Hindustan Unilever spends on SDGs projects

NEW DELHI (India CSR): Hindustan Unilever spends – HUL, an FMCG company with 130 years of history, has invested R. 157.58 crores (up from R. 164 crores last year) in Corporate Social Responsibility (CSR), in accordance with the Companies Act, 2013, on sustainable development and programmes for community empowerment, benefiting thousands of people in the process. For the fiscal year, there was an excess expenditure of Rs. 1.30 crore. 
 
The above comprises a payment of Rs. 11 crores (Rs. 18 crores in 2020–21) to a subsidiary company, Hindustan Unilever Foundation, which is registered under Section 8 of the Companies Act, 2013.

Hindustan Unilever spends

Total CSR Unspent

According to the requirements of the Companies Act of 2013, the company transferred a total of Rs. 28.15 Crores to the Unspent CSR Account on April 14, 2022. 
 
According to Section 135(5), two percent of the Company’s average net profit was equal to Rs. 184.43 Crores. Accordingly, the required CSR commitment for the fiscal year was Rs. 184.43.2 crore, or two percent of the total. 
 
The foundation started Project Prabhat, a sustainable community development programme, to address the issues and concerns of the surrounding communities in the areas of social, environmental, and economic development.

Unilever Foundation of India

The Hindustan Unilever Foundation’s goals include working on social, economic, and environmental issues like water harvesting, health and hygiene awareness, women’s empowerment, and improving the capacity of the underprivileged segments of society to take advantage of new opportunities and improve their standard of living.

Committee for Corporate Social Responsibility

The O. P. Bhatt, Independent Director, Chairperson of the Corporate Social Responsibility (CSR) Committee, together with Dr. Sanjiv Misra, Kalpana Morparia, Leo Puri, Sanjiv Mehta, and Ritesh Tiwari, are the other members of the Committee. As on May 1st, 2021, Ritesh Tiwari will replace Srinivas Phatak as a member of the Committee. From May 1st, 2021, Leo Puri will serve as a member of the Committee. 
 
The CSR Committee’s duties include developing and recommending to the Board the CSR Policy and activities that the Company should engage in, recommending the amount of money that should be spent on those activities, and evaluating the Company’s success in those areas. 
 
The nature of CSR activities includes supporting education, including special education, and employment while enhancing vocational skills. It also includes ensuring environmental sustainability, ecological balance, protection of flora and fauna, animal welfare, agroforestry, conservation of natural resources, and maintaining the quality of soil, air, and water.

CSR in India

According to Section 135 of the Companies Act, 2013 (the “Act”), every company in India that had a net worth of at least Rs. 500 crore, a revenue of at least Rs. 1000 crore, or a net profit of at least Rs. 5 crore the previous financial year was required to engage in Corporate Social Responsibility (CSR) activities. 
 
CSR of Indian businesses includes holistic community development, institution-building, and sustainability-related projects in addition to charitable giving. The company’s CSR Policy aims to offer a committed approach to community development in the fields of water conservation, health and hygiene, skill development, education, social advancement, gender equality, and women’s emancipation, as well as projects that ensure environmental sustainability and rural development. 
 
CSR of Indian businesses includes holistic community development, institution-building, and sustainability-related projects in addition to charitable giving. The company’s CSR Policy aims to offer a committed approach to community development in the fields of water conservation, health and hygiene, skill development, education, social advancement, gender equality, and women’s emancipation, as well as projects that ensure environmental sustainability and rural development.