Policy Statement on Corporate Social Responsibility


•   Phoenix believes in positively contributing to the economic, environmental and social wellbeing of communities through Corporate Social Responsibility (CSR) agenda.

•  This policy statement sets out Phoenix's vision, mission, governance, commitments and initiatives towards implementing CSR through inclusive growth.


•   To positively contribute towards economic, environmental and social well-being of communities through Corporate Social Responsibility agenda.


•   Create a lasting value for communities by:
        o   Promoting and supporting education and other interventions for the under privileged
        o   Encouraging employee volunteering
        o   Support Non-Governmental Organizations and other institutions with financial and other resources
to collectively deliver community initiatives


•   Phoenix has established Board-level Corporate Social Responsibility Committee which is responsible to monitor, review and approve CSR initiatives and expenditure. The Committee shall make recommendations to the Board on CSR policy and related matters.

•   The CSR Committee consists of one independent director and two directors.

Statement of commitment

•   Phoenix is committed to:

o   Engage with communities to understand their material expectations and concerns, and will consider these material expectations and concerns to design its CSR agenda.

o   Implement, monitor, review and evaluate CSR initiatives to achieve the desired outcomes in a transparent manner.

o    Promote education interventions to serve the less privileged and empower them to transform their lives.

o   Partner with Governmental agencies, Non-Governmental Organizations and other institution to collectively deliver the community development initiatives and support such organizations and institutions with appropriate and necessary resources.

o    Encourage its employees to contribute and volunteer for various community development initiatives.

o   Ensure that surplus arising out of CSR initiatives is utilized to further augment CSR agenda and does not form part of the company’s profits.

o    Comply with all legal provisions applicable for CSR and adopt industry best practices, where feasible.

CSR Initiatives

o   Promoting Education: Phoenix endeavours to enhance the accessibility and affordability of quality education for deserving underserved sections of society. Education will remain the primary CSR focus area, and the initiatives will focus on providing financial and other resources support to schools including infrastructure, scholarships and coaching to deserving children, parents, teachers, headmasters, principals and administrators to provide holistic learning environment for children at school and home including mid-day meals and other required nutrition and health related support. The education initiatives will be primarily implemented through NGOs or Trusts dedicated for education.

o   Enhancing vocational skills and livelihood projects: Phoenix will work towards imparting vocational skills to deserving children and youth, women, elderly, and the differently-abled. The programme aims at holistic development of these children and youth, women, elderly, and the differently-abled through technical and soft skills and enhances their livelihood opportunities.

o  Promoting preventive healthcare and sanitation: Phoenix shall promote preventive health care and sanitation by providing health checkups for children covered under education initiatives and sensitizing the children on personal and community health and hygiene. On a case by case basis, Phoenix will also support various NGOs working in the fields of healthcare, sanitation, eradication of hunger and malnutrition, and provision of access to safe drinking water. It will also conduct periodic blood donation drives.

o   Reducing inequalities faced by socially and economically backward groups: Phoenix shall support NGOs working towards rehabilitating socially and economically backward sections of society by providing safe houses through community house building initiatives. It shall also work with NGOs working towards promoting gender equality, empowering women, setting up homes and hostels for women and orphans,setting up old age homes, day care centres and other such facilities for senior citizens and measures for reducing inequalities face by socially and economically backward groups.

o   Environmental Sustainability: Phoenix will sponsor for environmental sustainability activities such as tree plantation either directly or through an external stakeholder / NGO. Phoenix shall provide support to NGOs working towards maintaining ecological balance, protection of flora and fauna, animal welfare, agro forestry, conservation of natural resources and maintaining quality of soil, air and water.

o   Contribution to Prime Minister’s National Relief Fund: Phoenix will support relief and rehabilitation activities undertaken by the Prime Minister’s National Relief Fund in cases of natural calamities and disasters.

o  Sports: Phoenix will through an NGO and Not For Profit Organisation support rural sports, nationally recognized sports, Paralympic sports and Olympic sports including the training and development of sportsmen of the said sports.

Execution, Monitoring and Review

o   Phoenix will nominate an officer for implementing objectives of this policy.

o  The Said officer shall coordinate with NGOs or such other institutions dedicated to education for poor, enhancing vocational skills & livelihood projects, preventive healthcare projects and such other projects covered in the policy.

o  The Officer would obtain details of the project, and then submit a proposal to the CSR Committee for its approval.

o  The Officer would also obtain a report for the monies spent and do a periodic review of the utilization of monies spent on CSR.

o  The Officer shall submit fund utilization report to the CSR Committee quarterly for its consideration.

o  The fund utilization report will conform to the format prescribed U/S 134 and U/S 135 of Companies Act, 2013 and as per the updates / revised notification issued by the Ministry of Corporate Affairs from time to time.

o  The said Officer will ensure compliance and keep the CSR Committee and the Board informed on CSR activities and CSR spends. In the event of a nil or no activity or no expenditure the same will also be notified to the Board.

o  The CSR initiatives will be monitored and reviewed on a quarterly basis.

The surplus, if any, arising out of the CSR projects or programs or activities shall not form part of the business profits of the Company.

Want us to get in touch with you?