The government has sought nominations for the national Corporate Social Responsibility (CSR) awards that will recognise companies that have made a positive impact through such activities.
Under the Companies Act, 2013, certain class of profitable entities are required to spend at least two per cent of their three-year average annual net profit towards CSR works.
The national CSR awards seeks to recognise the companies that have positively impacted both business and society by taking a strategic approach to CSR through collaborative programme, according to a communication posted on the website of the corporate affairs ministry.
Besides, the awards looks to identify innovative approaches and employing application and technologies that would help in building a robust CSR programme to further the cause of inclusive and sustainable development, it added.
A total of 20 awards would be given in three categories — based on CSR spend, projects in aspirational districts or difficult terrains, and projects in national priority areas.
Three awards, one each in the three categories, would be reserved for Micro, Small and Medium Enterprises (MSMEs).
The deadline for submitting nominations is February 15, 2020.
Nominations can be made by ministries and central government departments, state governments, union territories, professional institutions like ICSI, ICAI and ICMAI, as also national level trade and industry chambers, as per the communication.
The first set of national CSR awards were given away on October 29.
