ResearchnConsulting’s Post

ℹ️ Know more about the CSR Form-2! 📢 Have you filed your Form CSR-2 yet? It's essential for reporting your Corporate Social Responsibility (CSR) activities from the financial year 2020-2021 onwards. 🌱💼 This form is not just a compliance obligation; it's a commitment to allocate a specified percentage of profits towards meaningful CSR initiatives as mandated by law. 💡 Filing Form CSR-2 is crucial for good corporate governance, ensuring transparency and accountability in your CSR expenditure. 📊🌍 Let's make a positive impact together! #CSRReporting #CorporateSocialResponsibility #ComplianceMatters

CSR Comply  Every company which needs to comply with the CSR provisions have to spend 2% of the average net profits made during the preceding three years as per the CSR policy. The computation of net profit for CSR is as per Section 198 of the Companies Act, 2013.

🌍 Mandatory CSR Spending for Companies: Key Requirements & Penalties 🌍 Did you know that companies meeting certain financial thresholds are obligated to invest in Corporate Social Responsibility (CSR) projects? Here’s a quick summary: 🧾 Who Needs to Comply? - Companies with a net worth of ₹500 crore or more, or   - Turnover of ₹1,000 crore or more, or   - Net profit of ₹5 crore or more during the preceding financial year  These companies must spend at least 2% of their average net profits from the last three financial years on CSR activities. If a company is newly incorporated, the calculation will be based on its available financials. 📌 What Happens if CSR Spending is Missed? Failure to spend as required comes with consequences: - Company Penalty: Twice the amount required to be transferred or ₹1 crore, whichever is lower   - Officer Penalty: One-tenth of the required amount or ₹2,00,000, whichever is lower  By prioritizing CSR, companies not only fulfill a legal mandate but also contribute to societal development. 🌱 #CorporateSocialResponsibility #CSR #Compliance #BoardofDirectors #BusinessEthics #SustainableBusiness

Interesting trends observed basis the data collated by primeinfobase.com on CSR spending for year FY 2022-23. The money that companies spent on corporate social responsibility (CSR) programs hit a record high in the financial year 2022-23 (FY23) but it is getting difficult to track what they are spending on... Source - Business Standard (https://lnkd.in/d-xCwfhV) #CSR #Spending #Analysis #LakshyaaInsights #Compliance #Disclosures

TRC Companies, Inc.’s latest article discusses the U.K Financial Conduct Authority's (FCA) new anti-greenwashing rule, designed to enhance transparency & consumer trust in #sustainability claims. https://okt.to/dQz1Lj The rule expects in-scope firms to make sustainability assertions that are factually correct, clear, comparable and complete. Read the full article to understand how firms can comply. #AntiGreenwashing #AntiGreenwashingRule

CSR isn’t just about compliance; it’s about going beyond the bare minimum to enhance society and the environment genuinely. When your company expands globally, the challenge is ensuring that CSR initiatives are not just in place but align seamlessly with governance policies, meet regulatory requirements, and support strategic goals. Here’s a practical guide on how to do just that, along with some tools and software that can help you along the way. #CSR #CorporateGovernance #Sustainability #GRC #GlobalBusiness #EthicalBusiness #Transparency #StakeholderEngagement #CorporateResponsibility

🌍 Bill C-59: A New Era for Executive Compensation and ESG Reporting 💼 As companies increasingly adopt environment and climate-related metrics in their incentive plans, Bill C-59 brings important new challenges. The recently passed law requires companies to back up environmental claims with "adequate and proper substantiation" or face potential legal action. 🔎 What does this mean for your organization? Our consultants, Emily Magisano and Julia Hunt , dive into the compensation implications of Bill C-59 and what boards and management teams need to know about ensuring compliance with these new requirements. 👉 Click here to read more about how these changes may affect your executive compensation strategies and ESG metrics: https://lnkd.in/gq6Tanzx #ExecutiveCompensation #BillC59 #ESG #CorporateGovernance #IncentivePlans #Sustainability #Governance #HugessenConsulting

TRC’s latest article discusses the U.K Financial Conduct Authority's (FCA) new anti-greenwashing rule, designed to enhance transparency & consumer trust in #sustainability claims. https://okt.to/XBbRZo The rule expects in-scope firms to make sustainability assertions that are factually correct, clear, comparable and complete. Read the full article to understand how firms can comply. #AntiGreenwashing #AntiGreenwashingRule

TRC’s latest article discusses the U.K Financial Conduct Authority's (FCA) new anti-greenwashing rule, designed to enhance transparency & consumer trust in #sustainability claims. https://okt.to/jUWgOM The rule expects in-scope firms to make sustainability assertions that are factually correct, clear, comparable and complete. Read the full article to understand how firms can comply. #AntiGreenwashing #AntiGreenwashingRule