NEW DELHI: State-run National Aluminium Company Limited (NALCO) is a Navratna CPSE under Ministry of Mines spent over Rs 30 crore on Corporate Social Responsibility (CSR) activities during the financial year (FY) 2018-19 (Apr-Mar).
The spent amount is an against the mandated CSR fund allocation of Rs. 27. 38 Crore lakh following its CSR policy framed in line with the Companies Act, 2013. The average net Profit of the company for last three financial years stood Rs. 1369.16 crores.
NALCO Foundation, the CSR arm of NALCO is a Trust under Indian Trust Act exclusively set up to take up CSR activities of the Company. Most of the projects have been executed by NALCO Foundation, the company declared in its annual report.
Future CSR Strategy
Company has future CSR strategy. Apart from ensuring sustainable growth in the areas in which it operates by taking up various CSR schemes, NALCO also takes up welfare schemes like Swachh Bharat, Beti-Bachao-Beti-Padhao, Iconic shrine development, Skill India initiatives, etc. in line with national priorities. Moreover, its popular CSR scheme ‘Nalco Ki-Ladli’ in line with Beti-Bachao-Beti-Padhao which promotes quality education to the meritorious girl children is being scaled up to pan-India level with a view to contribute in a meaningful way for the noble cause of bridging the gender inequality.
Sharing and Caring
NALCO has declared the year 2018-19 as the year of Sharing and Caring. In line with the motto and complementing above CSR initiative, CMD, NALCO has launched Employee Social Responsibility (ESR) on 1st January’2019 and appealed all the employees to lend their hand voluntarily for the cause of the society.
Under the ESR scheme to start with, employees volunteered to support “Nalco Ki Ladli” by adopting one girl child each by contributing Rs.3000 per annum which is 50% of the scholarship amount and a matching grant of balance Rs.3000 will be supported from normal annual CSR budget of the Company, it said.
Under the programme, to enhance the literacy rate of women and to bridge the gender inequality in Koraput and Angul district of Odisha, the Company adopts meritorious girl students of BPL families for their education by providing financial assistance.
Nalco Ki Ladli, a flagship program undertaken since the year 2015-16 in line with Ministry of Women & Child Development, GoI’s Beti Bachao, Beti Padhao campaign to support meritorious and economically backward girl students from periphery schools of the Company for their study.
NALCO is committed to ensure inclusive growth of the marginalised sections of the society through its CSR interventions in peripheral villages near to its operations. It continues to address issues related to People, Planet & Profit for sustained growth of its business, report said.
Corporate Social Responsibility (CSR) is a self-regulating business model that helps a Company be socially accountable to itself, its stakeholders and the Public. Company can be conscious of the kind of impact they are having all aspects of society including economic, social and environmental.