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UNIT-1

Corporate social responsibility :-means devising corporate strategies and building a

business with the society's needs in mind”. Social responsibility is the personal obligation of
every one as he acts for his own interests to assure that the rights and legitimate interests of
all others are not impinged
Nature of CSR:- 1) CSR is Multi-Faceted Approach: CSR involves various issues related
to society, economy and environment Activities involving CSR is affected by the changes in
the market. Therefore, to keep up with the changes, companies are required to update their
CSR activities. 2) CSR is Affirmative Concept:- CSR is not an additional activity for any
company. CSR activities cannot be separated from the business activities. It has now become
part of the activities and management of each and every company. Thus, CSR can be
understood as the affirmative concept that regulates the activities by companies themselves.
3) CSR Secures the Interest of all Stakeholders: CSR takes care of all the stakeholders of
the companies. Initially companies serve the interest of shareholders only. Shareholders were
directly related with the company's activities. Shareholders have also power to directly
influence the companies. 4) CSR is Positive Approach:- As CSR includes responsibility
which can both be understood in negative or positive sense. Responsibility in negative sense
means inability to fulfil responsibilities. 5) CSR Incorporates Legal Commitment with
Moral Commitment: Legal commitment means using laws to conform the actions of the
companies. This commitment is required to maintain minimum moral standards in the
Significance of CSR:- 1) Changed Public Expectations of Business: The most important
argument in favour of CSR is related to the foundation of the Structure called business. In the
present times, the society has evolved into understanding that businesses should fulfil their
social responsibilities in return for what they have received from the society.
2) Improved Business Environment: Businesses can thrive in a peaceful environment and
in a happy society. To fulfil CSR, businesses provide better facilities and amenities for the
society and carry out social welfare activities. 3) Enhanced Reputation: A company that
diligently fulfils CSR enjoys an excellent reputation, which translates into a large number of
loyal customers. 4) Avoidance or Minimisation of Government Regulation: Government
is 'for the people'. Hence, every government has regulations in place so that businesses act in
the public interest. 5) Balance between Responsibility and Power: Businesses generate lots
of wealth and power for themselves. Economic power can affect the lives of thousands of
people. 6) Businesses have the Resources: Businesses have vast resources in various forms:
money, manpower, managerial and other skills. A certain percentage of these can be and
should be directed towards social welfare. 7) Give Businesses a Chance: Political
organisations, NGOs, and social workers have all attempted to implement social welfare
schemes, but none of them have had any appreciable effect. 8) Moral Responsibility:
Industrialisation, centralisation of huge economic activities in urban areas, materialism, etc.,
which are the results of extensive business-centric approach. 9) Citizenship Argument: Just
like individual citizens, who have a set of rights and duties, corporations also have their own
rights and duties. 10) Duty of Gratitude: Businesses enjoy various benefits provided by
society, like manpower. Can one assign a monetary value to human labour? Hence

Principles of CSR:-Accountability:-The concept of accountability is derived from the

concept of responsibility, and hence both these terms are interrelated with each other. The
term 'accountability' can be referred to as an obligation created on the subordinates for
maintaining responsibility by the delegator of authority (superior) and ensuring that their
work performance is matching with the expectation levels. It is the responsibility of
subordinates to complete all the tasks that are assigned to them. They are accountable
towards their seniors for their satisfactory performance against the expectations of their
seniors.

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UNIT-1

2.Transparency:-Organisations are transparent when they enable others to see and

understand how they operate in an honest way. To achieve transparency, an organisation
must provide information about its activities and governance to stakeholders that is accurate,
complete and made available in a timely way. Transparency enables accountability. This does
not mean all information should be made publicly available. There are certain types of
information that may not be provided publicly such as private information (such as client
records) and 'commercial in confidence' material (such as tender submissions).
3.Sustainability:-This is concerned with the effect which action taken in the present has upon
the options available in the future. Sustainability therefore implies that society must use no
more of a resource than can be regenerated. If resources are utilized in the present then they
are no longer available for use in the future, and this is of particular concern if the resources
are finite in quantity. Sustainability therefore implies that society must use no more of a
resource than can be regenerated. This can be defined in terms of the carrying capacity of the
ecosystem and described with input output models of resource consumption.
CSR as a Key to Business Success :-Corporate Social Responsibility (CSR) is hardly a new
concept for businesses, but it is quickly becoming a pivotal component for success. For many
businesses, the primary reason to become socially responsible.
1) Attract The Right Talent: Businesses have entered a period of high competition for
labour. This means that being more engaged and socially aware is no longer just the right
thing for businesses to do, it is critical to attracting the best talent. The workforce is
beckoning for companies to take a more "hands-on" approach with their corporate social
responsibility while reacting to the continuous additions of societal issues. While pay and
benefits will always play pivotal roles in acquiring talent, addressing goals such as
community engagement, social awareness and reducing the carbon footprint is essential to
captivating new talent.
2) Attract Investors: Companies and their leaders have an obligation to shareholders to
drive value. Investors today are looking to make Socially Responsible Investments (SRI).
There is a rapidly growing trend of investor sentiment around
Environmental Social Corporate Governance (ESG) and companies are viewed favourably by
investors for making it a priority.
3) Attract Customers: Social engagement is not only the right thing to do, but it is also
becoming critical to engage new. customers. According to the Cone Communication CSR
study. 87% of consumers said they would buy a company's product because that company
advocated for an issue they cared about. As more companies move to incorporate this
responsibility into their business plans, they are discovering that CSR embodies more goals
for remedying societal issues than in the past.
Strategic Advantage of CSR:- By taking a strategic approach, companies can determine
what activities they have the resources to devote to being socially responsible and can choose
that which will strengthen their competitive advantage.
Strategic CSR provides companies with solutions for: 1) Balancing the creating of economic
value with that of societal value.
2) How to manage their stakeholder relationships (especially those with competing values).
3) Identifying and responding to threats and opportunities facing their stakeholders. 4)
Developing sustainable business practices.
5) Deciding the organisation's capacity for philanthropic activities.

