In an engaging conversation with Jinisha Sharma, Principal- ESG and Impact Investments at Capri Global Capital Ltd., we delve into the organization's robust Corporate Social Responsibility (CSR) initiatives, particularly its commitment to empowering rural women. At Capri Global, Jinisha emphasises a dedicated approach to CSR, echoing the company's mission to build an equitable world. The interview provides insights into how Capri Global strategically aligns its CSR projects with societal needs, focusing on Sustainable Livelihood & Women Empowerment, Financial Inclusion, Education, Healthcare, and Animal Welfare.
Jinisha also talks about how Capri Global weaves technology into its CSR fabric, employing it for efficient program management and transparent reporting. The organization's overarching goal revolves around addressing social challenges faced by vulnerable sections, especially women, children, and youth from underprivileged backgrounds. This interview touches upon the connection between financial services and social responsibility, showcasing how Capri Global envisions a positive societal transformation through strategic deployment of capital. Jinisha also sheds light on the success stories emerging from their initiatives, illustrating the tangible impact on the lives of rural women and underserved communities.
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Q: How does Capri Global Capital approach Corporate Social Responsibility (CSR), and what is the overarching goal of its initiatives?
A: At Capri Global, we are dedicated to Corporate Social Responsibility (CSR) and believe in building and cementing of an equitable world. We employ augmented strategic approaches, focusing on measurable impact and collaboration with diverse stakeholders. Our multi-dimensional CSR initiatives extend beyond metropolitan centers to encompass rural and tribal communities, addressing Sustainable Livelihood & Women Empowerment, Financial Inclusion, Education, Healthcare, and Animal Welfare. Similarly, recognizing the transformative power of technology, we leverage it to efficiently manage and report CSR programs, enhancing transparency across the ecosystem.
Our overarching goal is focused on addressing social challenges faced by vulnerable sections of society, particularly women, children, and youth from underprivileged target groups. We aim to leverage our core competencies for sustainable development in local communities, aligning with environmental sustainability. In efforts to our initiative, we have launched multiple programmes covering areas of education, healthcare and sanitation, women’s empowerment, community empowerment, crisis and epidemic.
Aligned with eight UN-SDGs, our projects analyse community needs through a well-organized framework, ensuring the success of Capri Global CSR initiatives while staying true to our values and core beliefs.
Q: In what ways does the organisation see a connection between financial services and social responsibility in its CSR initiatives?
A: Capri Global financial services and company’s social responsibility has a significant connection, as the term "Capital" in Capri Global signifies a force for positive change. We firmly believe that deploying the right capital at the right time has the potential to bring about a meaningful societal transformation. Our CSR plan is strategically crafted to align with company values, ensuring successful initiatives. By combining financial services with effective implementation methods that reach the grassroots, we provide access to resources essential for community growth. This approach aims to foster sustainability, yielding tangible outcomes and contributing to the overall well-being of the communities we serve.
Q: Can you elaborate on the policies or strategies that the establishment has in place to address limited access to finance, education, and resources in its CSR efforts?
A: Capri Global CSR division has strategically redefined its focus areas to effectively address societal challenges and drive positive, sustainable change. Our key interventions span Women Empowerment & Sustainable Development, Education, Health, Environment, and Animal Welfare. Our interventions are focused on building a sustainable status quo. Beyond these, our initiatives encompass agricultural skill development, capacity building, and facilitating access to assets and resources. We prioritise gender consciousness and environmental sustainability through diverse programs. Our commitment lies in consistently strengthening and accelerating our CSR efforts to tackle a myriad of social issues. Through unwavering dedication, we aim to pioneer impactful initiatives, contributing to positive and lasting change. Serving the underserved is one of the core values of Capri Global and we translate that across initiates including CSR.
Q: How have your social initiatives impacted the lives of rural women, especially focusing on economic independence and breaking societal barriers?
A: “Rural women” who we consider as the backbone of rural economy, have no access to resources or have little support from their communities. In this scenario, sustainable livelihood provides them additional income that elevate their status in family and society at large. Comprehending the importance of women role in agriculture and allied sector, we have prioritised agenda to provide access to resources / schemes to them. For skill development, gender consciousness and capacity building amongst women farmer, various skills-training are being imparted under different Agri based interventions. We intend to provide easy access to resources to encourage their participation in agriculture. We ensure to provide access to training on latest agriculture, allied techniques, agro-ecological best practices, access to revolving funds to be used as seed funding, access to cold storage, skills in kitchen gardening and access to modern technology.
