STT Global Data Centres India Private Limited (the “Company”) is committed to creating long term positive impact for customers, employees, investors and community. The Company believes that the vision of an organisation can only be realised with the active contribution of all stakeholders including the communities and society where it operates. And hence, the Company has taken on itself its obligation to the society and the people in need with special emphasis in the surrounding areas of the facilities and establishments of the Company. While the States have been carrying out a number of development projects, the Company on its part likes to participate / contribute and makes its presence in social, economic, infrastructural, educational activities etc., development for augmenting the quality of life of people in areas surrounding its facilities and establishments and society in general. The purpose of these efforts would be not only to help people by providing facilities for education, health, livelihood etc. but also to create opportunities for development of skills, employment including self-employment and to improve quality and dignity of life.
In accordance with the provision of Section 135 of the Companies Act, 2013 read with the rules thereunder and other regulatory requirements (“CSR Requirements”), the Company has constituted a Corporate Social Responsibility Committee of the Company (“CSR Committee”), and the CSR Committee has formulated this new CSR Policy and recommended the same to the board of directors of the Company (“Board”) for its consideration and approval.
This policy shall be effective from [11 March 2021].
With the endeavour to achieve the Company’s vision and fulfil commitment to be a socially responsible corporate citizen, this CSR policy has been formulated with the following objectives:
- To lay down guidelines to embed CSR as a business process for development of the society.
- To undertake projects / programmes which will enhance the quality of life and well-being of the communities in accordance with the CSR Requirements.
- To lay down guidelines for selection, implementation and monitoring of CSR activities as well as formulation of the annual action plan.
The Company believes that the primary purpose of a business is to improve the quality of life of people and that a corporate entity exists to serve society from where it sources its customers and other stakeholders. Hence, it is important to address the needs and concerns of the society in a proactive manner.
The Company will discharge its social responsibilities through assisting communities by actively implementing one or more developmental projects in the following areas:
- Eradicating hunger, poverty and malnutrition, promoting health care including preventive health care and sanitation including contribution to the Swach Bharat Kosh set-up by the Central Government for the promotion of sanitation and making available safe drinking water.
- Promoting education, including special education and employment enhancing vocation skills especially among children, women, elderly and the differently abled and livelihood enhancement projects.
- Promoting gender equality, empowering women, setting up homes and hostels for women and orphans; setting up old age homes, day care centres and such other facilities for senior citizens and measures for reducing inequalities faced by socially and economically backward groups.
- Ensuring environmental sustainability, ecological balance, protection of flora and fauna, animal welfare, agroforestry, conservation of natural resources and maintaining quality of soil, air and water including contribution to the Clean Ganga Fund set-up by the Central Government for rejuvenation of river Ganga.
- Protection of national heritage, art and culture including restoration of buildings and sites of historical importance and works of art; setting up public libraries; promotion and development of traditional art and handicrafts.
- Measures for the benefit of armed forces veterans, war widows and their dependents.
- Training to promote rural sports, nationally recognised sports, paralympic sports and olympic sports.
- Contribution to the prime minister’s national relief fund or any other funds set up by the governments for socio economic development and relief and welfare of the schedule caste, tribes, other backward classes, minorities and women.
- Contributions or funds provided to technology incubators located within academic institutions which are approved by the central govt.
- Rural development projects.
- Slum area development.
- Disaster management, including relief, rehabilitation and reconstruction activities.
- Other permissible CSR activities, as may be recognised under applicable laws, from time to time.
In the above focus areas, the activities will be prioritised to reach the underserved segments of the population, the economically, socially and geographically disadvantaged, and vulnerable and marginalied communities. The Company shall also emphasise on employee volunteering in all its CSR efforts. The Company shall endeavour to give preference to the local areas and areas around which it operates, for spending the amount earmarked for CSR.
The CSR Committee shall be responsible for identifying and evaluating the CSR projects / programmes, recommending the CSR budget, implementing and monitoring the Company’s CSR programmes. Requests received by the Company for funding of specific projects shall be evaluated by the Company based on the focus areas identified in this policy and projects will be prioritised by assessing their impact. Such proposals will then be forwarded to the CSR Committee. The CSR Committee will deliberate on the proposals and recommend the proposals to the Board for approval.
The CSR Committee shall also formulate and recommend to the Board an annual action plan containing a list of CSR projects approved to be undertaken by the CSR Committee and other project modalities including implementation and monitoring of such projects as per CSR Requirements applicable from time to time.
The Company may undertake and implement its CSR activities directly or through various eligible implementing agencies as per CSR Requirements.
The CSR Committee may identify and authorise the official(s) of the Company to deal with and report on the matters related to identification and implementation of the CSR activities. Such official(s) shall also collaborate and liaise with stakeholders to monitor the status of each project and report its findings to the CSR Committee periodically. CSR Committee may procure assistance of external parties for implementation and monitoring of CSR projects.
Budgeting and funding
The minimum funds allocated for CSR would be as per the Indian Companies Act, 2013.
This policy provides that the corpus of funds allocated for CSR activities, on yearly basis, would be atleast 2% of the average net profits of the Company made during the three immediately preceding financial years as per the Indian Companies Act, 2013 and read with the rules thereunder. The CSR expenditure and carry forward of obligations will be undertaken per the Indian Companies Act, 2013 and read with the rules thereunder as applicable from time to time.
This CSR Policy shall be subject to review and modification by the Board of the Company from time to time, as may be necessary.