Essar Foundation CEO, Mr Deepak Arora recently spoke at the India Sustainability Conclave. The conclave was organised by FICCI, and Essar Foundation participated in the third Plenary Session titled CSR & Sustainability: Creating Shared Value.
Mr Arora presented Essar’s CSR contribution towards Creating Shared Value (CSV), and on how industry as a whole, in the long term, can move towards a model of CSV.
While the Indian context of CSR is not always entirely compatible with CSV, with some time and thought given to the approach and strategy of how businesses function, we can incorporate CSV into the business function. The idea that was shared as part of the panel discussion, concluded with taking CSV from ‘finite to infinite’, i.e., there is limited impact of any CSR initiative in the first few years; but as long term initiatives progress, the programme and therefore, the community and environment become more stable over time. Multiple outcomes emerge beyond the expected and planned ones. This multiplier effect of the impact is important for a truly sustainable CSV.?
Essar Foundation was the only case study that showcased community-focused impact of Creating Shared Value at the event.
Representation at forums:
Essar Foundation is at the forefront in diffusing knowledge at leading forums. The Foundation has been among the few who have been doing CSR in a structured and institutional manner for several years, and hence is keen to disseminate this experience for the benefit of the CSR sector as a whole.