Corporate Social Responsibility (CSR)
It can be defined as a Company’s sense of responsibility towards the community and environment (both ecological and social) in which it operates. Accordingly, to emphasize that CSR had been embedded within CPCL’s corporate governance, is by its Vision i.e. to create value for stakeholders and which in turn is cascaded by its Mission i.e. to pro-actively fulfil social commitments including environment and safety. With this in mind CPCL’s Corporate Social Responsibility (CSR) Vision has been carved out as
“Strive for Educated, Healthy, Economically Developed and Environmentally Protected community around the Refineries.”
To achieve its CSR vision, CSR projects are designed with the aim to positively impact economic and social conditions of the communities in which it operates, to make efforts towards self-sustainability of CSR projects and to take initiatives on environmental sustainability.
The primary stakeholders like employees, board of directors, and shareholders focus on the organizations growth in achieving the Mission and Vision with high level of moral and ethical standards.On attaining the economic obligations by the primary stakeholders, the secondary stakeholder’s wants, needs and desires are addressed through various CSR projects focused on the development of the environment, community and people with the involvement of government agencies, regulation agencies and social groups.
CPCL’s CSR Policy will be operative within the overall ambit of CSR Provisions contained in the Companies Act 2013, Companies (CSR Policy) Rules 2014, Schedule – VII to the Companies Act 2013, and any other statutory provisions/ guidelines prescribed by the Government of India and amendments thereof from time to time.
Based on the above, it is that the strategy adopted by CPCL shall be of corporate community funding/socially responsible investments with project execution through
• In-house expertise / CPCL contractors
• External agency – a registered trust or a registered society or a company established by CPCL or its holding or subsidiary or associate company under section 8 of the Companies Act or otherwise, provided that:
If such trust, society or company is not established by CPCL or its holding or subsidiary or associate company, it shall have an established track record of three years in undertaking similar programs or projects;
CPCL has specified the project or programs to be undertaken through these entities, the modalities of utilization of fund on such projects and programs and the monitoring and reporting mechanism.
Accordingly, in line with the CSR vision, find mentioned below the key positive inputs provided by CPCL benefiting the surrounding community.