Samhita’s Report on Social Stock Exchanges from 7 Countries

Samhita recently conducted a study of SSE’s in 7 countries to evaluate its importance in India

The Securities and Exchange Board of India (SEBI) approved the creation of the ‘Social Stock Exchange’ which is widely perceived to be a game changer in the social impact segment.

According to Samhita’s report, SSE holds the potential of becoming an agent of change for civil society. It can theoretically unlock new capital, promote equity, introduce new instruments for donors to fund operations, streamline regulations and create an ecosystem of enabling frameworks for civil society.

But on the other hand the report also lays down the risks such as duplicating the operations of a conventional stock exchange, segmenting or further exacerbating inequalities within and between sectors, and failing to create a strong culture of giving. Stakeholders must create a representative that incorporates the concerns and wisdom of civil society and social organisations.

An SSE can be a means for the markets to serve the society; not for society to serve the markets.

Hyderabad City establishes its first FSTP with the support of CSR, promoting Citywide Inclusive Sanitation

The Minister of Municipal Administration and Urban Development, Government of Telangana, K. T. Rama Rao, inaugurated Hyderabad’s first Faecal Sludge Treatment Plant (FSTP), set up by the Hyderabad Metropolitan Water Supply & Sewerage Board (HMWSSB).

This public-private initiative is supported by HDFC Limited through its philanthropic arm, the H T PAREKH FOUNDATION and facilitated by Samhita & Administrative Staff College of India (ASCI).  

The Minister also flagged off 87 septic tank trucks and said that two more FSTPs located in Nagaram and Injapur would be operational in the coming days.

Bringing humanity to the boardroom

In 2014, India became the first country in the world to mandate corporate social responsibility (CSR) spending. CSR in India isn’t about making one-time charitable donations – it has a higher purpose of giving back to the community and creating positive social change. The mandate has made Indian corporates think more proactively about social issues in India and focus their ideas of business responsibility and purpose.

In this article, ADP Rethink traces the evolution of CSR in India as it goes from being a regulation to redefining corporate citizenship.

Collaborating against COVID-19: Rallying global support to vaccinate India

Through strategic partnerships, Global India Fund, Samhita, and Collective Good Foundation fight to ensure equity in the world’s largest vaccination drive

When India’s COVID-19 case count surged in April 2021, the devastation horrified the world — healthcare systems collapsed, cremation sites were overcrowded and morgues worked around the clock. The crisis was unprecedented. 

The second surge put the spotlight on the need for collective action. Immediate critical healthcare requirements such as oxygen concentrators, ventilators and hospital beds were in extremely short supply. With the fear of subsequent waves already washing through the population, it was necessary to increase long-term efforts to end the pandemic — i.e: Vaccinations.

Yet, only 3.5% of India’s 1.4 billion population was fully vaccinated at the start of the second wave in April 2021. Burdened by wastage, supply constraints, and accessibility barriers, India’s vaccination drive has been slow and staggered. To create long-term solutions to end the pandemic and supplement government efforts, Global India Fund (GIF), in collaboration with Samhita and Collective Good Foundation (CGF), launched the Together for India | #VaccinateIndia Campaign, an international fundraising initiative to support vaccination of the second-most populous country in the world.

The Together for India fundraising campaign, launched in April 2021 in response to the COVID-19 crisis in India, has rallied Indians, international humanitarians, and the Indian diaspora who want to support the equitable distribution of vaccines in India. For those most weighed down by the economic fallout of the pandemic, the toll on health becomes inescapable. They are also at an increased disadvantage at all stages of access, such as the inability to access the CoWIN portal to register for vaccination, burden on health systems to deliver at scale during vaccinations, and lack of information and healthcare support post vaccination. “We need to take a comprehensive approach to not just recovery, but also resilience and growth. As part of a holistic approach to solving India’s livelihood crisis created by the pandemic, we are focused on efforts to ramp up vaccinations for vulnerable communities. It is important to address problems in vaccine access, to ensure that no one is left behind. That’s the only way India can take a decisive step forward in this time of crisis to truly create a ‘better normal’,” says Priya Naik, CEO and Founder, Samhita.

