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Karmayog finds that only 10 Indian companies make the grade in corporate social responsibility. A Moneylife report Companies with A Conscience At a time when ethical investing and corporate social responsibility (CSR) have become buzzwords, not a single one of India's top 1,000 companies obtained the highest grade (Level 5) for their CSR activities; only 10 made it to Level 4. The study by Karmayog, an extremely popular web-based networking platform and support system for activists, examined effects of their products and processes on the environment and initiatives to optimise resource utilisation to benefit society. The information is collated from annual corporate filings and excludes companies that manufacture liquor, tobacco, genetically-modified crops or are in businesses that adversely impact environment. Karmayog found that 493 of ACC is among the first to include commitment to environment protection as a corporate objective. It is active in quarry rehabilitation afforestation, energy conservation, emission control and water management. Ballarpur Industries is committed to `conduct its business in a responsible manner'; its farm forestry project develops nurseries, supports tree plantation and provides seeds to farmers at subsidised rates. It also helps marginal farmers to take up pulpwood plantation on degraded land through joint liability groups. HDFC's core business itself has a strong CSR element in promoting home ownership. It supports home ownership through micro-finance for low-income housing. It partners over 160 organisations in community development, education, environment and child welfare projects. Infosys focuses on education and research. It has equipped libraries of 10,150 rural schools in Karnataka. The Infosys Foundation supports activities like rehabilitation of old school buildings, helping artists and artisans to preserve and revive cultural and artistic traditions and aiding the destitute and economically disadvantaged. Jubilant Organosys is active in healthcare and education, energy conservation, water management, recycling waste and reducing emissions from its plants. Kansai Nerolac Paints is the rare paint company that takes responsibility for the entire product life-cycle -- from design to disposal. It has developed environment-friendly paints by reducing the use of pollutants like metal-based pigments & dyes. It is also active in health, education and community development. Moser Baer has set up a trust for improving health and livelihoods and works at creating jobs and digital literacy. It supports recycling of plastics, anti-piracy, activity, education and disaster management. Tata Steel works systematically to 'minimize damage and negative impact of its processes' and has several projects focused on improving the quality of life of those connected with the company as well local rural and tribal communities. It has high standards of environment management including emission reduction and waste disposal. TCS is committed `to minimize waste generation from business operations through renewable and recycling initiatives that include building `green' facilities, rainwater harvesting and recycling IT hardware'. It also designed CHILDNet, a call-receiving software and database for CHILDLINE's 24-hour helpline. Its `computer based functional literacy' software has benefited over 100,000 people. Titan Industries considers CSR `an internal process reflecting the soul of the Company'. It provides significant employment opportunities to the physically challenged, outsources manufacture of watch components through self-help groups and is active in education and healthcare projects. Pg. 66 of MoneyLife Magazine issue dated 21 May 2009 |
