Besides this, it distributed tents and other food items for the earthquake victims in different affected areas. These include distribution of information, education and communication (IEC) materials, community awareness, providing clean and safe drinking water to schools and operations and maintenance of WASH facilities. Sustainability and Corporate Social Responsibility (CSR) have become important to many corporations and the majority of large firms today voluntarily provide reports on their CSR initiatives, risks, and activities. NMB Bank in association with Kathmandu Metropolitan City Office organises NMB Bank Heritage Walk every year. Meanwhile, NMB Bank has also organised health camps in various parts of the nation. However, specificity also means that the standards do not necessarily fit all firms but are a poor fit for some, potentially reducing the information content of the disclosures. Numerous finalists of the app camp have either launched their own startup or are engaged in product development. Charitable giving is another way to introduce workplace corporate social responsibility to your employees. Also, the company is collaborating with a technology transfer project named CESEF (Cost Effective Social and Environment Friendly Building Materials and Techniques) which is initiated by Skat Consulting and funded by the Swiss Agency for Development Cooperation in Nepal. Community Contribution Muktishree Group contributes 10 percent of its annual profit for CSR purposes. The company has numerous projects in education like Adopt a School, Digital Library, Scholarships to Girl Child and Scholarships to engineering students at Institute of Engineering (IoE), Pulchowk campus. The bank has also been supporting the victims of the 2015 earthquake. Phase one concluded with the distribution of emergency relief items of food, water and medical supplies to the affected people while also helped remove rubble in different areas of Lalitpur district. The Foundation has trained over 100 entrepreneurs and incubated 22 projects. Corporate social responsibility (CSR) refers to strategies that Corporations or firms employ to conduct their business in a way that is . Surya Nepal also supports public education institutions aiming to enhance the quality of primary education. According to Double the Donations statistics, 84% of individuals say theyre more likely to give if they know a matching gift is offered. If compliance is rather low, as some evidence suggests, and a reporting mandate is able to force out new or better CSR information, then capital markets should respond as theory predicts, for example, in the form of improved liquidity, lower costs of capital, and higher asset prices. The CSR activities of Nimbus include free trainings for farmers, free insurance of the livestock of farmers using Shakti Feed, free consulting on livestock and poultry management, along with the establishment of demo farms. Its also a way to make a positive impact without the need to sacrifice time or other resources. SNPL Khelparyatan: With this CSR strategy, the company puts its main focus on strengthening the country's economy by promoting sports tourism. Through this initiative, nearly 300 tonnes of PET bottles have been collected from Kathmandu and successfully exported to India for recycling and reuse. Nepal Social Business is now engaged in tourism development of Lower Dolpa region from Jufal to Lake Phoksundo. We have chosen some business houses, companies and banks that are in the forefront of CSR activities in the country. CSR doesnt simply mean looking to make an impact in peoples lives outside of your organization. To get CSR going in your workplace, you may need to start with a company-wide training on the value, benefits, and how-tos of corporate social responsibility. Edit. Reducing carbon emissions leads to cleaner air which benefits current and future generations. Community support programmes: The company has also been supporting communities in Kathmandu and Bharatpur where it has its production facilities in line with the companys credence, with programmes that address their need for basic necessities such as access to drinking water and health facilities. Moreover, it points to a crucial role that the reporting infrastructure and the relevant enforcement mechanisms play when implementing CSR standards. The company has also provided support to Manmohan Cardiothoracic Vascular and Transplant Center (MCVTC) in Maharajgunj to set up world-class cardiothoracic Intensive Care Units (ICUs). (Prepared and compiled by Krishana Prasain, Nikeeta Gautam and Gagan Shrestha). The company runs this campaign partnering with some INGO's prioritising issues such as clean drinking water supply, sports facilities, sanitation, libraries, Green Audit and tree Plantation drives alongside rain water harvesting techniques. Joining hands with National Micro-Entrepreneurs Federation Nepal (NMEFEN), CF provides skills and capacity development training to the women through women micro-entrepreneurs. Corporate Social Responsibility (CSR) is an important portion of an enterprise, bank or other industry. Nepal Telecom provided notable services during last years earthquake. Similarly, the company provides technical knowledge to farmers about tobacco farming. The programme has been implemented in selected schools of Nawalparasi along with Adarsha School of Bhaktapur and Lalitpur. The bank has also been providing public facilities with pure drinking water. 