Small BusinessMajority of firms prefer NGOs for CSR drive: Assocham
As much as 70 per cent of companies surveyed by the industry body Assocham prefer to work with NGOs to implement their corporate social responsibility (CSR) initiatives.
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"About 67 per cent of domestic corporates have chosen NGOs to partner closely for discharging their CSR initiatives, while 58 per cent of them preferred government departments," the study by Assocham said.
Over 200 NGOs in the country are specialised in CSR projects. Companies prefer to work with these non-profit bodies mainly because they are well-versed with such activities, their norms and guidelines are simpler and transparent, it said.
The importance of building strong public-private partnerships and working closely with NGOs is being increasingly realised by corporates, Assocham President Swati Piramal said.
Further, it said, many companies have a separate CSR department to implement their initatives.
Assocham conducted a study of 100 corporate houses on their most favoured organisation for CSR initiatives.