Specifically, the paper (i) discusses insights from extant literature in accounting, finance, management, and economics that are relevant for an assessment of the economic effects of CSR reporting; (ii) reviews the key determinants and the current state of CSR reporting; (iii) discusses potential effects of mandatory CSR reporting standards for important stakeholders such as investors, lenders, analysts and the media, consumers, employees, but also for society at large; (iv) outlines firm responses and real effects from mandatory CSR reporting standards; and (v) considers important implementation issues for an effective CSR reporting mandate. Nepal Telecom provided notable services during last years earthquake. The relation between disclosure and litigation risk is nuanced and depends on the disclosure type, news content, and on insiders trading behavior. Marketing Strategy of Standard Chartered analyses the brand with the marketing mix framework which covers the 4Ps (Product, Price, Place, Promotion). 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. Calling the activities of the company a fruitful partnership, he says that oneof the most important benefits of the CSR is to promote greater efficiency and deliver customer satisfaction through team work. Our projects are designed focusing on sustainability and they aspire to bring about direct benefits to the people and communities, mentions Sanju Koirala, Corporate Communications Director of Ncell. Through this initiative, nearly 300 tonnes of PET bottles have been collected from Kathmandu and successfully exported to India for recycling and reuse. Sustainable Environment: The company is one of the partners of Nepals first PET bottle recollection initiative in Kathmandu. 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. In Nepal, the bank has helped to restore the eyesight of over 7,000 Nepalis partnering with the Tilganga Institute of Ophthalmology (TIO) and other local eye hospitals across the country. Regardless of the initiatives you choose, its important that you get employees involved and connected with local or global opportunities. When your organization looks to cut carbon emissions, youre placing a high value on the environment. Community Contribution Muktishree Group contributes 10 percent of its annual profit for CSR purposes. 0 0.5 1 1.5 2 2.5 3 3.5 4 4.5 Rural development Being socially responsible is historically embedded in the Nepal-based multinational conglomerates initiatives as it has been actively engaged in CSR and philanthropy activities since the days of the Groups Founder Lunkaran Das Chaudhary. In 2014, Ncell contributed Rs 201 million to the Prime Ministers Disaster Relief Fund for relief of the families affected by floods and landslides in different parts of the country. 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. We conclude based on reviewing the extant literature that CSR reporting standards have the potential to improve information to investors and other stakeholders. Protecting Environment, Empowering Women The producer of Coca-Cola, Sprite, Fanta and other soft drinks in Nepal has multiple CSR initiatives at its disposal aiming to have a positive environmental and social impact. NSB has mainly focused its activities in the mid and far-western regions of the country. Apart from these core activities, infrastructural support like the construction of drainages and community toilets are also a part of the companys CSR initiatives. This literature suggests that more and better (CSR) information can benefit capital markets through greater liquidity, lower cost of capital, and better capital allocation. CSR initiatives are an excellent way to engage with your employees and make a good impression with potential customers and clients. The company also encourages spiritual practices among people by organising meditation programmes. Plagiarism You can have some great ideas, but if employees dont understand the value of CSR and how to do it, you might not have great success. Likewise the company is also distributing materials related to sanitation to communities once a year on the occasion of its anniversary. Environmental and sustainability practices are a hot topic in our world today. Asian Paints Nepal has also prioritised education and supporting differently able in its CSR initiatives. Standard Chartered Investments and Loans (India) Limited Corporate Social Responsibility OBJECTIVE: Standard Chartered is a leading international banking group, with around 84,000 employees and over a 160-year history in some of the world's most dynamic markets. Whether through environmentally friendly practices, charitable giving, or workplace volunteer programs, these organizations look to impact the world around them. Meanwhile, the bank has also supported Sushmita Maskey financially for her expedition to Mount Everest which she had decided to undertake to raise funds to create awareness about rights of Nepali women. Tools. Similarly, it provided t-shirts printed with messages of awareness to the Ministry of Environment on the occasion of World Environment day in 2012. CSR aims to fulfill expectations that society has from business and it is viewed as a comprehensive set of social policies, practices and programs that are integrated throughout the business operations. So, its no wonder many companies want to know how to promote corporate social responsibility through these practices. It has also constructed school buildings in remote areas. 