H&M RETAIL INDIA CORPORATE SOCIAL RESPONSIBILITY POLICY
I. Corporate Social Responsibility (CSR) Policy
H&M Hennes & Mauritz Retail Private Limited (the ‘Company’) is one of the world’s leading fashion and design company. As a responsible Company, it has since its inception, participated in social activities which help in improving the quality of life of the communities in which it operates. Aligned with its overall sustainability vision, activities will be undertaken to address various needs in the communities in which it operates.
In consultation with the CSR committee, the Company has decided to focus its activities on the following areas, where it is able to create maximum value. These focus areas are:
• Water & Sanitation: India is among the world’s most water stressed regions. Additionally, safe drinking water is a concern in many parts of the country. The Company would focus on raising awareness on water conservation and providing access to water, sanitation and hygiene awareness.
• Education & Environment: Sustainability being at the heart of everything we do, the company would focus on projects and awareness around environment education with special focus on reuse, reduce and recycle. Company will also focus on projects to promote quality education.
• Empowerment & Livelihood: Unemployment is a major issue impacting our society. The Company would focus on livelihood enhancement and empowerment of the youth, women and girls.
The Company will continue to engage with stakeholders including experts, NGOs and the Government and would take up such other CSR activities in line with Government’s intent and which are important for society.
The above areas are mapped with the activities as prescribed in Schedule VII to the Companies Act, 2013.
CSR expenditure will include all expenditure incurred by the Company on CSR Programmes undertaken in accordance with the CSR Plan. Surplus arising out of the CSR projects or programs or activities shall not form part of the business profit of the Company.
II. Implementation of CSR Activities
The Company may also undertake other CSR activities as may be appropriate from time to time.
The Company would implement the CSR programmes through Company personnel and partnerships with expert agencies, NGOs and Government. In cases where the implementation is through external implementing agencies, the Company would monitor the implementation.
The Company follows a structured governance procedure to monitor CSR activities.
The CSR Policy is governed by the Board of Directors. In terms of the Companies Act, 2013 the Board of Directors have constituted the Corporate Governance and Social Responsibility Committee (‘CSR Committee’) to formulate and recommend to the Board of Directors the CSR Policy indicating activities to be undertaken as specified in Schedule VII and the amount of expenditure for the CSR activities. The CSR Committee monitors the CSR Policy of the Company from time to time. The CSR team monitors the status of the projects and reports its findings to the CSR Committee periodically. In addition, CSR Committee members may visit one or more projects, from time to time and report their findings to the board.
The CSR Policy devised pursuant to the Companies Act 2013 has been approved by the Board basis the recommendations of the CSR Committee and shall be placed on the Company’s website www.hm.com.
Amendments from time to time to the CSR Policy, if any, shall be considered by the Board of Directors based on the recommendations of the CSR Committee.