Corporate Social Responsibility
India – being as diverse as it is – in one side is one of the biggest economies in the world and on the other side have one of the largest poverty stricken populations on earth. This paradox ascertains the fact that benefits of growth has been uneven and that triggers developmental disparity. Such contradictions are not just limited to poverty or malnutrition but a whole lot of triggered environmental imbalance and related consequences reaching up to unsustainability. Social Responsibility of Corporates is broadly to step into that gap and set the balance towards a more sustainable and inclusive development.
According to the United Nations Industrial Development Organization (UNIDO), “Corporate social responsibility is a management concept whereby companies integrate social and environmental concerns in their business operations and interactions with their stakeholders. CSR is generally understood as being the way through which a company achieves a balance of economic, environmental and social imperatives (Triple-Bottom-Line Approach), while at the same time addressing the expectations of shareholders and stakeholders. In this sense it is important to draw a distinction between CSR, which can be a strategic business management concept, and charity, sponsorships or philanthropy. Even though the latter can also make a valuable contribution to poverty reduction, will directly enhance the reputation of a company and strengthen its brand, the concept of CSR clearly goes beyond that.”
Nature Environment & Wildlife Society (NEWS) has a track record of activities undertaken as project based contributing towards the following items as stated in Schedule VII of Companies Act, 2013 for Corporate Social Responsibility:-