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What

is CSR ?

While there may be no pinpointed definition of acknowledged meaning of CSR, each one definition points out the necessity of organizations having to put their earning on social development. The core ethos of   CSR lie in altruistic exercises, (for example, gifts, philanthropy, alleviation work, and so on.) of enterprises, all inclusive, the idea of CSR has advanced and now envelops all related ideas, for example, triple end result, corporate citizenship, altruism, key magnanimity, imparted quality, corporate manageability and business obligation. This is clear in a percentage of the definitions exhibited underneath:

The Ec1 characterizes CSR as “the obligation of ventures for their effects on society”. To totally meet their social obligation, undertakings “ought to have set up a methodology to coordinate social, ecological, moral human rights and purchaser concerns into their business operations and center procedure in close coordinated effort with their stakeholders”

The WBCSD characterizes CSR as2 “the proceeding with duty by business to help financial advancement while enhancing the personal satisfaction of the workforce and their families and additionally of the group and society on the loose.”

As per the Unido3, “Corporate social obligation is an administration idea whereby organizations coordinate social and ecological concerns in their business operations and connections with their stakeholders. CSR is by and large seen as being the route through which an organization accomplishes an offset of monetary, ecological and social objectives (TripleBottomLine Approach), while in the meantime tending to the desires of shareholders and stakeholders. In this sense it is vital to draw a qualification between CSR, which could be a key business administration idea, and philanthropy, sponsorships or charity. Despite the fact that the recent can additionally make a significant commitment to destitution diminishment, will specifically upgrade the notoriety of an organization and reinforce its brand, the idea of CSR obviously goes past that.”

From the above definitions, it is clear that:

  • The CSR methodology is comprehensive and incorporated with the center business system for tending to social and ecological effects of organizations.
  • CSR needs to address the prosperity of all stakeholders and not only the organization’s shareholders.

Magnanimous exercises are just a piece of CSR, which generally constitutes a much bigger set of exercises involving vital business profits.

CSR in India

CSR in India has generally been seen as a magnanimous movement. Also in keeping with the Indian custom, it was a movement that was performed yet not thought. Subsequently, there is constrained documentation on particular exercises identified with this idea. Then again, what was unmistakably clear that much of this had a national character embodied inside it, whether it was blessing foundations to heartily partaking in India’s flexibility development, and inserted in the thought of trusteeship?

CSR in India albeit clearly defined is going through a trajectory of its own. Since it has a social angle to it, there is a group movement association which needs to propel things. But in spite of this, it is getting more viral in nature than charitable, and a substantial number of organizations are reporting the exercises they are embraced in this space in their authority sites, yearly reports, maintainable quality reports and actually distributed CSR reports.

The Companies Act, 2013 has acquainted the thought of CSR with the bleeding edge and through its reveal or clarifies command, is pushing more noteworthy transparency and revelation.

The ministry of corporate affairs (MCA) has notified Section 135 and Schedule VII of the Companies Act, 2013, which relate to corporate social responsibility (CSR) that will be effective from April 1, as part of the new Companies Act. The norms will apply to companies with at least Rs 5 crore net profit or Rs 1,000 crore turnovers or Rs 500 crore net worth.

These companies will have to spend 2 per cent of their three-year average annual net profit on CSR activities in each financial year, starting from FY15.

CSR

and sustainability

CSR in India has a tendency to concentrate on what is finished with benefits after they are made. The UN Global Compact, a broadly utilized manageability system has 10 standards coating social, natural, human rights and administration issues, and what is depicted as CSR is understood as opposed to unequivocal in these standards. Universally, the idea of CSR and manageability appears to be uniting, as is clear from the different meanings of CSR set forth by worldwide associations. The genesis of this union could be seen from the preface to the as of late discharged draft principles identifying with the CSR provision inside the Companies Act, 2013 which discusses stakeholders and incorporating it with the social, ecological and monetary goals, all of which constitute the thought of a triple main concern approach.

As the business environment gets progressively perplexing and stakeholders get to be vocal about their desires, great CSR practices can just accumulate more prominent profits, some of which are as takes after:

Groups as suppliers: There are sure inventive CSR activities developing, wherein organizations have put resources into upgrading group job by consolidating them into their production network. This has profited groups and expanded their salary levels, while giving these organizations an extra and secure production network.

Improving corporate notoriety: The customary profit of creating goodwill, making a positive picture and marking profits keep on existing for organizations that work viable CSR programs. This permits organizations to position themselves as dependable corporate citizens.

UNGC is world’s largest corporate citizenship initiative with the objective to mainstream the adoption of sustainable and socially responsible policies by businesses around the world. The 10 principles of the UN Global Compact have been derived from various UN conventions such as the Universal Declaration of Human Rights, ILO’s Declaration on Fundamental Principles and Rights at Work, the Rio Declaration on environment and development, and the UN Convention against Corruption. These prin­ciples cover four broad areas: Human rights, Labor, Environment, and Governance.

