Corporate Social Responsibility and Sustainable Development - A Study of S BSE 100 Companies (original) (raw)
Related papers
Corporate Social Responsibility and Sustainable Development - A Study of S&P BSE 100 Companies
Gurukul Business Review, 2020
Purpose-This study is an attempt to study the overview of CSR provisions' applicability and trends of S&P BSE 100 Companies. To determine whether there is any significant difference in the actual expenditure on CSR and the expenditure to be done as per the CSR provision of Company Act 2013. Design/methodology/approach-The study is descriptive and cross-sectional study. Descriptive statistics and t-test have been used to analyze the data. Findings-The study found no significant difference in the actual expenditure on CSR and the expenditure to be done as per the CSR provision of the Company Act 2013.The actual amount spent on CSR is increasing and the unspent amount on CSR is decreasing throughout the study. Numbers of companies are increasing which are spending more amount as per the provision. Most of the companies are spending on health care, education, rural development, gender equality, and slum area development, etc., mostly the elements which are used as a tool for sustainable development. Research Limitations/implications-The study is based on the secondary data and considered the S&P BSE 100 Companies only. Practical implications-The study shows that the implications of CSR provision will be fruitful for stakeholders, society and environment as well as for the sustainable development of the Indian economy. Originality-The study has mainly focused on applicability of CSR provision and trends of S&P BSE 100 Companies on the basis of cross-sectional study and tested a descriptive item which shows actual expenditure on CSR and the expenditure to be done as per the CSR provision of the Company Act 2013 a tool for sustainable development.
Purpose: Corporate Social Responsibility (CSR) is a continuing commitment of business towards society for economic development & for improving the quality of life of the workforce & their families as well as of local community. CSR is treated as a vehicle through which companies give something back to the society. This paper is an attempt to explore CSR initiative of selected public & private sector companies in India. Design/Methodology: For this purpose 20companies (10 from public sector & 10 from private sector) are selected from different sectors i.e. Oil & gas, power & electricity, chemicals & fertilizers, heavy electrical & engineering, metals & mining. Data has been collected from websites, annual reports, sustainability reports & Business Responsibility Reports of selected companies. Appropriate statistical tools (Mean, S.D, Rank,T-test etc.) have been used. Findings: The findings of this study provide an insight about the CSRpractices and fund utilisation by selected companies on the basis of parameters given by Ministry of Corporate Affairs India. All these companies are focusing well in relation to CSR initiatives but a few companies are spending as per norms. Research Limitations: Main limitation of this study is that it is based only on the one year data i.e. 2012-13 given in annual reports, sustainability reports and Business Responsibility Reports of selected companies.
SSRN Electronic Journal, 2019
The Companies Act, 1956 had no mandatory provisions for Corporate Social Responsibility (CSR) and companies operated CSR programs according to their own policies. The Companies Act, 2013 has made CSR spending mandatory for a certain size of companies-these companies from the ongoing financial year will have to spend at least two percent of their three year average net profits on CSR. This paper studies Corporate Social Responsibility expenditure of the ten largest and most powerful companies in India prior to the implementation of CSR provisions of Companies Act 2013-these companies were selected from the 2013 Forbes Global 2000 list. CSR expenditure by these companies was compared with the provisions of the Companies Act, 2013 to assess whether they were fulfilling the spending norms now prescribed or will they have to scale up their CSR programs significantly to meet the requirements of the new Act and the provisions of Companies (Corporate Social Responsibility Policy) Rules, 2014 which came into effect from April 1, 2014. Studies suggest that large corporations are precursors to CSR commitments in a society and hence, mandatory CSR spending in large companies is likely to positively influence CSR in smaller companies. This study will provide a base for further research in CSR especially with reference to implementation of new CSR provisions.
