Kolkata: Coal India Limited (CIL) marked a decade of impactful Corporate Social Responsibility (CSR) initiatives with the inauguration of its 3rd CSR Conclave in Kolkata. The event celebrated the company’s significant contributions under India’s CSR legislation, highlighting its steadfast commitment to societal well-being.
The Governor of West Bengal, Dr. C V Ananda Bose, inaugurated the event as the Chief Guest and lauded CIL’s social initiatives. “We are living in a transformational era, and we must see beyond boundaries to build lasting relationships,” Dr. Bose remarked, acknowledging the far-reaching impact of CIL’s CSR projects.
Since the institutionalization of CSR a decade ago, CIL has spent an impressive ₹5,579 crore, exceeding the statutory requirement by 31%. Between FY 2015 and FY 2024, the company was mandated to spend ₹4,265 crore but surpassed the target by ₹1,314 crore, with an average annual CSR expenditure of ₹558 crore.
Healthcare, education, and livelihood emerged as focal areas, accounting for 71% of the decade’s total CSR spend. Notable achievements include:
- Healthcare: ₹2,770 crore (close to 50% of total CSR outlay).
- Education and Livelihood: ₹1,208 crore (over one-fifth of total CSR expenditure).
The remaining funds were allocated to rural development, environmental sustainability, disaster management, and promotion of sports.
Around 95% of CSR funds were utilized in CIL’s operational states, with Odisha, Chhattisgarh, Jharkhand, Madhya Pradesh, and Maharashtra being key beneficiaries. This focused approach underscores CIL’s commitment to uplifting communities in its core operational areas.
Vikram Dev Dutt, Secretary, Ministry of Coal, emphasized the importance of CSR as an article of faith for CIL and its subsidiaries. He announced the introduction of theme-based CSR initiatives starting January 2025, to ensure a focused and impactful approach to community development.
CIL’s Chairman, P M Prasad, reiterated the company’s dedication to CSR, with a decade-long pan-India investment focused primarily on health and education. Meanwhile, Vinay Ranjan, Director (Personnel) of CIL, highlighted a unique milestone: CIL was the first Central Public Sector Enterprise (CPSE) to establish a dedicated Community Development Cadre in 2014 to ensure a more targeted focus on CSR activities.
As per the Companies Act 2013, CIL’s CSR budget is determined as 2% of the average net profit of the preceding three financial years or ₹2 per tonne of coal produced, whichever is higher. A strategic allocation ensures that 80% of the CSR fund is spent within 25 km of command areas, with the remaining 20% supporting state-level projects. The apex body, CIL, operates without geographical restrictions, enabling pan-India initiatives.
Comments are closed.