The fundraiser focuses on marginalised and vulnerable communities and those with poor access to healthcare to tackle vaccine hesitancy; it ensures availability of vaccination material like syringes, needles, etc.; and addresses vaccine barriers like tech illiteracy and information asymmetry. “As people around the world watched the crisis unfold in India, they were eager to help in any way possible. People wanted to help their friends, family, colleagues, and even strangers. Amidst the devastation, we knew that vaccinations would offer hope and a way out of this pandemic, but that also hinged on ensuring equitable distribution of vaccines. We know that vaccinations can fight COVID-19, but we also know that everyone needs to be vaccinated — not just those who are educated or have the means. And we know that in some communities, we also have to combat vaccine hesitancy. It is only when a vast majority of India is vaccinated that we’ll know we have won the fight against COVID-19,” says Amita Vyas, Founder, Global India Fund. 

With strategic partnerships forged by Samhita and CGF, the first phase of the Together for India | #VaccinateIndia campaign is kicking off simultaneously in Maharashtra and Madhya Pradesh. Support from corporates, philanthropy, civil society, and influencers remain an essential and immediate requirement to accelerate access to vaccines at multiple locations, which will result in an increased adoption of immunisation drives and ensure compliance to COVID-19 appropriate behaviours post vaccination. 

In partnership with the Rotary Club of Pune Central and Jivika Healthcare (VaccineOnWheels), the vaccination drive in Maharashtra will be supported by the Municipal Corporation of Satara City to set up vaccination centres at the community level. The program will accelerate vaccinations in socio-economically challenged communities and free daily doses will also be made available to beneficiaries identified by the government. The vaccination project in Madhya Pradesh, executed in partnership with Transforming Rural India Foundation (TRIF), is expected to have a reach of 1,00,000 people across five blocks to increase awareness and encourage individuals to get vaccinated in nearby government-run vaccination centres. 

These strategic partnerships have gone beyond vaccines — the partnership with GIF has resulted in the donation of 400 5L Oxygen Concentrators to the Government of Punjab and 380 Oxygen Concentrators to the Madhya Pradesh Forest Department.  

In the next phase of partnerships, Samhita envisions rolling out vaccination programs across Gujarat, Rajasthan, Uttar Pradesh, Bihar, Jharkhand and other parts of the country in partnership with other strategic partners. The objective is to achieve 1million vaccination doses given to those from the most vulnerable communities across the country. 

As the pandemic reached an incomprehensible scale in India, donors and diaspora from around the world have come forward to fundraise and help alleviate the situation. From corporate donations and celebrities rallying their followers, to individuals hosting fundraising events through yoga and dance classes, the pandemic has fostered collaboration from all over the world to support India. In the same vein, GIF, Samhita and CGF are inviting and nurturing new tactical partnerships to ensure vaccine equity in India — vaccines are our only hope in defeating this pandemic.

This article is written purely for the purpose of gratitude and public recognition of GIF and CGF’s philanthropy

Decoding CSR Amendments 2021

Initiating discussions to decode the CSR Amendments 2021, Samhita Social Ventures and Noshir Dadrawala, Programme Director at the Centre for Advancement of Philanthropy cohosted a webinar and engaged with over 150 representatives of companies, philanthropic trusts and foundations on 3 February 2021.

FAQs On The CSR Law Amendments 2021

The Ministry of Corporate Affairs, on 22nd January 2021, updated the Companies Corporate Social Responsibility Rules. These CSR law amendments bring several significant changes to the national CSR policy including an increased focus on impact assessment, decriminalisation of non-compliance, greater inclusion of international organizations, and provisions altering the guidelines for management of excess funds and surplus expenditures. 

Here are the answers to some frequently asked questions (FAQ) about the CSR Amendment Rules 2021:

What activities qualify as CSR activities?

According to the latest amendment, the following expenditure will now be included in the list of CSR activities:

  1. Research & development of new vaccines, medication, and medical devices related to COVID-19 in the firm’s normal course of business
  2. Overseas training of Indian sports personnel representing any State or Union territory at national level or India at international level.

According to the latest amendment, the following expenditure will NOT be included in the list of CSR activities:

  1. Contribution of any amount directly or indirectly to any political party
  2. Activities benefiting employees of the company
  3. Activities on sponsorship basis for deriving marketing benefits for its products or services

What all must a company’s CSR Policy mandatorily include?

