Wärtsilä India Private Limited (WIN) acts as a Responsible Global Citizen to promote the Corporate Social Responsibility (CSR) activities which creates added value for local community or stakeholder by undertaking socially useful programmes for welfare & sustainable development of the community at large.
This policy shall apply to all CSR initiatives and activities taken up at areas around the various WIN locations including O&M sites, for the benefit of different segments of the society.
WIN shall undertake and carry out CSR projects specified within schedule VII to the Companies Act, 2013 (the Act) and Companies (Corporate Social Responsibility Policy) Rules, 2014 (the Rules).
CSR committee consists of directors nominated by the Board from time to time. The composition is as required by the Act & the Rules framed thereunder.
Role & Responsibility of CSR Committee
- To Evaluate and Approve CSR Projects
- To Approve CSR Budgets
- To Monitor and review the CSR Project Progress
- Report to Board on CSR Project Progress
- Present Annual CSR Report to Board
- Any other obligation as may be cast by the Act and the Rules framed there under from time to time
- To issue instructions to the CSR Taskforce for preparatory work on CSR Projects, to advise the taskforce on implementation of the CSR Projects undertaken by WIN
All CSR projects / activities are identified in a participatory manner, in consultation with the community and gauging their basic needs. Subsequently, based on a consensus and in discussion with the village panchayats and other key stakeholders, projects /activities are prioritised.
Prior to the commencement of projects, baseline study and / or need assessment shall be done. From the data generated, CSR Projects / Activities are identified for the holistic and integrated development of the marginalised.
Identified Projects / activities are presented by the CSR Taskforce to the CSR Committee for approval. All projects are assessed under the agreed strategy, and are monitored every quarter, measured against targets and budgets. Wherever necessary, midcourse corrections are affected under the guidance of the CSR Committee.
Collaborative partnerships are formed with the Government, the District Authorities, the village panchayats, NGOs and other like-minded stakeholders. This helps widen the Company's reach and leverage upon the collective expertise, wisdom and experience that these partnerships bring to the table.
For achieving its CSR objectives through implementation of meaningful & sustainable CSR programmes, WIN will allocate not less than 2% of its previous 3 year’s average Net Profit computed as per the provisions of section 198 of the Companies Act, 2013 From the annual CSR Budget allocation, a provision will be made towards the following expenditure heads, on a year on year basis:
Rural Development Project by installing the Solar Power for community.
Providing primary health care facility for deprived section of society in villages around Khopoli.
Providing financial support to underprivileged student for completing education.
- Prime Minister's National Relief Fund
- the Swach Bharat Kosh set-up by the Central Government for the promotion of sanitation
- the Clean Ganga Fund set-up by the Central Government for the rejuvenation of river Ganga
- Or any other fund allowed as per act.
We as a company hereby confirm that:
- CSR project / activities undertaken are falling within Schedule VII to the Companies Act, 2013.
- CSR project / activities are not undertaken in pursuance of normal course of business.
- CSR project / activities are not meant for the benefit of only the employees of the Company and their families.
- The expenditure/ contribution shall not in any way be deemed to be a political contribution.
- Surplus arising out of the CSR projects / activities shall not form part of the business profit of the Company. Any such surplus shall be re-invested in the CSR activities only.
- Any unspent / unutilised CSR allocation of a particular year shall be treated in a manner as may be prescribed in law/act and appropriate disclosures shall be made, as may be necessary.