As A Responsible Corporate Citizen, Spectrum Takes Pride In Giving Back To The Community In Meaningful Ways. Their CSR Initiatives Focus On Education, Healthcare, And Environment, Recognizing The Importance Of Holistic Development.
Spectrum believes that education is the key to a prosperous future, and has undertaken initiatives to improve its quality for the community surrounding their plant. They provide scholarship schemes, enhance infrastructure, and equip students with learning amenities.
The Company is committed to healthcare, offering TB screenings and supplying essential medical infrastructure. In addition, it provides nutritional supplements to support the well-being of individuals in need. Recognizing the significance of accessible healthcare, Spectrum actively collaborates with health centres to ensure quality medical support for all.
Spectrum's unwavering commitment to environmental sustainability is evident through the implementation of over 20 rainwater harvesting systems. These systems have been instrumental in recharging groundwater levels in the surrounding villages.
At Spectrum, we are committed to making a difference in the communities where we live, work and do business. This commitment dates to the earliest years of our group and is a vital part of both our heritage and of who we are today. Spectrum has a rich history of corporate social responsibility, a history that has grown and evolved to meet the complexities of today's business world and the challenges of a global society. We are proud of our progress, but there is still much we can do.
The Company strongly believes that corporate success and social welfare are inter dependent. CSR Policy of the Company has been formulated considering the statutory provisions and activities enumerated in Schedule VII of the Companies Act, 2013.
To promote, carry out, support any activities covered in Schedule VII to the Companies Act, 2013, as amended from time to time.
(a) Current focus of CSR Projects is on healthcare, education, preservation of natural resources, skill development, rural development, agriculture, women empowerment, sanitation etc.
(b) Such projects or programs may be undertaken by Company itself or through a registered Trust or registered Society or through such Agencies which have an established track record.
Geographic locations for CSR activities is selected based on following criteria:
(a) Where we are likely to be more effective due to greater ground level connect, such as Surat District in Gujarat.
(b) Supporting activities of other NGOs, Trusts, etc. where they are doing effective work in our areas of interest.
CSR expenditure shall include all expenditure for projects or programs relating to CSR activities approved by the Board on the recommendation of its CSR Committee.
The CSR Committee shall formulate and recommend to the Board, an Annual Action Plan as per the guiding principles laid down under the applicable laws.
Any surpluses arising out of CSR projects or programs or activities shall not form part of the business profits of the Company.
The CSR Committee shall institute a transparent monitoring mechanism for implementation of the Corporate Social Responsibility projects or programs or activities undertaken by the Company and significantly higher engagement for the community.