L&T- Sargent & Lundy Limited fosters a culture of care, trust and continuous learning while meeting the expectations of - stakeholders and society at large. As a responsible Corporate Citizen, the Company contributes towards inclusive growth by empowering communities and accelerating development.
The Company’s CSR Policy framework details the mechanisms for undertaking various programmes in accordance with section 135 of the Companies Act 2013 for the benefit of the community.
The Company will primarily focus on ‘Building India’s Social Infrastructure’, so that communities have access to water & adequate sanitation facilities, educational opportunities, better healthcare and sustainable livelihoods, thereby promoting inclusive growth in our operational areas.
Towards this, the Company shall –
- Implement sustainable CSR Programmes towards ‘Building India’s Social infrastructure’
- Partner with communities to identify their needs and provide solutions
- Harness innovation and technology driven solutions to address social needs
- Establish high standards of governance in CSR programmes and deliver positive impact
- Strengthen local NGO’s, institutions through training interventions and building replicable models
- Ensure implementation of monitoring and evaluation mechanism
- Advocate & support conscious corporate citizenship in partnership with state bodies and NGO’s
- Contribute to Prime Minister’s national relief fund
As part of its CSR programme which will include verticals comprising, inter alia, of –
- Water – may include but not limited to programmes making safe drinking water available, conservation and purification of water.
- Education - may include but not limited to education infrastructure support to educational Institutions, educational programmes & nurturing talent at various levels.
- Health - may include but not limited to community health centres, mobile medical vans, dialysis centres, general and specialized health camps and outreach programmes, centres for elderly / disabled, support to HIV / AIDS programme.
- Skill Development - may include but not limited to vocational training such as skill building, computer training, women empowerment, support to ITI’s, support to specially abled (infrastructure support & vocational training), CSTI’s, providing employability skills at project sites, creating training centres.
- Sanitation & Rural Development
Governance & Technology would be the Key drivers across all these verticals.
- The Board of the Company shall allocate at least 2% of the average net profit (as defined by section 198 of the Companies Act 2013) during the three preceding financial years
- The Company may collaborate or pool resources with other entities to undertake CSR activities
- In case of any surplus arising out of CSR programmes the same shall not form part of business profits of the Company
Roles & Responsibilities
The CSR Governance structure comprises of the Board, CSR Committee of the Board and the CSR team.
The Board of Directors of the Company will:
- Approve the CSR Policy of the Company
- Ensure spend of 2% of average net profits
- Disclose the content of the CSR Policy in its report and place the Policy on the Company’s website as prescribed under Section 135 of the Companies Act 2013 read with the Companies (Corporate Social Responsibility Policy) Rules, 2014
- Specify reasons in its report for not spending the earmarked amount in case the Company fails to spend such amount
- The Board will form the CSR Committee in accordance with the requirements of the Companies Act 2013
CSR Committee of the Board:
Responsibility of the CSR Committee:
- Formulate and recommend the CSR Policy to the Board for approval
- Ensure that the social programmes undertaken are aligned to the CSR Policy of the Company
- Recommend the amount of expenditure to be incurred on CSR programmes
- Constitute transparent monitoring mechanism for ensuring implementation of the CSR programme
- Allocate the programmes to the CSR Team to implement the same
- Submit quarterly reports to the Board of Directors
Responsibilities of the CSR Team:
- Spread awareness regarding the approved CSR policy
- Provide guidance to Units CSR teams to ensure that all CSR programmes are aligned with Company’s CSR policy
- Recommend programmes to be undertaken during the financial year to the CSR Committee of the Board
- Facilitate effective implementation of CSR policy at all locations
- Promote synergy at all locations and share best practices to achieve desired outcome for community development
- Develop measurable benchmarks and get the same approved by the CSR Committee
- CSR programme will be undertaken by the Company in identified areas. The Company will undertake need assessments as and when required.
- The time period/duration over which a particular programme will be spread, will depend on its nature, extent of coverage and the intended impact of the programme
- The Company may enter into partnerships with the government, business partners and communities to create multiplier effect of its social programmes
- The mode of implementation of CSR programmes will include a combination of direct implementation and / or through partners such as NGOs, Trusts, academic institutions, business associates, registered societies etc. The Company will select its partners after appropriate due diligence.
- The Company may use the services of internal teams, employee volunteers, expert agencies, consultancy firms etc. wherever required for carrying out base line surveys, guidance on programme design and implementation, impact assessment surveys etc. The same shall be part of CSR amount spent in that financial year.
Monitoring & Reporting Framework
At CSR Committee level:
- The CSR Committee will review the implementation of the CSR programmes on a quarterly basis and the CSR audit reports periodically, and arrange to share the Company’s the best practices
- Review the implementation and monitoring mechanism appropriately
- Report to the Board appropriately