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UNIT-1
Implementation of CSR:- Step 1: Approval of Top Management: The first step is
officially approving the decision to implement CSR activities. Official approval means
passing of a resolution by the Board of Directors and also getting approval of the top
management including that of the CEO. Step 2: Gather and Examine Information: The
second step for a company is to look inwards, i.e., to see if the existing product/service range,
financial resources, other activities, etc., can, as they stand now or with some modifications,
be directed towards, or tapped for, CSR activities like employee welfare programmes or
allowing the local needy persons to buy from the existing subsidised general stores of the
company. Step 3: Develop Strategy: Once the information is available, the next step is to
develop a strategy based on that information. While doing so, it is necessary to identify the
latest developed CSR instruments that can effectively implement CSR plans. All stakeholders
- managers, employees, business associates, customers, suppliers and others should be
involved in the process of strategy development. This helps strategizing with an eye on the
needs of every group of stakeholders. Step 4: Implement Strategies: After formulating
strategies, the next step is implementing strategies. This is a crucial step, since the best of the
strategies are likely to fail if not implemented in a systematic manner. This step involves
thoughtfully delegating decision-making authority, establishing proper channels of delivering
the benefits. Step 5: Reporting and Verification: Third-party verification and subsequent
reporting is essential for the company to get a proper feedback; while for the stakeholders,
Best Global Practices of CSR:- 1) Set Measurable Goals: As in every field of activity, it is
desirable to set measurable goals even in the fulfilment of CSR. Goldstein advises that an
organisation should begin with implementing welfare measures within its ambit of operation,
e.g., an organisation can implement employee welfare schemes for a definite period of time
and measure its effect on employee turnover by the number of employees who resign.
2) Stakeholder Engagement: Not keeping its stakeholders well informed, regarding various
aspects of its CSR policies and actions is not a wise step for any organisation to take. It
hinders smooth and efficient implementation of CSR initiatives, and there is bound to be stiff
opposition at some time in future, when information somehow finds its way out. Keeping
stakeholders informed allows them to voice their opinion and give valuable feedback,
especially about the effectiveness of regulations. However, in matters that are not so
important or are not under the control of stakeholders, the organisation can go ahead on its
3) Sustainability Issues Mapping: Sustainability issues mapping, according to Sir Geoffrey
Chandler, founder of Amnesty International, U.K., is the most stimulating approach. It brings
together things which ought to go together, but too frequently do not. It is very helpful during
the initial stages when plans and policies are being decided. Interactive maps are used to help
identify key issues and prioritise them. 4) Sustainability Management Systems (SMSs):
Social welfare activities, in general, have three types of impacts environmental, and
economic. SMSs are devised so as to ensure that all these three are considered together while
making key decisions social. though in order of priority, in terms of impacts and all relevant
aspects. The next step is to consider the legal aspects and the organisation's. 5) Lifecycle
Assessment: In order to build brand loyalty, product design is a vital step. An organisation
that understands its responsibilities towards its customers, designs its product in a manner
that provides customer satisfaction even after it is sold. 6) Sustainability/CSR Reporting:
CSR reporting, apart from being a part of governmental regulation, is also voluntarily
adopted by duty- conscious organisations in order to improve their efforts towards fulfilling
CSR. In order that, all stakeholders are made aware of all. 7) Sustainability Branding:
Sustainability branding is the process of creating a brand image such that the brand reflects
the additional value of the product, in terms of social or environmental benefits. In an
environment-conscious society, such a product is viewed to be more valuable than the same
product with another brand, having the same specifications except for the quality of adding

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UNIT-1
Evolution of CSR in India:- 1.Philanthropy and Charity as a driving force for CSR:-
CSR driven by charity and philanthropy are one of the oldest forms of CSR. They are mostly
influenced by tradition, religion, culture, etc.
2.CSR aiming at social development of India:-Indian struggle to freedom and approach of
Gandhi ji like amplification of social development, theory of trusteeship for consolidation,
etc. dominated the second phase of Indian CSR. Many reform programs like empowerment of
rural workers, upliftment of women, and abolition of untouchability were also one of the
most dominating elements for business practices during this phase.
3.Phase III CSR under the (1960- model of mixed 1980) economy:-During third phase,
Indian CSR was under the influence of model of mixed economy, labour legislation, and
various standards related to environment. A shift from corporate self-regulation to and public
regulation of business activities was also observed during this phase.
4.CSR between operating business approaches philanthropic approaches:- Traditional
philanthropy approach was ended by the executives and integrated/ and clear CSR with
sustainable and multi stakeholder approach was hired by the executives in the fourth phase.
SOCIALLY RESPONSIBLE MARKETING:-Marketers need to bear the responsibility
towards society. The society is not free from vices and there are a number of them, such as,
poverty, illiteracy, pollution, global warming, war, unequal distribution of resources which
need to be addressed by the marketers. In today's world of social awareness, marketers are
ready to play their part by taking initiatives for making people's living situations better. In
fact, the notion of corporate social responsibility has been recognised by most of the
companies across the globe. As marketing effects the all facets of society, so it is the duty of
the marketers to give due consideration to ethical, legal, ecological, and social aspects of their
actions.
CSR as a Marketing and Branding Tool for the Business:- Corporate businesses may not
like to admit it, but CSR is indeed part of a company's marketing strategy to build a positive
brand image among consumers. Studies have shown that consumers are more likely to buy
from companies that have good reputation. CSR provides businesses with the opportunity to
identify the ills that they are a part of, or are contributing to society or the planet at large and
address them. It begins with identifying the right social cause to address. For CSR to be
effective, it needs to be implemented in sync with your organization's brand building strategy.
This may be done either using an integrated approach or a selective approach. An integrated
approach works well when your branding is based on commitments. For example, a retailer
that promises pesticide-free organic vegetables to consumers may invest in CSR activities
that promote chemical-free farming techniques. The selective approach on the other hand is
ideal for businesses with multiple brands and products. In this strategy, businesses may tie in
specific brands with their CSR activity in order to drive usage and adoption.
Corporate Citizenship :- Corporate Citizenship (CC), a term often confused with Corporate
Social Responsibility (CSR), is a far broader concept than CSR. CC directly engages the
company's business model and can be defined as companies living up to clear constructive
visions and core values consistent with those of the broader societies within which the
company operates, respecting the natural environment, and treating well the entire range of
stakeholders. A company's corporate citizenship includes passive acts such as avoiding
pollution or positive acts such as building a park near its factory. A company may engage in
corporate citizenship for charitable or philanthropic reasons, but may also do so to protect its
profits. That is, a company known for poor corporate citizenship is more likely to invite
boycotts or to drive away potential customers. Corporate citizenship is increasingly
instrumental in defining the role of business in society. As the issue of integrating broader
economic, environmental, and social concerns into evaluating corporate performance gains
prominence, proper understanding of what it means for a company to be a good citizen

