becoming a preferred financial inclusion entity. In FY 2023, Arohan introduced a robust E&S Policy, affirming its commitment to integrating E&S considerations into its operations. This policy adheres to international industry practices, national environment, and social laws and regulations. In FY 2024, significant progress has been made in the realm of ESG (Environmental, Social, and Governance), with Arohan integrating ESG principles into its core business practices. Initiatives include the incorporation of an ESG exclusion list in loan applications, conducting ESG Gap Assessments, and identifying material topics to mitigate ESG risks. The Company has also undertaken efforts to raise awareness of ESG among its employees, with a commitment to extending this awareness to all employees across locations. Through robust Governance and Corporate Social Responsibility activities, Arohan has embarked on initiatives addressing social development aligned with government priorities. These efforts focus on supporting and empowering women in communities with limited access to quality healthcare, education, water, and sanitation. Arohan’s dedicated initiatives have positively impacted over 8 Lakh lives to date. Environmental Initiatives • Eco sustainability (Safe Drinking Water & Sanitation): Arohan embraces a triple-bottomline approach, emphasizing People, Planet, and Profit, as the foundation of its sustainability efforts within the communities it serves. The Company’s integrated water and sanitation programme addresses gaps in implementation and strategic management in the Water, Sanitation, and Hygiene sectors, ensuring investment effectiveness, linking revenue returns to social benefits, and fostering collaborative partnerships. • Water Conservation: Arohan endeavors to enhance agricultural productivity for its customers while championing the conservation of natural resources. The Company invests in water conservation projects to bolster agricultural production in rain-fed and semi-arid regions. These interventions focus on improving soil and vegetation management in these areas. • Disaster Relief: Given the prevalence of natural calamities like floods and cyclones in the regions where Arohan operates, disaster relief is a key focus area of its Corporate Social Responsibility commitment. Arohan provides aid and support to affected communities through supply distribution, volunteer engagement, and resource mobilization efforts. These initiatives underscore the Company’s dedication to community safety and well-being. Arohan implements preventive and preparedness measures in alignment with its Business Continuity Policy. Collaborating with local communities, the Company develops emergency response plans to mitigate the impact of disasters. In addition to immediate relief efforts, Arohan supports longterm recovery and rebuilding initiatives through various community development projects. Demonstrating its commitment to the welfare of beneficiaries, especially during crises, Arohan and its employees have provided disaster relief materials to over 49,000 individuals affected by floods and cyclones. Social Initiatives Arohan is on a continuous quest to identify opportunities of impact, address social issues, and promote positive change in the lives of the customers it serves and communities it caters to. In FY 2024, as a part of its social responsibility commitments, Arohan undertook the following initiatives: 1. Education and Child Development • Digital Literacy Programme: Arohan has tied up with IGT Plus Consultants, a Kolkata based Education Organisation which works for low cost schools. IGT has developed an educational app for class VI – IX students of Bengali Medium schools. The app is in the regional language focusing on different chapters of Bengali Medium school curriculum. The app called E-Capsule has been installed in mobile phones of parents, free of cost, from where the students can login to the app and access the chapters, this is the pilot project which has been implemented with 100 students this year. • STEM Mini Science Centres: Management Discussion & Analysis Annual Report 2023-24 | 70
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