CSR of Big Companies
(Case on ONGC)
By-Prerna SharmaRoll Number 58PG-AONGC, a major Public Ltd. company, is one of the largest companies in India. This case deals with thecompany's Corporate Social Responsibility (CSR) programsandinitiatives. It emphasizes on the increasingsignificance of CSR even in developing countries like India.
In May 2006, ONGC Ltd. (ONGC) received the 'Golden Jubilee Award for Corporate Social Responsibility inEmerging Economies - 2006', at the 7th International Conference on Corporate Governance organized bythe World Council for Corporate Governance. Since the verybeginning, ONGC has regularly contributed tovarious CSR initiatives in the areas of health, education, infrastructure, and culture. In 2003, it decided toallocate 0.75% of its net profit each year for different socio-economic developmental programsundertaken by the company. In 2004, it drafted a Corporate Citizenship Policy - a written guideline whichwas to provide a direction to the company's CSR initiatives.ONGC made an attempt to amalgamate its CSR which aims towards vocational education, hygiene anddevelopment of self-employment mechanism through
. A multi agency initiative comprising of thenon-Government organization, banks and the industry was formed under ONGC PURA Trust.Objective of the project includedProviding urban amenities in rural areas (PURA) which was actually thevision of Dr. A P J Abdul KalamAkhtar, which he outlined in his speech to the Parliament on the eve of Budget Session on 17th February, 2003. PURA visualizes bridging the rural-urban gap and achieving abalance socio-economic development. Project is conceptualized to make possiblethe formation of self-help groups in local and rural population, especially in poor and socially backward people. This was statedas an integral component of ONGCs Corporate Social Responsibility (CSR).