Development Of Corporate Social Responsibility With Corporate Environmental

Adv. Shubham Bawaskar, LLM, Law College Pune

ABSTRACT:

The contention of this paper is to study the development of CSR with CER in Indian context. The 2013 Companies Act for the first-time mandates that private corporations join public sector firms in annual donations for Corporate Social Responsibility (CSR). All firms with net worth above Rs 500 crore, turnover over Rs 1,000 crore, or net profit over Rs 5 crore are required under Section 135 to spend at least 2% of their annual profits (averaged over 3 years) and establish a CSR committee to oversee the spending. CER is similar to CSR, introduced by the government via notification in 2018, where corporates merge the environmental issues into their daily operations to reduce waste and emissions as well as maximize productivity. CER’s scope is greater as CSR applies in specific situation to corporates meeting the turnover or net profit criteria but CER applies for getting green clearance even if there’s no profit. Corporate Environmental Responsibility is a branch of Corporate Social Responsibility, where a business is said to have a duty to improve the area in which it conducts business. Corporate Environmental Responsibility is a business duty to abstain from damaging natural environments. The most important aspect is that Corporate Environmental Responsibility improves the natural environment and reduces the impact that business operations have on the environment. Whether CER and CSR are the main strategies that help in the protection of environment. The growth of India in the 21st century is shaped by CSR and CER. The gap between the intention of the companies and the implementation of the projects and schemes for achieving them should be minimized. Corporate Environmental Responsibility is about managing the use of natural resources in the most effective and efficient manner in order to reduce environmental impacts and to reduce the financial costs.

Keywords: CSR, CER, Corporate, Companies, Environment, Responsibility.