EVOLVE GLOBAL CORP (“EVOLVE” or “the Company”) has been an early adopter of corporate social responsibility (“CSR”) initiatives. Along with sustained economic performance, environmental and social stewardship is also a key factor for holistic business growth. EVOLVE CSR works towards removing malnutrition, improving healthcare infrastructure, supporting primary education, rehabilitating destitute individuals, and caring for animals, and preserving Indian art and culture. EVOLVE CSR partners with non-government organizations (NGOs) to make a difference among local communities. The Company’s focus has always been to contribute to the sustainable development of society and the environment, and to make our planet more livable for future generations.
EVOLVE’ CSR Policy intends to:
i. Strive for economic development that positively impacts society at large with minimal resource footprint.
ii. Embrace responsibility for the Company’s actions and encourage a positive impact through its activities to alleviate hunger, poverty, and malnutrition; to protect the environment; and to support communities, stakeholders, and society.
3. Focus areas and Modes of implementation
In accordance with the requirements under the Companies Act, 2013 and the rules / regulations framed there under, and circulars / clarifications issued thereunder (collectively, “Applicable Law”), EVOLVE CSR activities, amongst others, will focus on:
HUNGER, POVERTY, MALNUTRITION AND HEALTH: Eradicating extreme hunger, poverty, and malnutrition, promoting preventive healthcare and sanitation and making available safe drinking water.
EDUCATION: Promoting education, including special education and employment-enhancing vocational skills, especially among children, women, the elderly and the differently abled, and livelihood enhancement projects; monetary contributions to academic institutions for establishing endowment funds, chairs, laboratories, etc., with the objective of assisting students in their studies, this also includes skilling and re- skilling initiatives for those who are in need.
RURAL DEVELOPMENT PROJECTS: Strengthening rural areas by improving accessibility, housing, drinking water, sanitation, power, and livelihoods, thereby creating sustainable villages.
GENDER EQUALITY AND EMPOWERMENT OF WOMEN: Promoting gender equality and empowering women; setting up homes, hostels and day care centers for women and orphans; setting up old age homes and other similar facilities for senior citizens; and adopting measures for reducing inequalities faced by socially and economically backward groups.
ENVIRONMENTAL SUSTAINABILITY: Ensuring environmental sustainability, ecological balance, protection of flora and fauna, animal welfare, agro-forestry, conservation of natural resources and maintaining the quality of soil, air and water.
Modes of implementation
|Sl. No||Focus Area||Implementation strategy|
|1||Hunger, poverty, malnutrition, and healthcare||Work directly or with non-profit organizations at infrastructure and/or operational level to support meal or nutrition related programs in schools and other institutions across India. Work with medical and health related organizations for projects in preventive healthcare, short term and long- term care and treatments.|
|2||Education||Partner directly or with non-profit organizations, primary, secondary and higher educational institutions including schools, colleges, and universities to encourage efforts in a wide range of areas including training, provision of funding for continued education, skilling and re-skilling initiatives, offline and online education, research, infrastructure development and capacity building.|
|3||Rural Development||Work with non-governmental organizations (NGOs) and local administrations to achieve community development goals. Partner directly or with governments and NGOs to support projects related to development and improvement of infrastructure and essential amenities, livelihood and skilling initiatives, training and education, and rehabilitating disaster-affected victims in rural areas.|
|4||Gender equality and empowerment of women||Work directly or with NGOs to reach out to underprivileged and socially disadvantaged persons including women and children towards the cause of gender equality and empowerment. Projects include awareness activities, trainings, support for livelihood related efforts, infrastructure development, and operational needs.|
4. Undertaking CSR activities
EVOLVE will undertake its CSR activities (being projects / programs / other permitted activities), approved by the CSR Committee either directly or through the EVOLVE CSR team and / or such other eligible entity / organization as approved by the CSR Committee.
The surplus arising out of the CSR activities shall not form part of the business profit of the Company. Such surplus shall be spent towards its CSR activities in accordance with this policy.
Identification and implementation of multi-year CSR projects / programs (“Ongoing Projects”) will be monitored by the CSR Committee and the Board of Directors of the Company (“the Board”), as required under Applicable Law.
5. CSR Annual Action Plan And Location Of CSR Efforts
The CSR Committee shall decide on the locations for CSR activities and formulate and recommend to the Board for approval a CSR annual action plan, which shall contain all matters which are required under Applicable Law and any other matters as the CSR Committee may deem fit from time to time.
The Board may modify the annual action plan as per the recommendations of the CSR Committee at any time during the financial year, based on reasonable justification.
6. Impact Assessment
Impact assessment shall be undertaken by the Company or by recipient or by implementing agency as required by and in the manner set out under Applicable Law, and the impact assessment report(s) shall be placed before the CSR Committee and the Board and shall be disclosed as legally required.
7. Composition Of CSR Committee And Disclosures
The CSR Committee shall be comprised in accordance with the requirements of Applicable Law. This CSR Policy, details of the composition of the CSR Committee and projects approved by the Board shall be hosted on the Company's website at www.evolveglobalcorp.com.
The Company can undertake CSR activities either by itself or through other entities eligible to undertake CSR activities under Applicable Law. Accordingly, EVOLVE CSR team or such other entity will work closely with and support the Board and the CSR Committee in carrying out the CSR activities of the Company. EVOLVE CSR team or such other entity will assist the CSR Committee in identifying the areas of CSR activities and execution of initiatives as per defined guidelines. EVOLVE CSR team or such other entity will also assist the Board and the CSR Committee in reporting the progress of deployed initiatives and in making appropriate disclosures (internal / external) on a periodic basis.
9. Funding, Selection And Monitoring Process
EVOLVE CSR or such other entity will receive requests for funding of projects throughout the calendar year. Its panel of experts will evaluate proposals received under the EVOLVE CSR or such other entity’s focus areas and projects will be prioritized by assessing their potential impact. The EVOLVE CSR or such other entity will then forward its recommendations to the CSR Committee. The CSR Committee will deliberate on the proposals and approve proposals for implementation at its discretion.
EVOLVE’ representatives and / or EVOLVE CSR or such other entity will collaborate with stakeholders to monitor the status of each project and will report its findings to the CSR Committee periodically to enable the Board and the Management of the Company to meet their reporting, monitoring and other legal obligations.
In any year, where the Company has spent more than its CSR obligation, such excess spending shall be available for set off against the Company’s CSR obligations for up to the next three financial years in accordance with Applicable Law, and the Board shall be competent to pass a resolution in this regard.