New guidelines for PSUs on CSR this week: Govt
30 Sep 2014 11:34 PM GMT
This was stated by Joint Secretary in the Department of Public Enterprises A K Pavadia at a Ficci conference organised here on Monday. Pavadia said that the government is providing an overarching framework in which corporate social responsibility is embedded.
He asked businesses not to restrict their social and community spending to 2 per cent as mentioned in the Companies Act, the compulsory corporate social responsibility spending, and should expand and go beyond it to achieve a sustainable business model. He added that now the public sector units (PSUs), according to new Companies Act 2013, will have to report the sustainability initiatives undertaken by them.
The conference brought together Indian and international Life Cycle Assessment/Management (LCA/LCM) experts and interested stakeholders to promote Life Cycle Approaches in India.
He asked businesses not to restrict their social and community spending to 2 per cent as mentioned in the Companies Act, the compulsory corporate social responsibility spending, and should expand and go beyond it to achieve a sustainable business model. He added that now the public sector units (PSUs), according to new Companies Act 2013, will have to report the sustainability initiatives undertaken by them.
The conference brought together Indian and international Life Cycle Assessment/Management (LCA/LCM) experts and interested stakeholders to promote Life Cycle Approaches in India.
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