Corporate Social Responsibility vis-a-vis Corporate Environmental Responsibility

Abstract

Corporate Social Responsibility (CSR) is a basic responsibility of the corporate sector and the Companies Act, 2013 has made it compulsory for the companies to spend a share of their profit for society at large. It has also been observed that the companies responsible toward the society at large have good repute among the customers and create long term value for shareholders. The Environmental Pollution and globalisation have direct relationship. So, it is required for the corporate sectors to take proper steps for prevention of degradation of the environment. It is helpful to create a balance of development and protection of natural habitat by promoting good practices among corporate through CSR. In modern times, the corporate sector is getting more responsible towards environment protection and several initiatives are taken by them to create healthy environment by revival of lakes, cleaning of rivers, protection of wild life species, management of national and local parks etc. The main aim for a business enterprise is to perform social – cum – economic responsibility. Inspite of mandate of law, many companies find reasons for not complying with CSR norms. But the general observation is that the corporate trend is changing with times and now the corporate are taking CSR as business strategy. In light of the environment protection initiatives by corporate it can be said that Corporate Social Responsibility is emerging as Corporate Environment Responsibility.