FROM THE EDITOR
Update on India’s CSR Mandate Law: Spending is Increasing
The latest data on spending on CSR by companies in India show a substantial increase, according to the “India CSR Outlook Report.” Figures for 2015-16 total 92 percent of actual CSR spend to the prescribed CSR, compared to 79 percent in 2014-15. The report, an analysis of 250 companies listed on the Bombay Stock Exchange, shows that most of the funding was directed to education, health-care, skill development and sanitation. This trend is being closely watched, as India is the only country with a law that requires CSR spending by large companies. The Companies Act of 2013 requires a spend of two percent by large companies on CSR. In India’s case, to date, mandated CSR seems to be producing results.
John Howell, Editorial Director
ReportAlert: Stockland publishes 2016 Annual Review & Sustainability Reporting
News & Blogs
Big companies are taking climate change very seriously. Before the December 2015 climate talks in Paris, 154 companies signed the pledge to demonstrate their support for action on climate change. The 154 companies have operations in all 50 states, employ almost 11 million people, represent over $4.2 trillion in annual revenue and have a combined market capitalization of over $7 trillion.
(3BL Media/Justmeans) – Earlier this year, the Indian government approved a $1.3bn insurance scheme for its farmers, protecting them against crop failures as a way to help put a stop to a spate of suicides. Two hard and devastating successive years of drought have battered the country’s already struggling rural heartland, with farmer suicides in rural areas regularly making news. Since 1995, more than 300,000 farmers have killed themselves.
(3BL Media/Justmeans) – In 2016, as all the UN member countries begin implementing strategies to meet the 17 UN Sustainable Development Goals (SDGs), the world recognizes the pivotal role that corporations can play in the achievement of these global milestones. Several companies are already taking important steps to align their corporate giving and societal engagement around the SDGs.
(3BL Media/Justmeans) – Companies can play a vital role in providing critical relief assistance when natural disasters strike. According to the 2013 Cone Communications Disaster Relief Trend Tracker, 87 percent of global consumers believe companies must get involved in natural disaster response. Nearly 70 percent think corporations are better able to effectively respond. Nine in ten consumers feel better about a company after learning about that company’s support of disaster recovery.
(3BL Media/Justmeans) - Teva Pharmaceuticals, the world's largest generic drugmaker, is now accepting applications for its Community Partnership Program for the 2017-18 edition of the initiative, now in its third year.
(3BL Media/Justmeans) – Diabetes is top of the news agenda this month. Public Health England is warning that tackling diabetes will be ‘fundamental’ to the future of NHS, as the number of adults with the condition grows. About 3.8 million adults in England now have diabetes, with at least 940,000 of those undiagnosed, new figures reveal.