Corporate Social Responsibility (CSR) is a strategic management driven initiative that integrates our business, environmental and citizenship activities to uphold our values.
In order to foster a culture that emphasizes on CSR, a Social Investment Committee is appointed by the CEO to consider the impact of our businesses, operations and programs from a social responsibility perspective. The Social Investment Committee reviews the distribution of charitable contributions in line with the Company’s policy for donations, charities, and contributions which is set at the Board level.
To us, CSR has four categories: our economic, legal, ethical and philanthropic/discretionary responsibilities to our stakeholders. It enables us to enhance our competitive advantage and create win-win relationships with our stakeholders, in addition to realizing gains from cost and risk reduction, legitimacy and reputation benefits while recognizing the relationship between CSR and financial performance.
Our philanthropic CSR policy allocates between 2% to 5% of our annual profits before tax towards donations for social causes we support. The proportion of allocation generally follows the following pattern:
CSAP Foundation was established with the aim of bringing greater focus, accountability, and transparency to our philanthropic CSR. The Foundation was granted tax exemption from FBR in 2018 and is operative as a non-profit organization. The main objectives of the Foundation are:
The Foundation focuses on improving the social infrastructure by supporting community welfare causes and in giving back to the society. Over the years, CSAP Foundation has made contributions to various community partners in the education, health, environment and societal sectors. We are currently working towards positioning all our social contributions through the Foundation and are hopeful that it will enable us to bring greater focus to our philanthropic CSR and towards the United Nations Sustainable Development Goals (SDGs) in their ambition to achieve a better world for all.
The multidimensional focus of CSAP Foundation ensures that we are able to serve the community by focusing on the immediate needs of our society while aligning them with long-term developmental objectives. For further details please contact us at csap.foundation@crescent.com.pk
The United Nations Sustainable Development Goals (SDGs) provide a shared blueprint for peace and prosperity for people and the planet, now and into the future. We support the United Nations in their ambition to achieve a better world for all.
From the commencement of our operations, our commitment has always been to deliver quality products, efficiently and economically, minimizing the negative impacts of our operations, contributing to the communities where we operate, providing fair and consistent returns to our shareholders and a desirable workplace for our employees where they are assessed and rewarded with fairness.
As a responsible citizen, we map our major contributions to most of the SDGs, with particular focus on SDG 4, 8 and 12.
To foster a culture of giving across the organization and to support causes close to our employee’s hearts, the Crescent Matches program was launched in 2014.
The program is a voluntary scheme through which employees are able to make regular or one-off payments directly from their monthly pay to eligible organizations of their choice. The program is geared towards capturing and multiplying the impact of employee giving.
Crescent Cares Week was launched back in 2014 with an intention to instill value and care for the community within our employees by engaging them in various community care initiatives.
This program provides a platform to Crescent Steel employees to come together and participate in various activities which are organized in collaboration with our community partners.
The Scholarship Program was launched in 2013 to contribute towards our mission of an educated Pakistan. The program was initiated with the aim of providing children of our employees with merit and need based scholarships to support their tertiary and intermediate level education. Through the CSAP Foundation, we also offer scholarships to candidates with exceptional academic and community performance to top-tier degree programs abroad.
The car and motorcycle scheme was launched with the objective of making commute easier for our employees and enables them to have access to a range of mobility solutions for everyday commute.