1 of 9 Assignment on Corporate Social Responsibility (CSR) Nov. 27, 2015 4 likes 5,352 views Download Now Download to read offline Education This assignment will help every student for making their assignment and presentation better and effective. Nepal Telecom has also provided a free child help line to Child Workers in Nepal (CWIN) and is also providing the same kind of services for organisations working on child protection. In the upcoming days, the Group plans to organise free health camps. Enduring Social Responsibility The Chaudhary Group employs some of the most integrated CSR strategies among the business houses in Nepal. It conducts CSR activities according to the rules and regulations of Bangladesh Bank guidelines. Is the article based on these companies' CSR activities till date or those in 2016? The airline also acknowledges the need to entrench CSR in its mission statement to ensure alignment with the overall corporate strategy, thus minimizing any potential conflicts between the stakeholders and the shareholder. In order to support people rebuilding and reconstructing houses after last years earthquake, CF has been organising a special project at earthquake affected districts. The company has been doing various CSR activities over the years. Or, find a way to meet real needs for veterans in your community and set up times to meet those needs. It also supports 11 orphan children in a school in Kirtipur with the help of funds from company staff. Youll read about suggestions for improved CSR in your workplace and some fun CSR activities for employees. The bank has a network of HIV Champions (15 in Nepal) who are actively raising awareness about HIV through workplace education. Posted by Hans Bonde Christensen (University of Chicago), Luzi Hail (University of Pennsylvania), and Christian Leuz (University of Chicago), on, Harvard Law School Forum on Corporate Governance, on Adoption of CSR and Sustainability Reporting Standards: Economic Analysis and Review, Adoption of CSR and Sustainability Reporting Standards: Economic Analysis and Review. On the occasion of Panchakanya Day on Bhadra 19, 2067, the company planted 1,200 trees to minimise greenhouse emissions in 1.5 hectares of land in a community forest near Pharping at a total cost of Rs 110,000. The Standard Chartered-Financial Express CSR Award was established in 2006 as a medium to encourage and honour effective and innovative corporate social initiatives that are positively impacting the development of Bangladesh. The company has been organising environment awareness campaigns both inside and outside the Kathmandu Valley. Surya Nepal has established two cattle development centres at Santapur and Judibela of Rautahat district focusing on artificial insemination, fodder management, veterinary services and training development while also organising animal health camps and vaccination camps. The company provided free mobile call services amounting to Rs 1.46 billion immediately after the disaster receiving widespread applause nationally and internationally. We provide one meal and education for free to the orphans and to the children whose parents cannot afford food and education, says Ashmita Sumargi, Chairperson of Bal Sarathi who also looks after CSR activities of the Muktishree Group. Apart from these activities, the bank has been active in supporting victims of natural disasters. Meanwhile, the company is in the process of constructing public toilets at Tilganga and Pashupati areas. Similarly, the Group has given financial assistance to the Chitwan Sahitya Parisad for the development of literature and publishing. SCB Nepal is also engaged in environment campaigns. To UBL its responsibility as a good corporate citizen is an essential element of its core values and the bank endeavors to ensure that the . Shades of Better Future Asian Paints Nepal has been engaged socially for a better society and environment under the main theme of Asian Paints Shades of Care. The income generated from the Bhojan Prasadi Griha goes to PADT. The bank has also been exercising to reduce the level of paper consumption in recent years. The company also supported in the health sector. The environmental commitment of the company has led to its participation in the 'Green Birgunj' campaign where it is active in planting trees in road partitions. The Companies which come within the ambit of Section 135 are required to spend at least 2% of the average net profits every financial year on activities as defined in Schedule VII to the Companies Act. It has branches at Gulshan, and Motijeel in Dhaka. The magnitude of the capital-market effects from a CSR reporting mandate depends, among other things, on the extent to which firms currently withhold material CSR information that, in principle, represents required disclosure under existing securities laws (e.g., Regulation S-K or Section 1502 of the Dodd-Frank Act). Positive Living: Launched in 1999, this global initiative of SCB is an education and awareness programme that aims to reduce new HIV infections to promote safer lifestyle choices to its staff and communities. Nimubs Sahayogi Haath: In 2012, the company launched the 'Nimbus Sahayogi Haat' initiative with seed money of Rs 7.5 million to further strengthen its CSR undertakings. They also report that the business cost of turnover is 30% of median incomeroughly $15K per employee! STANDARD CHARTERED BANK CSR ACTIVITIES THURSDAY 25th SEPTEMBER 2014 STANDARD CHARTERED BANK'S CSR FUTURE PLANS AND INITIATIVES SEEING IN BELIEVING There are 39 million blind people in the world. The company has also been conferring scholarships and excellence awards to topper students of Bachelor of Engineering (BE) Electrical, Electronics and Communication, and Computer faculties