To build inclusive, sustainable and productive corporate social responsibility initiatives.
Industry body Indian Chamber of Commerce (ICC) pitched for public private collaboration to build inclusive, sustainable and productive corporate social responsibility (CSR) initiatives.
“CSR is the responsibility of companies but the public sector can promote the adoption of ethical business practices through dialogue with the private sector. Government can also actively engage in and support public-private partnership to ensure that they lead to an improvement in economic and social well-being of people”, said Aditya V Agarwal, president, ICC and director-Emami Group.
The chamber can partner with corporate houses, NGOs and government departments to organize forums and initiatives for promoting CSR activities by connecting NGOs and companies who cannot connect to one another, he added.
Stressing that CSR initiatives should be designed in a sustainable and result oriented manner, he said, creating indirect advantages such as brand visibility, social, capital partnerships, business opportunities, long-term community relationships should be prioritized.
ICC pointed out that focus should be on improving the present conditions with respect to cleanliness of roads, environment protection, women empowerment, education and health.
In Odisha, lots of initiatives on CSR have already been undertaken by big corporate like MCL (Mahanadi Coalfields ltd), Nalco, Tata Steel and Vedanta. MCL has contributed Rs 61.30 crore towards CSR initiatives. Tata steel has contributed Rs 59.61 crore and Vedanta has spent 24.05 crore, said Agarwal. Odisha is the first state in India to release white paper on CSR.
It may be noted that following implementation of the CSR legislation, two per cent profits of 460 companies, which comes to around Rs,8,347,47 crore, was earmarked for CSR activities in 2014-15. Out of this roughly 76 per cent was spent during the year.
Agarwal emphasised on developing effective and need based CSR strategies so that the investment can yield intended results.
“Some support should be given by the corporates to the farmers in the state and prepare a model, jointly with the agriculture department, to increase the productivity”, said Debi Prasad Mishra, state industries minister.
This article was taken from here.