HPY strives to contribute to solve social issues through sustainable CSR initiatives. By recognizing, identifying and prioritizing social issues, HPY aims to implement well-planned local CSR initiatives through collaboration with employees, consultation and communication with various stakeholders.
The purpose of this policy is to:
HPY’s CSR policy contributes to the Company and Hitachi Group’s objectives by focusing on one or more of the activities as defined in Schedule VII of the Company’s Act 2013 (please refer Annexure). HPY’s primary objective would be align itself with the CSR activities pursued by Hitachi Group in the Country towards accomplishing the One Hitachi mission.
Criteria for Initiatives
HPY will emphasize, focus, select and plan CSR initiatives in accordance with new Company’s Act, 2013 (11 activities outlined in Schedule VII) by referring to the following selection criteria :
The Board of Directors will nominate three Directors as CSR Committee Members. Once the CSR Committee is formed, following will be its responsibilities:
CSR Expenditure & Approval Process
Any surplus arising from the CSR projects or activities undertaken by HPY will be tracked and channelized into the CSR corpus. These funds will be further used in development of the CSR projects.
Any or all of the provisions of HPY’s CSR Policy would be subject to amendment/revision by the Board of Directors based on the recommendations of the CSR Committee that may be issued from time to time.
Activities under Schedule VII of New Company’s Act 2013