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UNIT-1
Concept of Charity :- Charity comes from the old French word Chrité and means,
"Providing for those in need: generosity and giving". The practice of charity involves giving
money, goods or time to the unfortunate, either directly by means of charitable trust or other
worthy causes. The concept of charity means the help done to the needy by providing means
of necessities either money or food or any other required thing. The charity is mostly done for
a specific person and their needs.[ Charity is an empathetic response to an immediate crisis or
need. Charity is how we show compassion for people displaced by natural disasters, or our
support for victims of crime or violence. Charity is the spare-change we leave in jars so sick
kids get the medical help they need, or the extra dollar we give to help provide clean drinking
water to villages in third world countries. Essentially, charity is the hands on response to
helping meet immediate needs like food, shelter, medical care, and the like. Charity and
philanthropy are sometimes used interchangeably, but there are noticeable differences.
Charity is impulsive, emotional and often temporary in terms of solving the issue. We give a
coat or a meal to a homeless person but that is not solving the problem it is a fix for the
moment. Philanthropy is a much broader concept that looks to get to the root of the problem
and find solutions. Those who are charitable give always, even when they have little, but
when they have more and seek to up their game they start to connect with philanthropy.
There is also a place for both, whether you consider yourself a philanthropist or not. Each of
us has a choice of where we want to make the most impact, including the ratio of charity and
philanthropy we want to engage in. Basically, charity and philanthropy both seek to
accomplish the same outcome - to address needs and make the world a better place - but the
method that philanthropic entities and charitable entities each use to reach that outcome is
different. Charity refers to the direct relief of suffering and social problems.
Concept of Corporate Philanthropy :- The origin of the word Philanthropy comes from the
Greek language that translates to: "Love of mankind". A more modern definition is "private
initiatives for the public good which combines an original humanistic tradition with a social
scientific aspect". The concept of philanthropy is not just giving away the donations but also
finding the root cause of the problem prevailing in the society. Either by taking it as a mission
to get it resolved by self or asking the government or concerned authority to take care of it.
Corporate philanthropy and corporate social responsibility are similar concepts that often
overlap in practice. In fact, the relationship between CSR and philanthropy are often barely
distinguishable from each other. as the terms are sometimes used interchangeably. Often,
philanthropy is integrated into a bigger picture corporate social responsibility plan. Both are
positive concepts designed to deliver corporate resources to the community the corporation
serves, and the giving may also be aimed towards specific causes. The divide between
philanthropy and corporate social responsibility is pretty clear when you take a hard look at
the context for each, and when both are practiced simultaneously by corporations. The
difference between philanthropy and charity is less clear, and the terms often have greater
Importance of Corporate Philanthropy. Importance of corporate philanthropy to business
is:-1) It helps in building companies reputation. 2) It provides various health benefits.
3) It also protects businesses local community. 4) It helps in enhancing the morale of
employees 5) Helps in building public relation. 6) It also provides various marketing benefits.
7) It helps in supporting important causes and organisations
OECD PRINCIPLES AND CSR:-The OECD (Organisation for Economic Cooperation and
Development) was amongst the pioneer NGOs which laid down the rules and methods for
organisation to deliver long-term value to their shareholders. In many ways, the OECD
principles are considered as the best management practices similar to the Codes of Best
Practices related to the Cadbury Report. The first step that is needed to be taken is to
understand the principles as laid down by the OECD and which are being followed diligently
by the various Governments. The OECD principles have been able to define corporate

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UNIT-1
Difference between Philanthropy and Charity:- Philanthropy and charity are easy to
confuse, and the lines are often blurred. 1) The main difference is that Charity aims to relieve
the pain of a particular social problem, whereas Philanthropy attempts to address the root
cause of the problem. An example is the difference between sending painkillers to malaria
patients, which is charity, versat educating the public in affected areas or supporting medical
research teams in finding a cure for malaria, which are philanthropy.2) Charity tends to be a
short-term, emotional, immediate response, focused primarily on rescue and relief, whereas
philanthropy is much more long-term, more strategic, focused on rebuilding. There is charity,
which is good, and then there is problem-solving charity. which is called philanthropy.
3) Charity has a strong correlation with donations, charitable giving, children, charity ratings,
and charity organisations. Philanthropy correlates with searches related to managing,
creating. knowledge, research, and organisation 4) Charity addresses immediate needs
philanthropy is how we achieve our greater missions. Delivering bottled water to a drought-
stricken village in East Africa is charity, but philanthropy is building a well. 5) Charitable
giving is a direct donation from the corporation to the charity. There are no strings attached
and the charity can be any non-profit cause. Philanthropy involves a cause that is attempting
to solve a problem.
CSR through Sustainable:- 1) Sustainable Business is Futuristic While CSR is
Antiquated: It is very easy to notice that business sustainability talks a lot about the future,
forward thinking plans to sustain a business and improve targets, for instance, waste
reduction and innovative brand . 2) CSR is About Current While Sustainable Business is
for Long- term: Many CSR projects satisfy a present community need, but they don't always
address the underlying issue. The oil company that builds a health care centre for a
community would not take into consideration the efforts and resources required by the local
government to sustain that centre by continuously paying the fees for the health workers,
maintaining the equipment and facilities, managing logistics and storage of medicines, etc. 3)
CSR doesn't Align with the Business, but Business Sustainability do: Many businesses
carry out their CSR initiatives by identifying an issue in the community, and providing
something to help ease the issue. But these initiatives don't always align with the strategy of
the business. This increases the risk of the initiative being perceived as green washing, or as
short-term with no long lasting positive implications. 4) CSR is External While Business
Sustainability is Both Internal and External: When companies carry out CSR, more often
than not, they aim it at external stakeholders. For example, it would be odd to hear an
organisation call an improved employee welfare system or a replacement plan for energy
saving bulbs a CSR project. Most times, CSR projects are targeted at specific
Elements of OECD Principles:- 1) Rights of Shareholders: The shareholders have many
rights. They can take ownership of the shares that they buy, they have the right to get
complete information,. 2) Equitable Treatment of Shareholders: The OECD also tries to
initiate steps that protect the interest of the minority shareholders and sets up processes and
systems which can prevent the employees from using their positions for wrong deeds. 3) Role
of Stakeholders in Corporate Governance: The OECD also gives credit to the other
stakeholders of the organisation. These can include the banks, debenture holders, workers,
etc. The OECD also lays down the rules regarding the safeguarding of the interests of other
stakeholders of the organisation. 4) Disclosure and Transparency: The OECD identifies the
various types of information that has to be shared by the company to ensure total
transparency in the operations of the company. These include facets like financial
information, remuneration paid to the Directors of the company including stock options, etc..
5) Responsibilities of the Board: The OECD also says how the board should be constituted
and what kind of responsibilities it should have, especially regarding the rights of the
minority shareholders. It also talks of corporate strategy, risk management systems