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. Meanwhile, the ongoing phase three of the programme is focused on reconstruction and rehabilitation. The event was organised for three consequent years in 2011, 2012 and 2013 and each winner receives a purse of Rs 100,000. Over the last few years, we have significantly adopted solar power to operate our base transceiver (BTS). With the stated objective of Creating Enduring Value for the Society, Surya Nepal is conducting CSR activities employing four CSR strategies namely, SNPL Asha, SNPL Khelparyatan, SNPL Prakriti and SNPL Suswasthya. It has also been supporting the construction of temples along with the upgrade of public educational institutions. It also financially contributed to the4th Real Kathmandu Marathon 2010 and Mister Nepal (body building) competition held in Kathmandu. Apart from these activities, the bank has been active in supporting victims of natural disasters. CF partners with Lions Club International Foundation (LCIF) for NSB. The company also supported Mendies Haven, a home for deprived and neglected children by giving out essential goods like heaters, television and toys for the children in the organisation. Yet, 80% of blindness is avoidable. This statistic shows that consumers and customers are looking to purchase from and partner with companies that promote CSR. The company has made a commitment to contribute Rs 1 billion for the reconstruction and rehabilitation of heritage sites and community schools etc over the period of three years. You guessed right, the . Through the social business initiatives, CF has incubated and invested on nutritious food production factor in Jumla with main objective to address malnutrition among children and lactating mothers of Jumla. The company provided free mobile call services amounting to Rs 1.46 billion immediately after the disaster receiving widespread applause nationally and internationally. It has introduced different programmes in social, economic and environmental sectors. Corporate social responsibility, often abbreviated "CSR," is a corporation's initiatives to assess and take responsibility for the company's effects on environmental and social wellbeing. The company is also supporting the physically disabled people of the 2006 Peoples Movement by providing one unit of SIM/RUIM cards without charge. Besides this, it distributed tents and other food items for the earthquake victims in different affected areas. The bank has been annually organising Nepal Walkathon, a fund raising and awareness event on avoidable blindness and encouraging the visually impaired. The programme has been continuing with the Group marking the World Earth Day in April, 2016 by starting a campaign to plant trees on the footpaths in areas including Kupondole, Jawalakhel, Singhadurbar, Tripureshwor-Sundhara and Bhrikutimanadap. The consciousness of social responsibility has led them to share their profit with the society and getting engaged in multiple areas of social well-being. Meanwhile, the company has been providing financial contributions to templesin various areas of Kathmandu, outside the capital and even in Haridwar, Indiain a bid to preserve Nepali heritage. 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. 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. It has been providing Rs 20,000 for national level swimmers on a monthly basis and Rs 100,000 for every record they break in an international sporting event. CSR standards are likely most useful to these stakeholders, who typically have more of an arms length, passive relationship with firms. The leading paints company of the country organises regular tree plantation programmes in the vicinities Asian Paints facilities. Sports. Second, CSR helps you engage with customers and consumers. The Group has been contributing financially to various temple management committees including the Gokarneshwor Kshestra Vikas Samiti and Koteshower Mahadev Khetra Vikash Thatha Bewastha Samaj for various purposes. 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. Education remains our top CSR focus areas, says Koirala. Nimbus has also employed females who are under the protection of Maiti Nepal at Nimbus Krishi Kendra, the company owned one-stop agri-input centre. Similarly, the company provides technical knowledge to farmers about tobacco farming. It has contributed Rs 10 million to open the Rapti road track in Hetauda through Madhab Raj Sumargi Trust. The bank has also been supporting the victims of the 2015 earthquake. In addition, the bank has also been providing free remittance facility to people looking to donateto the temples of Pasupatinath and Janaki from across the country and India to the accounts of the respective temple management committees. Hans Bonde Christensen is Professor of Accounting at the University of Chicago Booth School of Business; Luzi Hail is Professor of Accounting at the Wharton School of the University of Pennsylvania; andChristian Leuz is the Joseph Sondheimer Professor of International Economics, Finance and Accounting at the University of Chicago Booth School of Business. Engaging employees is especially important right now as employee turnover and attrition are at all-time highs. The impact is made through various on-ground free training sessions given to farmers to better manage their livestock, use sustainable farm practices and uplift crop output through modern farming techniques. The campaign focused on the importance and the need for every individual and eventually the economy to be self reliant. 