Karmayog CSR ratings acknowledges BILT amongst top 1000 largest Indian Companies for CSR Initiatives From correspondents in Delhi, India, 08:04 PM IST
Ballarpur Industries Limited (BILT), India’s largest paper company and part of the US$ 3 bn Avantha Group, has received the highest rating in the Karamayog Corporate Social Responsibility (CSR) Ratings of the of the 1000 largest companies in India – 2008, for enabling CSR as a core part of its business operations.
The Karmayog CSR Ratings are based on various parameters and are from Level 0 (lowest) to Level 5 (highest). The results of the ratings for 2008 show that just 1% or 10 of the 1000 largest Indian companies have got the highest rating of Level 4, i.e., they are actively involved in CSR initiatives, and that 49% of the companies are not engaged in any CSR activity. Karmayog’s study also provides an analysis of 35 industry sectors across the 1000 companies studied, therefore, enabling a snapshot of how individual industry sectors are performing on CSR and a comparison between the sectors.
The study and ratings present a comprehensive picture of the state of CSR in India, and provide an effective base for industry associations, government bodies, researchers and academia, and NGOs to work together with corporates in improving society.
Mr. R. R. Vederah, Managing Director, BILT, said, “We thank Karamayog CSR Ratings for honouring BILT. This acknowledgement recognises BILT’s philosophy of linking business sustainability to the sustainable development of the people and communities we work with and the environment in which we operate.”
Ms. Yashashree Gurjar, Head – CSR, BILT, said, “BILT recognises the symbiotic relationship that exists between businesses and society. The Karmayog CSR rating has further motivated us to make efficient use of our resources, core competence, skills, location and funds for the benefit of society and the environment, and to find meaningful solutions to the problems faced by India today.”
Karmayog’s first CSR study, conducted in 2007, has enabled several developmental work in India. Government bodies such as the Reserve Bank of India and the Petroleum Ministry are recommending both CSR expenditure and reporting by companies under their purview, and the Ministry of Corporate Affairs has recommended that social work activities be reported in the annual report. This reflects a growing demand from stakeholders for more responsible behaviour and contribution to society by companies.
Url: http://www.indiaenews.com/pressrelease/20090414/191328.htm