In 2014, India became the first country in the world to mandate Corporate Social Responsibility (CSR) rules for its companies, both public and private. According to these rules, companies with a net worth of Rs.500 crore or revenue of Rs.1,000 crore or net profit of Rs.5 crore are required to spend 2% of the …
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Corporate social responsibility used to be a bolt-on afterthought for many companies. Firms would budget some leftover funding for charity, make some end-of-year donations or schedule volunteer time for their employees and check the corporate social responsibility box.
The term whitewashing is defined as “a coordinated attempt to hide unpleasant facts, especially in a political context.” It’s easy to see the relationship between it and another less familiar term, greenwashing.
The dawn of the 21st century saw the birth of conscious capitalism. Increasing global connectedness, our interdependence as humans and personal empowerment are converging to catalyze a mass shift in the corporate conscience. A palpable manifestation of this growing business conscience is corporate social responsibility (CSR). On April 1, 2014, India became the first country …
Business with a Conscience Spotlight Series – ANSYS Read More »
The areas—lumped together as a single cause in CSR Rules—got Rs2,105 cr or 35% of all CSR spending. Companies and sectors with the largest revenues and profits accounted for the highest corporate social responsibility (CSR) spending in the second year of CSR Rules.
