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      4 trends that will redefine the CSR sector in 2019

      Home|Blogs|4 trends that will redefine the CSR sector in 2019
      Redefine the CSR Sector - Fiinovation

      Organizations across the globe are realizing the benefits of adopting socially responsible behaviour. Realizing the importance of CSR, India became the first country to mandate Corporate Social Responsibility under Schedule VII, Section 135 of the Companies Act 2013 and spend a minimum of 2% of their average net profit to protect the interests of the communities they operate.

      With advanced technology and Corporate-like management practices the social sector has started to undergo significant changes. The following are some of the key trends that the CSR sector is expected to witness in 2019.

      1.Focus on disaster management: With the influx of natural catastrophes in the past few years there is an increased need for focus on disaster management. The recent announcement by govt. on considering all disaster-related expenditure towards CSR is an opportunity for corporates to spend more resources, time and money in strategizing ways to mitigate climate change and implement effective disaster management.

      2.More focus on Climate change: With the rise of global warming, plastic pollution and socio-economic problems, more companies have been stepping in to take up responsibilities for people and the planet in their CSR initiatives. Companies have started to realize the importance of CSR and commit to reduce waste and adopt business. Such practice also help in building rapport for the Corporates as consumers are choosing to support eco-friendly and sustainable companies more.

      3.Technology and innovation in the Social sector: Adopting technology and innovation in the Social sector can actually facilitate in moving from the traditional mode of operating to a more agile, transparent and efficient way. With the help of technology, structural issues with the social sector can be effectively analysed and addressed. Social workers can use online resources to communicate with the Corporates, track their information and resources. With the help of technology its possible to create online support groups for remote communities which can be easily moderated.

      4.Major Collaboration between NGOs & Corporates: Traditionally, NGOs and Social sectors were collaborating with Govt Agencies or international aid organizations. However, in recent years, the social sector has found new collaborators in multinational corporations and big Indian Corporates. These corporates are partnering with NGOs to plan & carry their CSR Initiatives in critical areas like education, sanitation, environment, health-care, water etc. Alongside this, the major focus of NGOs was to raise funds from philanthropists or donors. But now with the Corporate support, NGOs are playing a critical role for the social sector in terms of designing proposal, its impact, adhering to time lines and diligent reporting.

      While the majority of Corporates and NGOs have adapted to the changing landscape of CSR in the country, some still have to adapt to it as swiftly as possible. Such adoption of trends will ensure to realize the CSR vision into reality and bring measurable outcomes within the communities.