Corporate Social Responsibility

Corporate Social Responsibility (CSR) has become an integral part of business operations in today’s world. Section 135 of the Companies Act, 2013, made CSR mandatory for companies with a net worth of Rs. 500 crore or more, or a turnover of Rs. 1000 crore or more, or a net profit of Rs. 5 crore or more in a fiscal year. The law requires companies to spend at least 2% of their average net profits of the preceding three years on CSR activities.

The CSR policy of a company should align with the Sustainable Development Goals (SDGs), which are a set of 17 goals adopted by the United Nations in 2015 to achieve a sustainable future for all. The SDGs cover a broad range of areas, including poverty alleviation, gender equality, climate action, and responsible consumption and production. Companies can contribute to the SDGs by implementing CSR activities that focus on these areas.

From a sustainability perspective, CSR is crucial because companies have a significant impact on the environment and society. A sustainable approach to business operations involves considering the environmental and social impact of a company’s activities and taking steps to mitigate any negative effects. CSR activities can help companies reduce their environmental impact, improve working conditions, and support local communities.

ESG (Environmental, Social, and Governance) is a set of criteria used to evaluate a company’s sustainability and ethical practices. Companies that perform well on ESG factors are more likely to attract investors and customers who value sustainability and social responsibility. CSR activities can help companies improve their ESG performance by demonstrating a commitment to sustainability and social responsibility.

CSR activities can take many forms, including philanthropy, community development, environmental sustainability, and employee welfare. Some examples of CSR activities that align with the SDGs include:

• Poverty Alleviation: Providing access to education and healthcare, creating employment opportunities, and supporting micro-enterprises in low-income communities.

• Gender Equality: Promoting gender diversity in the workplace, providing training and education for women, and supporting women’s health initiatives.

• Climate Action: Reducing carbon emissions, using renewable energy sources, and implementing sustainable waste management practices.

• Responsible Consumption and Production: Reducing waste and promoting recycling, supporting sustainable agriculture, and implementing sustainable supply chain practices.

• Community Development: Supporting local schools and hospitals, providing access to clean water and sanitation facilities, and promoting cultural and sporting events.Lorem Ipsum is simply dummy text of the printing and typesetting industry. Lorem Ipsum has been the industry’s standard dummy text ever since the 1500s, when an unknown printer took a galley of type and scrambled it to make a type specimen book.

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