THE STUDY CSR SPENDING IN INDIA (POST ENACTMENT OF COMPANIES ACT 2013)
IAEME PUBLICATION, 2020
Business entities being largest beneficiaries and users of innumerable social and natural resources cannot consider themselves merely as a money-making object. Business Entities are bound to pay back to the society in whatso capacities. Apart from the charity involvement of the business entities, corporate social responsibility is to be well-thought-out as a vital part of the core business. The business entities have realised this reality now and have started to contribute some proportion of their profit’s for various CSR activities and Indian companies are also not an exclusion to it. However, the purpose behind Spending on CSR Activities is to be looked in to understand what really it makes for the them in involving themselves into socially responsible activities. In this regard literature in the subject has identified two motives, viz, economic and social motive. The Present study is aimed to explore the business and social motive of companies on their Spending’s on CSR after enactment of the Companies Act 2013(Section 135 – CSR Provisions). The per capita values of Spending’s on CSR, GST Collection, and Income (at current prices) along with Number of People BPL are used for the analysis. Further, Gini Coefficient is used to study the disparity in spending on CSR Activities across all the states of the country. The Gini Coefficient gave the result of high disparity of CSR Spending over the different states of India. Further, the Regression Analysis resulted in confirming the business motive behind the Spending on CSR rather than social motive which needs to addressed by the concerned regulators to make Spending’s on CSR as a fruitful tool in solving the social issues of the country.
Corporate Social Responsibility Activities: A Review and Evaluation after its legislation in India
Paper Presented at two day National Seminar on: Recent advances in Business Management, Organized by Department of Commerce, Sant Mohan Singh Khalsa Labana Girls College, Barara, Haryana (India), Sponsored by Directorate of Higher Education (DHE), Haryana, Panchkula., 2019
The purpose of this paper is to review corporate social responsibilities (CSR) activities in Indian companies after its legislation through company bill act 2013 under section 135. The study is based on extant literature and will include the examples from current scenario in Indian companies. Secondary research is conducted for the Indian companies through their corporate web sites pages containing information about their CSR initiatives. Information listed in this research paper is derived from CSR reports, Annual Reports, Press Releases, White Papers and various references. Indian companies have started to understand that they can use CSR as a strategy in order to gain benefits and to make a better place for all people. In the long term, the firms that are socially responsible are successful. The present study provides a starting-point for further research in Corporate Social Responsibility Initiatives. This paper is of value to the researcher and practitioners of corporate social responsibility. The study, I hope, would help other small and medium sized companies, to actualize their CSR interventions.
"Corporate Social Responsibilty: A study of selected Indian Companies"
ABSTRACT India is one of the top five fastest developing countries and also ranked 6th largest economy in the world with a nominal GDP of $ 2.848 trillion that is really remarkable, but it’s still a developing country, not a developed country. India has been ranked 131st out of 188 countries, as per latest Human Development Report (HDR) 2017 by the United Nations Development Program (UNDP) and Oxfam an International NGO also Reported that- The richest 1% in India cornered 73% of the wealth generated, that shows the biggest income inequality. Where one side India has a lot of industrial activity, good economic condition and people have high income but on another side inequality in income, regional disparities in education, health and living standards also exist. To overcome from economic inequality and to raise the standard of living government of India time to time introduced new policies, rules and regulation, law, scheme, etc. through which they can achieve their sustainable development goal. Even the main objective to introduced CSR law in companies’ act 2013 is for sustainable development of society. The new CSR provision and its proper implementation can take India toward the next level of development. Law and policies have acted as a catalyst in the process of social transformation of people. The concept of CSR is governed by clause 135 of the Companies Act, 2013 and encourages companies to spend at least 2% of their average net profit in the previous three years on CSR activities mentioned in Schedule VII of the companies act 2013. When these corporate shares a little of their prosperity for the development of a country in form of providing education, food, healthcare, skill development, rural development, sport etc. this helps in the overall development of country and simultaneously improvement in the future employability. The purpose of this research is to analyzed the initiative taken by the eligible Indian companies’ under the provision of Corporate Social Responsibility (Sec 135) of The Companies Act 2013.Study was carried out on a 200 Indian companies (100 from public sector and 100 from the private sector and secondary data obtained from their Website, Annual report, CSR policy, CSR report, etc. of three consecutive financial years (FY 2014-15 to FY 16-17). Six related Hypotheses were developed and subjected to statistical analysis, using the Chi-square statistical method and two ways ANOVA without replication and some mathematical calculation. Results obtained reveal that FY 2014-15 only 38.5% of eligible companies meet the minimum spending requirement on CSR. In the same way in the year 2015-16 out of 200 only 114 & 2016-17 out of 200 only 109 selected companies meet the requirement. In coming years 2015-17 there is slight improvement in expenditure on CSR activities. In the public