Report: Education, employable skills top CSR spends among Indian IT, financial services companies

Friday, February 24, 2017

A majority of information technology (IT) and financial service sector companies in India are investing in education and employable skills, when it comes to the mandatory spend on corporate social responsibility (CSR), says a report by Nasscom Foundation.

‘Key to social issues’

“About half the companies (70) interviewed have spent more than 70 per cent of their CSR in education and employable skills initiatives,” said the report titled ‘Catalysing Change Through CSR’ – released here on Wednesday at the CSR Leadership Conference.

“Education and employable skills are the key to most of India’s social problems. An industry which has grown solely by investing into knowledge and key skills, realises the difference a skilled knowledge society can make and therefore, a major chunk of the CSR funds has been dedicated to education and employable skills,” Ganesh Natarajan, Chairman, NASSCOM Foundation, said in a statement.

As per the report, 53 per cent of the surveyed companies based in Karnataka, Tamil Nadu, Maharashtra, Telangana as well as the National Capital Region, said they were now also investing considerably in non-headquarter geographies.

Source: Hindu Business Line (link opens in a new window)

Categories
Impact Assessment, Investing
Tags
corporate social responsibility, fintech, impact investing