71% of employees say that volunteering through work makes them feel better about their employer. Find one (or a few!) The project also aims to create awareness about eye care among school teachers through training programmes, to train 750 primary school teachers on basic eye care, screen school children and supply 3,810 spectacles and provide cataract surgery service to the needy through the cross-subsidy model. 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. CE also funds women empowerment programmes and provides a budget on an annual basis to the Nepal Blind Association. It should be done for the wellbeing of others. Sustainability is embedded in our brand promise, here for good, and affects every single thing we do, the way we make decisions, the contribution we make to local economies and the impact that we have when we bank the people and companies driving investment, trade and the creation of wealth across our foot prints, mentions Diwakar Poudel, Head - Brand and Marketing and Corporate Affairs of SCB Nepal. Other educational support included assistance in the construction of Shree Pasupati High School at Rupandehi Madhwaliya VDC and a school building in Amlekhgunj of Bara. The company worked with Fellowship Society Nepal, an organisation working to provide education, health and employment to visually challenged people. The phase has been divided into three projects namely, CG Ashraya, CG Shikshyalaya and CG Sipsikchya to build transitional shelters and schools in the quake hit districts and provide demand driven skill-based vocational training to the youths of the affected areas. The company has been doing various CSR activities over the years. The parent entity of four agri business companies, Nimbus has been organising CSR activities in 65 districts of the country where it has distribution and supply chains. Some suggestions for improving CSR in regards to the environment and sustainability include: You could also create a custom online employee training program that helps employees better understand the intersection between their role and sustainability. Similarly, the Group has given financial assistance to the Chitwan Sahitya Parisad for the development of literature and publishing. NT is planning to conduct more remarkable activities in CSR in the upcoming days. Presently, about 15 percent of the company sites (mobile towers/BTS) are backed up or fully operate with solar power, says Koirala. Workplace volunteering opportunities have significant benefits for you and the local community. Our Corporate Social Responsibility (CSR) philosophy is hinged on "Improving healthcare through quality medicine". Subjects Essays Free Essays Book Notes AP Notes Citation Generator home essays Scb Csr Activities. In the meantime, the Group has completed two community halls at two districts. In addition to this, the company organises tree projects like eucalyptus and poplar tree plantations to boost greenery. SCB Nepal is providing financial assistance of over USD 400,000 to a reconstruction project in Kavre partnering with Habitat for Humanity. To the extent that firms CSR disclosures provide new information that is relevant to capital market participants, much of the existing literature in accounting, finance, and economics on the effects of corporate disclosure and reporting applies. We identify problems in an area and go with the needed resources," informs Suman Thapa, Assistant Marketing Manager of the company. Prior literature also shows that corporate disclosures involve proprietary and litigation costs. Besides the shelters, the company has also build roads, waste management bins, solar lights in the quake affected area by associating itself with SEEDS, an Indian NGO to provide shelters and other facilities in the reconstruction site. Similarly, the company is motivating football and cricket players in the sports sector. For instance, Ncell has planted 50,000 trees in 33 hectares of barren land in Dhanushadham Protected Forest (DPF) and implemented an awareness campaign in the Dhanushadham community aiming to contribute to reforestation and environment conservation. The Group conducted a CSR initiative named "Paint a School" in 2012. The project is the first of its kind in Nepal, as it uses a remote monitoring system using SIM metering technology which has been implemented to measure the distribution of water for domestic and irrigation needs. The Groups CSR initiatives are also equally responsible towards its employees. The company has signed a MOU with Morang Chambers of Commerce Industry and has provided employment to 300 women in the local industry in Morang. It has also provided financial assistance to orphanages like BalMandir and old age homes. It can be especially beneficial to survey or poll your employees to find out issues and causes theyre passionate about. In addition to this, Surya Nepal is also a pioneer of the Annual Social Entrepreneurship Award. We believe that CSR is a long-term approach to business that addresses the needs of communities, people and the company, says Puneet Varshney, Director of Bottlers Nepal Limited. For the betterment of security services, the bank has also helped the Community Service Committee to construct a police beat at Chabahil, Kathmandu. Surya Nepal also supports public education institutions aiming to enhance the quality of primary education. Its activities are basically focused on areas like environment, health, safety and society. The bank especially focuses on heritage conservation, inside and outside the valley and has been continuing the