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Home Corporate Social Responsibility

JSW Steel’s Strategic CSR Spending of ₹235 Cr in 2023-24: A Commitment to Community Well-being

Fulfilling CSR Obligations with Strategic Planning

India CSR by India CSR
in Corporate Social Responsibility
Reading Time: 4 mins read
Sajjan Jindal

Photo: India CSR

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JSW Steel’s remarkable increase in CSR spending over the past seven years underscores its strategic commitment to long-term community benefits.

MUMBAI (India CSR): In the fiscal year 2023-24, JSW Steel had an adjusted CSR obligation of ₹298 crore. The company met this requirement by allocating ₹235 crore directly to various CSR initiatives. These funds were strategically deployed across critical areas such as health, education, environmental conservation, and economic empowerment, ensuring a broad and meaningful impact on the communities within its operational areas.

A Steady Growth in CSR Expenditure

The financial journey of JSW Steel’s CSR investments underscores a deliberate and thoughtful approach to social responsibility. Starting from an expenditure of ₹63 crore in FY 2018-19, the company has progressively increased its CSR spending, reflecting a consistent upward trajectory. By FY 2023-24, the expenditure reached an impressive ₹235 crore, showcasing JSW Steel’s dedication to enhancing its impact on society and contributing to sustainable development.

Table 1: CSR Expenditure Growth (FY 2018-19 to FY 2023-24)

Fiscal YearCSR Expenditure (₹ Crore)
FY 2018-1963
FY 2023-24235

Broad Impact Through Diverse Initiatives

JSW Steel’s CSR efforts span multiple critical areas, each designed to foster long-term community benefits. The company’s initiatives in FY 2023-24 had a wide-reaching impact:

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  • Health and Nutrition: Over 6.07 lakh individuals benefited from enhanced healthcare services and nutritional support, improving overall community health.
  • Education: Educational programs reached approximately 5.54 lakh beneficiaries, significantly boosting educational quality and access.
  • Water, Environment, and Sanitation: Around 2.49 lakh individuals benefited from initiatives focused on water conservation, environmental care, and sanitation improvements.
  • Economic Development: Through skill development and livelihood programs, JSW Steel supported 18,821 individuals in securing better economic opportunities.

Table 2: Key Beneficiary Impact Areas (FY 2023-24)

Impact AreaBeneficiaries
Health and Nutrition6.07 lakh
Education5.54 lakh
Water, Environment, and Sanitation2.49 lakh
Skills and Livelihoods18,821
Agriculture and Allied Livelihoods51,612
Art, Culture, and HeritageMughal Gardens Restoration
Waste Management1.47 lakh
Sports Promotion69,762

Additional focus areas included art, culture, heritage restoration, waste management, and sports promotion. Specific initiatives, such as the restoration of the Mughal Gardens in Kashmir and sports programs, impacted 69,762 individuals.

Strategic Financial Stewardship

Table 3: CSR Financial Stewardship (FY 2023-24)

CategoryAmount (₹ Crore)
Total CSR Obligation298
Direct CSR Expenditure235
Escrow Account Deposit63

In addition to the ₹235 crore directly spent on various CSR initiatives, JSW Steel showcased prudent financial stewardship by depositing the remaining ₹63 crore into an escrow account. This amount is earmarked for future specified projects, illustrating a structured and strategic approach to fund management and commitment to ongoing community support.

Commitment to Long-Term Community Benefits

JSW Steel’s structured increase in CSR expenditure is not just a reflection of regulatory compliance but also a testament to its strategic planning and focus on sustainable community development. By steadily enhancing its financial commitment to CSR, JSW Steel aligns its business success with social progress, ensuring that its growth positively impacts the communities it serves.

Also Read

CSR: JSW Foundation’s Comprehensive Community Development Initiatives – 2023-24

(India CSR)

Tags: CSRJSW Steel

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India CSR is the largest media on CSR and sustainability offering diverse content across multisectoral issues on business responsibility. It covers Sustainable Development, Corporate Social Responsibility (CSR), Sustainability, and related issues in India. Founded in 2009, the organisation aspires to become a globally admired media that offers valuable information to its readers through responsible reporting.

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