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Headlines
20 Ways Nonprofit Leaders Can Support Younger Employees' Professional Development | Forbes, 16 apr 2024
Giving money to charity? Make sure you're not donating to the taxman too | IFA Magazine, 16 apr 2024
Volunteering: A Proven Way To Improve Employee Well-Being | Report Alert, 16 apr 2024
5 things I heard at the Skoll World Forum | Devex, 16 apr 2024
Sustainable communities through social entrepreneurship | The Manila Times, 16 apr 2024
The Connection Between Corporate Social Responsibility and Wellness | Corporate Wellness Magazine, 16 apr 2024
The charitable deduction is a complex, broken mess. There's a better way | Vox, 15 apr 2024
Lessons from the Field of Systems Change | HBS Social Enterprise Blog, 03 apr 2024
Inclusive Board Meetings | Stanford Social Innovation Review, 19 feb 2024
How nonprofits can build capabilities to catalyze impact | McKinsey, 05 feb 2024
January 2024
Mohammad Anas Wahaj | 16 jan 2024
According to the National CSR Portal website of Govt. of India (csr.gov.in), India Inc, spent Rs. 25000 crore in 2021-22 toward Corporate Social Responsibility (CSR). 18000 companies contrbuted to this and implemented 40000 developmental projects. 65% of this fund has been allocated to health, education and poverty related issues, while the environment sector received less than 7%. Historically, the fund for environmental issues has never exceeded 10%. Anuja Malhotra (Policy Manager) and Abi Tamim Vanak (Director) at the Centre for Policy Design, Ashoka Trust for Research in Ecology and the Environment (ATREE), explain the reasons behind this skewed fund allocation and what is required to streamline funds towards environmental sector and steps needed to optimize its potential. Explaining the low allocation, the authors say, 'This may be attributed to a lack of quantifiable metrics in the environmental and ecological sector, the long gestation period required to calculate 'returns' and lack of usable monitoring, reporting and evaluation frameworks. These challenges are further exacerbated by the fact that executing environmental projects requires expertise and often involves engaging and collaborating with highly specialised institutions.' Policy initiatives such as Schedule VII of Section 135 of the Companies Act, 2013, includes the environment as a key CSR focus area for implementation, and the Reserve Bank of India’s latest report on currency and finance, equitable CSR funding is listed as one of the key policy options to mitigate climate risk, will streamline CSR funding towards environmental issues. Authors suggest following steps to optimize its potential - (1) Companies interested in investing in protecting and restoring India's natural resource base should prepare for a long-term funding strategy if they want to achieve effective results. (2) Funders must recognise that working in the environmental sector necessitates close collaboration with local communities and other relevant stakeholders. (3) Avoid large-scale but homogenous activities such as tree plantations. Investments in more socio-ecologically responsible restoration strategies require strategic and well planned design and operationalisation of interventions that minimise unintended consequences. (4) investing in the development and use of technology for carbon sequestration potential may prove useful in creating a knowledge base for India's transition to green credits, carbon markets, and green growth. (5) A long-term goal and vision will also help companies plan and pace their expenditures, thereby reducing unspent balances. In addition, companies may align their CSR investment goals with their ESGs (Environmental, Social and Governance) strategies and try to reduce their carbon footprints. Moreover, for long-term continued success, CSR funds can serve as a platform to operationalise the science-policy-practice interface by investing in well-researched and carefully designed projects and, develop collaboration with civil society and policymakers to develop sense of shared responsibility and ownership. Read on...
MONGABAY:
How to strategically align CSR funds to meet India’s sustainability goals
AuthorS:
Anuja Malhotra, Abi Tamim Vanak
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