The continuous increase in CSR expenditure and the positive impact on communities highlights the company’s dedication to social welfare.
NEW DELHI (India CSR): In the fiscal year 2023-24, Adani Enterprises substantially contributed Rs. 26.06 crore towards its Corporate Social Responsibility (CSR) activities, significantly impacting 3,34,940 lives. This contribution marks a noteworthy increase in the company’s CSR expenditure over the past few years, showcasing its unwavering commitment to social welfare and sustainable development.
Steady Increase in CSR Expenditure Over the Years
Gautam Adani-led Adani Enterprises has consistently increased its CSR spending, reflecting its dedication to making a positive social impact. The company’s CSR expenditure over the past three fiscal years highlights this growth:
FY 2021-22: Rs. 12.87 crore
FY 2022-23: Rs. 17.75 crore
FY 2023-24: Rs. 26.06 crore
Here is the updated table including the total CSR expenditure over the three fiscal years:
| Fiscal Year | CSR Expenditure (in crore) | Growth % |
|---|---|---|
| FY 2021-22 | 12.87 | 0.00% |
| FY 2022-23 | 17.75 | 37.92% |
| FY 2023-24 | 26.06 | 46.82% |
| Total | 56.68 |
Total CSR Spending Over Three Years
By aggregating the CSR expenditures over the three fiscal years, Adani Enterprises has invested a total of Rs. 56.68 crore into various social initiatives aimed at improving the quality of life for communities across India.
Strategic Focus and Implementation
The CSR initiatives of Adani Enterprises are driven by a well-defined strategy aimed at community welfare and sustainable development. The CSR Committee, which is responsible for identifying initiatives, recommending budget allocations, and overseeing implementation, ensures that all activities align with the company’s strategic priorities and comply with legal requirements.
Key CSR Projects and Their Impact
The significant increase in CSR spending has allowed Adani Enterprises to undertake impactful projects. Two notable initiatives include:
Educational Support for Vulnerable Sections: By providing free or subsidized education to students from vulnerable communities, Adani Enterprises enhances social capital and opens up future opportunities for these students.
Environmental Sustainability: The company promotes biodiversity and enhances green cover through mass afforestation projects, contributing to environmental conservation.
Adani Foundation: The Backbone of CSR Initiatives
Since its establishment in 1996, the Adani Foundation has been the cornerstone of Adani Enterprises’ community engagement efforts. Operating in 6,769 villages across 19 states, the Foundation focuses on key areas such as education, health & nutrition, sustainable livelihood, community development, and climate action, positively impacting 9.1 million lives.
Educational Initiatives
The Adani Foundation’s educational programs aim to provide inclusive and affordable learning, especially for marginalized communities. With 36 schools, including four free Adani Vidya Mandir Schools, the Foundation’s initiatives like ‘Utthan’ enhance the quality of education in government schools and provide various support programs for students.
Health and Livelihood Initiatives
The Foundation’s health and sustainable livelihood programs aim to improve the well-being and lifestyles of target communities. These initiatives create long-term social outcomes, fostering a supportive ecosystem for community engagement and development.
Impact Valuation
An independent Social Return on Investment (SROI) study conducted in 14 villages surrounding Surguja in Chhattisgarh revealed the following returns on CSR initiatives:
Skill Development: SROI of 4.37
Education: SROI of 1.4
Health: SROI of 7.98
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