We at Capri Global, believe that “Financial literacy & Entrepreneurship” is a prerequisite for women and deprived communities to efficiently manage their personal and business finances and equip them with prudent decision making regarding financial products. We also aid in preventing over indebtedness and cultivating a sense of entrepreneurship among women and assists in the smooth functioning of their business. Inducing the above to the targeted communities and people, strengthens our steps exponentially, with each stage of initiatives we touch more and more people.
Q: Can you share a specific success story or notable case from any CSR initiatives that highlights the positive impact on the lives of rural women or the broader community?
A: Yes. Sure. Monika Chauhan has been the dynamic leader of "HARSHITA" Self-Help Group (SHG) in Ujjain, for the last 2 years. She is educated only till 5th grade. She was solely engaged in household activities. Since joining the SHG, she has not only connected with the Women's Empowerment Network (WEN) but has also actively participated in the British Broadcasting Corporation (BBC) project and associated with the Kala Maitri brand. Embracing newfound opportunities, Monika now successfully runs a saree shop in Ujjain. Joining the group has brought her both work and financial gains. She takes pride and mentions, “After joining the group, I not only found work but also earned money.” Managing and contributing to WISE's main office in Ujjain, she asserts, "I handle the work and the responsibility is more on me." Emphasising her commitment to perfection, she states, "When I do the work perfectly, it is evident that I can handle it."
Driven by an unwavering belief in the collective strength of women, Monika sees her management skills significantly enhanced through the WISE program. "If I hadn't joined, I would have been managing household chores," she says.
Having spent two impactful years with WISE, Monika now says, "Every woman should stand on her own feet, just like men do. After joining the group, my thoughts have gained strength." Monika's narrative is a testament to empowerment, transcending financial gains to encompass profound personal and collective transformation.
Q: You have the goal of reaching an additional 2 Lakh women in the next 5 years through CSR initiatives. What specific strategies or plans do you have in place to achieve that?
A: Corporate Social Responsibility (CSR) strategies evolve in response to community needs, demanding a robust yet flexible framework for effective implementation on the ground level. It’s important for us to mark our objectives and work towards the goal of sustainability step by step. Social change is like an evolutionary process, which not only increases the financial strength of a community but also elevates it to become part of the mainstream society. It’s a game of changing mindset, eliminating negative stereotypes, and fostering firm social structures.
At CGCL, we recognise the pivotal role of women in community development. They play a critical role in transforming the economic, environmental, and social landscape of communities. Harnessing their power as breadwinners, leaders, and change-makers is central to our CSR initiatives.
Capri Global CSR aims to empower 2 lakh women in the next five years. Our strategic investments span various geographic locations, targeting isolated communities to make them sustainable and develop more solid structures and functioning frameworks. The onboarding is targeted according to thrust areas which requires our attention. Our CSR initiatives are aligned to the business values which helps to focus on a long-term strategy and rings the desired Key Performance Indicators (KPIs) listed below in a sustainable manner.
1. Facilitating financial access and equality.
2. Empowering local committees such as SHGs, Federations, and Groups.
3. Advancing skills and fostering innovation, promoting entrepreneurship for enhanced livelihoods and market linkages.
4. Providing access and knowledge of modern technology to keep communities at the forefront of the digital era.
Q: Can you provide more insights into the mentorship programs, market linkages, and community collectives that empower women entrepreneurs under your CSR initiatives?
A: Our CSR initiatives prioritise impactful mentorship programs, ensuring guidance from dedicated professionals who engage at the grassroots level. These mentors, often sourced from the target communities, foster active participation and community involvement. For instance, initiatives like Business Sakhi involve appointing community members to guide and motivate women street vendors, fostering a sense of belief and belonging.
In terms of Market Linkages and Community Collectives, we focus on empowering communities to meet market demands. We initiate and revitalize Self Help Groups (SHGs), comprising of 10–20 members with similar socio-economic backgrounds. These SHGs, forming their own norms, conduct regular meetings, engage in savings and credit activities to enhance livelihoods. To equip SHGs for market demands, we provide professional support and create robust networks for product sales. Rural women exhibit a strong desire to overcome social divides and actively participate in the process. The SHGs produce a diverse range of products that create significant revenue potential when linked to proper marketplaces.
A crucial aspect involves training these women to excel in their expertise, enabling them to pursue profitable opportunities. We emphasise knowledge about the evolving economy to enhance products and devise effective strategies. Rigorous monitoring of production and quality control is coupled with linking products to consumers through diverse offline and digital platforms. This strategic approach ensures sustained growth, economic empowerment, and social impact.
Q: How does the organisation tailor its CSR initiatives to address the unique challenges and needs of rural women in Maharashtra, Rajasthan, Madhya Pradesh, Chhattisgarh, Assam, Nagaland, and Manipur?
