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The CSR Voluntary Guidelines served as a statement of intent by the Government of India to encourage businesses to adopt responsible business practices. The CSR Guidelines provided for review and elaboration which was undertaken by the Indian Institute of Corporate Affairs, a think-tank and capacity development institution set up by the MCA.
Corporate social responsibility (CSR) or corporate social impact is a form of international private business self-regulation [1] which aims to contribute to societal goals of a philanthropic, activist, or charitable nature by engaging in, with, or supporting professional service volunteering through pro bono programs, community development ...
Corporate social responsibility may cover: A company running its business responsibly in relation to internal stakeholders ( shareholders , employees , customers and suppliers) The role of business in relation to the state (locally and nationally) as well as to inter-state institutions or standards
Some critics argue that corporate social responsibility (CSR) distracts from the fundamental economic role of businesses; others argue that it is nothing more than superficial window-dressing, such as "greenwashing"; [28] others argue that it is an attempt to pre-empt the role of governments as a watchdog over powerful corporations. A ...
The professional disciplines included in the corporate responsibility field include legal and financial compliance, business ethics, corporate social responsibility, public and community affairs, investor relations, stakeholder communications, brand management, environmental affairs, sustainability, socially responsible investment, and corporate philanthropy.
In December 2020, the Indian Express reported that a total of 101 public sector units had transferred ₹ 2,400 crore (equivalent to ₹ 28 billion or US$330 million in 2023) from their corporate social responsibility funds, and a total of ₹ 155 crore (equivalent to ₹ 182 crore or US$21 million in 2023) from staff salaries, to the PM CARES ...
Social accounting (also known as social accounting and auditing, social accountability, social and environmental accounting, corporate social reporting, corporate social responsibility reporting, non-financial reporting or accounting) is the process of communicating the social and environmental effects of organizations' economic actions to particular interest groups within society and to ...
The Livelihood Ecosystem programs collectively aim to nudge India's top talent into solving India's most pressing social challenges on a large scale. [7] [8] [9] Incubator: Provides early-stage nonprofits with grants and mentorship to help scale their impact. Under the program, social entrepreneurs are offered an INR 15 lakh grant and dedicated ...