ReNew Power Ltd., established by Chairman and CEO, Sumant Sinha in 2011, is one of India’s largest renewable energy companies. Currently, it operates in several states across the country. ReNew is committed to be a leader in both the Indian renewable energy sector and within the nation’s burgeoning Corporate Social Responsibility (CSR) space. The 2013 Indian Companies Act mandates that Indian corporations of a certain size must spend at least 2% of profits on CSR initiatives. ReNew has embraced this responsibility and seeks to set an example in CSR strategy for India and the world.
A primary CSR focus for ReNew is empowering Indian women and girls in rural communities. Renew has targeted three priority areas to achieve this: education, entrepreneurship and energy access. The Capstone team collaborated with ReNew’s CSR team to identify CSR best practices in women’s empowerment and case studies that are relevant to ReNew’s business operations.
The team conducted extensive research into the design, implementation and evaluation aspects of global CSR programs impacting women’s empowerment. With guidance from ReNew, six case studies and ten best practices were selected with particular relevance to ReNew’s CSR strategy and priority areas. The team designed the case studies to provide a snapshot of the organization and its CSR program and an assessment of its relevance to ReNew. The team built out case studies using publicly available information as a primary source, along with interviews with ReNew representatives and external experts. Final findings and recommendations were presented to ReNew’s CSR team.