Bosch India CSR policy deals with the objectives of the Company’s CSR initiatives, its guiding principles, thrust areas, responsibilities of the CSR Committee, implementation plan and reporting framework.
NEW DELHI (India CSR): The German multinational engineering and technology company – Bosch Limited has spent a sum of Rs. 22.46 crores on various Corporate Social Responsibility (CSR) initiatives in the financial year 2021-22.
The Company has fully spent the required amount towards Corporate Social Responsibility (CSR) and there are no unspent CSR amount for the year requiring a transfer to a Fund specified in Schedule VII to the Companies Act or special account in compliance with the provision of sub-section (6) of Section 135 of the said Act.
Its CSR budget calculated as 2% of the average profit of last three years stood at Rs. 21.58 crores. The average net profit of the company as per Section 135(5) for the year was Rs. 1,079 crores.
Thus, the company spent an excess amount of Rs. 88 lakhs on its CSR activities in the financial year 2021-22. Impact assessment of CSR projects was done by a team of experts from IIM (Nagpur). To optimize impact of its CSR activities, Bosch focuses its support and CSR spends on specific pre-determined causes and areas of interventions.
The study systematically assesses and understands the holistic socio-economic impact of various CSR initiatives carried out by Bosch Limited in FY 2020-21. This impact assessment study also satisfies the requirement of amended CSR rules ( the projects that are 1 year old and where the budget has been more than 1 crore). Of the total 10 projects covered here, two projects (BRIDGE and Upskilling Paramedics staff) have been implemented by the Company in both these financial years; hence additional information available was considered appropriately.
The Board of Directors at its meeting held on May 20, 2021 amended the CSR policy in line with the provisions of the Companies Act, 2013 and the Companies (Corporate Social Responsibility Policy) Amendment Rules, 2021. The CSR policy deals with the objectives of the Company’s CSR initiatives, its guiding principles, thrust areas, responsibilities of the CSR Committee, implementation plan and reporting framework.
The CSR Committee comprises of Bhaskar Bhat (Independent Director) as its Chairman, Hema Ravichandar (Independent Director), S.V. Ranganath (Independent Director), Dr. Gopichand Katragadda (Independent Director), Soumitra Bhattacharya (Managing Director), and Dr. Pawan Kumar Goenka (Independent Director) as its members.
To optimize impact of its CSR activities, Bosch focuses its support and CSR spends specific pre-determined causes and areas of interventions. The following CSR thrust areas of Bosch Limited are aimed to resolve specific social and community issues and enable the beneficiaries of these programs to secure a better tomorrow:
(i) Vocational training focused on employable skills.
(ii) Health, Hygiene and education.
(iii) Neighborhood projects as per the local needs identified by Bosch Plants/Offices.
Given the diverse CSR activities carried out by various entities of Bosch in India, such a comprehensive impact assessment has multiple advantages. It helps understand the overall societal impact of CSR initiatives and assess alignment among distinct CSR initiatives. The insights will be useful in devising mechanisms to ensure alignment and standardization across Bosch’s CSR and social engagement initiatives in the future. Finally, it will also help ensure higher uniformity of processes, policies, project selection, and CSR branding for Bosch in India.
Focus areas
Under the programme, classroom training is provided to underprivileged youth on soft skills such as life skills, communication, self-presentation, and industry-specific skills. It also offers on-the-job training and community development opportunities. The students get a Bosch learner kit, job placement support, and Bosch certification. The program is being provided to lesser-privileged youth across India through BRIDGE centers operating in ITIs, pre-university colleges/higher secondary schools, colleges offering Masters in Social Work, universities, and private vocational institutes.
Nearly 50,000 less-educated youth have been trained through BRIDGE and supported in entry-level jobs through 725 BRIDGE centers in over 500 districts. Further, the Management, Entrepreneurship, and Professional Skills Council gives joint certification with Bosch. Bosch has also partnered with Tata Steel and Sleepwell to share best practices and create a broader impact.
The program trained paramedics in two significant trades, viz. General Duty Assistant and Pharmacy Assistant (FY 2020-21) & Caregivers (FY 2021-22), in immediate response to the current healthcare needs arising from the COVID-19 pandemic. The three-month short-term training program comprising two months of classroom training and one month of On the Job Training (OJT) was offered in collaboration with Apollo Medskills in 2020-2021 and received assessment and certification by HSSC. In 2021-2022, it was implemented directly through BRIDGE centers and nursing colleges. Bosch provided assessment and certification to caregivers.
CSR at Bosch Limited
The Corporate Social Responsibility department at Bosch Limited was set up in the year 2013, much before the CSR act came into force in the Country. Since then, the Company has been running multiple programs to help the vulnerable and the marginalized sections of society.
Under its flagship skill development Program, BRIDGE, Bosch offers short-term, job-oriented training. In addition to the above, Bosch has enabled Primary Health Centers in Public Private Partnership (PPP) mode, sponsored free cataract surgeries for the rural elderly pan India, provided support to the people at the bottom of the pyramid through its project called CREDILA, educational support to Government school children etc.
