KPMG India CSR Reporting Survey 2019
We have launched the report for the fifth year and provides a comprehensive analysis of the compliance and good practices of N100 companies with respect to CSR Policy and reporting in Director’s Report/ Annual Report of Companies.
Please find below the key highlights of the same:
-More companies are complying to requirements of Section 135 of the Companies Act, 2013.
-325% increase in the number of companies that have disclosed details of outreach in annual report.
-30% companies have had more than three CSR committee meetings.
-76% companies have spent 2 per cent or more during the current year.
-41% companies have aligned CSR projects to SDG’s in their annual report.
-150% increase in the number of companies that have committed to carry forward 2 per cent of unspent amount.
-The cumulative expenditure by N100 companies over the last five years (2014-19) is INR 35077.
-220% increase in expenditure towards Schedule VII (3) – ‘reducing inequality’ at companies with ‘women as Chairperson of CSR committee’.
-75% CSR projects implemented through partnerships - a demonstration of SDG 17.
-18% companies have a CSR Foundation
-Energy and power, BFSI and IT Consulting sectors are the top three sectors in terms of absolute CSR expenditure during 2018-19, accounting for 66 per cent of the total expenditure by N100 companies.
-The sectors which have spent less than the prescribed 2 per cent amount towards their CSR are BFSI, IT, media & entertainment, services, aviation and telecom
Santhosh Jayaram, Partner and Head, Sustainability and CSR Advisory at KPMG in India says, “While the overall CSR ending is increasing, it is also heartening to observe the increase in number of companies going beyond the 2% mandate and even companies who are not required to spending allocating budgets for CSR and spending”. The overall governance indicators around CSR have shown a steady improvement in last 5 years. The indicators representing the functioning of the CSR committee, the diversity in CSR committee and the improvement in monitoring and evaluation are showcasing this”.