CSR - Corporate Social Responsibility

INTRODUCTION

Parle Elizabeth Tools Pvt. Limited is committed to identifying and supporting programs aimed at:

  • Developing and advancing the community and in particular, those at the bottom of the pyramid who are unequally endowed/enabled, and also
  • Reducing negative impact of its operations on the environment
This policy will serve as a guiding document to help identify, execute and monitor CSR projects in keeping with the spirit of the policy.

The CSR policy would function as a self-regulating mechanism for the Company’s CSR activities and enable adherence to Indian laws, ethical standards, and international practices in this regard.

VISION, MISSION & OBJECTIVES

Corporate Social Responsibility is the commitment of businesses to contribute to sustainable socio-economic development by working with the employees, their families, the local community and the society at large to improve their lives in ways that are good for business and for its development.

VISION
To ensure benefit to society and to the corporation for sustainable development by imparting measurable values to all stakeholders in every aspect of our operations. Ensuring Corporate Social Responsibility is adopted through principles implementations that contribute to our country's social, cultural, and environmental development and help in developing the awareness on these issues.

MISSION
To work on the popularity, adoption, and implementation of the concept of Corporate Social Responsibility while adding measurable values to the community and to our company along with managing related processes to the advantage of all concerned in a way that becomes model for other corporations for replication.

The Company’s CSR mission is to contribute to the social and economic development of the community. Through a series of interventions the Company seeks to mainstream economically, physically and socially challenged groups and to draw them into the cycle of growth, development and empowerment. At the core of this is its commitment to reach out to marginalized communities through its LEAP – “Livelihood Empowering Action Plans“ that ensures multi-stakeholders approach in creating a sustainable impact through various social-economic projects listed in “Annexure A”.

The Company’s strategy is to integrate its activities in community development, social responsibility and environmental responsibility and encourage each business unit or function to include these considerations into its operations.

OBJECTIVES
The CSR Policy is laid down by the Company to ensure that the:
• CSR agenda is integrated with the business
• Focused efforts are made in the identified community development areas to achieve the expected outcomes

CSR: GUIDING PRINCIPLES

Our CSR is to have

  • Respect for all stakeholders
  • Devotion to work ethics
  • Honesty in the flow of information
  • Continued relations based on customer satisfaction
All our CSR Activities relate to one or more activities listed in Schedule VII to the Act. This is subject to amendment of the Act and/or Rules from time to time.

The CSR Activities to be undertaken by the Company during each financial year along with the particulars of projects, planned expenditure and implementation schedule are outlined in Annexure I to this CSR Policy.

Overall governance of CSR and approving of the CSR Policy will be the responsibility of the CSR Committee of the Board. The CSR Team of the Company will be responsible for administering and executing the policy. As the Company’s CSR activities evolve further, the policy may be revised with the approval of the CSR Committee of the Board.

CSR COMMITTEE

The Company will institute a CSR Committee of the Board consisting of three or more directors. The Committee will meet at least two times in a year. The following shall be the terms of reference of the Committee.

  • To formulate the Company’s CSR strategy, policy and goals
  • To monitor the Company’s CSR policy and performance
  • To review the CSR projects/initiatives from time to time
  • To ensure legal and regulatory compliance from a CSR viewpoint
  • To ensure reporting and communication to stakeholders on the Company’s CSR projects/initiatives
Consistent with the above, the CSR Committee of the Board currently has the following members:
  1. Mr. Rajmal Mehta
  2. Mr. Mahendra Mehta
  3. Mr. Alok Gupta

CSR FRAMEWORK

The Company’s CSR activities will be driven by a dedicated CSR team under the guidance and support of senior functionaries, in particular, the CMD/MD. The CSR Committee would play a significant role in ensuring involvement of CSR across the company’s operations and the CSR programs are in line with the policy.

  • The CSR Committee shall monitor all CSR Activities, including utilization of funds to ensure their effective implementation in accordance with the CSR Rules read with Section 135 of the Act.
  • The CSR Committee shall conduct 2 meetings in a gap of six months every year wherein the committee shall review the CSR programs under implementation and also plan for the upcoming projects/programs.
  • The minutes of the meetings of the CSR Committee shall be placed before the Board.
  • The Company will conduct impact assessment on a periodic basis
  • The CSR Committee may be directed by the Board to present the cost incurred on CSR Activities annually.
  • The CSR Team would have the responsibility of monitoring approved projects and funds disbursals for such projects.
Monitoring mechanisms will Include visits, meetings and progress/status reporting by the project teams. The Company’s CSR activities will be reviewed by the CSR Committee.

CSR PROGRAMS/PROJECTS

The Company is highly supportive of the involvement of its employees in its CSR initiatives and in community activities/charities of their choice, and will therefore proactively engage with employees and other key stakeholders to solicit their active involvement in the Company’s CSR programs. To provide a focused and structured approach to the program, the Company will focus its support and CSR spends on specific pre-determined causes and Areas.

The CSR team would put up to the Committee appropriate details of proposed projects including implementation year, modalities of execution in the areas/sectors chosen, implementation schedules for the same etc. The CSR Committee will consider and approve (in line with the guidelines given below), CSR projects/programs to be undertaken during the year.

a) The Company will ensure that its CSR projects are non discriminatory in nature and do not have any restrictive political or religious affiliations.
b) The programs/ projects will be within the areas recommended / listed by the CSR Committee and mentioned in the Policy.
c) The programs/ projects will be beyond business as usual.
d) The programs/projects will be implemented within the country and preferably in areas where the Company has its presence.
e) The Company will actively consider Programs/Projects that have been identified by employees and also those where employees are directly involved through volunteering efforts
f) Programs/Projects that integrate business models with social and environmental priorities and processes in order to create shared value will be encouraged
g) The Company will consider Programs/Projects closely linked with the principles of sustainable development
h) Programs/Projects should not be exclusively for the benefit of employees of the company or their family members or those that are conducted /undertaken exclusively in pursuance of the normal course of business)Any surplus, generated out of the CSR activities of the Company, will be ploughed back to the CSR Initiatives of the Company.

