International Journal of Advanced Research in Management and Social Sciences

  • Year: 2014
  • Volume: 3
  • Issue: 3

CSR towards sustainable development under the Companies Act, 2013

  • Author:
  • V. Balachandran, S. Saranya
  • Total Page Count: 13
  • DOI:
  • Page Number: 28 to 40

*Professor of Corporate Secreretaryship, School of Management, Alagappa University, Karaikudi

**Project Fellow, Department of Corporate Secretaryship, Alagappa University, Karaikudi

Abstract

Corporations in India are under growing pressure from internal as well as external stakeholders to achieve corporate sustainability and consider the economic, environmental and social implications of their activities. Sustainability reporting is gaining momentum globally as an important communication tool for companies to disclose their sustainability plans and performance and enhance stakeholder confidence. This paper aims to review the various initiatives and trends of corporate sustainability with special reference to the recent trends of sustainability reporting in India. It also provides an overview of various approaches to CSR promotion and its implementation and elicits the essentiality of CSR under the Companies Act, 2013. However, it contends that Indian corporations have been showing positive signs in embracing this concept, and the recent policy developments shall also encourage the reporting efforts in India.

Keywords

CSR, Sustainability reporting, Companies Act 2013, Corporate Sector