Mumbai: February 20, 2019: BSE Sammaan and IICSR have signed an MoU to establish a series of industry-specific frameworks to rate the corporates on the maturity of their Sustainability and CSR practices. The CSR and Sustainability maturity model are based on the 17 Sustainable Development Goals (SDGs) along with business challenges faced by different industries. This is the first step taken to measure, monitor and rate corporates and NGOs in India.
Speaking on this occasion Mr. Hemant Gupta, MD & CEO BSE Sammaan, said, “In the 5 years since the promulgation of the Indian CSR Act, I have seen more and more Companies complying with the Law and not just in letter, but also in spirit. The Sustainability and Social Responsibility Maturity Model (SSRMM) will create a roadmap for them to embark on a journey of making their Sustainability and CSR initiatives more impactful, sustainable and efficient.”
Ms. Harsha Mukherjee, MD IICSR observed that India is among the first countries to mandate CSR but lacks the professional expertise, measurement methodology, rating systems to ensure apt use of the CSR money spent. A Sustainability and Social Responsibility Maturity (SSRM) model would enable the industry and NGOs to rate themselves and take corrective steps to become CSR and Sustainability compliant company respectively.
The CSR law in India was introduced in 2013 was drafted by Dr. Bhaskar Chatterjee, Former secretary Government of India and Board member of IICSR. He cited, “This is indeed a historic first step in our endeavour to take CSR in India to the next level, where outcomes matter far more than outputs.
An objective assessment of the impact and on-ground difference that CSR projects are making was long overdue. This joint endeavour will be both path-breaking and immensely beneficial and will enable all stakeholders to assess just how much CSR initiatives are contributing to our national development efforts.”
Satish Jha, Co-founder and Board member of IICSR, observed that SSRM is a necessary step in making CSR efforts both measurable and comparable and will offer its users the necessary tools to manage their CSR engagements and achieve their goals more predictably.
BSE Sammaan is a fully owned subsidiary of BSE. BSE Sammaan has a mandate of transforming the CSR and Social Development ecosystems by leveraging technology as well as setting standards in the space through the development of path-breaking models such as the Sustainable Development Framework.
With over 1,300 credible NGOs on its platform that includes Project Management and Reporting, BSE Sammaan has become a trustworthy partner for Corporates in simplifying their CSR and making it more impactful.
International Institute for Corporate Sustainability and Responsibility (IICSR) is an informational, advisory and consultative services Organization on CSR, Quality and Sustainable Development supporting businesses and Governments.
IICSR supports and nurtures international cooperation on all issues relating to CSR and Sustainability including the training and research needs of CSR and Sustainability professionals. IICSR organizes roundtables, summits for the industry for the exchange of knowledge, networking and acknowledging the best practices.
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