As it relates to sustainability, the B2B industry is becoming more knowledgeable, and more companies continue to adopt socially responsible initiatives. Also, corporate social responsibility (CSR), which refers to social responsibility as it relates to business, is a growing topic of concern for companies.
In this article, we will consider the top ten Indian corporations that are known for their consistent CSR efforts and their impact.
- Customers are actively seeking out socially conscious companies
- The positive impacts of socially responsible corporations in society and the environment continue to promote community and national development
Top ten most socially responsible Indian businesses
Globally, the B2B market is evolving alongside the growing significance of sustainability. Not to mention, there are several opportunities for significant growth. Here are a few Indian corporations that have consistently embraced socially responsible initiatives.
1. Tata Power Company Limited
Tata Power focuses on five areas in its CSR programs: financial inclusion, education, health & sanitation, water, livelihood, and skill development.
Through the Tata Power Community Development Trust, the firm uses development efforts to conceive, implement, and scale up a variety of community-based programs and interventions that support the creation of a more just and sustainable society.
Even more, the Tata Power Renewable Microgrid Limited (TPRMG) company was established in collaboration with the Rockefeller Foundation to provide 25 million Indians with access to dependable and renewable electricity. The program received a gold award for “Excellence in CSR” at the 9th ACEF Asian Leaders Forum and Awards 2020.
2. ITC Limited
ITC’s sustainability initiatives are motivated by the conviction that a company must serve a greater social good while maintaining its focus on national concerns. This has led the company to embrace a symphony of initiatives addressing some of the most critical societal issues.
The company’s Social Forestry program provided 30,439 acres of land during the previous fiscal year. Also, under the auspices of vocational training programs, the company empowered 12,470 youths in various skill development. This is however just a few among the many initiatives powered by ITC.
3. Vedanta Limited
Vedanta Limited is known for its socially responsible initiatives that focus on issues including water management, energy conservation, and carbon management. In addition, the company provides support in the area of agricultural and rural development.
The business has implemented cutting-edge technology through its group firms, including Hindustan Zinc (HZL), Cairn Oil & Gas, Electrosteels Steel, Sesa Iron Ore Business, and Vedanta Aluminium, to optimize water consumption, increase energy productivity, mitigate climate change, and conserve diversity.
4. Hindustan Unilever (HUL)
Hindustan Unilever was one of the first businesses to pledge over $12 million in support of the government’s efforts to combat COVID-19. During the pandemic, HUL partnered with the government and numerous NGOs to donate a large number of soaps and sanitizers, bottles of toilet and surface cleaners, packs of Horlicks, and other products to frontline medical professionals, police officers, sanitation workers, and vulnerable citizens of the nation.
HUL, together with the Bill & Melinda Gates Foundation, RBL Bank, and other founding members founded the India Protectors Alliance (IPA). Basically, IPA is a business-led coalition created to defend front-line employees. This includes medical professionals, nurses, and sanitation workers who have defended society throughout the pandemic.
5. Ambuja Cement Ltd.
Ambuja Cement is one of the top companies in the Indian cement market renowned for its ideal custom product line.
For the most part, the Ambuja Cement Foundation which is the company’s social development arm is largely responsible for allocating funds for CSR implementation. Also, it primarily works with the communities surrounding its manufacturing facilities. ACF has contributed to formalizing the framework for CSR initiatives over the years. This is by establishing farmers’ clubs, farmer producers’ organizations, women’s federations, and water user groups. The Foundation has also appointed village-level leaders. This is to help in efficiently managing the programs and supporting households.
6. Toyota Kirloskar Motor India
More than 10% of worldwide vehicle accidents occur in India. Also, the majority of these incidents are either the result of negligence on the part of the road users or a lack of understanding about road safety.
TKM in its desire to promote road safety launched a program to strengthen the Traffic Training and Road Safety Institute (TT and RSI). Also, through its “Toyota way” methodology, TKM hopes to improve the GTTC institutes in Karnataka in conjunction with the Skill India mission. For its CSR project, the company chose four GTTC institutes—Gokak (Belagavi), Udupi (Udupi), Maddur (Mandya), and Hubli (Dharwad) to provide various services.
7. NTPC Ltd.
NTPC Limited is a statutory corporation in India and also the country’s biggest power company. The socially responsible corporation in 2021-2021, spent a staggering $51 million on CSR projects.
Also, for its flagship CSR project, “Girl Empowerment Mission,” NTPC received recognition at the CII-ITC Sustainability Award- 2020 for “Corporate Social Responsibility” and the FICCI Jury Commendation Certificate under the Category “Women Empowerment.” (GEM).
NTPC primarily gives preference in its CSR & sustainability efforts to local communities close to the company’s operations. However, CSR initiatives are also carried out throughout the rest of India in order to support the government’s efforts and take into account inclusive growth and environmental sustainability.
8. Hindustan Zinc Ltd. (HZL)
Hindustan Zinc is the sole integrated producer of silver, lead, and zinc in India. The corporation also ranks as the sixth-largest silver producer in the world.
The largest portfolio of Hindustan Zinc’s CSR projects is focused on education initiatives. Currently, the company is working in 3,145 Anganwadis, serving more than 2,400 villages across 5 Rajasthani districts: Udaipur, Rajsamand, Chittorgarh, Bhilwara, and Ajmer.
Also, with a particular emphasis on minimizing malnutrition during the epidemic, health screenings of over 132,000 youngsters were conducted.
9. Bharat Petroleum Corporation Ltd. (BPCL)
Through its CSR efforts, BPCL is dedicated to the local community and beyond. For its CSR initiatives, the business largely relies on the solid alliances it has forged with the government, reliable NGOs, and other implementing organizations.
Additionally, through the Skill Development Institute (SDI) in Kochi, Kerala, BPCL has remained committed to improving youth employability and entrepreneurship in the hydrocarbon sector as well as in other industries. Since the program’s commencement, 756 students have received training, and more batches are being enrolled.
10. Apollo Tyres
Apollo Tyres is well-known for producing and marketing tires. Its vision statement, which states “continuously enhancing stakeholder value,” informs its CSR strategies. Hence, the company’s CSR initiatives reflect a persistent commitment to fostering inclusive growth. It also seeks to raise living standards in the areas in which it conducts business.
All CSR programs are created in alignment with the national development priorities and the UN Sustainable Development Goals. (SDGs). Environmental stakeholders are esteemed as being just as important as social stakeholders. Through the Apollo Tyres Foundation, the firm has been creating partnerships and collaborations to reach out to a wider scope of recipients.
Conclusion
The positive impacts of socially responsible corporations in society and the environment continue to promote community and national development. Furthermore, companies that exercise social responsibility can do so in a variety of ways. This could be through enacting environmental changes, using moral work practices, encouraging volunteerism, and supporting philanthropy. Not to mention, customers are actively seeking out socially conscious companies.
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