The Company believes that sustainable community development is essential for harmony between the community and the industry.
Jindal Steel & Power (JSP) reported Rs. 125 Cr CSR Expenditure in FY 2021-22, which is 1.51% of profit after tax. The CSR programmes have benefited around 29 lakh people, the company claimed. Total CSR obligation for the financial year amounted to Rs. 46.49 Crore, two percent of the average net profit of the Company as per section 135(5).
The Company has fully spent the required amount towards Corporate Social Responsibility (CSR) and does not have any amount remaining unspent under Section 135 (5) of the Act. Further, no 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.
The Company has not acquired any asset out of CSR Funds. The Company believes that sustainable community development is essential for harmony between the community and the industry.
The Company endeavours to make a positive contribution, especially to the underprivileged communities by supporting a wide range of socio-economic, educational and health initiatives.
The CSR objectives are being implemented under the umbrella support, of the JSP Foundation, which has been providing leadership to the field implementation and integration of CSR programmes.
The social commitment includes activities in the domains of environmental conservation, education, skill building, health & nutrition, population stabilisation, helping the differently able, creating and developing community infrastructure, safe drinking water and sanitation, generating livelihoods, entrepreneurship development, community-driven natural resource management, promotion of sports, art & culture and other activities related to community welfare.
CSR Approach
“We have been consciously operating within the framework of the Triple Bottom Line (TBL) encompassing People, Planet and Profit. Our operating system has been designed to be compatible with the long-term needs of the environment as well as that of the community. This approach of using TBL as a framework, with a focus on building synergetic partnerships, plays a crucial role in building pathways for sustainable development in the regions where the Company has been executing its CSR work. This approach of partnership also helps in integrating our business values to meet the expectations of all our stakeholders, effectively minimising or nullifying the conflict areas.”, the company said.
Formation of such synergetic partnerships is ensured by JSP taking the following steps:
Proactively responding to the needs of the community.
Building and strengthening community-based institutions.
Working in partnership with Civil Society Organisations (CSOs) and in convergence with government bodies to widen the reach and leverage each partner’s individual experience and expertise.
Providing required assistance during times of disaster.
Encouraging its employees to volunteer.
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