Strategies for CSR implementation
Areas of CSR activities
The common areas of development for CSR activities are Food Security, Education, Healthcare, Rural Development, Sanitation, Environment and climate change, Water Resources.
Out of the above areas, Education is the leading area of CSR implementations by the companies.
The simple strategy of CSR implementation must be the execution of Sustainable development goals (SDGs). A country can sustain overall development if the citizens of a country are Healthy, have food security, have enough employment opportunities, have clothing and shelter. Some of the cross contributing factors to the SDGs are strategies of Water Conservation, Environment and Climate development. Rural development, electrification and disaster management are also the areas that need attention in case of Corporate Social Responsibility strategies.
In case of both economy and CSR implementations, the areas that need attention are the Rural Development, Employment generation in the Rural Areas, Energy conservation and generation, Water Resource conservation.
Total CSR Spend
The total CSR spending is expected to cross Rupees 11,000 crores in Fiscal Year 2018-19
Top ten companies that contributed to CSR initiatives in 2017
- Reliance Industries Ltd
- Wipro Ltd
- Bajaj Auto Ltd
- Samsung India Electronics Pvt Ltd
- Infosys Ltd
- Mahindra and Mahindra Ltd
- Tata Steel Ltd
- ITC Ltd
- Adani Ports and SEZ
- Jindal Steel and Power Ltd
The basic strategies for Corporates to come together is to come up with services and their respective areas of expertise to be offered to the society in need of these services. For example, Information Technology support for a Health care center / hospital. Energy creation for the rural electrification. Water conservation and rural employment through different areas of expertise of the companies.