The first step towards formalising CSR
projects in a corporate structure is the
constitution of a CSR committee as per the
specifications in the Companies Act, 2013,
clause 135.
This is an excellent starting point for any company new to CSR. In case a company already practices CSR, this committee should be set up at the earliest so that it can guide the alignment of the company’s activities with the requirements of the Act. For effective implementation, the CSR committee must also oversee the systematic development of a set of processes and guidelines for CSR to deliver its proposed value to the company, including:
• one-time processes such as developing the CSR strategy and operationalising the institutional mechanism
• repetitive processes such as the annual CSR policy, due diligence of the implementation partner, project development, project approval, contracting, budgeting and payments, monitoring, impact measurement and reporting and communication A set of such enabling processes, their inter-relationships and the sequence in which they need to be developed have been identified below:
Step one: Developing a CSR strategy and policy
Step two: Operationalising the institutional mechanism
Step three: Due diligence of the implementation partner
Step four: Project development
Step five: Project approval
Step six: Finalising the arrangement with the implementing agency
Step seven: Progress monitoring and reporting
Step eight: Impact measurement
Step nine: Report consolidation and communication
(Source: https://www.pwc.in/assets/pdfs/publications/2013/handbook-on-corporate-social-responsibility-in-india.pdf)
This is an excellent starting point for any company new to CSR. In case a company already practices CSR, this committee should be set up at the earliest so that it can guide the alignment of the company’s activities with the requirements of the Act. For effective implementation, the CSR committee must also oversee the systematic development of a set of processes and guidelines for CSR to deliver its proposed value to the company, including:
• one-time processes such as developing the CSR strategy and operationalising the institutional mechanism
• repetitive processes such as the annual CSR policy, due diligence of the implementation partner, project development, project approval, contracting, budgeting and payments, monitoring, impact measurement and reporting and communication A set of such enabling processes, their inter-relationships and the sequence in which they need to be developed have been identified below:
Step one: Developing a CSR strategy and policy
Step two: Operationalising the institutional mechanism
Step three: Due diligence of the implementation partner
Step four: Project development
Step five: Project approval
Step six: Finalising the arrangement with the implementing agency
Step seven: Progress monitoring and reporting
Step eight: Impact measurement
Step nine: Report consolidation and communication
(Source: https://www.pwc.in/assets/pdfs/publications/2013/handbook-on-corporate-social-responsibility-in-india.pdf)
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