Report on companies doing responsible business released

Most companies held back from disclosing principles related to human rights, employees’ wellbeing, inclusive growth etc

pujab

Puja Bhattacharjee | October 27, 2015


#companies   #human rights   #employees   #wellbeing   #responsible business   #The Ministry of corporate affairs   #NVGs  

Dabur India, TATA Steel, GAIL, Oil India, Jindal Steel, Ambuja Cement and Glaxosmith Consumer Healthcare are among top 10 Indian companies doing responsible business.

The other companies in the same category, as per the National voluntary guidelines for Social, Environmental and Economic Responsibilities of Business (NVGs), are: National Aluminum, IDFC, and Sesa Sterilite.

 This ranking is based on the disclosures made by top 100 Indian companies under the guidelines, which are have since been overshadowed by the Corporate Social responsibility (CSR) regime that makes it mandatory for companies to plough back 2 per cent of their profits on society.

The ranking was released by Corporate Responsibility Watch in New Delhi today.

The Ministry of corporate affairs had launched NVGs in August 2011 after consulting the civil society groups, to guide businesses towards more responsible operations. The definition of business responsibility, as interpreted in these NVGs includes the three core areas of sustainability: environmental, social and governance.

The guidelines encourage businesses to embrace sustainability as part of their business ethos.

The Securities and Exchange Board of (SEBI) India, has mandated 100 listed companies to report on their compliance of the NVGs through a business responsibility report (BRR).

Nisha Agarwal, CEO, Oxfam India, said that rising inequality and climate change are a great hindrance towards eliminating global poverty. “Earlier we tried solving the gap in development through aid. Today the role of private sector in development is explicitly recognised.”

She also said that SEBI plans to extend the BRR to 500 listed companies.

Pooran Chandra Pandey, executive director, UN global compact network India, said that the government was gradually withdrawing from its role in welfare activities, which will eventually create gaps. “How are those gaps going to be filled? What will be the role of the civil society and the non-state actors?’ he asked.

As per the report more than 50 per cent companies gave achieved high performance in responsible business and have scored more than 0.90 on the index. However, the report says that most of the companies have not made disclosures related to human rights, employees’ wellbeing, inclusive growth, environment and product life-cycle sustainability.

Comments

 

Other News

Rs 1,514 crore already spent on cleaning Yamuna

 The major reason for high level of pollution in river Yamuna is inadequate flow due to over extraction of surface and ground water and discharge of untreated effluent, union minister Vijay Goel informed the Lok Sabha on Monday. He said the water resources ministry is supplementing the effor

No central government scheme to run endlessly

 Centrally sponsored schemes will now onwards run for a fixed period of time, thanks to a sunset date. An outcome review will also be carried out.   In public policy, a sunset clause means that it shall cease to have effect after a specific date, unless further legislative/a

What India needs to do to finally become a superpower

For the past 25 years, India has been rising in stature. It is continually called an upcoming superpower but has been unable to reach the promised status. India’s importance in the world is more due to its immense population and potential as a market than any objective assessment of development. Indi

Would keeping an army tank at JNU instil nationalism?

Would keeping an army tank at JNU instil nationalism?

Yogi in politics, TN industries shift base and, how to end the Maharaja’s misery

Everyone in Yogi Adityanath`s office declares that Yogi’s political career is founded on the work carried out from there, first when he was mahant of the influential temple, and then as an MP. Vijendra Singh, who works at the office, says “It’s because of these letters that Yogiji has n

A fifth of Rs 29 lakh crore are NPAs

Banks have advanced a staggering Rs 29,46,060 crore to the industrial sector, of which Rs 6.93 lakh crore are non-performing assets (NPAs).   Finance minister Arun Jaitley informed





Video

कश्मीर पर तीसरे पक्ष की मध्यस्थता स्वीकार नहीं - महबूबा

Current Issue

Opinion

Facebook    Twitter    Google Plus    Linkedin    Subscribe Newsletter

Twitter