THE LINKAGE OF SDG AND CORPORATE ACTIONS

WITH REFERENCE TO COMPANIES ACT, 2013

Author: ROHAN SEHGAL
ROLL No. 18BAL050

INTRODUCTION

Sustainable Development Goals the SDGs provide an opportunity to bring global stakeholders
together to end extreme poverty, combat inequalities against inequalities, and protect our planet.
it was generally accepted that Businesses play a role in achieving the SDGs 1. The rapid ones are
changing increasingly geopolitical and economic environment as well as social and
environmental factors set higher expectations on business leaders to be more Make information
transparent and disclose a more stakeholders - than investors, Employees, customers, suppliers
and Civil society.

SDGs and CSR

Since the second half of the 20th century, a long debate has taken place on corporate social
responsibility (CSR) with questions such as what it means, how it is carried out, whether it has
an impact on the productivity of companies and if it must be a voluntary effort. . Until the turn of
the millennium, CSR was primarily understood as a voluntary form of corporate social
engagement, especially in charities.2

When the future of the world is at stake and our planet faces major economic, social and
environmental challenges, companies cannot imagine their future without trying to protect the
environment in which they want to survive. This has led to the concept of combining CSR with
sustainable development and now includes sustainability and responsibility as two
1
Background for sustainable development goals, https://www.undp.org/content/undp/en/home/sustainable-
development-goals/background.html

2
Anne Huibrechtse Truijens, Sustainable Development Goals: A business perspective, DELOITTE (march. 12,
2019, 09:23A.M.) deloitte-nl-risk-sdgs-from-a-business-perspective.
complementary elements of CSR. While SDGs have a much longer history of development, there
is strong evidence to support the claim that CSR has evolved with the sustainability movement.

Companies are now beginning to realize that responsible behavior leads to long-term business
success. Sustainable development is "development that aims to meet current needs without
impairing the ability of future generations to meet their own needs". Thus, CSR is a strategy that
aims to systematically integrate the economic, environmental and social impact of business in
business management, with the aim of making the future better, or at least supporting it in the
current conditions.

INDIAN OIL CORPORATION LIMITED

Indian Oil Corporation Limited (IOCL), d / b / a IndianOil, is an Indian public sector oil and gas
company headquartered in New Delhi. It is the largest commercial oil company in the country,
with a net profit of ₹ 19,106 crore (US $ 2,848 billion) for the 2016-17 financial year. 3 It was
ranked 1st on the Fortune India 500 list for the year 2016 and 117th on the Fortune Global 500
list of the largest companies in the world in the year 2019. As of March 31, 2017, the number of
IndianOil employees is 33,135, of which 16,545 are officers. It is India's largest oil company
with a turnover of £ 5.06,428 and a net profit of £ 21,346 in 2017–18.

IOC link with SDGs4

IndianOil prides itself on its strong environment consciousness. The company's business strategy
is focused on offering cleaner conventional fuels, renewable energy sources, flawless functioning
and supply chain, energy saving and reducing industrial greenhouse gas emissions. IN the
company seeks to harmonize its activities and products to achieve India's SDG goals and Paris
Agreement.

UN Sustainable Development Goals (SDGs), through 17 lenses you paint a picture of the world
that we do want. As a responsible public sector energy company, In some cases, IndianOil makes
a significant contribution to all of the Sustainable Development Goals shape or other. We
gradually strive for mapping and adjusting the company's operations to the goals of sustainable

3
kapitalmarket.com / Company-Information / Information / Out-Companies / Indian-Oil-Corporation-Ltd / 12002
4
Indian oil coorporation, Catalysing Sustainable Growth: Sustainable Development Report
development. Direct impact on the environment, societies economic growth has been ensured
adequately for various activities.

In addition, there are many indirect benefits such as job creation, promotion of the weakest
sections of society, contribution to the whole development of the country by meeting energy
needs of a large population, positive impacts on environment, which are not monitored directly,
but rather provided as an indication as the company contribution to the SDGs.5

Indian Oil sees sustainability as an opportunity to improve its business processes and practices,
enabling a positive impact across a range of operations. The company's values lead us to believe
that responsible businesses can bring profits, leading to investments in technology and products
as well as new energy infrastructure that will help shape a low-carbon future.

We see sustainable business practices as a fundamental element of competitiveness to maintain

the company's status, fairness and reputation in the market and in society. We pay attention to
what we produce. how we buy and sell; how we affect the environment; how we recruit, train
and develop our own people, how we invest in the community and how we respect people's
rights. Indian Oil strives to develop the group's business so that long-term strategic benefits and
shareholder value are achieved by maximizing the synergies that sustainable development offers.

Our social commitment was evident even during our formative years, as we supported the
Defense Force's mission of preserving the integrity of the nation, sustained domestic fires in rural
India, fueled large transportation enterprises and worked to become a "national trust for
economic prosperity. The same commitments are being fulfilled with renewed vigor as we strive
year after year to grow our business to meet the country's energy needs and at the same time add
value to stakeholders by exploring the future of alternative fuels and engaging people in optimal
energy use.

Incentives:

At IndianOil, corporate social responsibility (CSR) has been a cornerstone of success from its
inception in 1964. The corporate goals in this key area of operation are enshrined in its mission:

5
Manfred Max Bergman et al., Corporate Responsibility in India: Academic Perspectives on the Companies Act
2013, MDPI (Feb. 06, 2021, 3:31 P.M.) //hbr.org/2007/10/climate-business-_-business-climate
"… to help enrich the quality of life of the community and maintain ecological balance and
heritage through a strong sense of the environment."

As a constructive partner in the communities in which it operates, IndianOil has taken concrete
action to achieve its social responsibility goals, thereby creating value for its shareholders and
customers6. The Corporation respects human rights, values its employees and invests in
innovative technologies and solutions for sustainable energy flow and economic growth.

IndianOil has defined a set of core values - care, innovation, passion and trust - to guide them in
everything they do. They are proud to be able to claim all compatriots as their customers. For
this reason, they have coined the term "IndianOil - India Inspired" in their corporate campaigns.
Public corporations like IndianOil are essentially organs of society that invest significant public
resources. They are aware of the need to work beyond financial considerations and put that little
extra in to ensure that they are not perceived as just big companies that exist for profit7.

6
csrworld.net/csr-activities-of-indian-oil-corporation-limited
7
indian oil corporation (Feb. 5, 2021, 11:37 A.M.) https://www.ioc.com/social-
responsibility/corporate-social-responsibility/csr-overview.aspx
IndianOil College and Sports Scholarships

IndianOil awards 2,600 scholarships to deserving students across India under the IndianOil
scholarship program for each academic year.

As part of the IndianOil social responsibility program, the program provides attractive
scholarships to outstanding students, selected on the basis of "merit and resources." Each
academic year, 2,600 scholarships covering 10+ / ITI, Engineering, MBBS and MBA first-year
students were officially announced in press announcements inviting applications for the
scholarship program. IndianOil Research.

Green initiatives

Diesel with low sulfur content (0.5%) was introduced in the subways from April 1996. Diesel
with extra low sulfur content (0.25%) was introduced in the eco-sensitive area of Taj Trapézio in
September from 1996, in Delhi from October 1997 and across the country from 1st January
2000.

Diesel with 0.05% sulfur content was introduced in the subways in 2001. Sprit unleaded engine
(petrol or gasoline) has been available throughout the country since February 1, 2000.