How low CSR in the clean energy sector is hurting India
India, the second most populous economy in the world, has clearly the most number of households without electricity. It is estimated that, till date, approximately 300 million people in India lack access to energy.
A new report, titled Energising Development, launched by Samhita along with International Finance Corportaion (IFC) and Shakti Foundation found out that more than 50 percent of the top 100 companies have Corporate Social Responsibility (CSR) programmes in education, sanitation or skills and livelihoods but not clean energy.
Speaking of such biased preferences for CSR investments, Priya Naik, the founder and CEO of Samhita, reiterates the crucial role played by energy interventions in aiding rural development. “Energy is a catalyst for all other kinds of development. All livelihood opportunities seize when there is lack of access to clean and efficient energy,” she says.
Photo courtesy of Karsten Würth.