CSR Regulation Rules 2021 - Action Plan and Way forward
On 22nd January 2021, the Central Government of India notified the amended Corporate Social Responsibility Policy Rules and the amended Section 135 of the Companies Act 2013 - the regulation governing the corporate social responsibility of all companies registered in India. These amendments have affected all aspects of the CSR lifecycle from designing, implementation & monitoring to reporting of the CSR activities undertaken.
The key changes
Re-defines the meaning of CSR
CSR Policy to be a guiding document
Heightens the role of the Board in creating CSR policy
CSR Action Plan and Project Design
Defines the timeline of ongoing (multi year) projects
Mandates CSR Committee to create an annual CSR action plan
Requires NGO partners to have CSR Registration Number
Defines new roles of International Organization
Mandates impact assessment
CSR Financial Management
Introduces guidelines for Unspent and excess expenditure and surplus
Clarifies requirements for ownership of assets
Creates role for CFO to validate the budget utilization
CSR Reporting and Compliance
Introduces new detailed reporting structure
Penalizes the non-compliant companies and the related officers
Mandatory committee composition requirements disclosure on the website
What's in it for the audience
How to adopt the changes given the short timelines
What steps need to be taken to ensure full compliance
How is Goodera helping the ecosystem in implementing the new changes
Context setting and key highlights of CSR Rules 2021
20 mins Panel Discussion - Action plan and foreseen challenges to adopt the changes
10 mins Goodera’s new service offerings to enable these changes
10 mins Audience Q&A
Post the discussion, attendees can register with Goodera for detailed one-on-one assistance for the service offerings by booking the slots via calendly
All Your Questions Answered
What key amendments have been made to the CSR Law in India?
When are the amendments effective from? Are they applicable for FY 2021?
These amendments have come into effect from 22nd January 2021 and are applicable for FY 2021 as well.
What are the immediate action items to ensure compliance with the new CSR Rules?
Review your CSR policy and amend it as per the new requirements, Collate information for the new CSR Report structure and ensure your CSR Implementing Partners obtain the unique CSR Registration number at the earliest.
How can Goodera’s new services help me?
For Corporates: CSR Policy review and Creation of annual action plan
For Corporates: Technology enabled Impact Assessment Module
For NGOs: Accounting support for submission of the e-form CSR-1 to obtain the unique CSR Registration number
With the modules designed to be extremely secure with an end-to-end cloud-based infrastructure, Goodera is one of the only ISO 27001 certified companies in the ecosystem.
Anurag Pratap, Vice President & Digital Inclusion and Sustainability Leader
Capgemini Technology Services India Limited
Anurag brings with him more than 24 years of diversified experience in CSR, and community development. At present, he anchors CSR at Capgemini India. Over the past two decades plus, he has worked with various grassroot agencies, donor agencies, UN Agency and Corporates.
Ms. Sakshi Mehta is the Head- Sustainability & Corporate Responsibility at Ericsson India Global Services Private Limited. My professional experience of 20+years, has been a diverse one- starting from training, external and internal communication followed by CSR and sustainability implementation in two technology multinationals. I have spearheaded sustainability and corporate responsibility for Ericsson in India for over 9 years and previously, supported the Intel CSR team driving their Education initiatives in India. Conceptualized and implemented large Education, Healthcare and Technology projects in marginalized communities across India with various partners. I strongly advocate that technology can drive positive change and the partnerships we make can enable the same. As said by J.K Rowling “We do not need magic to change the world, we carry all the power we need inside ourselves already: we have the power to imagine better”.Read more...