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UNIT-2
Section 135 of Companies Act, 2013:- To replace Companies Act 1956. Indian parliament
on august, 2013 introduced a new act for company that is Companies Act, 2013. A huge
impact of this new act was observed which affected the formation of the company, its
administration and governance, and a greater power was given to shareholders in the board
decisions. 1) Every company having net worth of rupees five hundred crore or more, or
turnover of rupees one thousand crore or more or a net profit of rupees five crore or more
during any financial year shall constitute à corporate social responsibility committee of the
board consisting of three or more directors, out of which at least one -director shall be an
independent director. 2) The Board's report under sub-section (3) of section 134 shall
disclose the composition of the corporate social responsibility committee. 3) The corporate
social responsibility committee shall: i) Formulate and recommend to the board, a corporate
social responsibility policy which shall indicate the activities to be undertaken by the
company as specified in Schedule VII; 4) The Board of every company referred to in sub-
section (1) shall: i) After taking into account the recommendations made by the corporate
social responsibility committee, approve the corporate social responsibility policy for the
company and disclose contents of such Policy in its report and also place it on the company's.
5) The Board of every company referred to in sub-section (1), shall ensure that the company
spends, in every financial year, at least two per cent. of the average net profits of the
company made during the three immediately preceding financial years, in pursuance of its
Corporate Social Responsibility Policy.
Scope of CSR Activities Under Schedule VII :-The Company will support programs and
activities as mentioned under Schedule VII of the Companies Act, 2013 and also such other
activities including but not limited to the following: 1) Eradicating hunger, poverty and
malnutrition, promoting health care including preventive health care and sanitation including
contribution to the Swach Bharat Kosh set-up by the Central Government for the promotion
of sanitation and making available safe drinking water, 2) Promoting education, including
special education and employment enhancing vocation skills especially among children,
women, elderly and the differently abled and livelihood enhancement projects; 3) Promoting
gender equality, empowering women, setting up homes and hostels for women and orphans;
setting up old age homes, day care centres and such other facilities for senior citizens and
measures for reducing inequalities faced by socially and economically backward groups;
4) Ensuring environmental sustainability, ecological balance, protection of flora and fauna,
animal welfare, agro forestry. conservation of natural resources and maintaining quality of
soil, air and water including contribution to the Clean Ganga Fund set-up by the Central
Government for rejuvenation of river Ganga: 5) Protection of national heritage, art and
culture including restoration of buildings and sites of historical importance and works of art;
setting up public libraries; promotion and development of traditional art and handicrafts;
6) Measures for the benefit of armed forces veterans, war widows and their dependents;
7) Training to promote rural sports, nationally recognised sports, paralympic sports and
olympic sports; 8) Contribution to the prime minister's national relief fund or any other fund
set up by the central govt. for socio economic development and relief and welfare of the
schedule caste, tribes, other backward classes, minorities and women; 9) Contributions or
funds provided to technology incubators located within academic institutions which are
approved by the central govt. 10) Rural development projects; 11) Slum area development
Triple Bottom Line :- The environment in which business operate is very dynamic and in
such a dynamic age 'sustainability' acts as a very important component. It provides
competitive advantages to the organisation in the field of finance, environment protection and
societal welfare. The model of Triple Bottom Line implies that only economic benefits are
not the base to describe the organisational success but the attitude of organisation towards
social and environmental welfare also describes a success of an organisation.

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UNIT-2
1.People (Social) :-There are two dimensions of CSR. Internal dimension consists of
employees and workers, whereas external dimension consists of society surrounding
business. This dimension is concerned with building healthy relation with labours, enhancing
care for labours, giving employees the chance to perform their personal and family
responsibility, raising the involvement of backward section of society. 1) Rights of Workers:
The rights of workers must be kept safe. Workers of organisation have many rights like
freedom from forced labour, 2) Right to Life: Under section 2 of Human Rights Act, workers
and employees have right to life. 3) Right to Work: Under right to work, employees have
right to receive technical training, he/she has protection against unfair dismissals. 4)
Development Rights: Right to education, right to clothing, right to housing, right to enjoy
technical development, right to have adequate food, etc. 5) Right to have Freedom of
Thought, Expression, Religion, and Opinion: Employees have freedom to thought and
expression, right to follow any religion, and right to hold opinion. 6) Right to Privacy: Right
to privacy is also offered to employees. They have rights that their personal information
cannot be used anywhere without their knowledge. 7) Right to a Family Life:
Employees have a right to live their family life. 8) Right to Participate in Political Affairs:
Employees have the right to fully participate in political and public decision-making. 9) Right
to Peaceful Assembly: Employees have the right to peaceful assembly under which they have
right to hold a peaceful protest and to express their views publicly.10) Right to Information:
Employees have the right to get informed and nothing can be done without their
2.Planet (Environmental):- Planet means the Earth where people live. Since, nature offers
many resources which are used by organisation for their production purpose, thus they owe
some responsibility toward nature. Ecological dimension of CSR is concerned with welfare
of environment. With an objective to control adverse impact of business on environment, this
dimension has now moved ahead from the technology of 'end-of-pipe' to the process-
1) In-situ and ex-situ conservation is involved. In case of in-situ, the conservation of species
is done in their natural environments whereas ex-situ conservation of species is done outside
their natural environments. Further, these conservations involve the use of genetic material
and transfer of technology. 2) As a precautionary principle, any such act which could have an
adverse impact on environment should be withdrawn. 3) Utilisation and implementation of
Genetically Modified Organisms (GMOs) because in GMOs, genetic materials are modified
or altered through genetic engineering techniques. 4) Keep a check on the effect of
greenhouse gases on global warming and environment. 5) Have concern for the protection of
ozone layer as given under Montreal Protocol. 6) Restricting the use of hazardous chemicals
and substances and ensuring safe transport of the same through different modes. 7) Factories
are to be located at a good distance from societies or places where people live. -8) Keep a
check on soil pollution, groundwater and surface water contamination. 9) Controlling
wastage of water and treatments of waste water to purify it for further use. 10) Prevention of
water leakage and contamination.
3.Profits (Economic):- Profits entail many activities. It involves the creation of goods and
services while at the same time leads to the generation of employment opportunities. Profit is
one of the most important goals of an organisation. The economic benefit of an organisation
not only reflects the efficiency and dedication of its personnel toward production but also
helps investor to evaluate the organisational performance. 1)Creation of asset and
opportunities for economic and financial growth. 2) Avoiding conflict of interest, preventing
corruption and acts of bribery among different organisational members while maintaining
business ethics. 3) Economic effect of implementing power on payment of tax, organisational
investments, customers, suppliers, etc, and also the impact of geographic economics on the
society. 4) To keep a control over financial effect of different business activities like
innovation, outsourcing, knowledge, etc. 5) Providing economic support to the political

