Top 13 CSR Fund Providing Companies

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Top 13 CSR Fund Providing Companies

CSR is a tool good intended companies use to bring a positive change in society and the country. Many CSR fund providing companies also use CSR activities to gain their customer trust. It’s a win-win strategy, especially in an era where consumer consciousness is high. And the actions of companies are under constant scrutiny.

What Exactly is CSR?

In India, we know of many companies that carry out philanthropic activities voluntarily. But in the year 2013, the Indian government has brought a law that made this voluntary contribution mandatory. India is the first country in the world to do so.

As per the Companies Act 2013, companies that fall under particular criteria are mandated to spend a part of their profits for the betterment of society as Corporate Social Responsibility (CSR). Companies qualifying the criteria are required to form a CSR committee and spend 2% of average profits for the previous three financial years on CSR activities.

The qualifying criteria:

• A company with a net worth of Rs. 500 crores or more, or • A company with an annual turnover of Rs. 1000 crores and more, or

• A company that generates a net profit of Rs. 5 crores or more

Following the criteria, major Indian businesses fall under the list of companies doing CSR activities. You must understand that the type of companies providing CSR in the country is from diverse fields. And their CSR activities are also diversified.

CSR providing companies include both private companies and public sector companies. As per Schedule VII of the Companies Act 2013, CSR providing companies can contribute towards the following:

1. Eradicating hunger, poverty and malnutrition

2. Promoting education

3. Promoting gender equality

4. CSR initiatives related to the environment

5. Protection of national heritage, art and culture

6. Take measures that can benefit armed forces veterans, war widows, and their families

7. Contribute towards PM National Relief Fund or any other Central Government fund for the welfare of the SCs, STs, Women, minorities and backward classes

8. Contribute towards development of technology in Central Government approved academic institutions

9. Contribute towards rural area development and slum area development

Most of the CSR providing companies implement CSR activities by hiring other implementing agencies. A few projects they take up on their own. But, all the projects must be vetted by their respective CSR committees.

Among the hundreds of CSR providing companies, a few stand out. Here is a list of the top 20 CSR fund-providing companies in India. The companies are selected according to their CSR spending for FY 2019-20 as listed in theNational CSR Data Portal.

1. Reliance Industries Ltd (RIL)

Among the CSR providing companies, RIL tops the list. The petroleum to telecom conglomerate had the highest CSR spending for FY 2019-20 at Rs. 908.71 crores. The company’s major CSR focus areas are

i. Health

ii. Education

iii. Rural transformation

iv. Sports for development

v. Women empowerment

vi. Disaster response

vii. Art, culture, heritage and environment

For RIL, CSR is a part of its business strategy where its business priorities coexist with the social commitment of holistic development of people and communities. The company has embedded the philosophy of inclusive growth into its CSR policy.

2. Tata Consultancy Services

The IT sector giant had spent Rs. 602 crores for FY 2019-20 as part of its CSR. TCS has three focus areas

i. Education and Skill-building

ii. Health and Wellness

iii. Environment sustainability

A flagship CSR initiative of TCS is the ‘Adult Literacy Program.’ Launched in 2000, ALP helps adults learn, read, write and perform basic arithmetic within a short duration.

In the environment sustainability segment, the IT giant has partnered with a local NGO, Sahayadri Nisarga Mitra (SNM), in Maharashtra to protect Olive Ridley turtle hatchlings.

On the health and wellness front, TCS is lending its helping hand in cancer care, the construction of sanitation facilities, and more.

3. Oil and Natural Gas Corporation Ltd (ONGC)

The public sector behemoth is the most forthcoming in the list of companies doing CSR activities. Having spent over Rs. 500 crore in the FY 2019-20, the oil sector giant had spent this amount on numerous initiatives.

ONGC has touched almost every CSR activity listed in the Companies Act 2013. It predominantly carries out its CSR activities through implementing agencies.

4. Tata Sons Private Limited

Tata Sons Pvt Ltd has been a pioneer in synergizing business strategies with community development since its establishment in the year 1868. The founder Jamsetji Tata’s words affirm this. He said, “In a free enterprise, the community is not just another stakeholder in business, but is, in fact, the very purpose of its existence.”

For the fiscal year 2019-20, Tata Sons spent Rs. 548.83 crores on three development sectors. They are:

5. HDFC Bank Ltd

Among the public and private sector banks, HDFC bank leads the list of companies doing CSR activities. The bank undertakes a variety of CSR activities under ‘Parivartan,’ a sustainable livelihood development initiative. HDFC collaborates with implementing partners for its CSR activities.