A company’s CSR Policy needs to mandatorily include:

  1. List of CSR projects that are approved to be undertaken
  2. The manner of execution of such projects
  3. The details of utilization of funds for the projects
  4. Implementation schedules for the projects
  5. Monitoring and reporting mechanism for the projects
  6. Details of impact assessment, if any, for the projects undertaken by the company

What are “Administrative Overheads” and what does the definition include?

Under the new rules, “Administrative Overheads” will only include expenses directly incurred by the company on “ general management & administration” of CSR functions. 

Therefore, the expenses incurred by the company on designing, implementation, monitoring, and evaluation of a particular Corporate Social Responsibility project will not be included as part of the administrative overheads but as a CSR expenditure.

Also, the board shall ensure that the administrative overheads shall not exceed five percent of total CSR expenditure of the company for the financial year.

What is the penalty for non-compliance to CSR rules and obligations?

A significant departure from the erstwhile CSR policy, non-compliance to the CSR rules and obligations will no longer be treated as a criminal offence. These will now be treated as civil wrongs.

What CSR related information does a company have to disclose publicly:

The 2021 CSR amendment mandates that every company must disclose the following:

  1. Composition of the CSR Committee
  2. The CSR Policy
  3. Projects approved by the Board 

Has impact assessment of a company’s CSR projects made mandatory in the new CSR law amendments?

Impact assessment is only mandatory for companies with CSR obligations of INR10 crore or more of any and all projects with outlays of INR1 crore or more. These Impact assessments must be undertaken by an independent agency.

What is an international organization and what CSR functions can it fulfill?

A company may engage International Organisations for designing, monitoring and evaluation of the CSR projects and for capacity building of their own personnel for CSR.

“International organization” means an organisation notified by the Central Government as an international organization under section 3 of the United Nations (Privileges and Immunities) Act, 1947.

What is to be done with additional income being generated through a company’s CSR projects?

Any surplus income being generated through a company’s CSR activities can not form part of the company’s profit. The surplus shall be reinvested into the same project or shall be transferred to the Unspent CSR Account.

What happens if a company spends more than its required CSR expenditure?

Any CSR expenditure that exceeds the required amount can be carried forward to the next three years.

Can the company create or acquire any capital assets using its CSR expenditure? 

CSR funds may be spent on creating or acquiring capital assets. Although, these capital assets can not be held by the company. They must be held by any one of the following entities:

  1. A Section 8 company
  2. A registered public Trust or Society having charitable objects 
  3. Beneficiaries of said projects
  4. Public authorities

Is there any provision for projects that go on for longer than one year in the new CSR Law Amendments?

A new concept of an “ongoing project” has been added to the rules. ‘Ongoing Project’ means a multi-year project undertaken by a Company in fulfilment of its CSR obligation having timelines not exceeding three years. These can include projects that were initially not multi-year projects but were extended based on reasonable justification.

What is a Utilization Certificate?

A Utilization Certificate must now be presented by the CFO to the Board, certifying that all the funds allocated by the Board have been utilized in a manner approved by the board.

Impact Assessments are top priority – What do the new CSR rules say

On January 22, 2021, the Ministry of Corporate Affairs amended the earlier CSR Rules of 2014 and notified the Companies (Corporate Social Responsibility Policy) Amendment Rules 2021, to make impact assessment mandatory for companies undertaking CSR activities and CSR expenditure above a specified threshold. The move aims to create accurate parameters in assessing the impact of CSR activities by shifting the focus from expenditure alone to impact assessment, and improve the quality of CSR projects while enhancing accountability and transparency.

This FAQ is a result of collaboration between Samhita & Centre For Advancement of Philanthropy. It has been written with the guidance of Noshir Dadrawala

Following are the answers to some of the most frequently asked questions (FAQs) about impact assessment:

Q1. What is the need for impact assessment?

Impact assessments help funders, grant-makers and companies to understand and evaluate the impact of their social investments in programmes and projects on their target beneficiaries or society. The findings of an assessment also help funders and companies to make evidence-based decisions in implementation and identify hurdles, allowing for programme continuity, scale, sustainability, efficiency, etc.

Q2. Do all companies need to conduct impact assessments?