of Central Campus Pulchowk, IoE. Corporate Social Responsibility 18 Clarifications by MCA Expenditure incurred by Foreign Holding Company for CSR activities in India will qualify as CSR spend of the Indian subsidiary if, the CSR expenditures are "routed through"Indian subsidiaries and if the Indian subsidiary is required to do so as per section 135 of the Act. Automobile Dealers Struggling to Import Vehicles and Spare Parts, Share Investors Protesting In Front Of NEPSE Office Arrested, Silicon Valley Bank is Largest Bank Failure since 2008 Financial Crisis, Sagarmatha and Lumbini General Insurance begin Integrated Business, Nepal Participates In Qatar International Agricultural Expo, Consumer Price Inflation Rises to 7.88 Percent: NRB, Export and Import Decline in Seven Months of Current FY. They balance economic decisions with their overall effects on society. We endeavour to grow sustainably and will continue to make significant contributions to the communities in Nepal, through engrossed support of our finances, time and expertise through various community upliftment programmes.. Similarly, the company is motivating football and cricket players in the sports sector. . Livelihood and Skill Development: CF has introduced two programmes CG Shipshikshya and CG Unnati under the Livelihood and Skill Development programme. The objective of this project is to construct two permanent eye centres in two districts, upgrade Bhaktapur District Community Eye Centre (DCEC) into a Secondary Level Eye Centre (SLEC) and upgrade Nuwakot DCEC into a periodic surgical facility, informs Poudel. Meanwhile, the bank has also been organising various environmental protection programmes. Standard Chartered was formed in 1969 through a merger of two banks on is The Standard Bank of British South Africa and second is Chartered Bank of India. Find one (or a few!) UBL's CSR activities have focused on multiple sectors, which include but are not limited to: Education. From the international financial reporting literature, we can infer that the role of standards in harmonizing reporting practices is limited, particularly when managerial reporting incentives differ across firms (and countries). Sustainable Environment: The company is one of the partners of Nepals first PET bottle recollection initiative in Kathmandu. Overall, the effectiveness of mandatory CSR reporting hinges crucially on carefully addressing these implementation issues. So, its no wonder many companies want to know how to promote corporate social responsibility through these practices. We have policy and guidelines on corporate responsibility to guide us in CSR process, shares Koirala. CE Construction makes a special effort to ensure the safety of its employees at job sites. According to Shrestha, with the motto of Cultivating Partnerships, the company treats all stakeholders, especially the end users of its products and services, as partners. Bal Sarathi, an independent organisation of Muktishree Group located at Pashupatinath Temple premises is providing free education and meal services to children. Environment has been another area of CSR priority of Ncell, informs Koirala. BBSM actively helps people from economically deprived and conflict affected communities by providing them employment opportunities in the company. A total of 10 community halls are under construction in different parts of the nation at present. The only paint company in the country with waste water Effluent Treatment Plant is active in maintaining the historically remarkable and publicly popular places including Ranipokhari in Kathmandu, Shahid Smarak in Hetauda and ANFA football stadium in Dharan. Additionally, volunteering provides you and your employees the opportunity to: Some companies provide two paid days (or more) off every year for employees to volunteer. Main driving forces behind standard chartered great CSR campaign are derived from the single source that is its core belief and business ideology of the organization . Scb Csr Activities. Seeing is Believing: The initiative has developed to become a global flagship community programme of the bank after its initiation in 2003 as a staff-driven effort. Apart from these core activities, infrastructural support like the construction of drainages and community toilets are also a part of the companys CSR initiatives. The relation between disclosure and litigation risk is nuanced and depends on the disclosure type, news content, and on insiders trading behavior. And if you want to make CSR a part of your company culture, a great starting point is educating your employees on its importance. To achieve this goal and shape managers reporting incentives in the intended direction requires substantial investments in the enforcement infrastructure and in human expertise. It frequently mobilises its staff to volunteer in different community related activities. CF partners with Lions Club International Foundation (LCIF) for NSB. Maybe employees are passionate about caring for American veterans. Ncell App Camp has been another major project that the company ran in 2014 and 2015 aiming to unleash the countrys digital talent, by providing them capacity building training to build businesses around the mobile app idea and to set up their own startup businesses. NT contributed Rs 250 million to the PMs Disaster Relief Fund while the company also raised Rs 20.7 million from staff for the same fund. After the April 2015 earthquake, the bank contributed Rs 5million to the PMs Natural Disaster Relief Fund to aid the quake victims and distributed 500 blankets to keep disaster affected people warm during