August 5, 2023
By Vinitha Murukesan
Programme Coodinator (Water & Sanitation)
Coimbatore-based group CSR Spark held a conclave in the city, inviting Keystone’s Water & Sanitation programme to provide insights on CSR funding.
The Conclave, held on August 5, brought together stakeholders from across south India, including corporates, CSR agencies, academics, social entrepreneurs and nonprofit organisations. The event sought to raise awareness of recent changes in the nuances of CSR legislation following the rollout of the Companies (CSR Policy) Amendment Rules, 2021. With for-profit companies being stipulated to increase compulsory spending, there has been a sharp increase in the CSR funding. CSR Spark has observed a shift in the way corporates get involved, choosing to implement actionable projects rather than stopping at providing financial support.
Our Water and Sanitation team presented on nearly 30 years of Keystone’s work, and spoke of their experiences working with CSR donors. They also set up a stall that displayed our work within this programme area. The team also met with potential partners that showed interest in funding and collaborating with Keystone in sanitation and waste management efforts.
The event discussed various avenues for leveraging CSR sources of funding; for example, one session provided insights into best practices in accounting for projects, through selected case studies. Another explored available sources to obtain CSR data and information on current, location-specific CSR activities. Another explored ways for all stakeholders to overcome trust deficit challenges and build strong implementation processes.
The Conclave was organised by highly experienced CSR professionals, and highlighted how nonprofits could align with the CSR compliances, and elaborated on processes corporates could follow to efficiently implement projects while meeting their environmental, social and governance (ESG) goals.