This is a guidance tool provided by the ISO which enables organizations to understand the meaning and significance of social responsibility. It is more of certification tool, that this is not a certification but only a guiding tool. Hence, organizations which comply with these standards are self certified. It covers six core areas of social responsibility, namely (i) human rights (ii) labor practices (iii) environment (iv) fair operating practices (v) consumer issues (vi) community involvement and development. This means a macro level out view and a larger picture   to the concept of social responsibility.

ISO 26000 offers guidance based platform on socially responsible behavior and its positive outcomes… ISO 26000 was developed through a multi stakeholder process, meeting in eight Working Group Plenary Sessions between 2005 and 2010. There were total of additional committee meetings and consultations spread on a time span of 5 years.

 ISO 26000 is a voluntary guidance standard that is; it does not contain specified processes like a normal certification. There is a certain learning curve associated with using ISO 26000, because there is no specific external reward certification explicitly tied to ISO 26000. ISO recommends that users say, for example, that they have “used ISO 26000 as a guide to integrate social responsibility into our values and practices.”  ISO 26000 is designed for use by all organizations, big or small and even at the individual level.  . Organizations, such as hospitals and schools, charities (notforprofits), etc. are also included. The big positive feature of ISO 26000 is its flexibility   means that it can be applied by small businesses and other groups as well. So far, many of the users of ISO 26000 have been multinational corporations, more so in   Europe, and East Asia, particularly Japan.

 ISO 26000 is an offer, voluntary in use, and encourages organizations to discuss their social responsibility issues and possible actions with group heads and relevant stakeholders. ISO 26000 propels and motivates its users to reconsider an organization’s social responsibility or “socially responsible behavior” and to identify/select from its recommendations those where the organization could/should engage in contributions to society. ISO 26000 as a rule encourages its users for continuous interaction, and get feedback, on actions taken to improve their social responsibility

ILO’s tripartite declaration of principles on multinational enterprises and social policy

It is a voluntary declaration whose inclusion by countries, employers and multinational organizations is encouraged, with the avowed goal of labor and social standards.  Multinational organizations having different country presence are ideal for these standards.

ILO’s tripartite declaration of principles on multinational enterprises and social policy

It is a voluntary declaration whose inclusion by countries, employers and multinational organizations is encouraged, with the avowed goal of labor and social standards.  Multinational organizations having different country presence are ideal for these standards.

Institute of Social and Ethical Account   ability: Accountability’s AA1000 series of standards.

These are standards which enable organizations to become accountable, with a social sustainable focus and responsible to the same. It consists of the (i) AA1000 accountability principles (AP) standard (ii) AA1000 assurance standard (AS) (iii) AA1000 stakeholder engagement (SE) standard. Since these standards have been formulated through a multi stakeholder consultation process, they ensure that those involved benefit from the aftermath of implementation, typically organizations and societies.

This is one of the world’s foremost auditable social certification standard. It is derived from ILO, UN and national law conventions, and adheres to a systematic managerial approach in order so that companies that companies follow the same this approach. This standard ensures the protection of basic human rights of workers. The nine elements of this standard include (i) child labor (ii) forced and compulsory labor (iii) health and safety (iv) freedom of association and the right to collective bargaining (v) discrimination (vi) disciplinary practices (vii) working hours (viii) remuneration (ix) management systems. According to OECD CSR policy tool The OECD CSR policy tool is very useful to companies to have a landscape view their current CSR activities, by understanding its value and determine other CSR activities which is beneficial. This policy tool is based on the OECD Guidelines and the ISO26000 implementation guidelines.

The SROI Network is a framework based on social generally accepted accounting principles (SGAAP) which is a method   used to help manage and the social, economic and environmental development outcomes created by an organization or   even an individual.

The company can implement its CSR activities through the following methods:

  1. Directly on its own
  2. Through its own nonprofit foundation set up so as to facilitate this initiative
  3. Through independently registered nonprofit organizations that have a record of at least three years in similar such related activities
  4. Collaborating or pooling their resources with other companies
  5. Only CSR activities undertaken in India will be taken into consideration
  6. Activities meant exclusively for employees and their families will not qualify

A very important model, the LBG’s model helps to assess the real value and impact of the social development investment to both, the business and society. This model helps companies to understand the total amount of cash, time and other services invested within the community, and give them an overview and understanding the geographic spread of their community support.

We have a team of specialized and professional group which helps organizations in implementing their entire CSR from end to end. Your company is qualified for CSR as per the Companies   Act of 2013. However your may not have the required specialist team who are aware of all the CSR norms and standards nationally and globally. This is where BG steps in. We help you to prepare the framework for your entire CSR policy and also expenditure outlay for the various social segments thus ensuring that are in adherence to the complete norms of CSR and help you in reaching the requisite   socially responsible corporate goals. Along with the customer growth we consider it as our duty and responsibility to help our clients in contributing to the social and national welfare developments.  For Multinational Companies, we have tie ups all the CSR effort if from the Indian as well as adoption of international standards specified by our expert internal implementers.

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