Microland believes that Corporate Social Responsibility (CSR) is the continuing commitment by business to act ethically and address the social and environmental issues prevalent in the society; thereby contributing to the welfare of the society at large. CSR is also a tool to reflect upon and evolve our relationships with our stakeholders, such as local communities, Government and Microlanders, to achieve meaningful positive impact on ground.
Microland has undertaken multiple CSR programmes in the past – especially in the areas of education and disaster relief.
To maximize the social impact of our initiatives, we have adopted this Policy developed as per the requirements of the Section 135 of Companies Act 2013 (and the amendments and notifications thereof) to govern the CSR initiatives of Microland Limited in India. We have established the Microland Foundation which serves as a dedicated not-for-profit body to conceptualize and implement our CSR programmes.
This Policy document serves the following purpose:
- Define what CSR means to us
- Identify “Impact Themes” that Microland shall pursue towards fulfilling our CSR obligations
- Specify modalities of execution of projects
- Establish the operating guidelines for CSR programmes
- Elucidate the approach & governance mechanism to execute & monitor our CSR programmes
- Explain the manner in which the surpluses from CSR programmes will be treated
2. CSR Policy
2.1 Scope of Policy
This Policy applies to all activities that are undertaken as part of our CSR programmes in India.
2.2 Impact Themes
The impact themes for Microland’s CSR programmes adhere to the Schedule VII of the Companies Act 2013 and focus on the three E’s- Education, Employability and Environment.
Principle: Education is the bedrock of social and economic development, and one’s socioeconomic status should not act as a deterrent to realizing one’s personal potential.
Goal: To work on the systemic barriers to education so that the individual, whether child, youth or adult is able to benefit from educational opportunities designed to meet their basic learning needs.
Principle: Employability skill development is a key to addressing the opportunities & challenges of the rapidly changing economy & labor market.
Goal: To work on job-readiness programmes that empower individuals from socio-economically disadvantaged backgrounds with skills to gain employment and be successful in their chosen occupation.
Principle: Environment is integral to a healthy community and enhances human wellbeing.
Goal: To spearhead initiatives that address environmental problems, restore the environment and create a sense of awareness and appreciation for environment conservation.
The Company may amend the themes, as appropriate, from time to time.
2.3 Operating Guidelines
The broad principles that govern our CSR strategy and programmes are as follows:
- Ensure focus on select impact themes
- Ensure employee involvement and engagement in CSR programmes
- Ensure measurability and sustainability of CSR programmes
In selection of CSR Programmes, emphasis is laid on those that fall within the vicinity of our operations to enable maximum involvement of Microlanders and ensure close supervision.
To promote sustainability, our CSR programmes are designed and implemented in the following modes or by way of a combination thereof:
- Through Microland Foundation, a registered trust
- In collaboration with other Trusts or Non-Governmental Organizations
- Directly by Microland towards the corpus for approved projects
Microland has constituted a governing mechanism to oversee the successful implementation of the CSR Policy, in compliance with the requirements of Section 135 of the Companies Act, 2013. The CSR Statutory Committee has been formed at the Board level, comprising four directors. The responsibilities of the CSR Statutory Committee include:
- Formulating and updating the CSR Policy
- Approving programmes that are in line with the CSR Policy
- Monitoring the progress of each programme
- Recommending the CSR expenditure
- Meeting at least twice a year to review the progress and suggest interventions
A CSR Working Committee has also been set up to assist the CSR Statutory Committee and the Board in implementation of CSR programmes.
2.6 CSR Expenditure
CSR expenditure includes all expenses, direct and indirect, incurred by the Company on CSR programmes undertaken in accordance with the approved CSR Policy. Moreover, any surplus arising from any CSR programmes is channelized again towards CSR expenditure and does not form a part of business profit.
For queries related to CSR Policy, please write to Karishma Bhuyan (KarishmaB@microland.com).