CENTURY METAL RECYCLING LIMITED
Recognizing that business enterprises are economic organs of society and draw on societal resources, it is Company’s belief that a company’s performance must be measured by its Triple Bottom Line contribution to building economic, social and environmental capital towards enhancing societal sustainability. Company 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, Company will continue crafting unique models to generate livelihoods and environmental capital. Such Corporate Social Responsibility (“CSR”) projects are far more replicable, scalable and sustainable, with a significant multiplier impact on sustainable livelihood creation and environmental replenishment. These initiatives are independent of the normal conduct of Company business. Programs, projects and activities (collectively “CSR Programs”) carried out in this regard are the subject matter of this Policy.
CMR’s CSR Policy intends to:
Strive for economic development that positively impacts the society at large with minimal resource footprint.
Assume and embrace the role of a responsible Corporate Citizen and encourage a positive impact through its activities on hunger, poverty, education, upliftment of society, promoting education, ensuring environment sustainability, etc.
3. FOCUS AREA
In accordance with the requirements under the Companies Act, 2013, Company’s CSR activities, amongst others, will focus on:
- HUNGER, POVERTY, MALNUTRITION AND HEALTH: Eradicating extreme hunger, poverty and malnutrition, promoting preventive healthcare and sanitation and making available safe drinking water.
EDUCATION: Promoting education, including special education and employment-enhancing vocational skills especially among children, women, elderly and the differently abled, and livelihood enhancement projects; monetary contributions to academic institutions for establishing endowment funds, chairs, laboratories, etc., with the objective of assisting students in their studies.
RURAL DEVELOPMENT PROJECTS: Strengthening rural areas by improving accessibility, housing, drinking water, sanitation, power and livelihoods, thereby creating sustainable villages.
ENVIRONMENTAL SUSTAINABILITY: Ensuring environmental sustainability, ecological balance, protection of flora and fauna, animal welfare, agro-forestry, conservation of natural resources and maintaining the quality of soil, air and water.
4. COMPOSITION OF CSR COMMITTEE
The CSR Committee consists of the following Directors:
Mr. Gyan Mohan – Chairman
Ms. Rashmi Verma
Mr. Akshay Agarwal
5. RESPONSIBILITIES OF CSR COMMITTEE
The responsibilities of the CSR Committee include:
- Formulating and recommending to the Board of Directors the CSR Policy and indicating activities to be undertaken,
- Recommending the amount of expenditure for the CSR activities, and
- Monitoring CSR activities from time to time.
Company will implement its CSR activities either through its own employees or through a regd. trust, or a regd. society or a company [that may be formed / establish by the Company for the purpose herein], or alongwith any other company as may be decided by the CSR committee from time to time.
Every year, the CSR Committee will place for the Board’s approval, a CSR Plan delineating the CSR Programs to be carried out during the financial year and the specified budgets thereof. The Board will consider and approve the CSR Plan with any modification that may be deemed necessary.
The Board of Directors of the Company will assign the task of implementation of the CSR Plan within specified budgets and timeframes to such persons or bodies as it may deem fit.
The persons/bodies to which the implementation is assigned will carry out such CSR Programs as determined by the Board within the specified budgets and timeframes and report back to the Board on the progress thereon at such frequency as the Board may direct.
The Board shall review the implementation of the CSR Programs once a quarter and issue necessary directions from time to time to ensure orderly and efficient execution of the CSR Programs in accordance with this Policy.
At the end of every financial year, the CSR Committee will submit its report to the Board.
8. CSR Expenditure
CSR expenditure will include all expenditure, direct and indirect, incurred by the Company on CSR Programs undertaken in accordance with the approved CSR Plan. Moreover, any surplus arising from any CSR Programs shall be used for CSR. Accordingly, any income arising from CSR Programs will be netted off from the CSR expenditure and such net amount will be reported as CSR expenditure.
9. Effective Date