Funder and nonprofit perspectives come together to tackle an issue at the heart of the development sector. What needs to be done to amplify the impact of CSR funds?
Over the past decade, I have watched the admirable, at times controversial, but ceaseless march of corporations and philanthropic foundations to ‘do good’ in India, and to do it well. It’s been accelerated by changes to the Indian Companies Act, which mandated that 2% of the average profits of a company be invested in CSR.
Continue reading “Coalition Building & Corporate Philanthropy”
What should we be asking ourselves to enable Corporate Social Responsibility funds to tackle complex problems in 21st Century India?
“In a free enterprise, the community is not just another stakeholder, but is, in fact, the very purpose of its existence” — Jamsetji Tata
August 2013 turned out to be harbinger of sorts. With the President’s assent, the Companies Act 2013 came into force, mandating voluntary spirit on part of Indian business, thus giving it a dedicated space in the development ecosystem, and accelerating the shift from foreign aid to corporate resources, as a direct result of India’s economic growth. Estimates say that close to INR 15,000 – 20,000 crore will be contributed towards CSR by Indian business in a given year. But is CSR only about channelizing financial resources towards a noble cause or is there something more to it?
Continue reading “Beyond the Bottom Line: Making CSR Sustainable”