When I think about Corporate Social Responsibility, the first few things come to mind are – the initiative beyond philanthropy, corporate accountability, sustainability, responsible business, and creating a shared value. Corporate Social Responsibility is completely different from social service.
According to the Ministry of Corporate Affairs, where only a company having a net worth of rupees five hundred crore or more, or turnover of rupees one thousand crore or more or a net profit of rupees five crore or more during a financial year shall constitute a CSR committee.
Why doesn’t every company which is making a good profit should opt voluntarily to pay back to society and environment and work towards minimizing the damage caused by their nature of operations?
For how long the corporate will get away with their blunders in the name of corporate social responsibility.
As a citizen of India, we sought to understand whether the corporate will be held responsible for polluting water caused by effluents released by industries. Where the lands are being acquired in the name of industrialization against peoples wish. A huge contradiction between the base level gram-panchayat and higher level governance bypassing the resolutions.
CSR was conceived as an instrument for integrating social, environmental and human development concerns in the entire value chain of corporate business.
The foremost aim of CSR is to make corporate society – sensitive, to curb the ill-practices, damage control from the harmful practices and not just social service and indirect branding.
Inspite of Mandating the practise by the government there is a lack of equipped workforce, with no proper knowledge and skill set.
On the other hand, there is a lot of money churning involved, estimated around forty five hundred crore rupees every year.
There has to be adequate steps towards the betterment of the society under CSR where the money is actually invested in a proper way and not just flourishing the NGO business.
We need to be educated, we need to be skilled to bring a change through CSR.