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StudY LoveR VeeR (SLV) Official

18 July 2023 06:26

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StudY LoveR VeeR (SLV) Official

18 July 2023 03:43

Steps to Address the Concentration of CSR Funds and other Challenges
A Regulatory Shift and Change at Ecosystem Level
This will increase the level of trust between companies inter se, and between the private, public, and social sectors is high.
This will enable companies to find trusted for-profit, social enterprises and non-profit partners.
Collaboration between Large Companies and Small Social Enterprises
Collaborations can involve pooling funding, talent, resources, and innovations to address complex, intersectional challenges.
A partnerships-based approach could be helpful in achieving scale.
NGOs Can Play a Crucial Role
The development sector can also facilitate equitable fund distribution.
For instance, pan-India non-profits with big budgets heavily rely on grassroots organisations for project implementation.
These larger players can promote and elevate the impact created by their lesser-known partners, handhold them with compliance, and act as trusted conduits to build a stronger social ecosystem.
Alignment of CSR Programmes with Local Government
Through initiatives like the Aspirational District Programme and the Aspirational Block Programme.
The ADP emphasises convergence with national and state schemes, fostering collaboration among local, state, and national governance entities, and with external agencies for implementation.
Participation in such programmes is a win-win; companies develop meaningful relationships with government departments, influence local governance practices, and streamline district administration work while undertaking impactful projects in vulnerable districts.

Steps to Ensure the Smooth Functioning of Collaborations
It is critical that these collaborations balance the autonomyof non-profit organisations while providing accountability to the funders.
Companies contemplating remote projects where staff cannot often make field visits can rely on technology-enabled monitoring and evaluation models.
The pandemic has already facilitated some of this shift, with tools to transfer and share real-time data, the creation of dashboards, sophisticated accounting software, virtual field visits, and video conferencing.
However, more needs to be done to enable non-profits to adopt technology.

Conclusion
RBI’s push to incorporate environmental responsibility in CSR and bring climate change goals to the centre stage of discussions will help in addressing the pressing issue of climate change and its impact on the economy and society.
Through proposed changes to CSR by RBI, corporations that wish to be true national partners in realising environmental and social goals will have to establish trusted partnerships with a more diverse set of non-profits and local governments.

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