The focus areas of the bank are:

i. Rural development

ii. Skills Development & livelihood enhancement

iii. Promotion of education

iv. Healthcare & hygiene

v. Financial literacy & inclusion

6. Indian Oil Corporation Ltd

IOL had spent Rs. 518 Crores in the FY 2019-20 on numerous initiatives. The oil giant’s thrust CSR areas are:

i. Safe drinking water and protection of water resources

ii. Healthcare and sanitation

iii. Education and employment-enhancing vocational skills

iv. Empowerment of women and socially/economically backward groups

Among the CSR providing companies, IOL has a unique approach to CSR. The company has launched many schemes like IndianOil Aarogyam, IndianOIL Vidushi, IndianOil Gyanodaya, etc., to pursue its CSR.

Infosys carries out its CSR activities through Infosys Foundation under the charismatic leadership of Sudha Murthy. Ever since its inception, Infosys Foundation impacted millions of people through its activities. It has six major focus areas.

i. Hunger, poverty, malnutrition and healthcare

ii. Education

iii. Rural Development

iv. Gender equality and empowerment of women

v. Environmental sustainability

vi. National heritage, art and culture

The company has received many awards and accolades for its CSR initiatives.

8. Bharat Petroleum Corporation Limited

Bharat Petroleum, with a motto of ‘energizing grassroots,’ has taken many CSR initiatives. The company had contributed Rs. 345 crores in the FY 2019-20 towards CSR. It has five core areas

i. Education

ii. Water Conservation

iii. Health & Hygiene

iv. Skill Development

v. Community Development

7. Infosys Limited

9. Power Grid Corporation of India Ltd

Power Grid Corp is another public sector giant that actively contributes to the social-economic development of the country. With spending of Rs. 346 crores in FV19-20, the PSU is the ninth highest among CSR providing companies. Its thrust areas are:

i. Healthcare

ii. Promoting education

iii. Rural development

iv. Ecology & Environment

v. Drinking water & sanitation

vi. Skill development

10. ITC Limited

Through its successful CSR initiatives, the FMCG giant has provided livelihood opportunities for over six million people across the country. The company focuses its CSR activities majorly on the farming community. ITC collaborates with NGOs for project implementation.

ITCs programs support

Primary education

Skill development and vocation training

Health and sanitation

Solid waste management

Watershed development

Afforestation

Women’s economic empowerment and more

11.

National Thermal Power Corporation Ltd (NTPC)

NTPC has incorporated CSR as its business philosophy and actively contributes towards societal development. It has launched the NTPC Foundation for this purpose. NTPC’s CSR initiates have touched over a million people across 500 villages. The focus areas are:

i. Basic infrastructure development

ii. Education

iii. Community health & sanitation

iv. Capacity building

v. Gender empowerment

12. Hindustan Zinc Limited

Through its CSR activities, Hindustan Zinc has taken upon itself the responsibility of improving the lives of rural and tribal people around its plants. Hindustan Zinc has been among the top 15 highest CSR contributors ever since CSR was made mandatory in 2013.

In 2020, Hindustan Zinc received the prestigious CSR Health Impact Award for the category CSR COVID Relief Project.

NTPC has incorporated CSR as its business philosophy and actively contributes towards societal development. It has launched the NTPC Foundation for this purpose. NTPC’s CSR initiates have touched over a million people across 500 villages. The focus areas are:

i. Basic infrastructure development

ii. Education

iii. Community health & sanitation

iv. Capacity building

v. Gender empowerment

12. Hindustan Zinc Limited

Through its CSR activities, Hindustan Zinc has taken upon itself the responsibility of improving the lives of rural and tribal people around its plants. Hindustan Zinc has been among the top 15 highest CSR contributors ever since CSR was made mandatory in 2013.

In 2020, Hindustan Zinc received the prestigious CSR Health Impact Award for the category CSR COVID Relief Project.

A Helping Hand

These twenty and many other CSR providing companies are lending a helping hand to the marginalized in the society and thereby contributing towards national development. When more such companies come together, many socio-economic problems that are bedeviling the country can be eradicated.

i2u Social Foundation

Thousands of NGOs in the country are working towards various socio-economic issues. Many are willing to implement CSR activities of Corporate but are unable to find the right channel to connect with them. Here is where i2u Social Foundation comes in.

We provides CSR opportunities for NGOs. We partner with verified NGOs across India. i2u social foundation has twelve focus areas - literacy and education, health and nutrition, environmental conservation, women empowerment, poverty alleviation, care for the elderly, animal welfare, skill development, and inclusivity for people with disabilities, child welfare, water and heritage.

For corporates, i2u Social foundation helps manage their CSR activities by providing comprehensive CSR support services.