Indian Renewable Energy Development Agency (IREDA) has launched a Corporate Social Responsibility (CSR) portal for enhancing transparency in its CSR initiatives. The portal will facilitate transparency in receipt and disposal of CSR requests from various organisations and institutions. 

What is CSR?

The concept of Corporate Social Responsibility (CSR) is generally understood to mean that corporations have a degree of responsibility not only for the economic consequences of their activities, but also for the social and environmental implications. It is a continuing commitment by business to perform ethically and contribute to economic development while sustainable growth for the society at large. CSR extends beyond philanthropic activity and entails the company to act beyond statutory requirements and to integrate social, environmental, and ethical concerns into the company’s vision and mission.

What is the purpose of IREDA?

• Indian Renewable Energy Development Agency Limited (IREDA) is a Miniratna (Category-I) government of India Enterprise under the administrative control of the ministry of new and renewable energy (MNRE). 

• IREDA is a public limited government company established as a non-banking financial institution in 1987 engaged in promoting, developing and extending financial assistance for setting up projects relating to new and renewable sources of energy, energy efficiency and conservation.

• Since its inception, the company has played a catalytic role in developing market for financing renewable energy and energy efficiency (EE) projects. 

• IREDA with years of techno-commercial expertise, plays a catalytic role in the RE project financing which gives confidence to the financial institutions/banks to lend in the sector.

• IREDA achieved a historic milestone by disbursing loans of Rs 21,639 crore and sanctioning loans of Rs. 32,587 crore in the financial year 2022-23. This marks the highest annual loan disbursement and sanction in the company’s history.

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