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BOSTON STEEL LIMITED

2014-15

Corporate Social Responsibility Report


Boston Steel's commitment to Creating Value and the initiatives
undertaken for them is the central theme of this report.

The report highlights Boston Steel India's long-term view on growth and
sustainability and the commitments made during the year to create value
for the community. Boston Steel's strength lies in its ability to innovate,
effect process improvements through use of technology and most
importantly its commitment to the community. This report provides an
overview of the Company's capabilities in these areas
The purpose of this report is to give the details of the initiatives
undertaken under the corporate social responsibility and how they have
impacted the communities around.

There is a need in Boston steel Ltd. to identify the needs of the people
around them which include the stakeholders. They are District
Administration – Department of Education, Child & Family Welfare, Public
Health & Sanitation, Law & Order (Police) etc., Village – Gram Panchayat
and Sarpanch and village elders, representatives of local political parties
and local media.

The total steel capacity in India is today around 160 million tonnes per
annum, which is projected to grow to 290 million tonnes per annum by
2019-20. Boston Steel intends to be a significant player in the domestic
market and remain among the lowest cost producers of steel in the world.
Beyond 2012, the Company aspires to continue to grow its steelmaking
capacity to align with the projected growth in steel consumption in India.
Along with this the company also aspires to do its bit for the community.
Since there are about 2000 villages spread over an area in the 4 villages
which are currently under the project, it provides Boston steel to reach
out to the smallest of people and make a difference in their lives.

Its Company’s objectives towards a corporate citizen are to eliminate


Fatalities and provide a zero harm workplace environment, attract
and retain the best talent, including the high end technical talent,
improve its environmental performance and pursue the ethos of
creating a more inclusive world. Since the Company’s philosophy
of inclusive growth has always been rooted in the belief that value
creation must benefit the community in which the Company operates,
Boston Steel cannot limit its activities within the boundaries of the
Company alone. It has therefore, over the years reached out with
A veritable array of micro level activities to alleviate the plight of
The underprivileged which the company has decided to take it to the
macro level. Each of the Company's interventions were
directed at improving the quality of life of the beneficiaries by
understanding and enabling them to meet their diverse wants.
The Boston Code of Conduct will be implemented at Boston Steel Limited
through a formal process known as "Management of Business
Ethics". It will comprise four key elements:

(1) Leadership: The Managing Director will be the Chief Ethics Officer,
Responsible for ethical business and the implementation of the
Code of Conduct.
(2) Systems and Process: There is a structure in place at the
Board level to address ethics. The Chief Ethics Officer will report
Annually to the Chairman of the Board on ethical issues and
Compliance with the Code.
(3) Training and Awareness: This is an ongoing process at Boston
Steel covering all relevant stakeholders, particularly employees
and suppliers.
(4) Measurement: Concerns will be monitored, reported and acted
upon. Perceptions Surveys are conducted to assess perceptions of
employees.

METHODS AND FINDINGS:


The company has identified 4 new themes for focusing majorly on the
CSR activities. They are Education and Training, Health and Sanitation,
Livelihood Enhancement and Rural Infrastructure Development.

 EDUCATION AND TRAINING:

“Charity Begins at Home”. This dimension of the CSR includes


teaching and educating the children of all the fourth grade
employees. Also, the company has launched a 3 day policy in which
the employees are sent to various villages and they teach the
illiterate. The company has also planned to open a school for the
illiterate children.
The company endeavours to improve the quality of education by
adopting an integrated approach. Increasing and enhancing
teachers’ effectiveness, encouraging community participation and
improving school environment by making it child centric, friendly
and conducive to learning are the three pillars supporting the edifice
of the education sector.
 HEALTH AND SANITATION:

Open defecation is seen as the key issue in the villages spread


across the area. The company has tried to reach out and solve this
key issue in the villages by constructing various public toilets in the
less popular areas. Since Boston steel already works with local
village elders and gram panchayats they are educating these village
elders regarding open defecation. Also each home in the villages is
being provided with soaps so that they get a habit of washing their
hands. The company adopts a holistic approach while addressing
key issues to ensure that the poorest of the poor are covered under
the ambit of the Community Health Initiatives.
This dimension also includes organizing free health and dental
check-ups for all the villagers.

 LIVELIHOOD ENHANCEMENT:

As a part of livelihood enhancement, various recreational activities


such as melas and exhibitions are being encouraged and sponsored
by the company.
Construction of playing grounds for children and other recreational
activities are also encouraged. Various drives for the education of
the children to strive them for a better life are organized.
It helps in improving the bargaining power of the poorer and
marginalised communities by providing a range of informed choices
and livelihood options, facilitate stakeholder consultations, and
developing local partnerships to upgrade the basket of skill sets.

 RURAL INFRASTRUCTURE DEVELOPMENT:

This dimension of CSR includes development of the villages that fall


under the area. Various trees have been planted and an
environmental drive in these villages.
It has particularly focused on developing and harvesting water
resources in dry areas. Water conservation strategies include water
recharging and collection through various water harvesting
techniques. Recharging well and hand pump as well as constructing
check dams and storage tanks are the priority areas for the
company.

The Executive Committee of the Board, Ethics and Compliance


Committee and the Safety, Health & Environment Committee will be
responsible for overseeing the organisation's identification and
management of economic, social and economic performance. The terms
of reference of the Executive Committee of the Board are to approve
capital expenditure schemes and donations within the stipulated limits
and to recommend to the Board, capital budgets and other major capital
schemes, to consider new businesses, acquisitions, divestments, changes
in organizational
Structure and also to periodically review the Company's business plans
and future strategies.

The purpose of enterprise at Boston Steel is the community, its socio


economic progress through socially responsible business practices. Over
its century long history it adopted employee welfare measure and
practices, which went on to become part of the statutes in India. Several
of these practices were ahead of those followed globally, including an
eight-hour working day, maternity benefits and the Joint Consultation
process. The latter introduced the concept of freedom of association and
collective bargaining to Indian industry.

Boston Steel, as a responsible corporate citizen, holds views on public


policy. Where there is a link with business interests and no conflict of
interest, the Company sometimes engages with governments and with
trade associations and other bodies, including social service groups, which
seek to influence public policy.

REFRENCES:

http://www.tatasteel.com/sustainability/csr-reports.asp

http://www.itcportal.com/about-itc/policies/corporate-social-
responsibility-policy.aspx

https://www.youtube.com/watch?v=EQ6rR9r8e3E

http://www.epw.in/web-exclusives/analysis-corporate-social-
responsibility-expenditure-india.html

PREPARED BY:
SHUBHAM GUPTA (B016)