Experts’ Corner

Corporate sustainability has rapidly developed over the years. It is now a critical component of business strategy and management because of the opportunities it has created.-  M.Rajendran The role of a business in society has been a subject of debate for centuries and shall continue to be. Since the growth and development were based on unsustainable means, nature and the environment were badly impacted. It has become not only the reason for environmental degradation but also a cause of social imbalance. Hence, Corporates now acknowledge their obligations to society and nature and make efforts to pursue sustainable development. The realisation that there is a need for higher social equity and justice, which is an outcome of such growth, must be

The Economic Survey 2023-24 has taken stock of Corporate Social Responsibility (CSR) after many years of detailed analysis, and the NDA Government has attempted an outlook in its third term in office. – M.Rajendran The Economic Survey 2023-24 has done a deep dive to understand the CSR approach to welfare. It wishes it to be wholesome and whole-of-society, with increasing private sector participation through Corporate Social Responsibility (CSR). In 2014, spending by companies on social purpose programmes was made mandatory through a new provision under Section 135 of the Companies Act 2013. Before the law was implemented in April 2014, corporate giving was largely voluntary and unregulated, though encouraged by the Ministry of Corporate Affairs. Some of the oldest business

Corporate Social Responsibility (CSR) has grown since it was legally introduced in 2014. Parliament, the country’s policy-making institution, needs to monitor it regularly to achieve the stated objectives. The role of Parliament members in both Houses, Lok Sabha and Rajya Sabha, on the issue of CSR is also critical. The constant monitoring helps the Government, corporate, and PSUs to undertake their responsibility towards society. – M.Rajendran The 21st Report of the Parliamentary Standing Committee on Finance is one of the prime movers for bringing the CSR provisions within the statute. The Standing Committee observed that annual statutory disclosures on CSR required to be made by the companies under the Act would be a sufficient check on non-compliance. Section 135(4) of

Uttar Pradesh realises the power of partnerships and the importance of Corporates / Individuals in achieving our vision for sustainable prosperity for the people of the State, for which Corporate Social Responsibility (CSR) plays a vital role. – M.Rajendran Corporate Social Responsibility (CSR) plays a vital role in the development of society. The State of Uttar Pradesh has understood the importance of CSR in the State’s socio-economic development. In July this year, the Mahakumbh Mela Authority invited government and non-government organisations to “take part” in the Maha Kumbh-2025. It allowed corporations to contribute to the event through corporate social responsibility (CSR) funds to arrange better and provide amenities at the venue. The Maha Kumbh Mela is the largest religious congregation

Mandatory provisions of CSR under section 135 of the Companies Act 2013 became effective on 1st April 2014. The importance of inclusive growth is widely recognized as an essential part of India’s quest for development. The Companies Act 2013 was enacted to promote the economic development and welfare of the country by making it easier for Indian companies to start and operate their businesses. The Act also aims at improving corporate governance in India. Since the Companies Act came into force, it has become the core corporate responsibility of each company to practice its corporate values through its commitment to grow socially and environmentally while meeting the interests of its stakeholders and intending to make a positive difference in society.

India’s approach to Corporate Social Responsibility (CSR) is unique due to its integration with legislative mandates, making it distinct from others globally. The Companies Act of 2013 marked a significant milestone by making CSR activities mandatory for certain categories of companies. Section 135 of the Act requires companies meeting specific financial thresholds to spend at least 2% of their average net profit of the preceding three years on CSR activities. This legislative approach reflects India’s commitment to aligning corporate activities with national developmental goals. Prime Minister Narendra Modi has emphasised the importance of CSR in Indi a’s development agenda. In one of his recent addresses, he stated, “It is our collective responsibility to ensure that the underprivileged are empowered, and

The highly anticipated workshop on “AC CA Playbook Training,” jointly organized by the UN Global Compact Network India (UN GCNI) and PHD Chamber of Commerce and Industry (PHDCCI), concluded successfully today at PHD House, New Delhi. The workshop was held in New Delhi on June 14, 2024. It focused on enhancing participants’ understanding of anti-corruption collective action (AC CA) and promoting a culture of integrity in business environments. Professionals from diverse sectors attended the workshop, which featured comprehensive sessions highlighting key aspects of Anti- Corruption Collective Action (AC CA) initiatives. Participants gained insights into the importance of specialized training in combating corruption, detailed steps and tools provided by the AC CA Playbook, and effective methodologies to mitigate corruption challenges. Mr.

Nidhi Bhasin, CEO of Nasscom Foundation, and Manisha Khosla Sinha, Head of CSR, Brand and Communications at India BNP Paribas, spoke with CSR Times about how timely access to the right skills and opportunities can transform the lives of aspiring youth. They discussed how technology enables young individuals to pursue careers and create their own success stories. Nasscom Foundation in collaboration with BNP Paribas skill 300 empowered marginalized women in emerging technologies Q1. Can you please elucidate the program objective and how it has empowered the marginalized youth? NB : The project aimed at empowering 300 marginalized young women through comprehensive training in emerging technologies. This includes 140 hours of instruction on the latest tech courses, plus an extra 60