The Companies Act 2013 has introduced the concept of Corporate Social Responsibility in the Indian corporate sector w.e.f. 01.04.2014. In addition to the CSR provisions of the Act, the Deptt. of Public Enterprises has also formulated and issued Guidelines on CSR & sustainability on 21.10.2014 which are applicable to Central Public Sector Enterprises.
There will be a two tier CSR & Sustainability Committee in HPL:
i. CSR & sustainability Committee at Board level
The role of CSR Committee constituted by Board will be as under:
ii. CIn order to facilitate the Board level CSR & sustainability Committee to function properly, there will be a committee at below Board level headed by a senior officer at GM level, who will also function as the nodal officer and other officers. This team shall oversee the implementation of CSR and Sustainability agenda of the company within the organisation and also outside, i.e. covering internal as well as external stakeholders. The nodal officer shall be special invitee to the CSR & Sustainability Committee at Board level.
The designated nodal officer will regularly submit reports regarding the progress in the implementation of CSR and Sustainability activities to the CMD and Board level committee. The Board level committee will, in turn submit the reports to the Board of Directors for their information, consideration and necessary directions.
The programs to be undertaken under CSR Project will be related to activities specified in Schedule VII of the Companies Act 2013, and amendments thereof. The list of activities as specified in Schedule VII is annexed. Further Identification of programmes by Corporate will also be by means of any of the followings :-
The CSR programme of HPL would involve undertaking of the activities as envisaged in schedule VIII of the Companies Act 2013 as amended from time to time. The under-privileged and backward communities/ areas where HPL has its business operations would normally be covered under the policy. The major thrust area of CSR activities would include:
The details of the activities under the above-motioned heads are placed as Annexure -II to the Policy.
In case of any difficulty in interpretation of this policy the matter shall be referred to the CMD for taking a final view.
Any modification/amendment in the CSR & Sustainability policy will be carried out by the Board of directors.
I. Promoting Education
Construction / renovation of class rooms / school buildings including toilets blocks for students preferably girls of backward areas;
II. Promoting preventive Healthcare
III. Drinking Water and Sanitation
IV. Ensuring Environmental sustainability
V. Rural development Projects
VI. Promoting gender equality
VII. Promotion of Sports
VIII. Promotion of Art and Culture
IX. Promoting gender equality