As a "corporate citizen of planet Earth", The Company promotes CSR oriented management placing the utmost importance on acting with integrity in all business activities. The guiding principles of CSR are at the heart of our all business management practices. The Company (herein after referred to as Company) is committed to advocate the highest standards of Corporate Social Responsibility (CSR). We are committed towards improving the quality of life of the communities that we serve through awareness and value creation.
GROHE is the world’s leading single-brand manufacturer and supplier of sanitary fittings. The business of the company, its branches and subsidiaries are located in different parts of the world. Quality, technology, design and sustainability, Four brand values that illustrate our commitment to creating exceptional experiences. We set our standards extremely high to ensure that every time you turn on a GROHE faucet or step into a GROHE shower you can feel the difference. The company’s policy on CSR is broadly framed taking into account the following measures:
- a. Contribution to the society at large by way of social and cultural development, imparting education, training and social awareness, especially with regards to the economically backward classes.
- b. Protection and safeguarding of the environment and maintaining an ecological balance.
The main objective of CSR policy is to lay down guidelines for the company to make CSR a key business process for sustainable development for the society. It aims at supplementing the role of the government in actively contributing to the social and economic development of the communities in which we operate. The Company will act as a good Corporate Citizen.
IV. CSR Activities
With this vision in mind, the Company proposes to carry out one or more of the following Corporate Social Responsibility activities (“CSR Activities”/ “CSR Projects”):
- 1 Promoting education, including special education and employment enhancing vocational skills especially among children, women and the differently abled including livelihood enhancement projects;
- 2 Promoting gender equality and thus empowering women;
- 3 Ensuring environmental sustainability, ecological balance, protection of flora and fauna and animal welfare;
- 4 Training to promote rural sports, nationally recognized sports, Paralympic sports as well as Olympic sports;
- 5 Contributions to the Prime Minister's National Relief Fund or any other fund set up by the Central Government as part of a project approved by CSRC for socio-economic development and relief and welfare of the Scheduled Castes, the Scheduled Tribes, other backward classes, minorities and women;
- 6 Protection of national heritage and promotion of arts and culture; and
- 7 Rural development projects;
- 8 Contributions or funds provided to technology incubators located within academic institutions which are approved by the central government;
- 9 Eradicating hunger, poverty and malnutrition, promoting preventive health care and sanitation and making available safe drinking water.
- 10 Any other area as may be prescribed by Schedule VII amended from time to time.
V. Modalities of Execution of CSR Activities
Our CSR Activities will be carried out in one or more of following modalities:
- a) Company directly;
- b) Company through a trust/ society/Section 8 company in India established by the Company in accordance with the Corporate Social Responsibility Rules, 2013 (the “Rules”) to the Companies Act, 2013 (the “Act”)
- c) Company through a trust/society /Section 8 company which has a proven track record of three (3) years.
- d) Company in collaboration with other like-minded companies either directly or through trust/society /Section 8 company operating in India;
The entities other than the Company as specified above in b, c, and d shall be hereinafter referred to as “Partner Organization” The Company believes in being employee-driven in its approach and will encourage its employees to actively engage in CSR Activities voluntarily as part of their individual contribution to the community (“Volunteers”).
VI. CSR Committee & Constitution
Pursuant to the provisions of Section 135 of the Companies Act 2013, the Board shall constitute the Corporate Social Responsibility (CSR) Committee. The said committee will consist of the atleast three directors, or such other number as prescribed under the Applicable Laws, to oversee the development, implementation and monitoring of the Company’s CSR activities (the “CSR Committee”). The responsibilities of the CSR Committee and board shall include:
Responsibility of the Board: The Board is responsible for:
- a) Approving the CSR policy subject to necessary changes/modifications as the Board may deem fit.
- b) Ensuring that the activities included in CSR policy are undertaken by the Company.
- c) Ensuring that in each financial year the Company spends at-least 2% of average net profit before tax made during three immediate preceding financial years in accordance to Section 135 of The Company Act 2013. If company fails to spend such amount, The Board shall specify the reason for not spending the amount in its report under clause (o) of sub-section (3) of section 134.
- d) Disclose annual CSR Report and policy on the Company website and any other acts, deeds, and things as may be required under law from time to time.
Responsibilities of CSR Committee: CSR Committee would be responsible for:
- a) Formulating and recommending CSR Policy to the Board which shall enlist activities to be undertaken in line with Section 135 and Schedule VII of The Companies Act 2013 for approval.
- b) Recommending CSR budget to the Board that ought to be undertaken by the Company.
- c) Spend the allocated CSR budget on CSR activities once it is approved by the Board in accordance with The Companies Act 2013 and Rules.
- d) Create transparent monitoring mechanism for implementation of CSR initiatives in India.
- e) Continuously review the CSR policy and recommend modifications, if any, to the Board.
Submit the reports to the Board in respect of the CSR activities undertaken by the Company.
The company Board has formed CSR Committee who will oversee the policy execution and prepare monitoring mechanism to ensure implementation of the projects, programmes and activities proposed to be undertaken by the Company as per the Policy. Project monitoring may include periodic field visits, comprehensive documentation, and if required interaction with beneficiary communities. The CSR Committee will submit an annual report to the Board stating the status of CSR activities and outlay on various projects/ programs. The CSR Committee shall ensure that the surplus arising out of CSR activities shall not form part of the business profit of the Company.
The Board of Directors shall ensure that the activities as are included in this CSR Policy are undertaken by the company and that the company spends two per cent of the average net profits as stipulated, in pursuance of this CSR Policy giving preference to the local area and the national capital region. The Board shall provide an Annual Report on the CSR Activities in the prescribed format. The company will also ensure a responsibility statement of the CSR Committee that the implementation and monitoring of CSR Policy is in compliance with CSR objectives and Policy of the company.
IX. MANAGEMENT COMMITMENT
Our Board of Directors, our Management and all of our employees subscribe to the philosophy of compassionate care. We believe and act on an ethos of generosity and compassion, characterised by a willingness to build a society that works for everyone. This is the cornerstone of our CSR policy.
The above guidelines would form the framework around which the CSR activities would be undertaken. The Board will review the Policy from time to time based on changing needs and aspirations of the target beneficiaries and make suitable modifications, as may be necessary