CSR and Environmental Sustainability in India: An Overview

Authors: Shashi Kant Verma

Country: India

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Abstract: Corporate Social Responsibility (CSR) has emerged as a critical component of business strategy in India, reflecting a growing recognition of the interconnectedness between business operations and societal well-being. This paper examines the integration of environmental sustainability within the CSR frameworks of Indian companies, highlighting key trends, challenges, and opportunities. The study explores how Indian corporations are increasingly prioritizing sustainable practices to address environmental issues such as pollution, resource depletion, and climate change. The analysis is based on data from various sectors, including manufacturing, information technology, and finance, illustrating diverse approaches to incorporating sustainability into CSR initiatives. Key drivers for this integration include regulatory pressures, consumer demand for ethical business practices, and the need to maintain competitive advantage in a global market. However, the paper also identifies challenges such as inadequate infrastructure, lack of standardized measurement tools, and the need for greater awareness and education among stakeholders. The findings suggest that while significant progress has been made, there is a need for more robust policies and collaborative efforts between the government, corporations, and civil society to enhance the effectiveness of CSR in promoting environmental sustainability. The paper concludes by offering recommendations for improving CSR practices to ensure a more sustainable future for India. The insights provided can serve as a guide for policymakers and business leaders aiming to align economic growth with environmental stewardship.

Keywords: Corporate Social Responsibility, Environmental Sustainability, India, Sustainable Practices, Business Strategy, Stakeholders

Paper Id: 230958

Published On: 2022-08-02

Published In: Volume 10, Issue 4, July-August 2022

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