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UNIT-2
PUBLIC SECTOR :-Public enterprises mean state ownership and operation of industrial,
agricultural, financial, and commercial undertakings”. At times, the public sector is called
state sector. It is that division of the state which handles the processes, such as production,
supply and allotment of the products and services to the government sector or public at
regional, national or local levels.
Role of Public Sector in Corporate Social The public sector has a number of distinct roles
to play in the CSR Responsibility agenda:- 1) Endorsing and supporting the concept of CSR
in enterprises 2) Adhering to good CSR practice in its own operations 3) Relevant regulatory
roles The public sector delivers many services in the community and environment and has
various regulatory roles. These are part of their policy remit and separate to CSR activity. All
public bodies exist to provide a service to the public or communities. They have a complexity
and variety of functions, but all provide a service and are responsible to different sets of
stakeholders. The very nature of public service reflects many principles of social
responsibility accountability, transparency and respect for differing stakeholder's interests.
The public sector also has a leadership role to ensure that its own way of operating is in line
with good CSR practices in its multiplicity of roles as employer, purchaser, service provider,
and in its engagement with communities. The public sector also has various regulatory roles
that are relevant to CSR.
Role of Non-Profit Organisation and Local Self-Government in Implementation CSR:-
Most of the business organisations are in the initial stages of the process of partnering with
NGOS. Yet, many new as well as old companies are making an effort in order to reduce the
gap between fortunate and deprived classes of India by fetching financial and human
resources along with systems approach of performing a job. It can be observed through
historical patterns that such businesses identify how important role businesses play in
development of nation and for this they also establish positive relations with NGOs. But,
short- term disturbances in business environment, inefficient NGOs, etc., sometimes reduces
the influence. The companies that collaborate well with NGOs, government, and other civil
societies, have an opportunity to take growth and development of India to the next level. By
using and diverting expertise and resources, an organisation can also make other sectors
capable and then work together in order to resolve most challenging issues of the society.
Transparency and professionalization is required in the processes of NGOs, but for instituting
these practices they may need the assistance of businesses. The businesses which have
idealistic image in the market can exploit this opportunity by partnering with NGOs and
government and can take advantage of growth prospects of India. Such efforts can make sure
that India can earn the position of superpower. The role of NGOs in taking the sustainable
issues on global platform is appreciable. The discussions among representatives of various
countries on sustainable issues and on arriving common solutions to those issues are
facilitated by NGOs and campaigning groups. Some of such issues that are discussed on
global level are abolition of the practice of slavery. ban on landmines, control on hazardous
LEADERSHIP AND CSR:-The 21" century world is shaped by leaders. Keith Grint
considers that "Leadership, or the lack of it, seems to be responsible for just about everything
these days". Leadership is a very complex concept. Over time, many definitions have been
developed and there is no consensus on a universally agreed definition. There are "almost as
many definitions of leadership as there are persons. In order to build a sustainable world,
intersection of ethics and leadership is a must. Leadership has a vital role in promoting an
ethical and moral behaviour. Moreover, leaders should be models for the followers and
should aim to shape organizations by their own values and characteristics. Employees rely on
their leaders for guidance when faced with ethical dilemmas. Leader's behaviour should be
"visible and consistently ethical, both internally and externally to the organization".
Moreover, "excellent companies do more than talk ethics, they take positive steps to address

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Identifying Key Stakeholders of CSR:- 1) Responsibilities towards Shareholders (or
Owners): In case of joint stock companies, the shareholders as one unit are the owner of a
company. There are thousands of shareholders of a company, who appoint individuals as
directors on the Board o Directors, which constitutes the Management of the company.
i) Reasonable Dividend: The interests of shareholders lie in good dividend and handsome
appreciation in the value of the shares they hold in the company. A responsible company
takes care of these interests; on the other hand, there are fraudulent companies that
misappropriate the money of the shareholders. ii) Soundness: A responsible management sees
to it that its financial status is sound and it has a promising growth record. 2) Responsibilities
towards Workers/Employees: Employees are the human resources of a company, and as such
deserve a humane attitude on the part of the management of a company. i) Pay Fair Wages: A
company should regularly pay reasonable wages to its employees and revise the same from
time-to-time as inflation rises. This enables employees to enjoy a satisfactory standard of life.
ii) Provide Good Working Working Conditions: Conditions: A responsible management
provides good working conditions for its employees. This is a basic right, as well as a
necessity to maintain sound physical and mental health.iii) Provide Adequate Service
Benefits: Service benefits include adequate house rent and medical 3) Responsibility
towards Customers: A company stands with its head held high because of a large number of
satisfied customers; after all, the company gets its profits from the sale of its goods or
services. For being satisfied, a customer needs the best possible quality at the lowest possible
price i) Need Satisfaction: Are the goods of the company made to cater to the needs of the
customers, or does the company manufacture goods for its profits and then coax people into
buying these goods in spite of the fact that they do not need these goods. ii) Regular Flow of
Goods: The management should ensure regular supply of quality goods at affordable prices.
Disruption in the supply of goods may cause hoarding and spiralling up of prices, iii)
Courteous Service: Courteous behaviour while selling, ie, courteous salesmanship.
4)Responsibilities towards Suppliers: Suppliers supply materials as raw material input or as
component input to manufacturers and traders, mostly on credit terms. A company that buys
these from suppliers has the responsibility to pay the agreed amount within the agreed time
period and behave courteously with them.i) Being precise about the specifications of goods
ordered. ii) Contracting with the suppliers on fair terms and conditions. iii) Informing about
changes in specifications fairly in advance. iv) Paying the agreed amount within the agreed
time period. v) Keeping the suppliers informed about future plans. 5) Responsibility towards
Creditors: Apart from suppliers, a company has other creditors like banks and financial
organisations that have provided loans to it. The company has the following responsibilities
towards such creditors: i) A company should furnish accurate information about its financial
status, including its assets and liabilities; about other loans availed of; its suppliers; its major
customers; etc. ii) A company should repay loans promptly and in any case never after the
due date. For delayed return of the loan, it should pay interest at the agreed or reasonable rate.
iii) Even after receiving the loan amount, the company that has received the loan should not
behave arrogantly .6) Responsibilities towards Government: Apart from those laws of a
country that are commonly applicable to one and all, there are laws that are specifically
applicable to certain sectors of business’) To obey the laws of the countries in which they
operate. ii) To honestly pay all government taxes within the stipulated time. iii) To shun all
corrupt practices while dealing with the government.7) Responsibilities towards
Society/Community: Following are the responsibilities of businesses towards society’s
Socioeconomic Objectives: A society's socioeconomic objectives broadly include social
welfare and economic welfare of its underprivileged individuals. It is the responsibility of
every company.ii) Improvement of Local Environment: Responsible management should
ensure that (i) its operations do not pollute the environment. iii) Employment Opportunities:

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Contemporary Issues and Hurdles in CSR:- Many companies think that corporate social
responsibility is a peripheral issue for their business and customer satisfaction more important
1) The Shrinking Role of Government: In the past, governments have relied on legislation
and regulation to deliver social and environmental objectives in the business sector.
2) Demands for Greater Disclosure: There is a growing demand for corporate disclosure from
stakeholders, including customers, suppliers, employees, communities, investors, and activist
organisations. 3) Increased Customer Interest: There is evidence that the ethical conduct of
companies exerts a growing influence on the purchasing decisions of customers. In a recent
survey by Environics. 4) Competitive Labour Markets: Employees are increasingly looking
beyond pay checks and benefits, and seeking out employers whose philosophies and
operating practices match their own. 5) Supplier Relations: As stakeholders are becoming
increasingly interested in business affairs, many companies are taking steps to ensure that
their partners conduct themselves in a socially responsible manner. 6) Narrow Perception
towards CSR Initiatives: Nongovernmental organisations and Governmental agencies usually
possess a narrow outlook towards the CSR initiatives of companies. 7) Lack of Community
Participation in CSR Activities: CSR, the term is a combination of Corporate and societies
responsibility in together. However, there is a lack of interest of the local community.
8) Non-availability of Well Organised Non-governmental Organisations: It is also reported
that there is non-availability of well-organised nongovernmental organisations in remote and
rural areas that can assess and identify real needs of the community. 9) Visibility Factor:
Communication in the right sense, of the right act, to the group of right people leads to
success and motivation to perform perpetually. 10) Lack of Consensus on Implementing
CSR Issues: There is a lack of consensus amongst local agencies regarding CSR projects.
This lack of consensus often results in duplication of activities.
Current Trends in CSR:-The trends in the role played by the CSR in the overall branches of
the Indian economy get the push from within the nation itself and the international
organisations such as the United Nations Development Plan. Transparency serves as one of
the trends brought about by the implementation of the CSR policy within the private business
community India where corporate organisations want to be clear on their operations to void
risks. The risk at hand from business cover all the social issues paced under the CSR policy
including the environmental problems such as depleted resources and social issues such as
human and workers' rights. These two items that in the past were not known to be related to
businesses in India have come to occur together with a critical factor in the operations of
companies. Alternative trends that remain in the push for the Indian economy include the
need for clean energy that leads to a safe environment for everyone. Moreover, businesses
such as the professional ghost-writing services have realised the importance of the CSR as a
strategy toward the empowerment of the society as charity and not as handing out cheques for
the sake of recognition.
1) Demands for Disclosure: Partly in response to heightened regulatory oversight, partly as a
result of ever-increasing availability of almost instantaneous information and partly due to
consumer and shareholder demands,.
2) Creation of New Resources: Gone are the days of rampant resource usage without any
accountability or thought toward replenishment. As available natural resources are rapidly
depleted, 3) Global Companies Acting Locally: Even companies that operate on a global
level are recognising the value of local markets and supply chains. Also, corporate social
responsibility initiatives actively attempt to engage in activities that benefit local
communities. 4) Investing in Employees: As the issue of economic inequality rises to the
forefront of many political debates, so does the issue increasingly press upon corporations.
Recognition of inequalities in pay and economic burdens of employees.

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Opportunities in CSR:- The various opportunities that a business gets from CSR are as
follows: 1) Upgrade the image of the Company: The maximum benefit that a corporation
can obtain by implementing CSR policies is that of an increased in goodwill value. This
serves a dual purpose - Firstly. 2) Loyalty of Employees: Companies having concrete CSR
commitments find it easier to recruit and retain employees. People want to work for
companies that care about the well-being of their employees and provide good working
conditions.3) Governing Authorities become less aggressive: Governing authorities will not
examine a corporation with strong CSR programs as much as companies without CSR
programs. The establishments will be lenient in their rules because they feel. 4) Appeals
Investment from Different Sources: A company's image plays a huge role in attracting
investors. If the company is engaged in CSR programs, its image gets a massive boost and so
people invest in its operations heavily. 5) Production of Hygienic Energy from
Environmental CSR: If the firm has invested in an environmental CSR program, it will make
assured that its operations do not damage the environment in any way. 6) Positive Publicity:
A popular business principle is that any publicity is good publicity. You should know to the
people to sell your product. A good CSR program will always give good publicity and even
act as an advertisement for the company.
CSR and Business Ethics:- 1) Business ethics is concerned with implementation of moral
values. whereas, corporate social responsibility refers to values and beliefs based on
strategies and plans involving a class of stakeholders. 2) Business ethics refers to a part of
social responsibilities of business whereas, a corporate social responsibility implies
responsibilities of firm to maximise its positive impacts and minimising the negative impacts.
3) Business ethics consists of standards, and principles that govern the attitude of business
toward the other world. Its actions are judged to be ethical or unethical and this judgement is
based on social acceptance and rejections. Whereas, CSR is the decision of stakeholders that
social, ethical, charitable, and economic responsibilities placed by different stakeholders will
determine the extent to which business citizenship is exhibited by the firm.
4) Business ethics involves the principles which include conscious and planned regulations or
inquisitive of business behaviour that directs decision-making, whereas, corporate obligations
can be considered as a commitment with society. 5) Business ethics comes into existence
when business actions are good for business but not for society, whereas, CSR comes into
existence when business actions are good for society but may or may not good for business.
6) To a great extent business ethics is morality, whereas, CSR is policy and responsibility
CSR AS A STRATEGIC BUSINESS TOOL FOR DEVELOPMENT SUSTAINABLE :-
The heightened consumer awareness about environmental issues, coupled with tightening
government regulations has ensured that companies look for innovative ways to meet their
social responsibilities. As per the provisions of Companies Act 2013, all public as well as
private companies with a turnover of over Rs 1,000 crore or net profit of Rs 5 crore are
obligated to spend at least 2% of the average net profit for the last three years on CSR
activities.The primary objective of Sustainable Development is to reduce the absolute poverty
of the world's poor through providing lasting and secure livelihoods that minimise resource
depletion, environmental degradation, cultural disruption and social instability.".CSR may be
directly related to main activities or consist in peripheral activities loosely or not at all linked
with core businesses. For example, Toyota participation to reforestation projects in China are
outside of its main activities but they involve a number of employees of the company,
requires managerial decisions, implies technological transfers, may lead to the development
of specific techniques to achieve result, and have an impact on the level of skills and
knowledge of employees and locally. Involved manpower. Therefore, it can be considered as
CSR activity although a number of companies would still call it philanthropy or a.

