Business Responsibility And Sustainability In India

On the backdrop of the institutionalisation of corporate social responsibility (CSR) and sustainability, and the emergence of multi-stakeholder-driven voluntary regulation, this timely collection places special emphasis on India and explores its international voluntary sustainability standards. The authors analyse the adoption and implementation of voluntary governance initiatives across a range of industries, offering insightful sectoral discussion and evaluation of voluntary sustainability standards as forms of transnational private regulation. This book will be of interest to anyone researching CSR, sustainability and supply chain management in emerging markets.

This short guide offers practical insights for companies or foundations who want to run their business in India in a sustainable way.In this concise, expert guide, Caroline Twigg draws on her experience of setting up the India office for the World Business Council for Sustainable Development. She starts with a brief overview of India's history, culture and relationship with the environment, presents an overview of doing business in India in general, and then covers: policy and regulations that influence sustainability actions in India; how sustainability is interpreted in India and how that may impact a company's engagement; how companies already work on sustainability and what might come in the future; a valuable list of the organizations and resources that will help you deliver on your business and sustainability goals. If you work for an international company based outside of India, if you run a foundation with projects in India, if you have products or services with a sustainability focus and are hoping to expand your business in India, or if you are tasked with communicating your company's sustainability work in India, this book will help you engage with your partners respectfully, effectively and easily.

In India CSR as a mandatory obligation is around five years and the subject area is evolving. The last five years have been a roller coaster ride for many CSR professionals and the journey will continue to be intriguing with an ever-changing landscape. It may take a few more years before we could have seamless processes and systems in place. A good number of development organisations are trying out various ways and means of creating impact with access and availability of CSR grants. It has also seen the emergence of CSR agencies, social enterprises and platforms that will boost and recognise NGO efforts and corporate reputation. These are interesting times indeed! With the emergence of CSR as an important subject in the academia, government and media echelons it is critical that development practitioners and CSR professionals have a philosophical background of the topic. It is also important to understand definitions of various social, economic and political jargons, related institutions and world systems. The book restates and simplifies these from a CSR practitioner’s point of view and captures CSR professional’s journey of understanding the subject area over the years. It also provides few practical approaches to make their role relevant, contextual and prepare for the future. The book also fills the gap of non-availability from a practitioner’s point of view of the CSR subject.

This book examines the Indian mandate for Corporate Social Responsibility (CSR) and its implementations in various individual organizations. Although the mandate is applicable only to certain large and stable companies, many believe that India is poised to become the birthplace of social, economic and environmental transformation, given the immense size of the Indian population and its challenging socio-economic index. The book explores the various facets of CSR investigation and places special emphasis on the Schedule VII of the Indian Companies Act of 2013, which defines specific areas of intervention for these companies. In addition, it provides a wealth of first-hand case studies that exemplify the ongoing developments and the fundamental challenges and opportunities of mandated CSR.

Sustainability of Business in the Context of Environmental Management studies the newly emerged concept of ‘sustainable business’ in view of the growing Indian economy. It explores the current corporate social responsibility practices adopted with special reference to environmental management in Indian companies. The book compares the legal, financial, economic, industrial, and social behavioural aspects. Out of these aspects, industrial aspect in view of ‘environmental management’ is discussed in detail. It also explores the forces driving the changing relationship between business and society and corporate leadership reacting to environmental challenges. Finally, the book restates the concept of increasing profitability through societal development. Please note: This volume is Co-published with The Energy and Resources Institute Press, New Delhi. Taylor & Francis does not sell or distribute the Hardback in India, Pakistan, Nepal, Bhutan, Bangladesh and Sri Lanka

Corporate Social Responsibility: A Study of CSR Practices in Indian Industry takes a close look at the CSR scenario in India. While throwing light on the various issues faced by companies and their stakeholders during the implementation of CSR, it also offers strategies and recommendations for improved synergy among the stakeholders and a more effective CSR. The book is based on the authors’ primary research study and is illustrated with various company examples and primary surveys on how CSR implementation varies from organization to organization, including family-based firms, public sector enterprises, multinational corporations and professional enterprises. Sectoral differences in CSR implementation have also been covered, as well as the important issue of CSR reporting practices. With CSR and sustainability as emerging domains, the book will prove to be invaluable for researchers, academicians, students, practitioners and public policy makers.

This book critically analyzes the role of corporate social responsibility (CSR) in achieving sustainable development in emerging economies. It brings together recent developments, effective frameworks, business models, and strategies adopted by companies and looks at how they contribute to sustainable business growth. The volume discusses diverse themes such as green marketing for promoting sustainable development; digitization and sustainability concerns; communication strategies for CSR; ethical standards in Indian advertising; microfinance as an instrument for achieving sustainable development; the role of CSR in the Skill India initiative; and CSR activities of Indian listed companies. It also provides solutions to challenges in achieving sustainable development goals at local and global levels. Drawing on in-depth case studies, the book will be an essential read for corporate professionals, students, and researchers of CSR, management studies, development studies, business studies, economics, environmental studies, green marketing, and sociology. It will also be relevant for policy makers, NGOs, public and private sector corporations, and consultants in sustainability reporting, business ethics, and sustainable development.

This book provides a comprehensive overview of Corporate Social Responsibility (CSR) in Indian corporations following the 2013 legal mandate on corporate spending of profits for CSR. Bringing together authors hailing from diverse walks of life, the book pursues a 'hands-on' approach, with real-world case studies and examples that help the reader feel the dynamic pulse of India immediately after the ratification of the CSR mandate in the Companies Act, 2013. The Act is expected to affect over 16,300 companies with an estimated flow of approximately 200 billion Indian rupees into the economy every year, thus shaking the foundations of business and society and impacting the country at multiple stakeholder levels. As a result, India is likely to become the birthplace of social, economic, and environmental transformation through financial investments in CSR! In order to insightfully reflect on this transition, this book has been divided into three parts. The first part presents the CSR mandate and its implications, while the second focuses on its implementation and the third part provides a view on the way forward. The book helps to reveal the various layers of CSR in an emerging economy like India and is expected to spark debate, discussion and research among policy-makers, consultants, academics, practitioners and other stakeholders the world over, which will further expand its contribution to CSR literature and open up new vistas in CSR research. "This is indeed a first of its kind book and marks a watershed in the journey of CSR. It is an extremely important contribution to the body of knowledge in the area of CSR and Corporate Governance in emerging economies that is driven by a completely different set of challenges, opportunities and requirements from that of developed economies." Dr. Bhaskar Chatterjee, Director General & CEO, Indian Institute of Corporate Affairs