Reshaping CSR: Impact Oriented CSR Guidance for a Multinational Company

In an effort to refine its Corporate Social Responsibility (CSR) strategy, our client collaborated with us on several aspects of CSR. This partnership covered strategy development, risk analysis, advisory services, compliance, and post-grant monitoring.

Transcript

1. RESHAPING CSR: IMPACT ORIENTED CSR GUIDANCE FOR A MULTINATIONAL COMPANY +91 8506860903 contact@thinkcapadvisors.com www.thinkcapadvisors.com CASE STUDY
2. COMPANY BACKGROUND Our client is a multinational company offering a diverse range of services across various sectors, including engineering, design, environmental consulting, planning, and management. The company specializes in projects related to infrastructure, transportation, buildings, water resources, energy, and environmental sustainability.
3. CSR DOCUMENTATION & ACTION PLAN In an effort to refine its Corporate Social Responsibility (CSR) strategy, our client collaborated with us on several aspects of CSR consulting. This partnership covered strategy development, , risk analysis, advisory services, compliance, and post-grant monitoring. The CSR documentation phase involved drafting a CSR policy that outlined key objectives, incorporating necessary elements such as focus areas, CSR governing structure, and reporting mechanisms Additionally, a detailed action plan was formulated, specifying approved CSR projects in accordance with Schedule VII. This plan covered fund utilization modalities, implementation schedule, monitoring and reporting mechanism, as well as details on impact assessment. Our involvement extended to reviewing of compliance related documentation and providing guidance on necessary filings. WORK AREA
4. POST GRANT MONITORING Post-grant monitoring included a thorough review of all pertinent documents, including expenses and activity reports related to providing benefits to target group. Our team conducted meetings with target groups, gathering firsthand information on the work accomplished by NGO partners in line with board approval. FCRA ADVISORY As part of our CSR consulting services, we provided advice to the client regarding applicability of Foreign Contribution (Regulation) Act,2010 (FCRA) on CSR contribution. A comprehensive risk analysis related to these contributions was conducted.
5. RESULTING IMPACT During our due diligence, we identified instances of misreporting by certain NGOs to the client and recommended necessary actions. Consequently, the entire CSR strategy was streamlined and successfully implemented, ensuring proper compliance with legal requirements & execution of the CSR programmes. ABOUT THINKCAP ADVISORS ThinkCap Advisors (www.thinkcapadvisors.com) is a consulting firm that uses industry expertise and domain knowledge to help organizations and their teams solve problems and achieve business impacting results. Our team members, comprising of professionals with extensive experience in Big 4 firms and large multinationals, are subject matter experts and their advice is backed by in-depth research, years of experience and deep understanding of the prevailing market scenarios.
6. As a Corporate Social Responsibility (CSR) consulting services firm, ThinkCap Advisors provides end-to-end CSR advisory services. Our sector experts, comprising of chartered accountants and professionals from social sector background, assist companies in meeting their CSR obligation by handholding through all stages of CSR life cycle. WORK AREAS: -Tax & Regulatory -Social Sector -Consulting -Technology Solutions
7. THANK YOU +91 8506860903 contact@thinkcapadvisors.com www.thinkcapadvisors.com