According to the January 2021 amendment, impact assessment is mandatory for companies with a CSR budget of INR 10 crore or more in any fiscal year and all projects with outlays of INR 1 crore or more. These impact assessments must be undertaken by an independent agency.

However, it is suggested as best practise that impact assessment be undertaken for all projects as standard procedure,. Especially long term projects.

Q3. According to the new amendment, when must companies undertake impact assessments?

At least one year after programme implementation is complete.

Q4. If a company has a multi-year project, should the impact assessment be carried out after completion of the project?

Yes. As per Rule No. 8, if companies have multi-year programmes (say 3 years), impact assessment needs to be conducted after completion of three years of the programme. Additionally, a follow up assessment needs to be conducted one year after the completion of the programme to better understand the programme’s after effects.

However, if programmes are renewed or scaled up after each financial year, they would be treated as individual single year programmes, and separate impact assessments should be taken up every year.

Q5. Who can conduct an impact assessment?

Companies or their CSR initiatives cannot conduct impact assessments (selfassessment) on their own. An independent agency must be engaged for the assessment.

Q6. Is there a limit on the expense for undertaking impact assessment?

Yes, impact assessment related expenditure may be booked as a CSR expense as long as it does not exceed 5% of the total CSR spending or INR 50,00,000, whichever is less.

Q7. Is the limit applicable on the entire CSR budget or per project?

The limit is applicable on the total CSR budget of the financial year.

Q8. Will the cost for researchers/consultants/agencies be counted as part of the INR 50 lakh or 5% limit or can the spending be accounted for outside that?

Under the amended rules, “Administrative overheads” will now mean expenses incurred by the company for ‘general management and administration’ of Corporate Social Responsibility functions in the company but shall not include the expenses directly incurred for the designing, implementation, monitoring, and evaluation of a particular Corporate Social Responsibility project or programme.

Further, a Company undertaking impact assessment may book the expenditure towards Corporate Social Responsibility for that financial year, which shall not exceed five percent of the total CSR expenditure for that financial year or fifty lakh rupees, whichever is less.

Thus, in our opinion, cost for researchers/consulting is neither part of the INR 50 lakh cap, nor the 5% cap on Admin expenditure

Q9. Can a project conduct impact assessment prior to completion of one year (short duration project) or should it wait for one year? If done earlier, would it be counted as part of the compliance?

The project should have completed at least one year. If it is an on-going project of three years, it would make sense to study impact only on completion of three years.


If you have any queries, want to know how to undertake an impact assessment or connect with the Samhita Impact Assessment team, feel free to reach out to us at csr@dev.samhita.org

To know more about the other 2021 CSR Amendments check out Samhita’s detailed FAQ.

How can CSR and philanthropy respond to the second COVID-19 wave?

The COVID-19 Pandemic disrupted all aspects of the economy and our lives.  For the first time ever, the focus shifted to the state of public health infrastructure, resources and quality of delivery.  It also clearly brought home the direct impact of health of a community on the nation’s economic recovery. The India Protectors’ Alliance (IPA) was a quick and agile response to the situation at hand – it quickly focussed on the needs and skills of frontline health workers (the protectors) and infrastructure needs of the healthcare systems as outlined by local administrations. The IPA today is a collaborative of 30 companies and has already crossed the milestone of impacting 500K lives.

The second wave of the pandemic is already upon us and seems to have settled in for the long haul.  By most estimates, the country shall continue to witness multiple waves till such time that the vaccination drive covers a critical mass of the population.  At IPA, we have redoubled our efforts and expanded the scope as our understanding of the needs on the ground evolves. 

IPA remains committed to responding to the immediate needs as well as strengthen the health ecosystem to better manage future health emergencies. Based on our experience of working with communities, state governments and public health experts, we have put together a list of interventions that need immediate funding and will also see long term benefits.  Some of them are detailed below:

Oxygen

Oxygenation has been a critical need for managing complications of COVID19 since the virus primarily attacks the lungs and upper respiratory tract of the patients. Also, as the body of knowledge about disease management grew, it was understood that oxygen support can be provided with a combination of low-flow, hi-flow oxygen concentrators and ventilators depending on the severity of the disease.