initiative for the last five years. The awareness project has contributed to local communities cohabiting and contributing to conservation of the DPF. The Foundation has a training centre located at CG Industrial Park, Nawalparasi that provides various vocational trainings in professions including masonry, carpentry, and electrical works, among others. UBL's CSR activities have focused on multiple sectors, which include but are not limited to: Education. It has organised a number of cleaning and tree plantation programmes at various temple areas. Panchakanya Group in recent years has been supporting expeditionary and sporting events as part of its CSR activities. non-profits or causes youre passionate about and start encouraging your employees to invest monetarily. An investment in CSR shows your employees that you care and think about issues outside of business. Without putting in extra time, you and your employees can make a real difference simply through the power of the dollar. During the post earthquake scene in 2015 and the subsequent fuel crisis that left the economy crippled, the bank organised a campaign on the importance of self reliance in reconstruction and the countrys economy. WASH: Bottlers Nepal is actively working to increase access of students to adequate sanitation facilities in schools. 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. The Foundation has trained over 100 entrepreneurs and incubated 22 projects. As per Shrestha, Nimbus allocates Rs five million every year for the purpose and has spent Rs 60 million in CSR till date. A 2020 study by the Workforce Institute reports that 52% of US employees are looking for a new job. 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. The company puts emphasis on producing environment friendly products. Heritage and Spiritual Development: Under the programme, CF aims to preserve cultural heritage and provide inner peace and tranquility to the people. I'm really proud to see not one, but two projects from #StandardCharteredPoland as finalists shortlisted for the #CSRPoland awards! Chaudhary Groups Chairman Binod Chaudhary has been personally engaged in maintaining the Pashupatinath Temple and adjacent areas. Section 135 of the Companies Act 2013 lays down the provisions for corporate social responsibility (CSR). In this article, well share how to promote corporate social responsibility in your company. Ncell has also been implementing projects aiming to improve livelihood of the people in different communities. Our consulting team is ready to help you jumpstart CSR training in your workplace today. Its clean water project in Eladi, Dipka and Thuladi villages of Syangja district has strengthened the livelihoods of 75 families in those villages. 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. Corporate. 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. Others have a few company-wide volunteer opportunities each year. 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. Under the Initiative, EBL supports such institutions to improve their infrastructures along with the quality of education. Cultivating Partnerships With the zeal to improve and enhance the quality of the lives of farmers, Nimbus Holdings works with farmers to increase their productivity, to support their families and invest in their farms to build a stronger economic foundation. In 2011, EBL provided t-shirts to Mataya Jatra Organising Committee in a bid to conserve local culture. The company is providing video data at 50 paisa per minute for the hearing and speech impaired. 1: Core thrust areas for reported CSR activities in public sector banks Source: Compiled from respective websites of Selected public sector banks. 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. Standard Chartered - Treasury Management International. Environment has been another area of CSR priority of Ncell, informs Koirala. According to him, the bank works closely with local partners and employee volunteers to deliver programmes focused on health and education. It constructed temporary shelters for 30 families in Parigaon, Naubise VDC of Kathmandu. The award recognises the best entrepreneur who focuses on employment generation and sustainability. As a part of our CSR activity, we will be contributing to rebuilding the Dhararha destroyed in last years earthquake.. Well, well, it looks like democracy took a dive in our country, and guess who's making big bucks out of it? SCBN's CSR initiative. A combination of private assurance with public enforcement is most likely to succeed in a securities market setting with few and sometimes large private corporations and many individual investors with limited resources. Finally, credible enforcement plays a major role if a widespread CSR reporting mandate is to have substantive economic effects. In phase two, necessary relief aid such as tents, bottled water, noodles, juice were distributed using CG Foods distribution and logistics network. Using the Inco-panel, a weather proof construction material produced by the Groups own manufacturing unit, it has built two such facilities in Makawanpur and Kavre districts with each hall having a capacity of 1,000 people. Our BEST by Corporate social responsibility (CSR) refers to strategies that Corporations or firms employ to conduct their business in a way that is . Scb Csr Activities. The community members contribute fund based on water usage for the operation and maintenance of the system. BBSM has funded the emergency wing of the Teaching Hospital in Maharajgunj.