NEW DELHI (India CSR): Hindustan Unilever Limited (HUL) has demonstrated its commitment to corporate social responsibility (CSR) by spending Rs. 233.73 crore on CSR activities in the fiscal year 2023-24. This figure surpasses the mandatory CSR spending calculated based on the company’s profits.
HUL’s CSR extends beyond philanthropy, encompassing holistic community development, institution-building, and sustainability-related initiatives.
HUL allocated its CSR spending to the following areas:
- Direct Project Funding: Rs. 204.52 crore was directly allocated to various CSR projects.
- Administrative Expenses: Rs. 10.50 crore was spent on administrative tasks related to the execution of CSR projects.
- Impact Assessment: Rs. 1.11 crore was invested in assessing the impact of its CSR initiatives.
- Unspent CSR: HUL transferred Rs. 17.60 crore to the Unspent CSR Account in FY 2023-24 for ongoing projects.
Over the past three financial years, HUL has shown a significant trend of unspent CSR funds. This is a matter of concern as it indicates that allocated funds for social welfare projects may not be effectively utilized.
Key areas of HUL’s CSR initiatives include:
- Water Conservation and Hygiene
- Waste Management and Regenerative Agriculture
- Education and Skill Development
- Social Advancement and Gender Equality
HUL’s CSR strategy goes beyond conventional corporate philanthropy, integrating sustainable community development into the core of its business operations. FY 2023-24 is a testament to HUL’s enduring commitment to fostering an inclusive and sustainable future, not just for the company but for the wider community it serves.
Also Read:
CSR Spending Review: Hindustan Unilever for the Year 2023-24
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