Half of Indian firms get ‘zero’ on CSRMay 2009
A report on the corporate social responsibility activities of the 1000 largest Indian companies has given a zero score to 494 of them.
No companies received the top rating of five and only ten achieved a score of four – ACC, Ballarpur Industries, HDFC, Infosys Technologies, Jubilant Organosys, Kansai Nerolac Paints, Moser Baer, TCS, Tata Steel and Titan Industries.
The report found that about 51 per cent of the companies practised CSR in some form, but only two per cent published a separate sustainability report and only three per cent published the amount spent on CSR.
The statistics are in the second annual report on the 1000 largest Indian companies’ CSR activities by Karmayog, a Mumbai-based online organization. Karmayog’s criteria include corporate CSR activities and CSR reporting. Negative factors that bring down scores include the manufacturing of harmful products, violations of laws and regulations, and high-impact processes that severely damage the environment.
Karmayog recommended Indian companies to spend a sum at least equivalent to 0.2 per cent of their sales figures on CSR activities and to follow Global Reporting Initiative guidelines by publishing a separate CSR report annually, or at least include a CSR section in their annual reports.
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