australia /Canada
- Lou Johnson- Please add notes
- Top ten awards in Australia for CSR
- As you can see there are many ways how companies can exhibit CSR and philanthropy is one of those – such as India Reducing carbon foot print Ethical labour practices – especially in areas of the world where some of the workers are most vulnerable to exploitation Volunteering in areas of concern for your company – shows that your company has a true interest in improving conditions
- If you look at the Financial Times definition of CSR it goes beyond the financial responsibility of companies to support charitable causes It is asking companies to be aware of the impact of their business on the rest of society – including their own stakeholders (note it says stakeholders and not shareholders) and the environment It talks not only of the economic benefit but also of the social and environmental benefits of being a responsible corporate citizen
- The Canadian Government definition of CSR is very similar to the industry standard The government puts the onus on the companies to voluntarily operate in a manner that reflects CSR in the key areas of economics, social and environment – these activities are over and above the legal requirements Canadian government takes the CSR of Canadian companies quite seriously – specifically in various sectors such as mining and the garment industry -
- The GOC has a document called "Doing Business the Canadian Way: A Strategy to Advance Corporate Social Responsibility in Canada’s Extractive Sector Abroad" Initiated in 2009 and updated in 2014 – the strategy is to be updated every 5 years. It is a document that outlines the GOC expectation that Can Companies will promote Canadian values and operate with the highest of ethical standards. The Canadian Govt will support Canadian businesses that adopt the CSR approach to international business – especially those in the extractive industry – The Can Govt has staff working thru our diplomatic network offering support to Can businesses operating internationally This is to ensure a consistently high level of service Reinforces Canadian leadership, excellence and best practices in various sectors. Some of the things that businesses are encouraged to do: - Respectfully engage relevant stakeholders, early on and regularly; - Understand local customs, culture and expectations, and how they affect, and are affected by, the project – needs assessment - Work with stakeholders to determine and communicate environmental, social and economic impact solutions; - Explore opportunities to build local capabilities; - Work with locals to develop a joint plan to contribute to local development; and - Strategically incorporate this information throughout their planning and management structures
- The Canadian Govt offers support to companies operating abroad but will withdraw support if it is felt that companies are not following the guidelines. Companies are expected to align with CSR guidelines and will be recognized by the CSR Counsellor’s Office as eligible for enhanced Government of Canada economic diplomacy. As a penalty for companies that do not embody CSR best practices and refuse to participate in the CSR Counsellor’s Office or NCP dispute resolution processes, Government of Canada support in foreign markets will be withdrawn;
- Human rights – ensuring that recognized standards are adhered to Voluntary contributions -
- If there is potential negative impacts (mining etc.) address them immediately – again thru stakeholder involvement If local laws do not reflect Canadian values, find ways to reflect those values but still respect the local laws Companies should be prepared, after proper due diligence in assessing the risks, to decide if they wish to proceed CSR and RBC – it is about how you do business -
- One thing I found interesting was how closely the Canadian document Doing Business the Canadian Way reflects Rotary’s values Ethically – operating in an ethical manner Service – volunteering in areas of concern in an area Needs Assessment – involving stakeholders early and often Global Grants – use local suppliers and workers – Can Govt is asking to enhance local cababilities
- CSR – a step forward for all entities to partner and make this place a better place to live.
- CSR – a step forward for all entities to partner and make this place a better place to live.
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