CSR & SUTAINABILITY

Name - Riza Arora

Roll No. - 20241774138
Tutorial - Group C
Subject – (Ethics,
corporate governance & sustainability)
CSR & Sustainability by Ernst & young
CSR & SUSTAINABILITY
-INTRODUCTION-
 Recently, businesses worldwide have started placing a greater emphasis on sustainability.
Companies have all kinds of motivations for these investments. Thirty-three percent of
companies are prioritizing sustainability to reduce costs and improve operational efficiency.
Others invest in corporate citizenship best practices for a short-lived media boost.
 As businesses continue taking steps to be more sustainable, the term “corporate
sustainability” is thrown around a lot. Some even confuse corporate sustainability with other
terms like “corporate social responsibility” (CSR).
 Read on to learn how to recognize corporate sustainability from CSR. You’ll also find some
practical advice on how you can implement both initiatives in your company.
 The term “corporate sustainability” describes a new corporate management model. It can
also fall under the broader term “environmental social governance” (ESG).
 Corporate sustainability emphasizes growth and profitability through intentional business
practices in three areas of society. The goal is to provide long-term value for stakeholders
without compromising people, the planet, or the economy.
What Is Corporate Social Responsibility?

 Corporate social responsibility (CSR) is a broader concept than corporate

sustainability. In short, “[CSR] helps a company be socially accountable—to
itself, its stakeholders, and the public.”
 A company that engages in CSR operates in a way that enhances society, both
locally and globally. CSR is a long-term strategy that is never temporary and
always evolving.
 Ernst and young, for example, is known for upholding exceptional standards
of assurance. The company sells ethically sourced services and happily
promotes its social service plans.
 CSR has multiple facets, and not all organizations can invest in all of them.
The goal is not to invest in every initiative possible. Start small by making
changes in your organization and community.
CASE STUDY-
ERNST & YOUNG
 CSR COMMITTEE
 EY constitutes a CSR committee with the board
consisting of three or more directors, out of which at least one
director shall be an independent director. The responsibilities
of CSR committees are immense. As part of their duties, they
are tasked with providing recommendations to the board on
the activities to be undertaken, expenditure to be incurred,
formulation and implementation of the plan, reviewing and
monitoring activities and creating an annual or bi-annual report
on the status of activities undertaken. They also need to institute
a transparent monitoring mechanism for the policy and projects,
and factor in potential risks.
 AMOUNT SPENT ON CSR

 The Companies Act has mandated 2% CSR contribution by

corporate India to eligible NGOs or through its own network.
Based on recent statistics, mandatary CSR spend by the corporate
sector of EY continues to fulfil this % of annual estimates. With the current debate
going on whether the government should impose civil or criminal liability
on the defaulters, the survey indicates that it is imperative for the
stakeholders to review their CSR obligations. Budget 2020 has
proposed further re-registration, compliance requirements on
registered charitable trusts. These developments now indicate
that from a corporate governance perspective, it is important to
review the current CSR policy and ensure CSR spends through its
implementing partners in a compliant manner.
SUSTAINABILITY ACTIVITY BY E&Y
 Building a more sustainable world
 There are seven key components to our plan to become carbon negative, which also sees us set a science-
based target to reduce our total emissions by 40% and achieve net zero in FY25.
  
They’ll do this by:-
 Reducing business travel emissions by 35% by FY25 against a FY19 baseline and achieve net zero in FY25*
 Reducing office electricity usage and procuring 100% renewable energy for our remaining needs
 Structuring electricity supply contracts, through virtual power purchase agreements, to introduce more
electricity than EY consumes into national grids
 Providing EY teams with tools that enable them to calculate, then work to reduce the carbon emitted when
carrying out client work
 Using nature-based solutions and carbon-reduction technologies to remove, or offset, more carbon than we
emit from the atmosphere each year
 Investing in services and solutions that help EY clients profitably decarbonize their businesses and provide
solutions to other sustainability challenges and opportunities
 Requiring 75% of our suppliers, by spend, to set science-based carbon reduction targets no later than FY25
CSR ACTIVITY BY E&Y-
SHAALINI FELLOWSHIP PROGRAM
SHAALINI FELLOWSHIP PROGRAM

 EY Ripples initiatives that have been running in the past few months on the GDS Cares
focus area - Supporting Next Generation:
 Women empowerment (in collaboration with NGO, Udayan Cares - 120 EY mentors)
 Visually challenged students (in partnership with NGO, Bhumi – 315 recordings)
 Youth mentoring (in association with NGO, LP4Y- 20 EY mentors)
 GDS Cares has launched  100 Mentors - Global Program !
 ‘100 Mentors’ is a virtual mentoring platform that lets you share your knowledge and
experience with over 22,000 students around the world, empowering them to create their
own future. 
 Mentors upload a minimum of 3 videos a month by answering students questions via the
100mentors app, specifically on the subjects of the future of work and business. In this new
age of social media this is a great platform to inspire a whole classroom, while you develop
as a transformative leader, bringing out the best in yourself and others
Initiative:
 The Udayan Care mentoring program began as an in-person coaching and
mentoring initiative. We seamlessly converted it to a virtual one in the wake
of the pandemic to continue with our commitment. Currently, 120 girls from
Delhi chapter are being mentored fortnightly. Due to its huge success, the
NGO requested for further expansion to cities beyond Delhi NCR.
  
 In order to make this program a success, we require 300 volunteers across
EY GDS Gurgaon and Noida. They will provide virtual mentoring aimed at
fostering women empowerment and employability to girls belonging to
weaker socio-economic background.
 DOES EY PREPARES A SEPARATE
SUSTAINABILITY REPORT?
YES
REFERENCES

 Ernst & Young - Corporate Social Responsibility (CSR), Sustainability and Caus
e News & Media (3blmedia.com)
 EY India - Home | Building a better working world
 CSR & sustainability info for Ernst & Young | CSR Ratings (csrhub.com)
THANK-YOU