“ANNEXURE A”

“Livelihood Empowering Action Plans”

(AREAS OF CSR INTERVENTION)

Enumerated below are the areas under which the Company will implement its CSR Projects. This will be reviewed from time to time by the CSR Committee of the Board and specific initiatives under these will be undertaken in line with the CSR Policy to meet the overall objectives of these interventions.

1. Empowering through “Livelihood Empowering Action Plans” - LEAP Category: Companies Act- 2013, Schedule VII (i) Eradicating Hunger, Schedule VII (ii) Livelihood Enhancing Projects, Schedule VII (ii) Empowering Women

The Company’s Sustainable Livelihood Initiatives are designed to empower thousands of people, particularly women in rural parts of India. Through this initiative, the Company reaches out to the underprivilegedsegments of society and in doing so, it seeks to help as many people as possible at the bottom of the pyramid by providing them with livelihood options. Under this project the Company will continue to support people (primarily woman) who are financially excluded through a holistic approach that will also offer training for enhancing occupation skills, financial literacy and market linkages.

2. Financial Literacy and Inclusion

Category: Companies Act -2013, Schedule VII (i) Promoting Education, Schedule VII (ii) Livelihood Enhancing Projects The Company believes that absence of financial knowledge can lead to poor financial decisions that can have an adverse effect on the financial health of an individual. The Company will endeavor to provide familiarity with and understanding of financial products, especially of rewards and risks, in order to better equip the financially excluded to make informed choices. These projects will endeavor to promote financial literacy amongst various segments such as students, senior citizens and others in the communities, directly or through implementing partners.

One of the main impediments to the increasing effective financial inclusion is the lack of credit in rural areas. The Company will seek to address this through innovative approaches, one of which will be through its ‘Grameen Mahotsavs’ that will provide information on financial products and services in particular to those in rural markets with limited access to financial services.

3. Promoting Education

Category: Companies Act -2013, Schedule VII (i) Promoting Education
Education is one of the building blocks of any nation. With the aim of having ‘every child in school and learning’ the Company’s interventions will aim at mainstreaming children and improving the quality of education they receive. A multitude of interventions such as educational sponsorships to students belonging to economically/socially/physically challenged categories, supporting the infrastructure or running cost of reading programs, libraries, supportive classes, computers, science laboratories, etc. will be undertaken to create a conducive learning environment and to promote learning. Within the scope of education, programs aimed at bridging the skill gap, in particular in the Companying industry, and transforming candidates into job ready professionals will also be covered.

4. Skill Training and Livelihood Enhancement Category: Companies Act -2013, Schedule VII (ii) Employment Enhancing Vocational Skills and Livelihood Enhancing projects A growing economy like India requires a large and skilled workforce. The Company’s skill training initiatives will aim at training and capacity development of youth and women from economically weaker sections of society, and to empower them to gain access to opportunities for sustainable livelihood and growth.

The Company will support technical training courses, Skill Development Centers, non formal vocational programs aimed at creating livelihood opportunities, soft skill training aimed to facilitate integration into mainstream and soft loans for self- financing of training. Under the scope of this initiative, the Company will also support upgrading skills and capacity building of farmers by introducing innovative methods of cultivation and creating market linkages.

5. Promoting Blood Donation

Category: Companies Act -2013, Schedule VII (i) Promoting Preventive Healthcare
Aimed at addressing the very critical issue of the availability of blood this initiate is currently one of the major areas in which the Company and its employees are actively engaged. The Company will continue to conduct Blood Donation Drives and will expand the same to support the set up of ‘Blood Storage Units’ in rural locations that do not have a blood Company’s, to ensure supply of blood.

6. Environmental Sustainability

Category: Companies Act -2013, Schedule VII (iv) Ensuring Environmental Sustainability, Conservation of Natural Resources and Maintaining the quality of soil.

Sustainability is one of the core values of the Company and climate change mitigation and environmental improvements are essential elements of its strategy for sustainability. The Company will initiate multiple projects implemented directly or through consultant partners to manage its emissions and to introduce environmental friendly practices. Social Communication will be used as an effective tool in influencing behavior and creating a sustainable environment for the community. The Company will encourage investment in energy efficient technology, developing socially and environmentally friendly products and services, improving access to water by creating/sponsoring irrigation and water storage structures, promoting public transport by creating appropriate infrastructure, benchmarking and reporting on Sustainability projects.

7. Eradicating Poverty

Category: Companies Act -2013, Schedule VII (i) Eradicating Poverty, Hunger and Malnutrition
The Company recognizes the need to reach out to those at the bottom of the pyramid by providing them with need based assistance. The Company will also encourage employees to continue to contribute to society by undertaking projects in their respective areas.

The Company’s Payroll Giving Program will encourage employees to donate a part of his/her salary. This amount may be matched by the Company and the combined amount donated by the employee to a cause of his/her choice. These causes may include providing rations/nutrition, medical care, supporting education, etc.

8. Rural Development

Category: Companies Act -2013, Schedule VII (x) Rural Development
With the objective of contributing to the improvement of the economic and social well-being of people in rural areas, the Company will initiate programs that empower the rural population. These will range from making financial services and products available to these areas and bringing them within the Companying fold, to creating innovative products to suit the requirements of the rural population. The Company will support projects providing electrification through solar or alternate methods, improving access to water, healthcare & sanitation, and construction & running cost of schools and health centers, amongst others.