Professional Documents
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Outline
Background CSR in the Companies Bill 2009 Whats next?
Background
CSR traditionally practiced mainly as philanthropy Changing conditions call for a more holistic approach?
Core elements; 1. Care for all Stakeholders 2. Ethical Functioning 3. Respect for Workers Rights and Welfare 4. Respect for Human Rights 5. Respect for Environment 6. Activities for Social and Inclusive Development
business practices that ensures the distribution of wealth and well-being of communities in which the business operates. Salman Khursheed [ ] large section of the population remaining as un-included from the mainstream R. Bandyopadhyay
Net worth of > 70 million Turnover of > 140 million Net profit of > 0,7 million
At least 2%
< 14 million
3-5%
At least 2%
14-70 million
2-3%
At least 2%
> 70 million
0,5-2%
Stakeholder consultations
Reactions of India Inc.
CSR is about conscience The issue is on the practical side No definition of CSR how to implement and monitor? Consequences for noncompliance? Law will be counterproductive
Whats next?
Revised Companies Bill ready in April? Clause on mandatory CSR spending likely to be included But what will the exact formulation be?