<p>An appropriate mechanism is being developed for public sector companies to report about their Corporate Social Responsibility (CSR) activities, the government said on Monday.</p>.<p>The move comes at a time when the new legislation on companies require private firms to spend at least 2 per cent of three-year average annual profit towards CSR work.<br /><br />“The implementation of CSR guidelines is also monitored by the administrative Ministry/Department concerned with CPSEs. An appropriate mechanism is being developed for reporting,” Corporate Affairs Minister Sachin Pilot told the Rajya Sabha.<br /><br />In a written reply, he also said that the Department of Public Enterprises (DPE) is not “centrally maintaining the data on CSR spending” by Central Public Sector Companies. At present, the performance of public sector undertakings with regard to CSR activities and sustainability is evaluated by the DPE through Memorandum of Understanding with the entity concerned.</p>
<p>An appropriate mechanism is being developed for public sector companies to report about their Corporate Social Responsibility (CSR) activities, the government said on Monday.</p>.<p>The move comes at a time when the new legislation on companies require private firms to spend at least 2 per cent of three-year average annual profit towards CSR work.<br /><br />“The implementation of CSR guidelines is also monitored by the administrative Ministry/Department concerned with CPSEs. An appropriate mechanism is being developed for reporting,” Corporate Affairs Minister Sachin Pilot told the Rajya Sabha.<br /><br />In a written reply, he also said that the Department of Public Enterprises (DPE) is not “centrally maintaining the data on CSR spending” by Central Public Sector Companies. At present, the performance of public sector undertakings with regard to CSR activities and sustainability is evaluated by the DPE through Memorandum of Understanding with the entity concerned.</p>