Only 8.4% of CSR spent on environment in FY 2023-24: Report

A report by Sattva Consulting found that only 8.4% of the total corporate social responsibility (CSR) spending in India was allocated to environmental initiatives in the financial year 2023-24.

The report, titled 'A Decade of Green Spending: What Rs 17,000 Crores of Environmental CSR Reveals About Corporate India,' highlighted that among India's 50 most climate-vulnerable districts, only 1% of the total environmental CSR spending was directed over the past three years.

The analysis also revealed that sectors with large environmental footprints, such as energy, mining, and oil, gas, coal, and petroleum, show relatively low participation in environmental CSR.

In contrast, consumer-facing sectors like FMCG and automotive allocate a higher percentage of their CSR budgets to environmental themes.

High-value environmental CSR projects in FY 2023-24 focused on water management (15%), renewable energy (12%), and biodiversity (11%), accounting for 38% of all high-value project funding.

However, air quality received only Rs 14 crore, around 5% of the high-value project pool.