IPA has curated the a program to provide oxygen concentrators, ventilators and other equipment to small private / government hospitals. IPA is also working with over 100 implementation partners from all over the country to be able to deploy them quickly even into the rural areas.

Oxygenation equipment supports not only the COVID19 patients but also helps build future capacity of hospitals to ensure safe delivery of children, treat cardiovascular diseases, treat accidents and trauma patients and other emergencies.  

Vaccination

With the arrival of vaccines, we now have a real fighting chance against the virus. To get back to a semblance of normalcy, it is imperative that masses get vaccinated at the earliest possible. Currently, the vaccines are facing some supply issues but that is temporary in nature. 

With the recent announcements by the MoHFW, the vaccination program has got a big shot in the arm. 

  • More vaccine manufacturers have been given permission,
  • Age group of vaccination has been expanded to include 18years and above,
  • State governments have been given permission to procure vaccines as per local needs and
  • Vaccines are allowed to be sold on open markets. 

IPA has curated following programs to help you:

  • Vaccinate vulnerable communities in your catchment areas 
  • Workplace vaccination for corporates or stakeholder communities
  • Create awareness and educate communities about the benefits of vaccines and overcome vaccine hesitancy
  • Work with private providers to ensure everyone has vaccine access in the near future

The following programs are already underway :

  • Mass immunization COVID vaccine drive: We have already started our program in some districts of Maharashtra & AP for mobilizing marginalized communities to private hospitals & getting them registered & vaccinated. Program can be expanded to other critical cities depending on the on-ground requirement and client’s preference.
  • Mobile vaccination: Mobile unit across India with capability to roll out such unique initiatives across geographies. Our implementation partner team has already received an approval from Hon. commissioner Rajesh Patil of Pune’s PCMC. Rolling out this in Pune, expanding to tribal areas in Maharashtra and eventually Pan India.
  • IEC content and awareness program: With misinformation or no information for people living in media dark areas, our team is creating content with experts and will mobilize our on-ground teams to provide right information and support it with IVR consultation.
  • Modules for healthcare practitioners: Creation of FAQ documents, training manual for HCP to support the MoHFW and disseminating this to relevant stakeholders.

Masks & Masking

Vaccines are here but masks are more important than ever.  In fact, most experts now recommend double masking. There is an ongoing need to continuously reinforce messaging around the need to #PehnoSahi or masking right. 

IPA has curated programs focusing on:

  • Continuing to support programs such as the Billion Masks Initiative (a MIT, Standford, Deshpande Foundation, Tata Power supported program) to ramp up mask manufacturing through SHGs and connecting them to PharmEasy, Amazon and Flipkart
  • Large scale mask donations bundled with vaccines 
  • Mask + vaccine campaign with CEOs and leaders exhorting their employees and stakeholders through personal pledges / declarations, eg. “I have taken the vaccine and will continue to wear the mask because I care for you.”

Insurance

Healthcare expenditure drags millions of Indians into poverty every year. The impulsive lockdowns have had a similar effect on many communities who are staggering under the double impact of loss of wages and threat of infection. More than ever, there is a need to bring in more frontline workers (sanitation workers, rag pickers, retailers, suppliers etc) under the ambit of health insurance.  IPA is working on curating an insurance product that will help communities take control of their own health and proactively seek healthcare services in the future as well.  A community which has assured access to healthcare participates in economic activity more enthusiastically and contributes to nation building.

Tele-Consultations

The second wave of COVID has started affecting the villages and smaller towns, which were earlier spared the onslaught.  Access to medical help is sketchy at best especially in the rural areas.  Tele-Consultation is the fastest way to enable vulnerable and far-flung communities to access medical advice for management of mild COVID cases.  This stops the overcrowding and pressure on District Hospitals and Tertiary care hospitals in bigger cities and Metros.  With our solution partners, IPA can set this service up really quickly and this is a viable, measurable, low cost yet impactful way to make a difference in the war against COVID.

Strengthening healthcare and sanitation infrastructure

It is essential to ensure that communities have access to hygienic sanitation facilities and fully equipped healthcare facilities, even more so during these trying times.

With Samhita’s significant experience in WASH, IPA can help facilitate upgradation of infrastructure to best serve the communities that are important to you.

The India Protectors’ Alliance continues to work in mission mode to respond to strengthen the country’s fight against the coronavirus.

