India’s leading financial newspaper, The Economic Times and one of the world’s leaders in audit, tax and advisory services, KPMG has together developed the concept of ET 2Good4Good CSR ratings. The ratings will help in recognizing organizations that are making unique contribution in the CSR space and setting benchmarks for the corporate world in terms of their contribution to the national priorities and sustainable development goals.

Participating in ET2Good4Good will have the following benefits for the participants:

• Improved reputation and recognition under Corporate Social Responsibility
• Continued benchmarking and improvement of processes basis independent feedback sessions conducted
• Better market position for the company/organization
• Best in class recognition from an esteemed panel of jury

The ratings for this year are “2 Good”, “4 Good”, ET Aspire 2 Good”, ET Challenger 2 Good and special commendation.

The criteria for providing the rating to companies under the various categories is currently pending with the jury and the final call will be taken by them during the time of evaluation.

While the evaluation is being conducted for financial year 22-23, for certain pillars like impact of the CSR projects, documents/information around the larger impact created of last three financial years would be considered to ensure thorough evaluation.

While we have asked for CSR project specific information under few pillars, the evaluation will be conducted on overall CSR related process and performance of the company.

The first stage of the process is the filling up of a questionnaire by participating organizations. This covers seven different pillars of Governance, Strategy, Stakeholder Engagement, Monitoring & Evaluation, Reporting, Impact, and Innovation.

Subsequently, KPMG, who are the knowledge partners to ET would be conducting multiple levels of evaluations basis the responses received.

The evaluations would be discussed with the jury and the final rating for the participating organizations would be decided in consultation with the jury.

A gala event would be organized where the participating organizations would be invited, and the ratings would be announced.

ET will also give certificates of commendation to other non-winning companies based on their performance in individual pillars vis-a-vis industry standard.

Post the rating phase, the feedback loop is completed with KPMG giving individual scorecards through a one-on-one feedback session virtually on request.

Yes, the company is eligible to participate even though the CSR projects are underway, and completion has not been achieved yet, provided that there is some mechanism in place to track the disbursement and utilization of the funds. The same needs to be shared by the company in the absence of utilization certificates.

The 7 pillars have been formulated through an extensive consultative process with thought leaders, industry experts, and final call was taken by the imminent jury members.

Yes, the fee can be taken out of 2% CSR budget under admin expense