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

Amit Shah on India’s languages: What else he said

Home minister Amit Shah’s remark on the need for a single national language has rightly sparked a debate, but the headlines missed much in his speech about language, culture, and identity. Giving away Rajbhasha Gaurav Puraskar and Rajbhasha Kirti Puraskar awards on the occasion of Hin

On A Personal note with musician Apache Indian

Renowned British singer, songwriter and reggae DJ, Apache Indian (originally known as Steven Kapoor) shot to fame with his style of music which came to be known as bhangramuffin (also called bhangragga) – a mix of bhangra, reggaemuffin and traditional dance hall in the early 1990s. His style changed

Traffic fines: Find the sweet spot between penalty and self-goal

When close to five lakh people are killed in road accidents every year in India, road transport minister Nitin Gadkari should have been complimented on his not-so-populist move to impose higher fines for traffic violations. Instead, many people are unhappy and several states – mostly ruled by the BJP

A unique project gives new life to a chaotic Mumbai fishing village

Traditional fishermen or Kolis; synonymous with feasting, song and dance; are the original inhabitants of Mumbai. For generations, they have loved their vocation and prided in it. But their work and lifestyle are facing threats from reclamation, land acquisition by builders, lack of sustainable fishing pra

Modi pledges higher target for degraded land restoration

Addressing the Conference of Parties (COP14) to the United Nations Convention to Combat Desertification (UNCCD), Prime Minister Narendra Modi on Monday announced that India would raise its target of the total area that would be restored from its land degradation status from 21 million hectares to 26 millio



Current Issue

Current Issue

Video

CM Nitish’s convoy attacked in Buxar

Opinion

Facebook    Twitter    Google Plus    Linkedin    Subscribe Newsletter

Twitter