Prospects of Environmental Protection and Sustainability through Corporate Social Responsibility (CSR) in India

Abstract

Healthy environmental is keys to economic development and growth. Thus, not paying attention to environmental problems sustainability can lead to degradation and depletion of natural resources which could prove detrimental to both the business and the society. The activities which are undertaken by the corporate and business houses for the welfare of people and society and also for ensuring healthy environment fall under the ambit of Corporate Social Responsibility (CSR). In past CSR activities were taken in philanthropic and charity mode. However, the recently enacted Companies Act, 2013 made the CSR obligatory with clear cut guidelines for its implementation. The Section 135 of Schedule VII of the Companies Act, 2013 as well as the provisions of the Companies (Corporate Social Responsibility Policy) Rules, 2014 became effective from April 1, 2014. Along with other provisions, the act has provided the list CSR activities to be undertaken by companies and guidelines for its implementation. One of the activities is about environmental protection and sustainability and includes elements like ‘ensuring environmental sustainability, ecological balance, protection of flora and fauna, animal welfare, agroforestry, conservation of natural resources and maintaining quality of soil, air and water’. Incorporation of environmental issues in CSR activities is positive step and if implemented properly it can be of great help for maintaining healthy environment. Different environmental elements of CSR activities are discussed with reference to environmental protection and sustainability.

Key words: Corporate Social Responsibility (CSR): The Companies Act, 2013; Environmental protection and sustainability.