Bangalore, March 5, 2013:
Creating sustainable social value through Corporate Social Responsibility (CSR) is possible when there are enough checks and balances to reach the resources to the really needy people.
At the same time we also need a transparent feedback and measuring mechanisms to evaluate the value created. Thinking of companies is changing from pure philanthropy to sustainable philanthropy. There is a need to have strategies to create long-term sustainable social values.
These are some of the views expressed by speakers at the Karnataka Annual CSR Summit 2013 with a theme of “Confluence 2013- Creating Social Value” organised by Confederation of Indian Industry.
Mr A Muralidharan, Convenor- CSR, Diversity and Inclusion Panel & President, Volvo CE, said, “The CSR investment will enable developing better human resources in the community around companies. We must give back to the society we operate in. CII is working with clear vision and goals. There should be enough checks and balances to ensure CSR funds are used for intended purpose and CII will work towards this.”
Mr L Krishnan, Chairman, CII Karnataka State Council & Managing Director, Taegutec India Pvt Ltd, said, “We must influence the eco system around us in a positive way. Most of the time we are not delivering because there is no targeted mechanism that offers transparency to the implementation process. Though it has not yet
passed, new company law mandates to make a commitment to the society.”
Mr Abhishek Goenka, Partner, BMR Advisors, said, “There are many things to be clarified a regarding tax treatment for CSR fund. Typically CSR spends are not tax deductible. 2013 budget has not given any general proposal for streamlining tax deductibility of CSR expenses.”
Ms Nisha Agarwal, CEO, Oxfam India, said, “We work in the seven most backward states of India. If we do something around our companies, it will not reach the really needy. So we need to fund CSR projects where they are really needed,”
Mr Ramji Raghavan, Founder Chairman, Agastya International Foundation, said, “Every great move needs emotional, intellectual, and financial support. If we do not address social problems, one day they will become problem for the industry.”
Mr Raja Nayak, Chairman, DICCI Karnataka, said, “ DICCI was launched to bring all SC/ ST entrepreneurs under one umbrella. Today, we have chapters in 18 states. Wherever a dalit asks for business, society is still not readily welcoming. Very few industry groups have wholeheartedly welcomed us.”
