Cooper Corporation as a part of its corporate policy and ethics, has been discharging it’s social responsibility since many years, though the CSR has become mandatory under Companies Law recently.
CSR Policy :
Our Approach to CSR is guided by following themes.
- Approach is mainly focused on development rather than welfare. If you offer a fish to a hungry person you feed him for a day. If you teach him fishing he feeds himself through life.
- Community being important stake holder, CSR activities extends to community with main focus on schools/children and their development and health.
- Creating awareness of need for environment protection amongst children and encouraging initiatives towards tree plantations etc.
Scope of CSR actions:
Based on the CSR policy, we already pursue following initiatives.
- Establishing and upgrading Developmental Libraries inspirational, motivational, scientific temperament oriented and knowledge based books, for schools, community centers, Small Help group activities and NGOs .
- Various social and welfare and developmental activities through establishment and supporting financially the Nariman Cooper Trust and Homai Cooper Charitable Trust.
- Creating institute for skill development and enhancing employability in the community with a focus on work values through Cooper DMCFS Skill Development Foundation
- Supporting and creating financial self-reliance amongst women belonging to employee families and community around through establishment of Homai Cooper Grahini Udyog activities
- Creating awareness of nutritious food in schools for good health.
- Tree plantation initiatives through schools and communities
- Financially Supporting various sports competitions
- Organizing training sessions of experts on good food habits for children and adults, particularly focusing community women.
- Established and supporting Reform Center in Satara prison.
- Set up an unique Saam N cooper Development Center at Sainik School ,Satara with a big library setup, e-Redaers Kindle, Audio Visual center and converted all classrooms to smart Digital Classroom
- Activities that support cause of farmers and programs like Swaccha Bharat , rural development and water conservation.
- Activities that help environment cause like biogas plants and renewable energy.
Board- level CSR Committee:
Our CSR program will be directed by the Board Level CSR committee that will be ultimately responsible for the CSR projects undertaken. The committee will report to Board of Directors.
- Members of the CSR Committee:
- 1)Mrs. Maharookh F Cooper
- 2)Mr. J B Patil
- 3)Ms. Manisha F Cooper
- Responsibilities of CSR committee:
- 1)Formulate and update CSR Policy, to be approved by the Board.
- 2)Suggest areas of activities and programs under CSR to the Board.
- 3)Approve activities that are in line with CSR policy.
- 4)Put monitoring mechanisms in place to track the progress of each activity.
- 5)Recommend the CSR expenditure to the Board for approval
- 6)To review the progress of CSR programs and activities periodically.
The total budget for the CSR projects shall be decided by the CSR committee. The amount specified by committee should not be less than 2% of the average net profits made during the three immediately preceding financial years. The surplus arising out of the CSR projects or programs or activities will not form part of the business profit of the company.
The policy is formulated for the prudent Compliance of Section 135 of Companies Act 2013. CSR committee is authorized to review the policy from time to time based on Statutory Amendments, modifications, re-modifications, if any, as may be necessary.
In compliance with the Act and to ensure funds spent on CSR Activities are creating the desired impact on the ground a comprehensive Monitoring and Reporting framework has been put in place. The CSR Committee shall monitor the implementation of the CSR Policy through periodic reviews of the CSR activities and programms.
- CSR Committee will formulate the CSR policy after consultation with all board members.
- CSR Committee will make the plan for expenditure of CSR funds during the specified period. Board of directors and committee members will take the decision.