Communication on Progress

Participant
Published
  • 2017/10/20
Time period
  • November 2017  –  November 2019
Format
  • Stand alone document – Basic COP Template
Differentiation Level
  • This COP places the participant on the Global Compact Learner Platform
  • Missing items have been flagged in the self-assessment
Self-assessment
  • Includes a CEO statement of continued support for the UN Global Compact and its ten principles
  • Description of actions or relevant policies related to Human Rights
  • Description of actions or relevant policies related to Labour
  • Description of actions or relevant policies related to Environment
  • Description of actions or relevant policies related to Anti-Corruption
  • Includes a measurement of outcomes
 
  • Statement of continued support by the Chief Executive Officer
  • Statement of the company's chief executive (CEO or equivalent) expressing continued support for the Global Compact and renewing the company's ongoing commitment to the initiative and its principles.

  • No answer provided.
Human Rights
  • Assessment, policy and goals
  • Description of the relevance of human rights for the company (i.e. human rights risk-assessment). Description of policies, public commitments and company goals on Human Rights.

  • PFC benchmarks its practices with the best practices being followed by other Corporates in the world. These policies protect the right of the employees and provide them with the freedom to nurture the spirit of each person in order to create harmony at workplace and society. The Corporation enjoys a cordial relationship with its employees. The Corporation also protects human rights of the people which may be affected by the projects funded by PFC.

  • Implementation
  • Description of concrete actions to implement Human Rights policies, address Human Rights risks and respond to Human Rights violations.

  • In the project appraisal guidelines, PFC has ensured for submission of Environment Impact Assessment Report (EIA) from power entities with details of plans for Project Affected People (PAP) and Rehabilitation and Resettlement for them.Based on the rehabilitation and resettlement plan, Environmental clearance is being provided to the power entity.

    For the employees of the Corporation, Economic Rehabilitation Scheme is in place which provides monetary benefit and support to an employee in case of his Permanent Total Disablement, and to his family in case of his death, provided the Permanent Total Disablement / death, as the case may be, takes place while the employee is in service of the Corporation.

  • Measurement of outcomes
  • Description of how the company monitors and evaluates performance.

  • PFC appoints a Lender’s engineer to ensure the validity of clearances till the project sanction terms is valid. This lender’s engineer verifies the status of Rehabilitation and Resettlement plan and submits a report to the concerned Ministry.

    We have Grievance redressal mechanism in place to provide an easily accessible machinery for settlement of grievances and to adopt measures in PFC as would ensure expeditious settlement of grievances of employees within the framework of the company’s rules and procedures in force from time to time.

Labour
  • Assessment, policy and goals
  • Description of the relevance of labour rights for the company (i.e. labour rights-related risks and opportunities). Description of written policies, public commitments and company goals on labour rights.

  • PFC adheres to various laws passed by the Government of India to protect the interest of the working class. The Corporation does not support or have any form of forced or compulsory labour.

    Employees of the Corporation are free to form and join Unions or Associations. These bodies provide a platform for collective bargaining and protecting the rights of the employees. We also organize formal meetings with the organizations

  • Implementation
  • Description of concrete actions taken by the company to implement labour policies, address labour risks and respond to labour violations.

  • As per the recruitment policy of the Corporation, the age of the person at the time of appointment shall not be less than 18 years.

    The Corporation has uniform policies for all its employees. No discrimination is being made on the basis of sex, caste, religion, etc.

  • Measurement of outcomes
  • Description of how the company monitors and evaluates performance.

  • As on October 2017, 19.4 % among the executives and 32.17 % among the non-executives are female employees which come out to be 20% of the total workforce.

    Muslim Christian Jain Sikh Buddhist Hindu
    13 10 13 15 01 450

    General OBC PWD SC ST
    291 83 13 86 29

Environment
  • Assessment, policy and goals
  • Description of the relevance of environmental protection for the company (i.e. environmental risks and opportunities). Description of policies, public commitments and company goals on environmental protection.

  • As PFC is providing a large range of Financial Products and Services for various Power projects in Generation, Transmission, Distribution sector as well as for Renovation & Modernisation of existing power projects, it makes sure to provide financial assistance only to the projects which have received environment clearance from the State/Central Govt.

  • Implementation
  • Description of concrete actions to implement environmental policies, address environmental risks and respond to environmental incidents.

  • PFC as a part of green energy initiative is also finance to Non conventional power projects.

  • Measurement of outcomes
  • Description of how the company monitors and evaluates environmental performance.

