Corporate Social Responsibility Policy
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.
Philosophy
Recognising that business enterprises are economic organs of society and draw on societal resources, it is Quadrafort’s belief that a company's performance must be measured by its Triple Bottom Line contribution towards building economic, social and environmental capital. Quadrafort 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, Quadrafort will continue crafting unique models which have a significant multiplier impact on sustainable livelihood creation and environmental replenishment.
Programmes, projects and activities (hereinafter collectively referred to as 'CSR Programmes') carried out in this regard are the subject matter of this Policy.
CSR Policy
It is Quadrafort’s Policy to direct its CSR Programmes, inter alia, towards achieving one or more of the following - poverty alleviation; promoting education and skill development; ensuring environmental sustainability; enabling climate resilience; and providing relief and assistance to victims of disasters and calamities.
In pursuit of the above, Quadrafort has identified the following focus areas for its CSR Programmes.
Early Childhood Care and Education
A happy, healthy and creative child whose rights are protected and honoured in a society that is built on respect for dignity, justice and equity for all. Malnutrition is the primary reason behind 69% of deaths of children below the age of five in India. Every second child in India, belonging to that age group is affected by some form of malnutrition. We are also home to 46.6 million stunted children, a third of the world's total as per Global Nutrition Report 2018. Most of these children belong to the most vulnerable communities like migrant workers. Recognising the importance of Early Childhood Education and Care, we are associated with CRY (Child Rights and You)
Livelihood Enhancement through Technology Skilling
In today’s world being educated by no means is about knowing only English, Hindi and Mathematics. One would not be able to survive in today’s digital world, nor get benefit of Government services, if one did not know, how to use computers. In addition, there would be no job in future where some or other computer application would not be there, which will make a non-computer educated person a misfit for that job and consequently in our society. Hence knowing computers is no more a luxury but a basic necessity. To address these aspects, we got associated with Computer Shiksha which is run and managed by group of IT and management professionals who vowed to address the challenge of Digital Divide
Environmental Stewardship: Striving for sustainable eco-friendly growth
Our Environment programs will be delivered through:
- Environmental NGOs
- Recognized and Government Approved Incubators supporting social enterprises
- Eco engagement and volunteering initiatives along with our key stakeholders--employees, clients and suppliers and the communities we work and operate in
- Extending support to any disaster relief efforts as required
The Company aims:
To engage in affirmative action interventions thru 1% Pledge Program which we have committed to invest 1% of the company profit towards CSR activities.
To pursue CSR Programmes primarily in areas that fall within the economic vicinity of the Company's operations to enable close supervision and ensure maximum developmental impact.
Governance
Every year, the CSR and Sustainability Committee will place for the approval of the Board of Directors of the Company (hereinafter referred to as 'the Board'), an annual CSR Action Plan (hereinafter referred to as 'CSR Plan') delineating the CSR Programmes to be carried out during the financial year, including the budgets thereof, their manner of execution, implementation schedules, modalities of utilisation of funds, and monitoring & reporting mechanism for the CSR Programmes. The Board will consider and approve the CSR Plan with such modification that may be deemed necessary; the CSR Plan may also be modified by the Board during the financial year, on the recommendation of the CSR and Sustainability Committee.
CSR Expenditure
It will be the Company's endeavour to spend in every financial year, one percent of its net profits on CSR Programmes in pursuance of this Policy. The CSR expenditure will include all expenditure, direct and indirect, incurred by the Company on CSR Programmes undertaken in accordance with the CSR Plan.
This Policy will be posted on the Company's corporate website www.quadrafort.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.