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Effect of Globalisation on CSR:- Corporate social responsibility (CSR) of business activity
is strongly influenced by globalisation, particularly through the change and erosion of
national political power. CSR has four kinds of social responsibilities, economic, legal,
ethical, and philanthropic. These four components of CSR might be represented as a pyramid
with economic responsibilities - and profit motive as the primary incentive underpinning all
other business responsibilities. Globalisation to a great extent promotes this evolution of
corporate social responsibility all over the world. In one hand, globalisation further makes the
public and organisations recognise and understand the negative consequences, such as the
increasing income inequality, the exploitation of labour, and environmental unsustainability.
Since multinational corporate and their business further deepen this trend of the negative
consequences, corporate responsibility is paid more attention to by the public In accordance
with the theoretical perspective, there are two aspects of the effect of globalisation on
corporate social responsibility. First, economic growth not only makes the public and national
governments concentrate on welfare augmentation and its benefits for the society, but also
makes them recognise that economic development is the consequence of the combination of
social, economic and moral implications. In ideal environment, economic growth will provide
the equal distribution of income and welfare, the respect and protection of human rights and
other aspects, which all people will share. However, globalisation to a certain extent further
intensifies the phenomenon on inequality. During this process, who to be responsible for the
balance between economic growth and inequality is considered as the significant path of
coping with the negative consequences of globalisation. This study argues that governments,
firms, consumers are described as the principal undertaker. For firms, they are significant
undertakers responsible for the public and social interests and moral issues
CSR FUNDS :-Corporate Social Responsibility (CSR) is the funding and grants process
under which Non-Profit Organisations (NGOs) can get financial and other support from the
corporate sector. The company also has a Corporate Social Responsibility Committee of the
Board. The funds provided under CSR are for social development issues and make a positive
impact on the living standards of the economically poor and disadvantaged people of society
so they can live a productive and dignified life.
Criteria for CSR Funding:-Every qualifying company requires spending of at least 2% of
its average net profit (Profit before taxes) for the immediately preceding 3 financial years on
CSR activities in India. Further, the qualifying company will be required to constitute a
committee (CSR Committee) of the Board of Directors (Board) consisting of 3 or more
directors. Section 135 of the Companies Act 2013 provides the threshold limit for
applicability of the CSR to a Company: 1) Net worth of the company to be Rs 500 crore or
more; or 2) Turnover of the company to be Rs 1000 crore or more; or 3) Net profit of the
company to be Rs 5 crore or more. Further as per the CSR Rules, the provisions of CSR are
not only applicable to Indian companies, but also applicable to branch and project offices of a
foreign company in India.
Clause 135, Companies Act, :- Under 135 (1), every company having net worth of rupees
five hundred crore or more, or turnover of rupees one thousand crore or more or a net profit
of rupees five crore or more during any financial year shall constitute a Corporate Social
Responsibility Committee of the Board consisting of three or more directors, out of which at
least one director shall be an independent director. Under 135 (2), the Board's report should
disclose the composition of the CSR Committee. 1) Eradicating extreme hunger and poverty
2) Promoting education 3) Promoting gender equality and empowering women 4) Reducing
child mortality and improving maternal health 5) Combating human immunodeficiency virus,
acquired immune deficiency syndrome, malaria and other diseases 6) Ensuring environmental
sustainability 7) Enhancing vocational skills 8) Promoting social business projects

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Sustainable Development:-The primary objective of Sustainable Development is to reduce
the absolute poverty of the world's poor through providing lasting and secure livelihoods that
minimise resource depletion. environmental degradation, cultural disruption and social
instability. In common parlance, sustainability means the capacity to endure. In ecology, it is
a term describing how biological systems remain diverse and productive over a period of
time. For human beings sustainability should be understood as the potential for long-term
maintenance of well-being, which in turn rests with the well-being of the natural world and
the responsible use of natural resources.
Need for Sustainability:- The need for sustainability is as follows: 1) To prevent
unnecessary and excessive wastage of natural resources. 2) To use energy productively and
make a significant improvement in the quality of human life .3) To shift the use from non-
renewable to renewable sources of energy. 4) To reduce the consumption of renewable
energy sources to the point where they can be generated again and replenished. 5) To
promote fairness and equity in resource utilisation. 6) To initiate steps to protect the
ecosystem. To consider environmental and economic aspects in decision- making. 8) To
reduce wastage in the usage of non-renewable resources and promote recycling of waste, 9)
To fulfil international laws and regulations related with environment. 10) To mitigate waste
and pollution and bring them down to levels which are bio-degradable and manageable.
Education for Sustainable Development:- Education is an essential tool for achieving
sustainability. People around the world recognise that current economic development trends
are not sustainable and that public awareness, education, and training are key to moving
society toward sustainability. Beyond that, there is little agreement. People argue about the
meaning of sustainable development and whether or not it is attainable. They have different
visions of what sustainable societies will look like and how they will function. Education is
the means through which sustainable development can be achieved. It enables people to
develop the knowledge, values and skills to participate in decisions about the way they do
things, individually and collectively, locally and globally, that will improve the quality of life
now without damaging the planet of the future. Education for sustainable development has
four major thrusts: 1) Promotion and improvement of basic education. 2) Re-orienting
existing education at all level to address sustainable development. 3) Development public
awareness and understanding of sustainability. 4) Training and skills development for the
world of work. In this way sustainable development depends upon the provision of
specialised training programmes to ensure that all sectors of society have the skills necessary
to perform their work in a sustainable manner.
Philosophical Development of Sustainability :- Today, the conservation approach continues
to be the dominant environmental philosophy of the 21" century, its current reincarnation
being "sustainable development". Over the course of history, many cultures and indigenous
peoples have recognised the need for harmonisation among the environment, society and
economy. The roots of sustainable development thinking can be found in two separate
environmental philosophies that have been worked out in the last quarter of the 20th century.
The first is environmental economics. Considering that environmental damage quite often has
its genesis in economic activities, it is hardly surprising that economists also hypothesise
about how the environmental crisis can be resolved. Their approaches, however, vary. The
dominant strand of thought in this area has emerged from the school of neo-classical
economics, whose proponents argue that environmental problems can be accommodated
within the existing framework of public decision-making and by applying standard economic
principles to facilitate these processes. Fundamentally, economic thinking is not antithetical
to human well-being, and it is driven by the need to show how human can guarantee the
maximum good for the maximum number of people. The basic philosophical stance of
proponents of environmental economics is that environmental issues can be accommodated