  • Company has also implemented Corporate Social Responsibility Policy w.e.f. FY 2010-11 which focuses on providing support for environmental up-gradation and energy conservation.
    During FY 2016-17, the Corporation has taken up several CSR initiatives keeping a special focus on environmental sustainability and energy efficient technologies. Some of the key projects are as follows:
    1. Financial Assistance for the Project for installation and Commissioning of LED based Solar Street Lighting System in the unrectified and backward villages of following regions:

    o Pilibhit – Uttar Pradesh – 500 nos. of SLSs installed and commissioned at a cost of Rs. 1.27 crore
    o Giridih – Jharkhand – 544 nos. of SLSs installed and commissioned at a cost of Rs. 1.18 crore
    o Sarawasti – Uttar Pradesh – 500 nos. of SLSs installed and commissioned at a cost of Rs. 1.12 crore
    o Badohi – Uttar Pradesh – 500 nos. of SLSs installed and commissioned at a cost of Rs. 1.09 crore
    o Deoria – Uttar Pradesh – 220 nos. of SLSs and 75 nos. of Solar Hi Mast lights installed and commissioned at a cost of Rs. 2.20 crore

    In the above regions, backward and electrified villages/locations were identified and accordingly lighting provision was given using Energy efficient LED technology which is an environmental friendly solution for the lighting needs of the villages. The projects have been successfully completed and handed over to the respective Gram Panchayats.

    2. Financial Assistance to the Project for Plantation across the National Highway (NH -7) in Nagpur Region through National Highways Authority of India (NHAI)
    As an another initiative towards Environmental sustainability, PFC stepped ahead with the project for undertaking plantation activity across the selected phase of National Highway no. 7 located in Nagpur, Maharashtra. The proposed way has been facing mosto of the issues related to emission of carbon monoxide gases and other environmental affecting emissions from the vehicles passing through.
    Planation activity has been initiated with a project cost of Rs. 24 crore.
    3. Project for Skill Development Trainings to SC/ST/OBC/PwD/Women/EWS of Society across the country:
    Skill development is one of the most important tools in developing requisite skills among un-employed youth belonging to SC/ST/OBC/Persons With Disability (PWD)/Women/EWS to help them avail opportunities through wage or self-employment for enhancing their income levels.
    Moreover, Government of India launched the ‘Skill India’ initiative on 16 July 2015 with an aim to train over 40 crore people in India in different skills by 2022. The initiatives include National Skill Development Mission, National Policy for Skill Development and Entrepreneurship 2015, PradhanMantriKaushalVikasYojana (PMKVY) scheme and the Skill Loan scheme.
    In view of that, PFC had undertaken the projects top train the unemployed and underprivileged youth mobilized from different parts of the country.
    Training has been offered to them in various trades including environmental friendly technologies such as Solar technologies.
    o L&T Engineering – 3000 persons with a cost of Rs. 9.30 crore
    o IGIAT – 900 persons with a cost of Rs. 2.25 crore
    o APSSDC – 2550 persons with a cost of Rs. 5 crore etc.,
    The projects undertaken as CSR initiatives shall be monitored as per any of the following mechanisms:-
    i) Internally by the CSR Unit;
    ii) Deploying Teams specifically identified for the projects;
    iii) Deploying an external independent agency identified by the CSR Committee.
    The Monitoring Report shall be submitted to the CSR Committee before release of payment as per conditions as laid down in the MoA.
    The progress report of the activities undertaken shall be reported to the various stake holders on a regular basis as under:
    a) BoD on a Quarterly basis;
    b) Ministry of Power in the Quarterly Review Meetings;
    c) Annual Report.
    The information on the activities undertaken by the Corporation on CSR shall also be regularly updated on the Corporation’s website for public use.

Anti-Corruption
  • Assessment, policy and goals
  • Description of the relevance of anti-corruption for the company (i.e. anti-corruption risk-assessment). Description of policies, public commitments and company goals on anti-corruption.

  • The Corporation has introduced Anti-Fraud Policy. This policy applies to any fraud or suspected fraud in the Corporation, involving employees (including contractual employees) as well as shareholders, consultants, vendors, suppliers, service providers, contractors, lenders, borrowers, outside agencies and / or any other parties with a business relationship with the Corporation. This policy helps in promotion of consistent legal and ethical organizational behavior by assigning responsibility for the development of controls, providing guidelines for reporting and conduct of investigations of suspected fraudulent behavior.

  • Implementation
  • Description of concrete actions to implement anti-corruption policies, address anti-corruption risks and respond to incidents.

  • Under the policy, a Nodal Officer has been appointed for the purpose of co-ordination of preliminary investigation.

    Any fraud that is detected or suspected must be reported immediately to the Nodal Officer who will further investigate it as per the laid down procedure.

  • Measurement of outcomes
  • Description of how the company monitors and evaluates anti-corruption performance.

  • A transparent and independent investigation shall be made for ensuring consistent legal and ethical organizational behavior in the Organization.