CORPORATE SOCIAL RESPONSIBILITY (CSR) DISCLOSURES
The Companies Act, 2013 Act made an effort to introduce the culture of Corporate Social Responsibility (CSR) in Indian corporates by requiring certain companies to formulate a corporate social responsibility policy and incur 2% of Net profits (average of three financial years) being the minimum expenditure on social activities.
These provisions were enacted and became effective from 1st April 2014.
The Board approved formation of CSR committee in the meeting held on 30th June 2014. The committee members, being the Directors of the company were formed to monitor and approve the CSR activities of the company.
The committee in its meeting adopted corporate social responsibility policy and established process for identification of CSR projects. The same is reproduced below;
Our vision is - to actively contribute to the social and economic development of the communities in which we operate. In so doing build a better, sustainable way of life for the weaker sections of society and raise the country's human development.
Identification of projects:
All projects will be identified in consultation with the community, understanding their basic needs in discussion with the village Panchayats and other interested authorities. CSR projects will be carried out by the working group under the guidance & approval of the CSR committee.
The key focus areas of development that will be given priority are Education, Health care, Sustainable livelihood, Infrastructure development, and promoting social causes.
Achievements:
Considering the corporates role in society improvement / development, the company has started Welding Training Centre for candidates undergoing welding courses in educational institution. This Welding Centre will train ITI (Industrial Training Institute) students.
The objective of this project is to train young people in technical skills which would improve their employability chances and help in their economic sustenance. The course was designed, planned and executed by a cross functional team of employees comprising of Manufacturing, Engineering, Quality, HSE & HR.
Toshiba Group’s Corporate Philosophy emphasizes respect for people, creation of new value, and contribution to society. The Group’s slogan – ‘Committed to People, Committed to the Future’ – expresses the essence of our corporate philosophy.
We recognize that it is our corporate social responsibility (CSR) to put our philosophy and slogan into practice in our day-to-day business activities. We hope, with the help of our Welding Skill training, the students will upgrade to high-level skilled workers to become an integral part of the manufacturing industry in Tamil Nadu and contribute to ‘Make in India’. We will continue to undertake such meaningful CSR activities in the future.
