What Is Corporate Social Responsibility?

By Author: vidya chetana
Total Articles: 59
Comment this article

Corporate Social Responsibility or CSR is a set of policies and practices that a business undertakes with the objective to ensure betterment of the society and the environment where it functions. It reflects the commitment and accountability that a business or a corporate hold towards the well-being of the larger community. CSR efforts primarily focus on environment sustainability, philanthropic responsibility, ethical practices, and participating in local causes.
Benefits of CSR
Corporate Social Responsibility is a way of inculcating pro-social objectives while strategizing for profits. It makes companies morally responsible for their actions which in the long run secures the well-being of the society, environment, as well as the economy. While the receivers of CSR projects benefit significantly, the giving organisation also benefits in multiple ways:
- Improves brand image favourably among consumers, investors, and regulators.
- Improves employee engagement and satisfaction, resulting in better retention.
- Facilitates re-strategizing and innovation in operational and manufacturing processes ...
... to ensure reduced carbon footprint and overall well-being of the society.
Government rules for CSR in India
India is the first country to make Corporate Social Responsibility mandatory for businesses. The Companies Act 2013 states that companies with a net worth of INR 500 crore or more, or an annual turnover of INR 1,000 crore or more, or a net profit of INR 5 crore or more, has to spend 2% of their average net profits of three years on CSR. This statutory obligation makes philanthropy compulsory and businesses answerable for their social responsibility.
Types of CSR activities
Companies can undertake several activities that directly impacts the environment or the society at large. Some of the social causes that businesses contribute to are education for underprivileged children, healthcare, poverty, hunger, and women empowerment. In addition, corporates also engage in pro-environment causes such as clean-up drives, tree plantation, recycling workshops etc. Contributing towards disaster relief is also one of the CSR activities undertaken by many companies.
CSR partnership with charitable organisations
While the government mandates philanthropic activities for companies, NGOs open up a world of CSR opportunities for these companies. Fundraising is a critical aspect for all NGOs, and support whether big or small is always welcome. These NGOs deal with a host of issues ranging from hunger to human rights to environment. And engaging with them results in proper investment and tangible impact.
Meet your CSR obligations with Vidya Chetana
Education is a fundamental right, yet is not accessible to children belonging to the bottom rung of the society. Vidya Chetana is an NGO that works to ensure accessibility of education for underprivileged children.
- Vidya Chetana is a registered NGO.
- It has been supporting education of underprivileged children since 2009.
- The beneficiaries belong to socio-economically backward communities, are specially-abled, and those who lost their parents in COVID-19.
- With the funds raised from donors, this NGO provides financial help to children for higher studies in PUC (10+2), Degree, Engineering, and Medical courses.
- So far, it has supported education of 5,775 children.
Engaging with this NGO for CSR in India will empower children and significantly contribute towards giving them a better future. It will also align your company with five UN SDGs: No Poverty, Quality Education, Gender Equality, Decent Work and Economic Growth, and Reduced Inequalities.
Ways to engage with Vidya Chetana
As a CSR partner with Vidya Chetana,
- You can directly donate a lumpsum of funds to support education of a group of children.
- Conduct an Employee Giving Campaign and motivate your employees to contribute towards education for underprivileged children.
- Engage with the NGO to conduct developmental activities for children.
- Spread the word about Vidya Chetana in your business network and encourage them to support.
Support this NGO for CSR in India and make your business instrumental in creating generations of empowered citizens. Join the league of Vidya Chetana’s corporate partners today!
Author Profile:
Vidya Chetana Scholarship Program is an initiative of Youth for Seva to support higher education of socio-economically underprivileged children. Your support will help children wanting to pursue PUC (10+2), Degree, Engineering, and Medical Courses. Your contribution towards Scholarship Program will help children continue their education as well as qualify you to receive tax exemption on your donated amount (₹500 & above).

For further information click on the links below:
https://vidyachetana.in/csr-partnership
https://vidyachetana.in/
https://vidyachetana.in/sponsor-a-child