The unwavering commitment of Bharat Forge to social welfare, environmental conservation, and gender equality positions it as a key player in India’s CSR landscape, setting a benchmark for responsible and impactful corporate conduct.
PUNE (India CSR): Bharat Forge Limited, one of India’s leading manufacturing companies, has been actively involved in numerous Corporate Social Responsibility (CSR) initiatives, aligning its actions with the Government’s vision for social development and community needs.
A global diversified business group with businesses in the automotive, aerospace, industrial, and renewable energy sectors operates under the guidance of its CSR Committee Leaders, focusing on a wide array of community development projects.
By maintaining a balance between immediate community needs and long-term sustainable development, the company is contributing to the holistic development of communities.
Sustainable Business and Social Betterment
The socially responsible company believes in integrating sustainable business practices to benefit both society and business growth. Its CSR policy encompasses a broad spectrum, including village development, education for underprivileged children, skills development, health, cleanliness, women empowerment, and environmental protection. All initiatives fall within the framework of Schedule VII of the Companies Act, 2013.
“Our CSR Committee Leaders guide us in this mission, ensuring we give back to the community each year.”, Dr. Leena Deshpande, Head CSR, Bharat Forge said.
Holistic Village Development: A Vision for Sustainable Community
Bharat Forge Limited is on a mission to transform and uplift 100 marginalized villages in Maharashtra, with a focus on sustainable development and enhancing the quality of life for all residents. The key development areas include improving water availability, livelihood enhancement, education, healthcare, and infrastructure.
Financial Stewardship: Ensuring Accountability in CSR Spending
The financial transparency provided by Bharat Forge in its CSR reporting reflects the company’s commitment to accountability and responsible spending. By detailing the allocation of funds across various initiatives and overheads, the company ensures that stakeholders are well-informed about the impact of its CSR activities. The transfer of unspent funds to the Unspent CSR Account further demonstrates the company’s intention to continue its community development projects, ensuring that resources are utilized effectively and efficiently.
Response to COVID-19: Aiding Communities in Distress
In light of the COVID-19 pandemic, the Pune based forging conglomerate initiated several aid programs aimed at addressing the socio-economic disruptions caused by the crisis. These initiatives also included awareness campaigns on sanitation, social distancing, and preventive measures to mitigate the spread of the virus.
Key Highlights of CSR Initiatives: A Significant Impact on Lives and Livelihoods
Promoting Education and Skill Development
Bharat Forge has placed a strong emphasis on education and skill development as pivotal components of its CSR strategy. Last year the company has contributed to the non-formal education of approximately 14,000 children in 130 slum communities, ensuring that education is accessible to the underprivileged sections of society.
“Our projects span across various sectors, showing our commitment to comprehensive community development.”, Dr. Leena Deshpande further added.
Additionally, the company has established Centers of Excellence (CoE) and Incubation Centre, which focus on imparting new-age skills such as IoT and Artificial Intelligence. Through these initiatives, the company is not only contributing to the immediate educational needs of communities but also preparing the youth for future challenges and opportunities.
Enhancing Health and Well-Being
Health and well-being have been another significant focus area of Sustainable Development priority. The company has set up multiple telemedicine centres and conducted several health camps, catering to the medical needs of rural communities.
These initiatives have played a crucial role, especially during the COVID-19 pandemic, ensuring uninterrupted access to healthcare services. Furthermore, cancer screening camps specifically targeting rural women have been organized, underlining the company’s commitment to addressing gender-specific health issues.
Empowering Women: A Step Towards Gender Equality
In alignment with its commitment to women empowerment, Bharat Forge has initiated several programs aimed at providing vocational training, business enterprise support, and other essential resources to women. These initiatives are designed to foster an entrepreneurial ecosystem, enabling women to become self-sufficient and contribute meaningfully to their communities.
The company’s efforts in this domain reflect a broader commitment to promoting gender equality and empowering women from underprivileged sections of society.
Environmental Conservation: A Commitment to Sustainability
Bharat Forge has also been proactive in addressing environmental issues, contributing to water conservation and tree planting initiatives.
Over 2 lakh trees have been planted, and various water harvesting structures have been established, conserving thousands of cubic meters of water. These initiatives underscore the company’s dedication to environmental sustainability and its recognition of the vital role businesses play in conserving natural resources.
A Glance at CSR Impact: Quantifying the Change
The company’s CSR efforts have resulted in significant impacts across various sectors:
- 231,544 lives positively influenced
- Empowerment of over 950 women
- Aid to 35,387 individuals through drinking water initiatives
- Improvement of 16,363 acres of land
- Support for 4,744 women through health camps
- Installation of water filters at 10 locations
- Construction of 67 Kms of roads
- Removal of 21,80,726 cubic meters of silt
- Enhancement of education in 39 schools
- Positive impact on 190,000 rural lives
- Influence on 34,589 students
- Participation of 3,000 volunteers per year
- Support for 5 sportsperson
- Skill development for 3,000 youth
Looking Ahead: Ensuring Continuity and Commitment
Bharat Forge remains committed to its CSR initiatives, with plans to continue funding and executing projects in a phased manner. Unspent amounts from ongoing projects have been transferred to the Unspent CSR Account, as per the company’s annual report.
This move ensures that the funds are earmarked for future community development projects, maintaining the company’s commitment to social welfare and sustainable development.
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