MAHINDRA & MAHINDRA LTD. | Integrated Annual Report 2022-23

77 COMPANY OVERVIEW BOARD’S REPORT MANAGEMENT DISCUSSION AND ANALYSIS CORPORATE GOVERNANCE BUSINESS RESPONSIBILITY AND SUSTAINABILITY REPORT STANDALONE ACCOUNTS CONSOLIDATED ACCOUNTS reduction initiatives for Integrated Development of the rural catchment. Besides this, 5 States were covered under region specific water initiatives to cover 19,446 beneficiaries cumulatively. – Employee Volunteering: Mahindra Group has a robust volunteering programme through the Employee Social Options (Esops) and MySeva platforms. While Esops programme is organised by the Mahindra Group, MySeva recognizes individual acts of Social Responsibility undertaken by Mahindra group employees. Through these employee volunteering platforms 55,873 employees invested 4,53,884.50 person hours of their personal time in numerous volunteering activities. Of these, 10,587 were employees of the Company who contributed 55,272 person hours towards a variety of social causes. At the group level, 1,46,721 person hours were invested through individual acts of Social Responsibility and the balance 3,07,163.50 person hours were contributed through Esops. A major development has been declaration of 5 th December as “Mahindra Volunteering Day”. The very first Mahindra Volunteering Day celebrated on 5 th December, 2022 had 9,301 employees contributing 26,944 person hours. During the Financial Year 2022-23, your Company was humbled to receive following awards for its contribution to the society: 1. Honorable Mention - Skill Development and Livelihood Category – National CSR Awards 2020 by Ministry of Corporate Affairs (Announced in August 2022) 2. Telangana State Industry Award – Silver Category for best CSR practice- Covid relief (March 2023) 3. Global CSR Excellence & Leadership Award 2023 – Winner in the ‘Women Empowerment’ Category (February 2023) 4. Best CSR Initiative “Project Pani” by ITOTY Awards (July 2022) 5. UBS Forum CSR Excellence Award 2022 for Community Health Project (November 2022) 6. CSR Times Award for Water Conservation Project (December 2022) 7. Best CSR Contribution Certificate by Government of Punjab (January 2023) CSR Policy The Corporate Social Responsibility Committee had formulated and recommended to the Board, a Corporate Social Responsibility Policy (CSR Policy) which was subsequently adopted by it and is being implemented by the Company. The CSR Policy including a brief overview of the projects or programs undertaken by the Company can be accessed in the Governance section at the web-link: https://www.mahindra. com/investor-relations/policies-and-documents . CSR Committee The CSR Committee comprises of Dr. Vishakha N. Desai (Chairperson), Mr. Anand G. Mahindra, Dr. Anish Shah, Mr. Vikram Singh Mehta and Mr. Muthiah Murugappan. The Committee, inter alia , reviews and monitors the CSR as well as Business Responsibility and Sustainability activities. The scope of the Committee was enhanced during the year by including in its Charter Environment, Social and Governance (ESG) related matters, the details of which are furnished in the Report on Corporate Governance that forms part of this Annual Report. During the year under review, your Company spent Rs. 92.28 crores on CSR activities. The amount equal to 2% of the average net pro t for the past three nancial years required to be spent on CSR activities was Rs. 91.87 crores. The Board has considered the Impact Assessment Reports at its meeting held on 26 th May, 2023. The detailed Annual Report on the CSR activities undertaken by your Company in the Financial Year 2023 along with the Executive Summary for Impact Assessment Reports of the applicable projects, is annexed herewith and marked as Annexure VI. The complete Impact Assessment Reports of the applicable projects can be accessed at the Web-link: https://www.mahindra.com/resources/FY23/AnnualReport.zip . Sustainability During the year under review, the 15 th Sustainability Report for the year 2021-22 was released. The Report was externally assured by KPMG and prepared in accordance with the GRI Standards - Core option. The Company plans to build a ‘Planet Positive Mahindra’ by focusing on three key pillars, greening ourselves, decarbonizing the industry and rejuvenating nature. Under pillar greening ourselves, the Company focuses on enhancing use of renewable energy, improving energy and water productivity, embedding