1. Introduction: Milestone Furniture Limited (hereafter referred to as “the Company”) recognizes the significance of Corporate Social Responsibility (CSR) in contributing to the sustainable development and well-being of the communities in which we operate. As a publicly traded listed company, the Company is committed to fulfilling its social, environmental, and ethical responsibilities in alignment with all applicable laws, regulations, and guidelines, including those relating to CSR.
2. Scope: This Corporate Social Responsibility Policy covers all CSR initiatives undertaken by the Company and applies to our operations, subsidiaries, and affiliates within the jurisdictions we operate.
3. Key Areas of Focus: The Company’s CSR initiatives shall primarily focus on the following key areas:
a. Community Development: The Company will actively engage in activities that enhance the social, economic, and educational development of communities in the vicinity of our operations. We aim to identify and support initiatives that create a positive impact on local communities.
b. Education and Skill Development: The Company recognizes the value of education and will contribute to promoting access to quality education and skill development programs that empower individuals and promote lifelong learning.
c. Health and Well-being: We will support initiatives that improve healthcare infrastructure, access to medical facilities, and promote preventive health measures in the communities where we operate.
d. Environmental Sustainability: The Company acknowledges its responsibility to minimize its environmental footprint. We will strive to implement environmentally sustainable practices, conserve resources, and actively participate in initiatives that promote environmental preservation and conservation.
e. Inclusive Growth: The Company is committed to promoting inclusive growth and supporting marginalized and vulnerable sections of society to ensure they have equal access to opportunities and resources.
4. Implementation and Governance: a. CSR Committee: The Company will constitute a CSR Committee, as per the requirements of applicable laws and regulations, responsible for formulating and overseeing the CSR strategy, policy implementation, and monitoring the impact of CSR initiatives.
b. Budget Allocation: The Company shall allocate a budget for CSR activities, equivalent to the percentage of net profits as prescribed by the relevant laws.
c. Project Selection and Evaluation: CSR initiatives shall be chosen based on their potential positive impact, alignment with the Company’s values, and the needs of the communities we serve. The Company will assess the effectiveness and impact of these initiatives periodically.
d. Partnerships: The Company may collaborate with non-governmental organizations (NGOs), educational institutions, and other stakeholders to effectively implement CSR projects and maximize positive outcomes.
5. Reporting and Transparency: The Company will provide regular and transparent reporting on its CSR initiatives as required by the relevant laws and regulations. These reports will be made publicly available through our website and other communication channels.
6. Compliance: The Company will comply with all applicable laws and regulations related to CSR and maintain adherence to the principles of good corporate governance.
Conclusion: Milestone Furniture Limited remains committed to fulfilling its Corporate Social Responsibility with integrity, compassion, and a focus on making a positive difference in society. By integrating CSR into our business practices, we strive to contribute to the holistic well-being and sustainable development of the communities we serve.