the winter. Similarly, the Unnati programme is promoting sustainable livelihoods through women empowerment. Connect with us and see how Unboxed Strategic Consulting Services can help you succeed. It has handed over computers and t-shirts to the organisation. Meanwhile, Surya Nepal has also been encouraging the use of organic fertilisers by providing financial and technical support to farmers in the production of vermin-compost. While this evidence could be viewed as suggesting a need for harmonization and CSR standards, the observed variation likely also reflects heterogeneity in firms business activities, in the decision usefulness of these activities for firms (and their investors) and in firms perceived costs and benefits of providing CSR information to outside stakeholders. Health and Sanitation: This programme of CF focuses on improving the health of the people of rural areas through the WASH and Womens Health initiatives. Finally, credible enforcement plays a major role if a widespread CSR reporting mandate is to have substantive economic effects. Under this platform, the company is providing vocational training for example in garment sewing and candle making to needy women helping them gain a measure of economic independence by creating sustainable income generating opportunities. The CSR policy of the company is Giving Back to the Local Community. Established in 1995, CF has chosen Sustainable Social Reform as its main theme to take its initiatives towardsa sustainable and focused model. Nah, Amazon Web Services (AWS), perusahaan Amazon.com Inc, sebagai mitra Bukalapak, mengumumkan bahwa perusahaan all-commerce Indonesia pertama yang melantai di bursa, telah mengembangkan produk layanan perbankan digital bernama BukaTabungan, bekerja sama dengan kelompok perbankan internasional Standard Chartered pada platform AWS. Similarly, it constructed a primary school building in Charpane-1, Jhapa in the memory of Mohan Maya Shrestha, late mother of the Groups Chairman Prem Bahadur Shrestha. By creating new office policies that benefit general wellbeing, youre building a company culture that employees can get behind. Back. Grammar. Instead of wasting time and money, corporate responsibility initiatives impact a companys bottom line by engaging employees and consumers. It has been sponsoring the mens and womens football teams of the Nepal Police since 2068 BS and 2070 BS respectively. The literature suggests that firms generally respond by expanding and adjusting their CSR activities, and that better governance, more societal or stakeholder pressure as well as peer and/or benchmarking effects are the main explanations for these real effects. In collaboration with the Art Lab, the company has supported artists to create various wall paintings with positive vibes under various themes like relationship, life, transformations and identities that. engaging your employees makes them more productive and keeps them around longer, employee turnover and attrition are at all-time highs, how to promote corporate social responsibility through these practices, Investing in and using renewable energy sources, Promoting recycling and composting at the office, Encouraging walk or ride your bike to work days, Time off for special, religious festivities, Implementing environmental and sustainability practices. If firms largely comply with extant regulations, then CSR standards should not produce much new information for investors and the primary benefits must come from standardization, benchmarking, and cost savings. No matter its size, any company can come up with unique CSR activity ideas that impact others. Disaster risk reduction is another area of CSR for the company. The company is also supporting the physically disabled people of the 2006 Peoples Movement by providing one unit of SIM/RUIM cards without charge. BHAT-BHATENI SUPERMARKET & DEPARTMENTAL STORE. "Nimbuss CSR policy envisages uplifting the technical and professional ability of its farmer partners thus creating a positive impact in their day to day lives, says Shrestha. In addition to this, the company organises tree projects like eucalyptus and poplar tree plantations to boost greenery. Though the company doesnt allocate a fixed budget for its CSR activities, it actively provides its support in the areas where they are needed the most. Tools. The bank currently is funding a USD 1 million equivalent project for the period of 2014-2018 with TIO. NMBs Malaysian joint venture partner donated Rs 1.5 million to the Prime Ministers Disaster Relief Fund through the bank after the April 2015 earthquake. Subjects Essays Free Essays Book Notes AP Notes Citation Generator home essays Scb Csr Activities. We identify problems in an area and go with the needed resources," informs Suman Thapa, Assistant Marketing Manager of the company. The company also has a dairy initiative to enhance milk productivity by improving cattle breeding. She was provided Rs 100,000 by the Group in order to help her study a technical subject at higher education. Corporate social responsibility (CSR) involves companies of all shapes and sizes using their time, talent, and resources to influence their employees, communities, and world positively. Another 92% of people say workplace volunteering helps them develop people and teamwork skills (two critical skills in a workplace!). SNPL Prakriti: With the stated mission of Creating Enduring Value Through Environment Preservation, through this initiative, the company focuses on preserving the environment with various activities around the country. 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