This Corporate Social Responsibility (hereinafter referred to as 'CSR') Policy is framed in terms of the Companies Act, 2013 (hereinafter referred to as 'the Act') read with the Companies (Corporate Social Responsibility Policy) Rules, 2014 (hereinafter referred to as 'the CSR Rules'), as amended from time to time.
Recognising that business enterprises are economic organs of society and draw on societal resources, it is ITC's belief that a company's performance must be measured by its Triple Bottom Line contribution towards building economic, social and environmental capital. ITC believes that in the strategic context of business, enterprises possess - beyond mere financial resources - the transformational capacity to create game-changing development models by unleashing their power of entrepreneurial vitality, innovation and creativity. In line with this belief, ITC will continue crafting unique models which have a significant multiplier impact on sustainable livelihood creation and environmental replenishment. These initiatives are independent of the normal conduct of ITC's businesses and are aligned to the activities listed in Schedule VII read with Section 135 of the Act and the CSR Rules.
Programmes, projects and activities (hereinafter collectively referred to as 'CSR Programmes') carried out in this regard are the subject matter of this Policy.
It is ITC's Policy to direct its CSR Programmes, inter alia, towards achieving one or more of the following - poverty alleviation; promoting education and skill development; promoting healthcare including preventive healthcare; providing sanitation and drinking water; ensuring environmental sustainability; enabling climate resilience; rural development projects; creating livelihoods for people, especially those from disadvantaged sections of society; protection of national heritage, art and culture; preserving and promoting music and sports; and providing relief and assistance to victims of disasters and calamities.
In pursuit of the above, ITC has identified the following focus areas for its CSR Programmes based on comprehensive need assessment surveys of its stakeholders:
The Company aims:
The Company's CSR Programmes will be implemented through (i) Company personnel, or (ii) external implementing agencies, or (iii) ITC Trusts viz., ITC Education and Health Care Trust, ITC Rural Development Trust, ITC Sangeet Research Academy, ITC Bhadrachalam Education Trust and Tribeni Tissues Education Society, and (iv) such other Trusts, Societies, Foundations and Section 8 companies that may be established by the Company from time to time.
In case CSR Programmes are implemented through external agencies or ITC Trusts, the programmes to be undertaken by those agencies or Trusts will be specified, and it will be ensured that such programmes are covered in the Objects laid down in the respective Trust Deeds / Memoranda and Articles of Association of the external agencies / ITC Trusts.
This Policy will be posted on the Company's corporate website www.itcportal.com and web link thereto will be disclosed in the Board's Report of the Company.
In the event of any inconsistency between this Policy and the applicable laws, the applicable laws will prevail.
This Policy will be reviewed by the Board, on the recommendation of the CSR and Sustainability Committee, as and when deemed necessary.