Donation to sustainability sees 31% increase on a YoY basis, as per EdelGive Hurun India Philanthropy List 2023
Environment and sustainability were at the fourth place with 9% donations. Automobile and auto components as a sector cumulatively spent Rs 477 crore in FY23.
Donations towards the environment and sustainability have increased by 31%, reaching Rs 143 crore, as compared to the previous year, according to the Edelgive Hurun India Philanthropy List 2023.
Nithin and Nikhil Kamath of Zerodha were the highest donors in this category, with donation of Rs 110 crore.
Hurun India and EdelGive today released the EdelGive Hurun India Philanthropy List 2023, marking their 10th year of the same.
The report showed that education remained the top philanthropic cause, with 16% of donations, followed by healthcare (15%) and environment and sustainability at fourth place with 9% of donations, underscoring the importance of the environmental causes that India Inc. is collectively undertaking.
Corporate social responsibility is slated to play a pivotal role in India's journey towards meeting the sustainable development goals (SDGs) by 2030, and attaining net zero emissions by 2070. "The focus on sustainability is a cause that gained significant momentum last year," said Anas Rahman Junaid, MD and Chief Researcher, Hurun India. .
"The aim is to track parameters such as funding value, causes such as climate change, ecosystem building, and so on," said Junaid.
"This year is a record year for big philanthropy. In the past five years, the number of donors contributing over Rs 100 crore has surged from 2 to 14, and those donating more than Rs 50 crore has risen from 5 to 24," he said.
The EdelGive Hurun India list captures the essence of modern India's giving culture through the perspectives of these philanthropists.
The flagship of the Hinduja Group, Ashok Leyland is among the top 10 companies that exceeded the mandatory 2% CSR commitment in FY23. Of the individuals that donated between Rs 50-100 crore, Anand Mahindra and family and Sanvij Goenka and family are among the top 10 on the list.
Automobile and auto components as a sector cumulatively spent Rs 477 crore in FY23.
Shiv Nadar and family have emerged as the leading philanthropists on the EdelGive Hurun India Philanthropy List 2023, making a donation of Rs 2,042 crore, which amounts to Rs 6 crore per day, as per calculations by Hurun India.
Azim Premji and family come in the second spot with Rs 1,773 crore, marking a 267% increase year on year, attributed to a 400% rise in dividend payouts by Wipro in FY 2023.
Mukesh Ambani and family comes third with a donation of Rs 376 crore, with the Kumar Mangalam Birla family securing the fourth position with a donation of Rs 287 crore.
The Bajaj family secured the sixth position, with a donation of Rs 264 crore.
Rohini Nilekan topped the list of India's most generous women with Rs 170 crore.
"Collaborative philanthropy is the way ahead, to enable faster, bigger, and better things," said Naghma Mulla, CEO, EdelGive Foundation. "Wealth has a lot of power to do good. We hope that this enables more good to happen in India", she signed off.
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