LeasePlan's CSR Policy
Version 1.5 **
Background** While LeasePlan India strives to create benchmarks in the vehicle leasing and fleet management industry, it also endeavours to drive business behaviors that not only deliver commercial objectives and meet legal requirements, but also have positive social impact. CSR for LeasePlan India means embodying our core value of RESPECT – and being responsible towards people and planet by delivering sustainable value. The company feels strongly about environmental issues, health and safety of its drivers and a better quality of life for the community members, especially our future – the children.
**Governing Framework **Our CSR committee comprises of the Board of Directors:
- Managing Director
- Finance Director
- Commercial Director
The CSR committee shall at the minimum perform the following functions:
- Formulate, monitor and recommend changes to this CSR Policy.
- Recommend the amount of expenditure to be incurred on each activity.
- Review policy on an annual basis.
The committee shall hold its meetings as and when required with the presence of at least two of its members. It shall be the responsibility of LeasePlan India Communications team to assist in implementing this policy in accordance with the CSR activities and budgets approved by this committee. Further, the Communications team shall assist in apprising the CSR Committee of the status of implementation of the policy at every meeting of the Board.
LeasePlan India’s Accounts Payable team will prepare a summary of statement of the amount spent during the period which shall be shared by the Communications team with the Board. The company shall allocate an amount equivalent to 2% of the average net profits of the company made during the three immediately preceding financial years, towards CSR budget which is spent in accordance to this Policy.
**Initiatives under our CSR Programme: **The CSR programme focuses on:
- Environmental Conservation
- Community initiatives around children welfare
- Other CSR Activities (adopted on a case-to-case basis and implemented post CSR Committee’s approval
**Environmental Conservation Projects
**We believe that companies can, and should, play a vital role in the reduction of carbon emissions and other greenhouse effects. Besides creating awareness, we aspire to take tangible steps to contribute to the environmental sustainability. We aim to achieve the following objectives:
- Raise awareness about the harmful effects of vehicle emission
- Develop better fleet management practices and proactively advise customers to opt for fuel-efficient vehicles
- Driver safety
- Tree Plantations with active involvement of LeasePlan employees
- Employee engagement through volunteer programmes
**LeasePlan India supports welfare projects and initiatives for children from economically weaker sections. These projects include providing aid for education, healthcare, study material, uniforms, mid-day meals or school infrastructure. Aims and Objectives of the programme are to:
- Help children realise a better future through education
- Help NGO/s raise funds for fulfilling the programme objectives
- Employee engagement through volunteer programmes
**LeasePlan India’s CSR Partner & Project Monitoring
**In order to achieve its CSR objectives, LeasePlan India has identified Advit Foundation, a registered trust which helps in tree plantation projects, other environmental initiatives and community initiatives. LeasePlan India will invite annual budget proposal from the empaneled NGO/s and help them bridge fund gap by sponsoring some of the key expense heads in case of Community Initiatives (viz. study material, procurement of uniforms, sponsoring of health-check campaigns, etc; and help with financial aid required in case of plantation projects.The implementation agency (Advit Foundation) will submit quarterly reports on the project progress to LeasePlan India Communications Team.
The Communications Team and staff members will visit the project sites from time to time to review progress and outcome. **
Other CSR Activities
**Budgets for special campaigns shall be approved by the CSR Committee, provided the campaign activities fall under Schedule VII of the Companies Act, 2013.
**CSR Budget/Corpus shall comprise of 2% of the average net profits (as mentioned under the Governing Framework), any income arising therefrom and any surplus arising out of CSR activities.It is clarified that any surplus arising out of the CSR activity shall not be part of business profits of LeasePlan India.
LPIN shall maintain appropriate accounting records to comply locally for all contributions (i.e. contributions from LPIN as company and contributions from LeasePlan Corporation and LeasePlan India Employees as "Others").
Contributions from the Company shall be expensed (P&L charge) in books of the Company and Other's contributions are not expansible in the company books, however maintained in the balance sheet with appropriate documentary evidences for collections and expenditure against the contributions.
Nature of expenditure (uniform, study material, plantation of trees, etc.) under the scope for CSR activities as whole shall be maintained and reported.