Govt pitches for sector-specific CSR framework for coal companies

The government on Tuesday stressed on the need for a corporate social responsibility framework for companies operating in the coal sector to serve as a guide to promote responsible and sustainable practices.

The move also aims at reducing environmental impact and enhancing stakeholder engagement among private as well as public sector coal companies.

"Given the growing presence of private players in the sector, a need has been felt for a sector-specific CSR framework for coal companies," the coal ministry said in a statement.

The corporate social responsibility (CSR) policies of coal PSUs have been formulated within the policy directives provided under the Companies Act, 2013, the Companies (CSR Policy) Rules, 2014 and guidelines of Department of Public Enterprises (DPE).

 

Over the years, coal PSUs have taken remarkable initiatives in the areas of health, education, environment, sanitation, sports, etc.

The coal ministry organised a stakeholders' consultation to deliberate upon CSR framework for Indian coal companies here.

Senior officers from the coal ministry and representatives of Coal India Ltd, NLC India Ltd, Singareni Collieries Company Ltd and private sector coal companies participated in the consultation.

Addressing the participants, Coal Additional Secretary Rupinder Brar urged the coal companies to converge their CSR, welfare, and sustainability efforts for the benefit of the community and also for business by quantifying these efforts to earn green credits.

Emphasising the importance of formulating a dedicated CSR framework for the coal sector, she highlighted the need to prioritise local needs while planning CSR initiatives.

She also underlined the importance of engaging credible agencies for need and impact assessment to provide in-depth analysis and functional insights for taking up and carrying out impactful CSR activities.

She also encouraged the coal companies to collaborate and share knowledge and resources.