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A Significant Commitment Towards Nutrition, Environment, and Community Development
Nestlé India Limited has made substantial strides in its Corporate Social Responsibility (CSR) initiatives for the fifteen-month financial year ending on March 31, 2024. During this extended period, the company spent INR 685.8 million on various projects that positively impacted communities across India. This CSR expenditure significantly exceeds the prescribed amount under Indian regulations, demonstrating Nestlé’s ongoing commitment to societal development and sustainability.
NEW DELHI (India CSR): Corporate Social Responsibility has been at the core of Nestlé India’s operations, driven by the belief that businesses must be active agents of positive change within society. During the fifteen-month financial year from January 2023 to March 2024, Nestlé India focused on initiatives across nutrition awareness, environment sustainability, water, sanitation, and rural development. The company exceeded the mandated CSR expenditure by investing INR 685.8 million, going above the required two percent of its average net profits from the preceding three years.
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CSR Spending Exceeds Expectations
Nestlé India’s CSR Committee, responsible for overseeing the strategic direction of the company’s community initiatives, approved a budget of INR 597.6 million for CSR spending during the fifteen-month period ending March 31, 2024. However, the company exceeded this budget by spending INR 685.8 million, showcasing its dedication to driving social change. The excess CSR amount spent during the year will be carried forward and set off against future CSR obligations for the upcoming three years, as per the board’s approval.
This increased spending aligns with Nestlé’s commitment to making meaningful contributions beyond regulatory compliance. By exceeding the prescribed CSR expenditure, the company has positioned itself as a leader in corporate accountability and community welfare.
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Key CSR Initiatives by Nestlé India
Nestlé India’s CSR activities were conducted under the banner of “Creating Shared Value” (CSV), a framework that ensures the company’s growth is interlinked with the prosperity of the communities it serves. The following are some of the major initiatives undertaken by Nestlé India in 2023-24:
1. Nestlé Healthy Kids Programme
One of the flagship initiatives of Nestlé India, the “Nestlé Healthy Kids Programme”, focuses on improving the nutritional knowledge and fostering healthy lifestyles among children and adolescents. The programme aims to educate young minds on the importance of balanced nutrition and physical activity, empowering them to lead healthier lives.
The programme was independently assessed by KPMG during the financial year, with positive results indicating that it has significantly improved participants’ awareness of healthy eating habits. Through this programme, Nestlé has reached numerous communities, contributing to the overall goal of better health and well-being.
2. Project Jagriti: Empowering Communities
Project Jagriti is another initiative aimed at community empowerment and education. Under this project, Nestlé India has worked towards improving access to essential information on nutrition, hygiene, and health. Community workshops and awareness programmes have been organized to educate families about the importance of good health practices, ensuring that the benefits of nutrition reach every household.
3. Project Jigyasa: Experiential Learning for Youth
Project Jigyasa, part of the Nestlé Healthy Kids Programme, aims to ignite young minds through experiential learning. This initiative targets adolescents and school-going children, providing them with hands-on learning experiences related to nutrition and health. By making education engaging and informative, Project Jigyasa helps inculcate lifelong healthy habits among young people.
4. Project Vriddhi: Building a Brighter Future in Rural Haryana
Nestlé India has also focused on rural development through “Project Vriddhi,” which aims to uplift rural communities in Haryana. This project emphasizes improving livelihoods, education, and healthcare facilities in rural areas. By focusing on long-term community development, Project Vriddhi aims to create sustainable growth opportunities for the rural population.
5. Project Serve Safe Food: Strengthening Street Food Safety
Project Serve Safe Food is an initiative focused on enhancing food safety standards across India, particularly for street food vendors. The project aims to ensure that vendors are trained on best practices for hygiene and safety, ultimately benefiting consumers who rely on street food as an affordable source of nutrition. By improving food safety practices, Nestlé India is contributing to the overall health and well-being of the population.
6. Project Hilldaari: Clean Environment and Waste Management
Under its environmental sustainability initiatives, Nestlé India has taken significant steps toward waste management through “Project Hilldaari.” This project focuses on maintaining clean environments in hill towns, with an emphasis on waste segregation, collection, and proper disposal. The initiative aims to involve local communities, encouraging responsible waste management practices and ensuring a cleaner environment.
