The article has been written by Pragyna Panigrahi, a 1st-year student of Amity Law School, Amity University, Chhattisgarh.
Corporate Social Responsibility: – Corporate Social Responsibility means how the companies conduct, control, and direct their business processes to produce an overall positive impact on society. It covers sustainability, social impact and ethics, and everything done correctly should be primary objective of the business. Corporate Social Responsibility (CSR) is a type of international private business self regulation that aims to contribute to societal goals of a philanthropic, activist or charitable, nature by engaging in or supporting volunteering or ethically oriented practices.
Four types of Corporate Social Responsibility are philanthropy, environment conservation, diversity and labor practices, and volunteerism.
Philanthropic Effects: – The largest and most adulate companies in the world are oriented with philanthropic effects. The companies understand that its success that requires not just continuous innovation but also building a next generation capable of using, understanding and improving technology. Even small companies gets benefit from lining up with philanthropic effects.
Environmental Conservation: – Environmental concerns regularly make the headlines, whether a long term issues like global climate change or a local issues such as a toxic chemical spill. Companies that align themselves in these efforts help to minimize environmental problems by taking some important steps such as reducing the overall carbon footprint.
Company Diversity and Labor Practices: – Business superior realize that heterogeneousness in the work place is beneficial, as everyone is getting together and working as a team. Labor policies must be applied to all employees, even those who are at the highest post of the company. No company is impervious to the complication of sexual harassment. The movement has also given rise to other diversity issues in the workplace that need attention and strict action.
Supporting Volunteer Efforts: – Local companies and charities always need help. Bright business leaders know that being involved in the community in a productive way is good for the company. Business superior have the possibility to choose where to spend volunteer efforts to assist the local area along with the company.
Environment and Corporate Social Responsibility: – Now come to Environmental CSR, the main objectives of Environmental CSR is to reduce all the damages that effect the environment from any business process. We can take the example activities such as:
- Use of Energy
- Use of Water
- Waste management
As regarding to the environment, the main focus of Corporate Social Responsibility is: –
They include environment sustainability, ecological balance, conservation of natural resources, maintenance of the air, water and soil and protection of flora and fauna.
Environmental CSR can reduce business risks, improves respect and provides opportunities for cost saving. The simplest energy efficiency measures can generate savings and make a huge difference in your business. Such as: –
- Switch off lights and other equipment when you are not using it.
- Do not waste water
- Reduce the amount of paper you are wasting.
CSR activities are not only about social development but also to provide supremely in the terms of environmental protection as day to day activities of the people increase the pollution level because of the harmful toxicants. For the sustainable environmental the companies have accepted the legislation established by the parliament to supply effectively for the larger benefit of the society.
Out of all the activities, CSR tackle some most important elements of environmental protection that are essential
- Environmental Sustainability: – it is concerned with how the environmental resources will be protected and maintained for the future generations. Depleting water level, distribution of toxic and chemical wastes, the supply of clean energy are some of the environmental problems faced globally. CSR has taken vision to diminish the adversities and harm done to the environment by undertaking and promising to protect the trustworthiness of Mother Earth.
- Ecological Balance: – Ecological balance is the balance between the environment and the living organisms, if the ecological balance is disturb then problems such as overpopulation, contagious diseases, reduction of resources, no management of waste would create a menaces to the environment. CSR can conduct survey to promote the flow of essential and limited use of resources.
- Protection of Flora and Fauna: – Fauna point out to the animal’s life and Flora introduce different types of plant that includes herbs and shrubs that are present and belong to a specific habitat. Deforestation, illegal trade, hunting of tiger, loss of habitat, construction of industries near the forest, toxic pollutants results in the extinction of certain species and harm the plant life, CSR recognize these issues and develop a list of them to point out specific areas and zones. The government also takes strict actions against the companies who violate the rules.
- Maintenance of soil, water, and air: – The excessive use of natural resources and factors affecting the deterioration of water include untreated sewage, disposal of garbage in rivers, lakes, and oceans harming aquatic life, infecting the soil by spraying fertilizers. CSR can undertake a lot of projects to improve the productivity in the ecosystem by stimulating R&D development, spreading awareness and constructing reforms to the disposal of industrial waste, introducing dustbin in every locality, rain water harvesting and use of Eco-friendly products in conducting agricultural activity.
CSR Initiatives by Indian Companies: – Many Indian Companies to improve the economy and encourage the welfare of the society takes vision every year by planning strategic to encourage and make people aware of how to use natural resources and conduct awareness programs to educate people.
- TATA Steel
TATA Steel along with the state of Odisha incorporated the target “Mission 2020 for Agricultural Development” which aim is to improve the lives of the poor farmers by increasing employment opportunities. It aimed at increasing the income of 7000 household farmers giving them proper training. The implementation of project and opportunities of employment for women and the aim to convert three-acre of cropland through irrigation facilities. 344 farmers were benefited by the irrigation facilities. And 60-acre of wasteland land converted as cultivation land.
Coca-Cola is India’s one of the leading beverage companies. Various projects undertaken by the company such as “Alag Karo har din teen bin” the aim of the project was to disposal management and segregation of wet and dry garbage. Coca-Cola foundation started this project in January 2017 in Gurugram in partnership with GIZ, NGO Sahass and TetraPak. Gurugram produces 600 tonnes of waste but due to lake of guideline the wastage are not disposed in a proper manner. The municipal corporation gave proper guideline to dispose waste in three categories i.e. wet, dry and rejecting waste.
The main vision before the project was: –
- Awareness of waste management system and recycling.
- Prevention of waste dumped in landfills.
- In 60 selected areas 9000 household were to segregate the waste.
- And the main objective to spread awareness among 150000 people.