As the world grapples with the devastating consequences of climate change, it’s becoming increasingly clear that a collective effort is needed to address this global crisis. In this endeavour, corporate social responsibility initiatives have emerged as a powerful tool for companies to contribute to sustainability programs. Hence, companies worldwide are beginning to take action to reduce their environmental impact, and India is no exception, with many of its corporations actively investing in social initiatives to build a sustainable future for the country.
In 2020-21, Indian companies spent over INR 1000 crore on building and sustaining a sustainable future for our environment. From massive afforestation efforts to water conservation and waste management, many organisations in India are taking both external (launching social programmes) and internal (establishing green organisational norms) initiatives as part of their corporate social responsibility (CSR) efforts.
The central government of India tracks over 1700 companies across India to find which companies have been making the biggest contributions in CSR and at which places. Of all the states, Maharashtra with INR 150 crore has received the highest chunk of CSR investments in India followed by Tamil Nadu at INR 142 crore, and Gujarat at INR 98.73 crore. Also, technology and automotive companies are the biggest contributors to environmental sustainability in India.
Let us find out which are the top 10 companies making the biggest contributions to combat climate change:
- HCL Technologies: With a massive INR 44.31 crore spent in 2021, HCL Technologies was the biggest contributor to environmental sustainability programmes in 2020-21. HCL has taken several measures to minimize its impact on the environment, including the adoption of energy-efficient technologies, green data centres, and renewable energy sources. According to the technology company, it has increased the renewable portion of its energy consumption to 17.7 per cent in 2022 and also reduced its Scope 1 and 2 GHG emissions by 70%. The company also engages in tree plantation drives and promotes water conservation efforts. It claims to have planted over 8 lakh trees by 2022.
- ITC Limited: In 2020-21, ITC Limited’s contribution to India’s environmental sustainability initiative was INR 43.73 crore, just a little shy of HCL’s contribution. The Indian conglomerate has adopted a low carbon emission growth plan as part of its strategy to fight against climate change which involves the use of more renewable energy for its consumption. In fact, the company claims that around 42% of its energy currently comes from renewable energy. An example of this is that many of its luxury hotels meet their energy completely from wind farms owned by the company. The company also runs an afforestation programme in many parts of India, an initiative that has kept its carbon position for almost 17 years now.
- Infosys Limited: The Indian technology giant comes in third place in the list of the highest spenders on environmental sustainability in 2020-21. Its total investment in sustainability programmes was INR 42.05 crore. The company boasts a wide range of initiatives that it has taken to combat the climate crisis. In 2022, renewable sources of energy contributed more than half of the organisation’s electricity requirements. It has also installed almost 60 Mega Watt of solar capacity across India and works with the Indian government to ensure that creates favourable environmental policies to increase the use of renewable energy everywhere.
- Wipro Limited: Wipro’s efforts to bring down its carbon footprint have led it to fourth place in the list of top contributors to the environment fund in India. In 2020-21, the information technology MNC contributed around INR 39.09 crores in various sustainability initiatives. It has been steadily working to reduce the wastage of energy and water in its various business ventures. By 2030, Wipro plans to increase its renewable energy procurement to 110 units from its current average of 75 units. It also plans to decrease scope three GHG emissions by 55%. Scope 3 of GHG covers many business-related activities like travel, commute, fuel required by the company, and even work-from-home emissions.
- NTPC: NTPC is the only public enterprise to make it to the top 5 on the list of companies that have made the most contributions to CSR. Out of its total CSR contribution, it spent around 33.41 crores on the environment. The company has invested in setting up many RO water facilities in many villages across the country to ensure safe drinking water for the public. It has also set up many solid waste plants across India for which it received the “Gold Award in Environment Impact Initiative”. The company also aids many environmental policy initiatives of the government in many pockets of the country.
- Zoho Corporation: A surprise entry into the list, Zoho Corporation has been silently but steadily making an impact on the environment with its sustainability programmes, primarily in Tamil Nadu. The company’s total CSR investment in 2020-21 was INR 54.07 crore much more than what it was supposed to invest, i.e., INR 12.74 crores. Of the INR 54 crore, Zoho invested a whopping INR 28.01 crore in environmental sustainability programmes. Its contributions were spread across many fronts including disaster management, sustainability, and conservation of natural resources.
- Bajaj Auto Limited: India’s mammoth automotive multinational company is well-known for its water conservation efforts across the country, specifically in Maharashtra, where it is headquartered. The company spent around INR 25.08 crores of its total CSR spending on sustainability efforts. Most of its contributions go towards building water conservation projects in places with water scarcity. The company also collaborates with various foundations like the Paani Foundation, Foundation for Ecological Security, etc, to reach as many people as possible. It also has its own Bajaj Water Conservation Project in the Marathwada and Vidarbha regions of Maharashtra which face the most droughts in the country.
- Mahindra and Mahindra: The Mahindra company’s total CSR spent in 2020-21 was INR 92.05 crore of which around INR 21.38 was spent on environmental sustainability programmes. Most of its programmes are spread across India and its largest contribution to sustainability efforts goes towards protecting biodiversity and promoting afforestation. Under its Project Hariyali, Mahindra and Mahindra planted around 0.90 million trees in Andhra Pradesh. It is also engaged in various water management initiatives in Haryana. In terms of its organisational work, the company's current renewable energy consumption is 15%, which it plans to increase to 50% by 2025.
- TVS Motor: Headquartered in Chennai, the TVS motorcycle group is one of the top companies that have made the highest spending in environmental sustainability. Interestingly, most of the INR 19.95 crore TVS spent on CSR was to combat the climate crises. Some of the areas in which TVS has made a lot of investments in economic development, education, water conservation, health, and the environment. The company also focuses on spreading awareness about waste management and afforestation measures to protect forest covers and prevent forest fires.
- Cholamandalam Investment and Finance Company: Investment service company, Cholamandalam spent INR 18.8 crore of its total INR 32.07 crore to make it to the list of the highest investors in environmental sustainability. Cholamandalam’s efforts span a wide variety of initiatives in waste management, water conservation, and energy efficiency. The finance company supports many small-scale organisations that work in the renewable energy sector. Within the organisation, Cholamandalam plans to achieve green status for its corporate offices and also reduce the consumption of water through efficient water management systems.
In conclusion, the increasing trend of CSR initiatives in India towards environmental sustainability is a step in the right direction. While it is encouraging to see companies investing heavily in CSR activities to ensure a sustainable future, it is crucial to note that investment in the environment still lags behind sectors like education and healthcare. Therefore, it is essential for companies to increase their efforts towards environmental sustainability and incorporate it into their business strategies. Although the actions of the companies in the top 10 list may inspire many more to join the race towards a sustainable future, it is imperative that everyone plays their part – individuals, governments, and businesses alike – to preserve our planet for future generations.
x
