Corporate Social responsibility (CSR) is continuing commitment by businesses to integrate social and environmental concerns in their business operations. CSR in India has traditionally been seen as a philanthropic activity. It was believed that every company has a moral responsibility to play an active role in discharging the social obligations, albeit subject to the financial health of the company.
On 29th August 2013, The Companies Act 2013 replaced the Companies Act of 1956. Section 135 of the new act introduced a clause on Corporate Social Responsibility obligations for companies in India. India is first country to legislate the need to undertake CSR activities and mandatorily report CSR initiatives under the new Companies Act 2013.
PRERANA works closely with the business corporations and helps them identify and undertake a broad range of locally relevant activities as part of their Corporate Social Responsibility to create positive socio-economic impacts on the lives of communities in the vicinity of their operations.
PRERANA has partnered with Sprng Energy, a renewable energy platform set up in India by Actis, UK – a leading global investor in sustainable infrastructure, and implemented a wide range of locally relevant activities for the socio-economic development of local communities for its holding companies across Madhya Pradesh, Rajasthan, Gujarat, Telangana, Andhra Pradesh and Tamilnadu states.
PRERANA has partnered with Athena Renewable Energy, a renewable energy platform to manage renewable energy capacities in the country on long term basis. With the belief that communities in the vicinity of their operations are the most significant stakeholders in their business, Athena is working with PRERANA to create positive socio-economic impacts on the lives of these stakeholders and uplift their quality of life by undertaking a broad range of locally relevant activities around their plants in Madhya Pradesh and Andhra Pradesh states.
