Ministry of Corporate AffairsGovernment of India

Knowledge Associate

RECOMMENDATIONSOF

CORPORATE SOCIAL RESPONSIBILITY

CSR: The New Face of Business Ethics

The time has arrived for the corporate to recheck their initiatives in terms of the social responsibility which they are

contributing, not only in the areas dealing with the core social issues but also based on the initiatives taken in dealing

with the environmental issues such as climate change, impact on surroundings, etc. Product responsibility, contribution

towards economic development for the weaker sections and most importantly replenishing resources by strategically

attaining sustainable development are the other burning issues to be looked at. Performance indicators, rating agencies,

reporting initiatives, quantitative measurement of environmental and social related initiatives are some of the criteria

which may distinguish the corporates from their peers. Looking ahead ASSOCHAM organized a day long interactive

event participated by the policy makers, investors and conglomerates around the world.

CSR Initiatives and Its Impact on Business Practices

Delegates strongly opined that Corporate Social Responsibility / Sustainability Development performance in a

structured manner has a very positive impact on business. Specifically, house packed with representatives from all

sections of the society felt that business identity having good CSR practices experience

lGarnering support for accessing the resources.

lIncredibly work for improving the relationships with the suppliers as well as consumers .

lLeads to better access to capital and paves the path for a profitable business.

lGives complete control and autonomy of management.

Inauguration Lamp being litby Mr. Arun Maira &

Mr. R. Bandyopadhyay

ExhibitionFlock of people gathered for the Summit

nd2 International Meet

Corporate Social ResponsibilityInnovation… Resurrection…Sustenance

R E C O M M E N D AT I O N S

15 July 2010, The Lalit, New Delhi

“CSR can be much more than just a cost, constraint, or charitable deed. Approached strategically, it generates opportunity, innovation, and competitive advantage for corporations

– while solving pressing social problems.”

- Michael E. Porter Harvard Business Review

lThe customers and other beneficiaries feel proud to be associated with such brand names and make them all more

brand loyal.

lBuilds a strong relationship with local associations and administrators.

The delegates have observed that the pressures from investors (govt / pvt) are one of the prime drivers of CSR activities.

They further realized the immense need to disclose a company`s CSR activity, as it improves the social image to a large

extent. In this context delegates observed that majority of CSR initiative in the present have following character

lCSR ambitions and communication orientations are mainly compliance driven, profit driven (marketing), caring and

effectively synergistic.

lCorporate are looking forward to report their performances as per the requirements of the ten Universal Principles of

the United Nation Global Compact (UNGC), which focuses mainly on reporting performance, based on the

parameters of Human Rights, Labour Standards, Environment Protection & Non Corrupt Business Conduct.

lThe advanced trend seen in most of Corporate across the Globe, as well as in India relates to integrating UNGC

Principles with the GRI G3 Guidelines; laying a CSR Sustainability Framework and Strategy to get an effective output

on Corporate Social Responsibility and Sustainability.

In this context delegates endorsed ASSOCHAM recommendations to work with leading international institutions, which

provides powerful platform to develop a core set of common CSR indicators, which the companies can use for

communicating their performances, both internally and externally.

CSR Implementation Strategy and Encouragement

ASSOCHAM highly recommends Corporate India to walk the extra mile to engage in developing end to end solutions

related to health, water and education in remote-rural areas with higher levels of poverty. The end to end solution may

include refining the existing systems, improving infrastructure and enhancing the capacity. They may team up with the

various Non Profit Organizations/NGOs for making a more effective approach.

Besides, there is a huge scope for Corporate to come forward and work for the development of quality human resource;

skill development, employment and leadership development are some of the major areas to focus.

The Indian Government has taken initial steps, such as giving away incentives for constructing environment friendly

buildings and houses, which saves energy and reduces pollution, and has also, issued some voluntary guidelines for

corporate.

ASSOCHAM also proposes to build a Centralized Rating Agency to assess and rate the Corporates based on Corporate

Social Responsibility and Sustainability Performance.

ASSOCHAM strongly believes that Government can motivate the responsible Corporate and firms through the following

ways:

lProvide more attractive tax subsidies than the usual being provided to those paying attention to innovative measures

for environmental protection.

Release of white paper by Mr. Arun Maira & Mr. R. Bandyopadhyay. Also seen in the

picture is Mr. Vinay Rai, Mr. D.S.Rawat, Mr. Navin M. Raheja and Mr. Umang Das

Mr. R. Bandyopadhyay, Secretary, Ministry of Corporate Affairs,GOI, giving his

speech. Also seated(LtoR) Mr. Umang Das,Mr. Navin M. Raheja, Mr. Arun Maira,

Mr. Vinay Rai, Mr. D.S.Rawat

Representatives of Jindal Steel & Power Receiving CSR Excellence award

lAccess to attractive loan schemes.

lFelicitating them with national level awards to boost their spirit.

lGiving them the right platform to exhibit themselves and be recognized, which can indirectly boost their brand.

lA mechanism should also be developed, which should enable the sharing of the best practices, so that the benefit to

the society could be replicated at multiple levels

Indian industries are attaining newer heights through a vision to drive sustainable business process models and share

the social responsibility to draw the attention of the investors and policy makers at an international level.

It is realized that there is a need of extensive networking to bridge the gaps; implementation is the mantra. Knowledge

sharing and networking through ASSOCHAM–CSR network is a firm step to sustainable growth for a better tomorrow.

Representatives of Punjab National Bank receiving CSR Excellence award

Representatives of Tata Steel receiving CSR Excellence award

Seated from (LtoR) Dr. Jayakumar,Mr. Umang Das, Mr Ola Jo Tandre,

Dr.Ashesh Ambasta, Ms. Sarita Bahl,Mr. Ashish Ghosh

Seated from (RtoL) Dr. Vimarsh Raina, Mr. Suhas R. Jhoshi, Mr.Niraj Prakash,

Mr. Neeraj Jain. Also seen Mr. R. L. Ahuja on dice

Mr.Lavleen Raheja delivering his presentation. Seated (from L to R), Mr. Rajib Kumar Debnath, Mr. Rajat Panwar, Ms. Meenakshi Sawhney

For full details, please visit www.assocham.org

THE ASSOCIATED CHAMBERS OF COMMERCE AND INDUSTRY OF INDIACorporate Office: 1, Community Centre, Zamrudpur, Kailash Colony, New Delhi-110 048

Tel: +91-11-46550555 (Hunting Line) • Fax: +91-11-46536481/82, 46536498E-mail: assocham@nic.in • Website: www.assocham.org