7. Project Clean Drinking Water: Ensuring Water and Sanitation Facilities
Water is a critical component of Nestlé’s CSR initiatives. Through “Project Clean Drinking Water,” Nestlé India has worked to provide clean water and sanitation facilities in underserved areas. Access to clean drinking water is a fundamental human right, and Nestlé’s interventions have helped improve the quality of life for many individuals, particularly in rural communities.
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Societal Impact and Future Commitments
Nestlé India has always been committed to “Creating Shared Value” by addressing societal challenges and making a positive impact on the lives of people. During the fifteen-month financial year, the company’s CSR Committee underwent several changes, including the reconstitution of members and the appointment of Ms. Svetlana Boldina, Executive Director – Finance & Control and CFO, as a member of the committee in March 2023.
As of March 31, 2024, the CSR Committee was chaired by Dr. Swati Ajay Piramal, with Mr. Suresh Narayanan, Ms. Svetlana Boldina, and Ms. Anjali Bansal as members. However, Dr. Piramal ceased to be a member and chairperson upon completing her term, and Ms. Suneeta Reddy was appointed as the new chairperson from April 5, 2024. These changes in the CSR Committee signify Nestlé’s continuous efforts to strengthen its governance structure and ensure effective oversight of its social initiatives.
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Financial Breakdown of CSR Expenditure
Nestlé India’s CSR expenditure for the fifteen-month financial year ending on March 31, 2024, amounted to INR 685.8 million. This includes:
- Amount Spent on CSR Projects: INR 643.7 million was allocated towards ongoing and other projects.
- Administrative Overheads: INR 34.3 million was spent on administrative expenses related to CSR activities.
- Impact Assessment: INR 7.8 million was spent on assessing the impact of various CSR projects, ensuring transparency and effectiveness in the initiatives undertaken.
The total amount spent during the year exceeded the prescribed INR 597.6 million, resulting in an excess of INR 88.2 million, which will be set off against future CSR obligations.
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Commitment to Compliance and Transparency
Nestlé India has consistently demonstrated its commitment to compliance and transparency in its CSR activities. The company’s CSR policy, which aligns with the Companies Act, 2013, outlines the framework and focus areas for its social initiatives. The policy and annual CSR reports are available on the company’s website, ensuring transparency and accessibility for stakeholders.
Furthermore, impact assessments of the company’s key initiatives were conducted by an independent agency, KPMG, during the year. These assessments provide valuable insights into the effectiveness of the projects and help identify areas for improvement. The impact assessment report is available on Nestlé’s website, showcasing the company’s dedication to accountability and transparency in its CSR efforts.
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You Learn: Nestlé’s Ongoing Commitment to Societal Development
Nestlé India’s CSR initiatives for the fifteen-month financial year ending March 31, 2024, reflect a strong commitment to societal development and sustainability. The company’s expenditure of INR 685.8 million on various community-focused projects demonstrates its dedication to going beyond regulatory compliance and creating meaningful impacts in the areas of nutrition, health, environment, and community empowerment.
The initiatives undertaken by Nestlé India, such as the Nestlé Healthy Kids Programme, Project Hilldaari, Project Serve Safe Food, and Project Clean Drinking Water, among others, have contributed significantly to the well-being of communities across the country. By focusing on nutrition awareness, clean water, sanitation, and rural development, Nestlé India continues to be a catalyst for positive change in society.
As Nestlé India moves forward, the company remains committed to “Creating Shared Value” and ensuring that its growth is closely linked with the prosperity of the communities it serves. With a reconstituted CSR Committee and a renewed focus on impactful initiatives, Nestlé India is poised to continue making a difference in the lives of millions across the nation.
The increased CSR expenditure and the company’s focus on transparency and accountability set an example for other corporate entities to follow. As the landscape of corporate social responsibility evolves, Nestlé India’s approach serves as a model of how businesses can align their operations with the needs of society, ultimately leading to sustainable growth and shared prosperity.
