Latest news with #TOISocialImpactSummit
Time of India
15-07-2025
- Business
- Time of India
Uday Kotak calls for global adoption of India's CSR model
Kotak Mahindra Bank managing director and CEO Uday Kotak (File photo) Kotak Mahindra Bank founder and non-executive director Uday Kotak has pitched India's 2 percent mandatory corporate social responsibility (CSR) spend as a global benchmark, calling on international companies to follow suit. 'Why can't we have the world's corporations give half a percent of their profits to sustainable development goals?' he asked in his keynote address at the TOI Social Impact Summit. 'Why can't India export its CSR principles to the entire world?' Kotak, who chaired a G20 panel on financing social development, said India's model offered an alternative to higher taxes. 'We created a structure where business allocates resources directly to society rather than routing them through govt,' he said. 'Most parts of the world fiddle with tax rates.' Indian companies currently contribute over Rs 30,000 crore annually through CSR. Kotak hopes this will rise to Rs 1 lakh crore. He urged companies to go beyond compliance. 'Ask yourself: Is the 2 percent being spent for the purpose it's intended, or just to meet a requirement?' Amid growing concerns over excessive speculation in Indian markets, Kotak questioned whether capital markets are serving their core purpose. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Đây có thể là thời điểm tốt nhất để giao dịch vàng trong 5 năm qua IC Markets Tìm hiểu thêm Undo 'We must ask: Are all the actions we're seeing in the marketplace today consistent with fair allocation of resources?' he said. Quoting Keynes, he warned, 'Speculation is like a bubble on a steady stream of enterprise. The problem arises when enterprise becomes a bubble. ' His remarks come as SEBI cracks down on misuse of India's booming options market. Kotak said strong governance across six pillars—management, boards, shareholders, auditors, rating agencies, and regulators—is key to building a resilient, self-reliant India.
Time of India
09-07-2025
- Business
- Time of India
TOI's Social Impact Summit to be held in Mumbai on July 11-12, focus on CSR and ESG
TOI social impact Since the government introduced the 2 per cent CSR mandate in 2014, the scope of corporate social responsibility has expanded significantly. What began as a compliance requirement has evolved into a space that companies now actively embrace, with many investing in and supporting a wide range of impactful initiatives. Running parallel to CSR is the growing focus on ESG — environment, social, and governance — a framework that, while less familiar to the public, is gaining momentum among companies and their stakeholders. ESG-driven efforts typically address areas such as environmental sustainability, renewable energy, employee welfare, inclusion of women and persons with disabilities, health insurance, and increasing female representation on corporate boards. The Times of India is set to host the 'TOI Social Impact Summit – Leading Change through CSR & ESG' in Mumbai on July 11 and 12, bringing together a cross-sectoral group of changemakers to shape the national agenda around corporate social responsibility (CSR) and environmental, social, and governance (ESG) priorities. Designed as a two-day flagship event, the summit aims to become the premier platform for dialogue, collaboration, and recognition in India's fast-evolving impact landscape. The agenda includes business-to-business (B2B) and business-to-government (B2G) discussions, with participation from policymakers, business leaders, academics, CSR and ESG practitioners, sustainability experts, and NGOs. The summit is structured around two themes: ESG on Day 1 and CSR on Day 2, featuring keynotes, panel discussions, fireside chats, and honours in CSR, ESG, and philanthropy. It will also focus on critical themes such as technology and AI for sustainability, climate action, gender equality, education, healthcare, and empowerment of underrepresented groups. The event will also witness the launch of the TOI CSR ESG Council, comprising 6–8 leaders who will contribute to policy direction and thought leadership in the sector. Following the event, presented by Malabar Gold & Diamonds, a comprehensive whitepaper developed in collaboration with Knowledge Partner will capture key insights and recommendations. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Time of India
17-06-2025
- Business
- Time of India
TOI Social Impact Summit to honour breakout work in CSR-ESG
TOI Social Impact Summit to honour breakout work in CSR-ESG The scope and reach of CSR (corporate social responsibility) has grown exponentially since its origin in 2014 as a government mandate that had corporates set aside 2% of their profits towards socially responsible work. Today, businesses own this space and are invested in supporting and funding good, impactful work across the spectrum. An allied social-investment basket is ESG, or environment, social, and governance. This area — less known but equally impactful in reach and importance — has gained traction parallelly with both corporates and their stakeholders driving work in this space. For instance, under ESG, key areas which are under focus are: environment, renewable energy, sustainability, women employees, workers' welfare, opportunities for differently abled, and health insurance, and higher representation for women on the board of directors. The demand for ESG today comes from both within and outside. There's a keen understanding that corporates should be invested in the well-being of the society they live in; that people live in societies and not just in an economy. This means consciousness that sustainability, environment, governance, diversity work towards the benefit of all stakeholders is well documented. The Times of India, over the years, has launched hugely impactful campaigns and organised summits with powerful messaging and impact on the social sector. To recognise and reward work in the CSR & ESG space, The Times of India is holding a two-day Social Impact Summit on July 11 and 12, 2025, in Mumbai. The event, presented by Malabar Gold & Diamonds, has Ernst & Young as the knowledge partner. These are the sectors that most touch Indians and have the highest relevance at the ground level. The high-powered event will see panel discussions, fireside chats and a number of participative events for the attendees. The summit will see speakers from a broad section of the sector talk of their experiences and on mechanisms to further grow and strengthen these areas. It will showcase some interesting case studies — those that can be replicated and scaled. Beneficiaries' stories will also be brought to light. The summit will honour organisations and people who have done stellar work in CSR & ESG. Early vetting will be done by our knowledge partner, while an editorial board comprising of senior TOI journalists and select domain experts will weigh in on the winners. While recognizing work in these fields, we are also looking at new sectors like AI-driven initiatives and adding sectors like 'Empowerment' and 'Gender'. CSR funds mostly go to geographic areas where the companies are located. Hence, wealthier states end up being the biggest beneficiaries: Maharashtra leads CSR spending with Rs 6,000 crore (28%), followed by Gujarat (21%), Delhi/NCR (16%), Tamil Nadu (10%), and Uttar Pradesh (8%). Coming to the ESG end, research suggests that 91% of companies face strong investor pressure to accelerate sustainable business practices, while 78% face pressure from activists. Both very large companies and MSEs have shown eagerness in adopting good ESG practices as it's not just good narrative but is actually beneficial for companies to be good corporate citizens. Leaving the world with a better environment than the one we inherited is leaving a better world for the future generations. Having more women, differently abled and diverse workforce will help corporates be more productive, while sustainable business practices not only make for a great story but will also help the bottom line.