It would be great if we can get on a quick call to understand your priorities so that we can help you maximize your impact on the ground.  We would also like to hear if there are any specific or customized interventions that you would like us to co-create under the IPA. To know how you can help or to partner with the IPA, reach us at meera.b@dev.samhita.org or fill in the form shared below.

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Vaccinating India: How can CSR make a difference?

India has been reporting over 3,00,000 fresh cases of COVID-19 daily since April 2021, the highest since the pandemic broke out, a clear sign that we need to ramp up immunisation to stem the spread of the coronavirus.

India’s vaccination programme was flagged off in January 2021. The Government has cleared Serum Institute’s COVISHIELD (in collaboration with AstraZeneca) and Bharat Biotech’s COVAXIN. Many other vaccines are in the pipeline and in advanced stages of being launched.

The current vaccination coverage accounts for a very marginal percentage of the country’s population and a collaboration between governments, corporates and civil society will be critical for success.

The Role of Corporate Social Responsibility

While the guidelines on corporate involvement keep evolving, the latest CSR amendment allows companies to account for expenditure on COVID-19 vaccines and activities that promote vaccination as CSR spending. However, according to the norms, companies can only claim vaccination cost as CSR activity if they inoculate local communities in a non-discriminatory manner. Vaccinating employees can not be included as a CSR expense. Samhita and the India Protectors Alliance (IPA) have identified three challenges that the vaccination drive currently faces and have put together approaches that could help overcome them.

Strengthening the vaccine drive

Long queues and large congregations at vaccination sites are a common sight, and must be addressed with a more efficient distribution system.
Additionally, with India witnessing significant vaccine wastage, it is imperative to promote optimal utilisation and drastically reduce waste.

To help distribute vaccines more efficiently, IPA has designed the following interventions:
● Deploying and administering the vaccine in large proportions. With the support of private organisations, large cohorts could be covered in a short span of time.
● Identification, registration and mobilisation of beneficiaries at scale.
● Inoculation process, post inoculation monitoring; providing a robust technology platform to manage the programme and monitoring the vaccination of the beneficiaries.
● Community-wide immunisation drives to inoculate at risk vulnerable communities who have either very little or no awareness about the vaccination programme.

Vaccine hesitancy

Vaccine hesitancy refers to the delay in acceptance or refusal to take the vaccine despite the widespread availability of vaccine services. This is influenced by factors such as complacency, convenience, and overconfidence.

To to build greater confidence in the vaccine, IPA has curated the following programmes:
● Leveraging community media platforms for community engagement on COVID-19 vaccine-related information and other health related information among remote, underserved communities in India.
● Pre-recorded messages uploaded on the platform for all the callers to listen to, updated on a weekly basis (more frequently, if required), based on the most frequently asked questions by users or the misinformation reported by field teams. New content pieces will also be developed based on trending questions.

Capacity building & training

Deployment of sufficiently trained vaccinators is the need of the hour. All health workers involved in the implementation of vaccination need to have adequate knowledge and skills to ensure safe and efficient vaccine administration. Training must cover a wide range of aspects — including knowledge on storage, handling, delivery and waste management of COVID-19 vaccines. Training health workers is also critical to address vaccine hesitancy and build public trust.

To better equip healthcare workers, IPA’s interventions include:
● Supporting MoHFW and State Government agencies in developing the healthcare workers’ training manual and creating additional IEC assets such as factsheets and FAQ documents in regional languages.
● Printing and dissemination of the training manual and IEC materials to relevant stakeholders.
● Conducting social mobilisation and advocacy activities.

Vaccination Programme for a leading Corporate Donor

A leading Insurance company, in partnership with Samhita and the IPA, has started a vaccination programme in Maharashtra & Andhra Pradesh which address both community needs and SBI’s priorities on worker’s health and workplace safety.

This is a comprehensive programme designed to assist marginalised and vulnerable communities at every step of the way, from pre-mobilisation to complete vaccination to follow ups.

We are looking for Corporate partners to mobilize communities and get them vaccinated at hospitals or government booths or any other set up approved by the MoHFW.

To learn more and join us in our efforts to immunise India, contact us at csr@dev.samhita.org or fill in the form shared below.

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