Corporate social responsibility (CSR) refers to strategies that companies put into action as part of corporate governance that are designed to ensure the company’s operations are ethical and beneficial for society. Although corporate social responsibility is a very broad concept that is understood and implemented differently by each firm, the underlying idea of CSR is to operate in an economically, socially, and environmentally sustainable manner.
With reference to the amendments made by Government on Companies (Corporate Social Responsibility Policy) Rules, 2014 on the recommendations made by the High-level committee on CSR set up on 28 September 2018 by the Ministry of Corporate Affairs, there are path breaking changes going to happen such as registration of implementing agency, impact assessment of CSR projects, creation of capital assets through CSR spending, etc. It appears that the futuristic focus of the amendments is to see impact on ground through CSR project execution with a framework to digitize work flow and data in future for better governance and reporting.
Through its Corporate Social responsibility (CSR) initiatives, SW India focuses on areas in which it can create maximum value. These areas include: