Assignment-3-CSR REPORT
Assignment-3-CSR REPORT
Assignment-3-CSR REPORT
- SAMSUNG
Submitted by
Group
Masum (20BCL068)
Vaibhav (20BCL078)
Dhruv (20BCL077)
Haard (20BCL084)
Harsh (20BCL085)
Submitted to
Prof. Karishma Hingnekar
Contents
1 Introduction
2 CSR Activity planned and carried out by industry
3 CSR activity planning prepared by you
4 Summary
Introduction
Mission Statement
Since its operations in India, Samsung has placed great importance to being a responsible
corporate citizen in the communities it operates. Under the Company's CSR mission of
"Enabling People", Samsung aims to help people fulfil their true potential, through its various
corporate CSR programs. Samsung has made conscious efforts to ensure that interventions
are need based, community oriented, sustainable and impact headline human development
indicators favourably while simultaneously being aligned with its core competencies as a
global leading technology company.
• Promoting health care including preventive health care, sanitation, making safe drinking
water available, aids and appliances for differently-abled persons.
• Promoting education, including special education and employment enhancing vocation
skills especially among children, women, elderly and the differently abled and livelihood
enhancement projects.
• Promotion of gender equality and geriatrics, and measures for reducing social inequity.
• Ensuring environmental sustainability, ecological balance, protection of flora and fauna,
animal, welfare, agroforestry, conservation of natural resources and maintaining quality of
soil, air and water.
• Protection of national heritage, art and culture including restoration of buildings and sites of
historical importance and works of art; setting up public libraries; promotion and
development of traditional art and handicrafts.
• Measures for the benefits of armed force veterans, war widows and their families.
• Training to promote rural sports, nationally recognized sports, Paralympic sports and
Olympic sports.
• Contribution to the Prime Minister’s national relief fund or any other fund set up by the
central govt. for socio economic development and relief and welfare of the schedule caste,
tribes, other backward classes, minorities and women.
• Contributions or funds provided to technology incubators located within academic
institutions which are approved by the Central Government.
• Rural development & infrastructure projects.
• Urban slum improvement & development.
• Disaster relief(s) and rehabilitation support.
Subject to the Legal Provisions, Board shall have the discretion to take a call on whether any
activity falls within the entries above and in Schedule VII and its decision shall be final.
Company shall give preference to the local areas and areas around it where it operates, for
spending the amount earmarked for CSR activities.
Implementation
• Focus of CSR activities of Samsung will be across India but needs of catchment areas near
Samsung offices / manufacturing locations will be given preference. Beneficiary groups will
include women, children, youth, elderly, and/or differently abled persons. Samsung will
choose to undertake need assessments as and when it deems necessary.
• Samsung expects to spend through a combination of financial grants, technology, in-kind
program contributions, and other activities which may include employee volunteering and
expertise sharing.
• Technology and in-kind program contribution may include donations of products (including
hardware and software), with considerations for COGS based pricing and materiality
thresholds to be borne in mind. Samsung may enter into partnerships with the government,
business partners and communities to scale, sustain and create multiplier effect of its social
and environment projects over the long term.
• The time period/ duration over which a particular project or program will be spread, will
depend on its nature, extent of coverage and the intended impact of the program.
• The mode of implementation of CSR programs will include a combination of direct
implementation and partnership with government institutions, training institutes, not for profit
organizations, etc. Samsung will select its activity partners after appropriate due diligence.
• Samsung may use the services of internal teams, expert agencies, consultancy firms etc.,
wherever required for carrying out base line surveys, guidance on project design and
implementation, due diligence of implementation partners, impact assessment surveys etc.
• Samsung will encourage its employees for volunteering in community services as part of
broader corporate citizenship mandate, but excluding any time monetisation of such an
initiative
CSR Budget
• Samsung has undertaken to spend at least two (02) per cent of the average net profit made
during the three (03) immediately preceding financial years on specific CSR projects and
programs. If the company fails to spend the amount, reasons for not spending to be
specified in the Annual Report.
• The computation of average net profits will be carried out in accordance with the provisions
of Section 198 of the Companies Act, 2013.
• The unutilized CSR budget from the two (02) per cent of the average net profit, if any, may
be put back into CSR activities of the succeeding year as decided by the Board and CSR
committee in accordance with the Companies Act, 2013, as amended.
• The Board of Directors shall make disclosures in the Annual Report as per clause (o) of
sub-section (3) of section 134 including particulars specified in annexures to the CSR Rules.
• Surplus arising out of CSR project, program or activities shall not form part of the business
profits of Company instead the same will be further spent for CSR purposes only
The CSR team comprising of members from the Corporate Office as well as its subsidiaries
will facilitate effective implementation of Samsung's CSR programs across sectors and
regions.
A CSR Team comprising of employees of the Company for fulfilling its CSR obligations, will
be set up to ensure effective implementation and monitoring of the projects. The CSR Team
will submit periodic reports to the CSR Committee on the progress of the various projects
approved by the CSR Committee and entrusted to it for implementation and monitoring.
CSR activity planning prepared by you
Summary