Case Study - CSR initiatives of Thermax
Thermax believes that corporate organisations should think beyond profit and reach out for the wellbeing of the larger society. Guided by the vision of its founder Chairman Rohinton Aga - 'profit is not just a set of figure but of values'
Thermax believes that corporate organisations should think beyond profit and reach out for the wellbeing of the larger society. Guided by the vision of its founder Chairman Rohinton Aga - 'profit is not just a set of figure but of values' - over the years, Thermax has worked on a modest CSR agenda to fulfill its obligations to its wider circle of stakeholders including the communities in which it operates.
The CSR programme of the company got a formal structure and a governing body when the Thermax Social Initiative Foundation (TSIF) was formed in March, 2007 as a not-for-profit body registered under Section 25 of the Companies Act. Convinced that education can be the best enabler to come up in life, the Foundation has decided to primarily focus on initiatives in this crucial area.
Thermax, as a part of its social obligation, is committed to
- Provide quality education to the underprivileged children.
- Create an environment that respects the communities and the natural environment.
- As a signatory to CII's initiative on affirmative action, work to achieve the defined objectives.
- Involve and encourage employees and their families to participate in the various social initiatives of the company.
Says Anu Aga, Director and former Chairperson, "I would like our company to play a bigger role in community affairs with complete adherence to the tenets of good corporate governance. We will actively commit ourselves to initiatives that can help improve the quality of life of the communities in which we live and work."
Corporate Social Responsibility
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Education for Change
Under the aegis of Thermax Social Initiative Foundation (TSIF), Thermax has signed a memorandum of understanding (MOU) with the Pune Municipal Corporation (PMC) School Board for a period of 30 years.
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Partnership with Akanksha
Thermax has been supporting the work of Akanksha Foundation, working to improve the lives of underprivileged children. It supports two of Akanksha's learning centres in Pune.
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Rural Initiative
Thermax, in association with CII and Gaurav Pratisthan (popularly known as Pani Panchayat) launched a project for watershed management in Pondhe village, 70 km from Pune.
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Affirmative Action
As a signatory to the Code of Conduct for Affirmative Action proposed by CII and ASSOCHEM, Thermax is committed to make a conscious effort, without compromising merit, to bring in greater representation of Scheduled Castes (SC) and Scheduled Tribes (ST) in its new hires at all levels.
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Employee Involement
In August 2007, Thermax associated with Give India, a not-for-profit organisation to launch a payroll giving programme that offers its employees an opportunity to contribute to worthy social causes. Our employees, under this voluntary programme, can donate any amount from their salary, every month, to a cause of their choice.
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Preparing for Employment
Thermax also supports the CII-Yi initiative of Livelihoods Advancement Business School (LABS), a programme started by Dr. Reddy's Foundation.The objective of the programme is to make young people from less privileged sections employable by providing them job-oriented training in areas like hospitality, customer relations, sales, IT enabled services and bedside patient care.