Businessworld FICCI - SEDF Corporate Social Responsibility Award
Why the award?
There are some companies in India, which quietly go about making it their business to discharge both their corporate and social responsibility.. By taking time off from their core business activities, to take on projects with a social cause, invest into community initiatives and projects that reach out and touches the lives of others. Here's an award that takes these efforts into cognizance.
These efforts include the joy of teaching someone the alphabet, which so many of us take for granted, improving the living standards of people, providing the less fortunate with drinking water, giving children, what they need the most, a happy childhood, watching a seedling blossom into a tree. Selfless gestures such as these undoubtedly go a long way in making the world a better place.
It is this social conscience that the Businessworld FICCI-SEDF award applauds. The desire to empower and enable the less fortunate,. to put people before profits. The award goes a long way in promoting the spirit of corporate responsibility and helps to create social consciousness among the business houses of India to ultimately go beyond profit.
To recognize such efforts FICCI-Socio Economic Development Foundation and Businessworld joined hands to institute the Corporate Social Responsibility Award, which is presented to the most socially responsive company every year.
Above all, the recognition is to help create widespread social consciousness amongst a host of other business houses in India who have the necessary resources, and will be encouraged to utilize them for a healthier, fairer social environment. And the ultimate winners will be the people of India.
Who participates?
The award is open to all companies registered in India. Branch offices or liaison offices of foreign companies and not to NGOs and Government departments.
How is the winner selected?
The Award is rated very highly in the corporate sector and has been getting tremendous response for nominations. FICCI-SEDF Award is the first award to be constituted for Corporate Social Responsibility in India and has a unique three-tier selection process. The entries received are thoroughly scrutinized by an audit firm. It is then followed by an on-site verification by a recognized NGO. The final selection for the Award is made by a special jury drawn from relevant corporate and social spheres.
The criteria for assessment broadly cover the parameters of institutionalization of CSR, community as stakeholder, community development, HR practices and Environmental practices. The first stage assessment for the 2005 award was done by Grant Thornton through screening of application forms, reports and other supplement information. While the field assessment of companies' projects was carried out by BCF through focus group discussions and interviews with the community, Interviews and discussions with respective company personnel, district officials and CSOs.
Thereafter presentations were made to the eminent jury who took the final decision. Along with the main award, work done by the companies who made it to the second shortlist was recognized with the Corporate Citizen citation.
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