Corporates Hiking CSR Spending To Align With National Goals: Nasscom

New Delhi: Participation in Corporate Social Responsibility (CSR) activities saw a significant rise in 2022-23, with the number of companies engaged in social initiatives growing by 22 per cent compared to 2021-22 and the total spending registering a 13 per cent increase, reflecting a stronger commitment to social responsibility, according to a Nasscom report released on Friday. The findings are based on an analysis of over 270 companies across tech and non-tech domains and interactions with top CSR leaders. Additionally, the proportion of companies allocating more than 2 per cent of their profits to CSR initiatives grew from 64 per cent in FY19 to 74 per cent in FY23, highlighting a steady shift toward higher corporate contributions to social impact, the report states.

Tech companies contribute significantly to CSR, accounting for 23 per cent of spending among India’s top 20 contributors. In FY23, as many as 75 leading tech companies spearheaded over 2,610 CSR projects, driving large-scale impact across key areas such as education, healthcare, environmental sustainability, skilling, and climate change. According to the survey findings, 41 per cent organisations are allotting top priority to CSR goals that align with SDGs and national agenda. Key national priorities include employment creation, skilling, and social justice, while SDGs focus on quality education, gender equality, and good health.