A: Capri Global CSR wing strategically tailor initiatives to suit the needs of a specific areas most of which are unbanked and underbanked segments. It ensures the achievement of KPIs and long-term objectives. With a commitment to women empowerment and gender consciousness as a cross-cutting theme, our Sustainable Livelihood Initiatives specifically target women-led enterprises, addressing the skills gap in underserved communities. By imparting new skills and knowledge, we empower women and contribute to their economic well-being.
Q: How do you foster collaboration between corporates, government, civil society and other social sector stakeholders for your CSR initiatives?
A: Capri Global Corporate Social Responsibility (CSR) program through its long journey of more than 9 years employs two strategic implementation approaches—namely, the "top to bottom" and "bottom to top" methodologies. The former entails securing approval from higher authorities within organisational, local, and governmental structures, aligning CSR initiatives with overarching organizational goals. This hierarchical approach optimises resource allocation, streamlines implementation procedures, and pre-emptively addresses potential conflicts.
Conversely, the "bottom to top" approach involves meaningful engagement with stakeholders at lower organisational levels, including local communities and grassroot governmental and non-governmental organisations. Recognising the importance of understanding and responding to the specific needs of individuals directly impacted by CSR initiatives, this approach ensures a tailored and contextually relevant implementation. By incorporating insights from the grassroots level, our CSR program adapts initiatives to the distinct geographic locations and social environments in which they operate.
These strategic frameworks foster collaboration by involving both higher authorities and local stakeholders, creating a balanced approach that considers the perspectives of all involved parties. By obtaining explicit support from upper management and engaging with grassroots stakeholders, our CSR initiatives expedite implementation, contributing to the successful execution of sustainable changes while minimizing challenges associated with oversight.
Q: How do you measure the success and impact of your CSR initiatives, and are there specific metrics or indicators used for evaluation?
A: Capri Global diligently assesses the success and impact of its CSR initiatives through regular evaluations. This involves gathering stakeholder feedback, evaluating results, and scrutinizing the monitoring processes. This ongoing assessment ensures our CSR policy remains aligned with company values and goals, promoting continuous improvement.
To bring CSR goals to fruition, Capri Global develops a detailed action plan, specifying activities, timelines, and monitoring mechanisms. This systematic approach helps track progress and ensures organised implementation. Transparent reporting to stakeholders is a key facet, fostering trust by keeping them informed about what, why, and impact of our CSR efforts.
Capri Global prioritises compliance with constitutional law in all projects, ensuring regulatory adherence. Rigorous reporting, implementation, and monitoring practices are integral, allowing for identification of areas for improvement. Regular reviews and in-depth analyses inform decision-making, enabling successful initiatives to be replicated across different areas. This commitment to accountability and effectiveness underscores our dedication to being a responsible corporate citizen.
Q: Can you share any challenges encountered in implementing CSR initiatives and any key learning gained through these experiences?
A: The implementation of Capri Global CSR initiatives is undoubtedly daunting and filled with unseen social barriers. Clear plan and augmentative strategies to work together enables businesses and stakeholders to collaborate and make a significant impact. One of the challenges encountered during the implementation of our initiative was understanding the hierarchy of local authorities and social structures to better implement our objective. We clarified our intention to the authorities (Government/ Local Municipals/ Panchayat/ Community Groups) but also encouraged them to strive towards positive outcomes with transparency and cooperation.
Q: What are the upcoming plans and focus areas for the organisation in terms of CSR initiatives, particularly concerning the empowerment of rural women, and how does the company envision expanding its impact in the future?
A: Capri Global upcoming CSR strategy is marked by a commitment to expand initiatives, with a primary focus on empowering rural women and advancing health and livelihood programs. We envision a future where its CSR efforts continue to generate positive and enduring impacts, fostering inclusivity and sustainability.
Women Empowerment & Livelihood Initiatives: Capri Global is intensifying its CSR focus on empowering rural women through targeted livelihood initiatives. The goal is to provide individuals with the skills and resources necessary to secure sustainable incomes, thereby fostering economic development and resilience. The company envisions a future where its CSR initiatives continue to make a positive and lasting impact on communities and the environment, creating a more inclusive and sustainable world.
Go Deep Initiatives: Embedded in Capri Global core principles is the "go deep" approach, emphasizing a comprehensive impact within communities. The company is committed to delving deeper into societal and environmental challenges, addressing root issues to implement lasting solutions.
Geographical Expansion: Capri Global is set to expand its CSR footprint to new states, extending its reach to more communities and regions. This strategic expansion aims for a wider impact and greater inclusion of diverse demographics.
Scale and Numbers: With a keen focus on impact, Capri Global aims to amplify the scale and numbers of its CSR projects. By reaching more beneficiaries, the company seeks to create a more significant and enduring impact in the areas it serves.
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