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| Corporate Social Responsibility |
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| CSR AT MCX |
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At MCX, CSR activities are viewed as ‘opportunities’. The potential opportunities that arise from CSR activities improve the welfare of the communities nurtured by us, while adding value to MCX’s business interests. This critical function goes beyond mere philanthropy, and promotes inclusion, the major plank of MCX’s business philosophy.
CSR has three focus areas: employees-based activities, environmental initiatives, and community initiatives.
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Employees-Based Activities |
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| An internal employee empowered CSR committee works on a year-long plan that focuses on involving employees in a meaningful manner. Employee engagement programmes offer a platform to the employees, which help their transition from being well-wishers to good samaritans. As facilitators, CSR connects employees to causes that are close to their hearts. These activities include: |
- Khushi Ki Kiran – Platform that enables employees to use their skills to support NGOs
- Donating an identified amount from their salaries every month to NGO(s) of their choice
- Donation drives
- Blood donation
- Drives to collect clothes, stationery, books, etc.
- Relief and rehabilitation
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Environmental Initiatives |
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MCX is conscious and sensitive to the environmental issues, and to make our business environment friendly, we are governed by an Environmental Policy. Efforts have been taken to reduce energy usage, wastage and adopting safe recycling mechanisms. We have been persistently spreading awareness on environment conservation practices through posters and mailers.
Given the nature of operations at MCX, the key sources of environmental impacts include energy and water consumption, waste generated and employee travel. As an ISO 14001:2004 certified organisation, MCX conducts an annual “Environment Review” to assess the impact of its activities on the environment, and is committed towards minimising it through efficient use of natural resources, including electricity, which is the key touch point of the Exchange’s technology-driven business. The MCX Environment Management Plan is developed and monitored on this basis. As a result of its environment initiatives, the company has been able to reduce energy and water consumption, as well as indirect GHG emissions.
Key factors in this achievement include its state-of-the-art facilities for energy conservation in the office building, green data centre, efficiency in business operations and enhanced employee awareness. There is regular internal communication about energy, electricity and water conservation. Majority of the hazardous waste disposed from its premises is e-waste, which is responsibly disposed through authorised recycling partners, Eco-Reco and Attero. The e-waste disposal is in turn minimised through best practices in maintenance and re-use.
MCX also maintains a Green Exchange website as a platform to share green tips, news as part of its commitment to contribute towards a sustainable economy.
Read more on Environmental Responsibility at our Sustainability microsite |
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Communitiy Initiatives |
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| MCX believes in achieving inclusive growth and facilitating social change. The primary objective of our community initiatives is to demonstrate the utility of commodity futures market to the marginalised players in the commodities ecosystem by creating sustainable and viable models. Our key community initiatives include |
- Awareness and Capacity Building
Our financial and market literacy initiatives aim to create awareness among existing and potential market participants and investors on market mechanisms, enabling them to take informed decisions. The format of these initiatives ranges from product leaflets, factsheets to presentation and discussions.
Our awareness programmes are customised depending on the target audience. For example, the focus for members and investors would be on trading aspects, rules and bye-laws of the exchange, clearing and settlement functions related to their trading activities; while for hedgers and potential hedgers, it would also cover the benefits of managing their risk in an organized way. We also share their queries and feedback with the regulator.
- MCX-FMC Price Dissemination Project
To reduce the information asymmetry and spread awareness on futures price information, especially in remote locations of the country, MCX in partnership with Forward Market Commission and other commodity exchanges initiated the Price Dissemination Project (PDP). The project displays spot and futures price on a ticker boards installed at a centrally located place in APMC mandis (markets).
- Gramin Suvidha Kendra
Our social inclusion project, Gramin Suvidha Kendra, uses our expertise and India Post’s infrastructure, to make farmers a part of the modern commodity market infrastructure. The aim of this project is to enhance farmers’ value realisation from agricultural activities. The services offered by Gramin Suvidha Kendra include
- Dissemination of spot and futures prices of agricultural commodities grown in the area
- Quality agricultural inputs and extension services by our partners
- Local need-based non-agricultural products such as rural water purifiers and solar lanterns.
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Cairn India and Bayer CropScience partner Gramin Suvidha Kendra in running the centres in the states of Gujarat & Karnataka, respectively.
To read more about programme coverage, visit http://gsk.mcxindia.com and/ or our sustainability microsite http://sustainability.mcxindia.com/community-dev.html
MCX runs its community initiatives just the way it runs its business – professionally, by mapping the progress, sharing the best practices applied globally, and measuring and monitoring their effectiveness. |
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