Thermax believes that corporate organisations should think beyond profit and look out for the wellbeing of society. Guided by the vision of its founder Chairman, Rohinton Aga - 'profit is not just a set of figure but of values' - Thermax has over the years worked on a modest CSR agenda. The company tries to fulfil its obligations to a wider circle of stakeholders including communities in which it operates.
The CSR programme of the company got a formal structure and a governing body when the Thermax Social Initiative Foundation (TSIF) was formed in March 2007 as a not-for-profit body registered under Section 25 of the Companies Act 1956 (or under Section 8 of the Companies Act 2013). Convinced that education is the best enabler for a better life, the Foundation has decided to primarily focus on initiatives in this crucial area.
Thermax, as a part of its social obligation, is committed to:
- Provide quality education to underprivileged children.
- Create an environment that respects communities and the natural environment.
- As a signatory to CII's initiative on affirmative action, work to achieve defined objectives.
- Involve and encourage employees and their families to participate in various social initiatives of the company.
In 2012, the Thermax Board decided to increase its contribution from 1% to 3% of its profit for various CSR initiatives implemented through its CSR arm, TSIF.
Says Anu Aga, Director and former Chairperson, “I would like our company to play a bigger role in community affairs with complete adherence to the tenets of good corporate governance. We will actively commit ourselves to initiatives that can help improve the quality of life of the communities in which we live and work.”