BY Rusen Kumar
NEW DELHI: Wipro Limited spent Rs. 221.6 Cr as against its obligation of Rs. 166.6 Cr towards CSR activities during the financial year 2021-22 (the year ended March 31, 2021). An excess of Rs. 85.6 Cr which was spent in the financial year 2021-22 is available for set-off, the company said.Â
As per the provisions of the Companies Act, 2013, a company meeting the specified criteria shall spend at least 2% of its average net profits for three immediately preceding financial years on CSR activities.
The Company has fully spent the required amount towards Corporate Social Responsibility (CSR) and there are no unspent CSR amounts 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.
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An excess of Rs. 85.6 Cr which was spent in the financial year 2021-22 is available for set-off. “Considering that Rs. 85.6 Cr can be set off in a time frame of three immediately succeeding years, and according to the recommendation by the Board Governance, Nomination and Compensation Committee, the Board of Directors of your Company approved the set off the excess spend, in equal proportion, for next three financial years.”, the company said.
Approach to CSR
Wipro’s approach to social responsibility and sustainability rests on three important pillars:
The Strategic
The company chooses domains and issues to engage with that are force multipliers for social change and sustainable development. Social responsibility is as much about being a sustainable organization as it is about external initiatives. Therefore, some of the areas of engagement lie in the convergence of business goals and social purpose.
The Systemic
Within the chosen domains, It chooses to engage on systemic issues that require deep, meaningful and challenging work. Given the nature of social change, this implies commitment over the long term, typically for several decades, because genuine change does take that long to occur.
The Deliberative
Wipro emphasizes depth and long-term commitment imply a deliberative approach that precludes spreading ourselves thin or engaging in ‘cheque book philanthropy.’ By implication, this also means that the company is wary of expanding and growing social programs as ends in themselves.
“We think that it is critical to engage with the social and ecological challenges that humanity is facing. It is our conviction that the engagement with social issues must be deep, meaningful, and formed on the bedrock of long-term commitment.”, the company’s annual report said.
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The central tenet of the Wipro approach has been an emphasis on strong, meaningful work on systemic social issues. Its CSR (Corporate Social Responsibility) policy reflects principles and strategies that have informed the long history of corporate citizenship and social responsibility.
Wipro Foundation represents the Corporate Social Responsibility (CSR) initiatives of Wipro Limited. Going back over two decades, It focuses on social initiatives in Education, Healthcare, Ecology, Disaster Response and Cities & Public Spaces.
Wipro’s corporate citizenship and CSR efforts are implemented through various modes such as – Wipro Foundation, a public charitable trust; Wipro Cares, a charitable trust that matches employee contributions and Directly through Wipro Limited’s functions.
Wipro’s key impact areas include education, children with disability, primary healthcare disaster response, and community ecology. It strives for inclusive growth and equitable development through initiatives such as the Digital skills program for students, and STEM education in the US. Additionally, Wipro also provides opportunities to its employees to engage in volunteering activities and community work.
(India CSR)
