New Delhi, Feb 16 : You are all well aware of what CSR (Corporate Social Responsibility) means, but is it truly fulfilling the purpose for which it was initiated? Is CSR genuinely achieving its objectives? The answer to this is quite mixed !
From a corporate perspective, they believe they are contributing to the nation’s development through CSR and supporting the government’s vision of a विकसित भारत . However, if we look at ground reports, some corporations have treated CSR as an opportunity – turning it into a means to serve their personal interests.
What does the National CSR Data Portal say?
The National Corporate Social Responsibility Data Portal is an initiative by Ministry of Corporate Affairs, Government of India to establish a platform to disseminate Corporate Social Responsibility related data and information filed by the companies registered with it.
The Corporate Social Responsibility concept in India is governed by Section 135 of the Companies Act, 2013 (‘Act’), Schedule VII of the Act and Companies (CSR Policy) Rules, 2014 wherein the criteria has been provided for assessing the CSR eligibility of a company, Implementation and Reporting of their CSR Policies. India having the most elaborated CSR mechanism and implementation strategy has started its journey to set a benchmark in attaining sustainability goals and stakeholder activism in nation building.
The CSR ambit is getting bigger and for upcoming years it would turn as a unique knowledge base for analyzing and achieving sustainability goals as among various large economies. India is a country which has assured by mandating CSR through its legislative action.
Definition of CSR.
CSR stands for Corporate Social Responsibility. It refers to the ethical responsibility of companies to contribute positively to society and the environment. This can include activities like:
– Supporting community development and welfare.
– Ensuring sustainable and environmentally friendly business practices.
– Promoting education, health, and social equity.
– Engaging in ethical labor practices.
Companies often implement CSR initiatives to enhance their public image, fulfill legal obligations, and positively impact the communities they operate in.
Some corporations have completely redefined the meaning of CSR!
CSR stands for Corporate Social Irresponsibility. It refers to the unethical behavior of companies that contribute negatively to society and the environment. This can include activities like:
– Ignoring community development and welfare – Prioritizing profit over local needs.
– Sustainable practices? Nah, let’s see how fast we can deplete the planet’s resources!”
– Undermining education, health, and social equity – Creating barriers or worsening inequality.
– Engaging in exploitative labor practices – Unfair wages, poor working conditions, and no worker rights.
Questionable Moves by Certain Corporations?
Some corporations are engaging in practices under CSR that primarily serve their business interests. Their mandate is to work with local bodies, and while they are doing so, it’s merely for show. The social organizations they collaborate with are neither given the freedom to work independently nor treated with respect. CSR has been turned into a hub of unethical corporate practices. Companies are spending more on employee salaries than on actual CSR initiatives.
Here are some questionable practices:
– Hiring employees on hefty salaries using CSR funds.
– Utilizing CSR funds for promoting and marketing their own companies.
– Spending CSR money on extravagant entertainment events.
– Using the guise of social programs for lobbying and influence.
– Employing high-salary staff for marketing purposes under the pretext of CSR.
– Building brand value for the company instead of investing in genuine social work.
– Even attempting to manage media narratives using CSR funds.
We will soon publish a complete list of such corporations and their exploits. If you also have any information or evidence about companies misusing CSR funds, please send it to us at this email ID – [email protected]. Any information you share will be kept completely confidential.