sector most commonly channel used for the implementation of CSR activities are direct and with Ngo same with the private sector. As compared to the public sector, private sector gives more preference to their own Foundation for implementation of CSR activities. The selected Indian companies are directly engaged in CSR activities mostly in the area of Rural Development, Education (especially Girl child), Healthcare, and sanitation and skill development. But In the area of Technical Incubator, Farmers, sport, mid-day meal, the contribution is negligible. Spending only on sanitation, health and education did not meet the expected result for which government introduce the CSR provision in the Companies Act 2013. If a corporate share a little of their prosperity for the development sportsperson also, it will help them to improve their overall personality and simultaneously improves the future prospects in terms of employability. Companies expressed their commitment towards Corporate Social Responsibility and tried to defend their failure to spend 2% in initial year by expressing that CSR Policy formulation is under process, Location of projects could not be finalized and Not formed CSR Committee, now the mentioned that funds have been earmarked for CSR activities and would be carried forward for the next year. But in next year again most of the companies not attain the CSR provision. The paper suggested a more pragmatic approach toward social responsibility compliance among business organizations in India. This Research will be useful for the Practitioners-government, implementing agencies, corporate, lawmaker, Policymaker, CSR officer and committee alike. This feedback will then act as a benchmark for any corrective action that may be required
Corporate Social Responsibility – Perspectives in Indian Context
Corporate Social Responsibility (CSR) has become one of the most talked about subject today with the inclusion of mandatory CSR in the New Companies Act 2013, which has been enforced from 1st April 2014 in India. All companies with turnover of Rs.1,000 crore and more – or a net worth of Rs.500 crore and more or net profit of Rs.5 crore and more – will have to spend at least two percent of their three-year average profit every year on CSR activity. India is the first country in the world to mandate Corporate Social Responsibility (CSR) spending. The paper aims at presenting an overview on the New CSR provision envisaged under section 135, further, this paper investigates the spending pattern of Indian companies contributing towards CSR activities. The study is based on Secondary Data, presented in graphs and tables, collected from top 20 Indian Companies from their respective sectors ranked by Economic Times. The Profit after Tax from the Annual Reports of Financial Year 2009-2010, 2...
CSR , COMPANIES ACT AND CSR INITIATIVES IN COMPANIES IN INDIA
Companies are paying more attention to Corporate Social responsibility (CSR) these days. The reason for this is the recent Companies Act 2013 which has made CSR for companies with a turnover of 1000 crores have to spend at least two percent of their average net profits towards CSR and thereby paying back to the society from which they have taken resources and to the community and society at large. This paper talks about such initiatives of a few companies in India.
Introduction Corporate Social Responsibility (CSR) is a continuing commitment of business towards society for economic development & improving the quality of life of the workforce & their families as well as of local community. CSR no longer represents a burden, but instead it is seen as a means of enhancing reputation and trustworthiness among stakeholders. CSR is treated as a vehicle through which companies give something back to the society. Every business firm has to work within the society by using its resources like material, money, man and skills. Society also provides market to the business to sell its goods. Business depends on society for survival, sustenance & reassurance. Society & environment benefits the business firm so it is the responsibility of the firm to use its resources in a sustainable manner so that future generation can avail the benefits of the natural resources. European Commission described CSR as "a concept whereby companies integrate social and environmental concerns in their business operations and interaction with their stakeholders on a voluntary basis." Over the past few years, as a result of rising globalisation and environmental issues, the perception of the role of corporates in the broader social context within which it operates, has been altered. Corporates consider themselves as an integral part of society and accordingly act in a social responsible manner that goes beyond economic performance (KPMG and ASSOCHAM, 2008) In India, many firms (whether public or private) are doing CSR practices to meet various needs of society and contributing for socioeconomic development of the society. In this paper, companies are taken
2020
This paper is based on the analysis of different theories and models of CSR prevailing around the Globe and their relevance in Indian context. An analysis of the CSR ecosystem in the country with impacts of the regulatory and promotional provisions mentioned under the Companies Act 2013, suggestive fields of CSR given under the Schedule VII of the Companies Act 2013 and CSR Rules 2014 as well as different ordinance and notifications issued by the Government of India and various State Governments has also been presented. Influence of various international and national voluntary guidelines, codes and standards i.e. ISO 26000, UNGC, AccountAbility, OECD Guidelines, GRI, National Voluntary Guidelines on Economic, Social and Environmental Responsibilities of the Business on the CSR planning and implementation and their linkages with the CSR related provisions of the Companies Act 2013 has been explored. How above regulatory and voluntary ecosystem affects CSR projects of companies in India has also been explored and presented in this paper. As a result of the above analysis, the researcher has presented a newly developed model on CSR in Indian context.