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