Figure1: CSR Representation

CSR efforts are now required for industrial firms of a specific size and type under the IEA (Industrial Enterprise Act) of 2020, and for the Nepalese banking sector under NRB (Nepal Rastra Bank) regulations. These policies had made mandated spending a minimum of 1% of net profit in CSR. [1] There is also a provision from IEA that if the set target is not met then the corporation will be penalized for 0.75% of the annual revenue. [2] Also, section 9 of the same Act prescribes that any industry which is supposed to be significantly dangerous to health and the environment needs prior permission before establishing. [3]

Figure 2: Focus of the social responsibility

Examples of some corporations in Nepal acting responsibly toward the environment through their CSR.[4]

• Telecommunications

• Nepal Telecom
• For the past five years, there has been an effort to preserve the vegetation along the Maitighar-Tinkune route in Kathmandu.
• Another prominent NT social project concentrating on environmental protection is the Bagmati River Clean-Up campaign.

• Ncell
• To help with reforestation and environmental preservation, Ncell planted 50,000 trees on 33 hectares of bare land in the Dhanushadham Protected Forest (DPF) and launched a community awareness campaign.

• Industries

• Surya Nepal
• Initiated the ‘Green Birgunj’ campaign.
• The SNPL Prakriti (Nature) scheme: focuses on preserving the environment with the stated mission of “Creating Enduring Value Through Environment Preservation”.

• Bottlers Nepal
• Collaboration with notable environmental organizations like Himalayan Climate Initiative, UN-Habitat, Ganesha Ecosphere, and others in recycling PET bottles in Nepal.

• Banking

• Mega Bank
• Tree plantation in Lalitpur with Rotary Club of Jawalakhel Manjushree to maintain the greenery of the area.
• Promoting cleanliness and distributing dustbins to Rajarshi Janak University at Janakpur.

• Standard Chartered Bank Nepal
• As part of its sustainability program "Futuremakers by Standard Chartered," contributed Rs 3.72 million to Maiti Nepal.

References

[1]  CSR Rules in Nepal

[2] Dhristi Maharjan, Corporate Social Responsibility (CSR): Scenario & Implications in Nepal 

[3]  Krishna Kumar Shah, CORPORATE SOCIAL RESPONSIBILITY IN NEPAL 

[4] CSR Initiatives of Some Companies in Nepal 

[5] https://megabanknepal.com/csr-activity-2076-77