CSR Practices Followed in Itc - Sustainability Essay Example
“We believe that are corporate strategy which embraces societal development as an integral part of our mission of wealth creation for our stakeholder ensure the long term sustainability of our business enterprise - CSR Practices Followed in Itc introduction. Inspired by the opportunity to contribute to a more secure and sustainable future, your company has structured innovated business model that leverage its brand, technological capability, agri-sourcing strength and unmatched trade distribution network to create opportunities for sustainable livelihood. ” Y. C. Deveshwar (Chairman ITC Ltd. ) Envisioning a larger societal purpose has always been a hall mark of ITC .
The company sees no conflict between the twin goals of shareholder value enhancement and societal value creation. The challenge lies in fashioning a corporate strategy that enables realization of these goals in a mutually re enforcing and synergistic manner. As a corporate citizen with enduring relationships in rural India. ITC Has a history of collaboration with communities and government institutions to enhance farm productivity and the rural resource base. ITC’S commitments in agricultural R&D and knowledge sharing have spanned vital aspects of competitiveness—efficient farm practices, soil and water management.
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In 2000, harnessing the empowering force of information technology and its scalability, ITC launched e-Choupal—a knowledge portal providing farmers with a range of information and services. Designed to enable them to bargain collectively and enhance their transactive power. e-Choupal become the much needed and easily adoptable tool farmer has been waiting for. Today e-Choupal is a vibrant and rapidly growing zone of business nad interaction for over 4 million farmers. ITC moves rapidly to apply the ecomomic momentum of e-Choupal to solving urgent social and environmental tasks.
ITC launched Mission Sunhera Kal, a rural capability building programme fostering local initiatives to develop water and forest resources, open a new non-farm livelihoods, empower women economically and expand primary education. The Mission now embraces a community of thousands of villages that are influential nuclei of change in rural localities spread over 11 states . A clearly focused self-help movement has gained ground in village after village in these areas, with farmers co-operating to create much needed economic, environmental and social assets out of their own resources.
By linking knowledge and technology transfer to the creation of economic and social capacity. ITC has brought a new dynamic to rural development. ITC has consciously chosen the path less travelled. A path that has led to create sustainable livelihoods for 5 million people. For ITC this is an expression of a commitment beyond the market. Of a true pride in being Citizen first. ITC has continue to build new infrastructure by supplementing the farmgate presence of e-Choupal with new physical infrastructure—rural marketing hubs called Choupal Saagars, positioned with tractorable distance of 30 e-Choupal centre’s and their user communities.
CSR activities followed by ITC Environmental:- 1. ITC has been ‘Carbon positive’ four years in a row (sequestering/storing twice the amount of Co2 that the company emits). 2. ‘Water Positive’ seven years in a row (creating two times more Rainwater Harvesting Potential than ITC’s net consumption). 3. Solid Water Recycling Positive 4. All environment, Health and safety management in ITC conform to the best international standards. Social:- 1. ITC’s businesses generate livelihood for over 5 million people.
2. ITC globally recognized e-Choupal initiative is the world largest rural digital infrastructure benefiting over 4 million farming families. 3. ITC’s Social and farm forestry initiative has greened over 95,000 hectares, creating an estimated 43 million person days of employment among the disadvantaged. 4. ITC’s watershed Development initiative brings precious water to more than 46,200 hectares of drylands and moisture stressed areas. 5. ITC’s sustainable community Development initiatives include women empowerment, supplementary education, integrated animal husbandry programmes.
Economic:- 1. A growing portfolio of business encompassing FMCG, Paperboards & packaging, Agri and Food business, Hotels and information technology. 2. A turnover of nearly US$ 5 Billion and a market capitalization of nearly US$ 18 Billion. 3. Total shareholder returns measured in terms of increases in market capitalization and dividend, grew at a compound rate of over 25% per annum over the last 10 years. 4. The new FMCG businesses support the competitveness technology upgradation and market reach of over 150 Small and Medium Enterprises(SMEs). 5. ITC provides direct employment to more than 29,000 people.