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Philosophical Development of Sustainability feconomic thinking and, hence, they aim for
continuous economic growth. That is to say, such thinking requires that the environment be
viewed as a set of commodities, like all other goods and services, valued by individuals in the
society. Traditionally, the value ascribed to environmental commodities has been zero as they
are normally available to us free of charge. Nature's largesse is, however, often abused. To
ensure that it is assigned a proper value within the neo-classical economic paradigm, prices or
monetary values must be placed on the goods and services to be had from the environment.
At this stage in the thinking process, it is easy to deal with these concerns within the
framework of existing economic principles.
Gandhian Thought on Sustainable Development:- Some of the central planks of the
Gandhian model of sustainable development are as follows: 1) The Gandhian perspective is
non-materialistic, non-violent, harmonistic, egalitarian and value-driven. 2) These values
highlight the virtue of simplicity of social and inner peace, the sanctity, necessity and dignity
of manual labour, and the valuation of the spiritual and the moral over the sensual and the
material planes. 3) The central unit is the eternal village and villagers, who are deemed to be
reservoirs of what is intrinsically valuable in society. 4) Village-level self-sufficiency is an
objective. Gandhi's vision of sustainable development challenges the basic assumptions that
the Capitalist model of development makes about the use of nature and natural resources, the
meaning of growth, progress and development, the ways in which society is governed, and
the formulation and implementation of public policy.
1) Swaraj: Mainstream economics makes the common completely helpless in the matter of
production and distribution of man resources. Gandhi visualised an alternative through the
system Swaraj. Swaraj is necessary for the liberation of weaker economies of from the
commanding position of neoliberal capitalism. There is need for a new conceptual framework
in which each country attains economic Swaraj.First, Gandhi gave adequate importance to the
traditional sector. Highest priority is given to agriculture and agro-centric industries. The
balance between primary, secondary and tertiary sectors should be skilfully maintained, on
the basis of available human resources. Secondly, villages must get more importance than
cities. Gandhi observed - "You cannot build non-violence on a factory civilisation, but it can
be built on self-contained villages. You have therefore to be rural-minded, and to be rural-
minded, you have to have faith in the spinning wheel".
2)Swadeshi: Gandhi was a champion of Swadeshi or home economy. People outside India
know of Gandhi's campaigns to end British colonialism, but this was only a small part of his
struggle. The greater part of his work was to renew India's vitality and regenerate its culture.
For Gandhi, the soul and spirit of India rested in its village communities. He said - "The true
India is to be found not in its few cities but in its seven hundred thousand villages. If the
villages perish, India will perish too".
3) Trusteeship: Gandhi's efforts towards "spiritualising economics" are reflected in his
concept of Trusteeship. He based the concept on the first sloka of the Isopanishad, according
to which one is asked to dedicate everything to God, and then use it only to the required
extent. In other words, in the first instance, everything must be surrendered to God, and then
out of it, one may use only that which is necessary, according to one's strict needs. The spirit
behind this concept is detachment and service.
4)Aparigraha: Since 1987 when the World Commission on Environment and Development
(WCED) of the United Nations, chaired by Mrs. Gro Harlem Brundtland, submitted its report
'Our Common Future', the idea of Sustainable Development has become a buzzword in the
discourse on international development. According to the Brundtland Commission Report,
"Sustainable Development is development that meets the needs of the present, without
compromising the ability of future generations to meet their own needs"

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Sustainable Development and Social Framework:- Social sustainability comprises legal,
political, societal, administrative and institutional frameworks and processes, which engage
the society harvesting and use of the resources for attaining development. Evolving
appropriate institution and creating compatible socio-political climate different levels for
implementing ecologically and economically sustainable model is a prerequisite for
sustainable development d natural resource.1) Active participation of people in
developmental process. 2) Empowerment of peoples especially the women, weaker and
marginalised section. 3) Accountability of government to public in making social policy 4)
Duties of citizen in maintaining the natural capital. 5) Responsibility of government in
improving the capacity of the community to shape and manage their own lives
Equitable for Distribution Sustainable Development:- Reducing the unsustainable and
unequal use of resources, and controlling population growth are essential for the survival of a
nation and, indeed, of humankind everywhere. Environment provides mankind with a variety
of goods and services necessary for their day- to-day lives, but the soil, water, climate and
solar energy, which form the abiotic' support that people derive from nature, are in
themselves not distributed evenly throughout the world or within countries. A new economic
order at the global and at national levels must be based on the ability to distribute benefits of
natural resources by sharing them more equally among the countries as well as among
communities within countries. It is at the local level where people subsist by the sale of
locally-collected resources, that the disparity is greatest. 'Development' has not reached them
and they are often unjustly accused of 'exploiting' natural resources. For example, the
objective reality of disparities in wealth has led China to indulge in pilfering and extensively
exploiting the environment and resources in the pursuit of instant results in economic
construction. In order to efficiently gain a sufficient ecological scale and justice in value
distribution, sustainable development requires that people use the market to distribute
Difference between Sustainable Development & Green Development:-Green
development provides a clear and coherent analysis of sustainable development in both
theory and practice. Green development offers clear insights into the challenges of
environmental sustainability, and social and economic development. Green development
programmes must start from the needs, understanding and aspirations of individual people,
and must work to build and enhance their capacity to help themselves. Green development is
not about the way the environment is managed, but about who has the power to decide how it
is managed. Its focus must be the capacity of the poor to exist on their own terms. At its
heart, therefore, greening development involves not just a pursuit of new forms of economic
accounting or ecological guidelines or new planning structures, but an attempt to redirect
environmental and developmental change so as to maintain or enhance people's capacity to
sustain their livelihoods and to direct their own engagements with nature
Sustainable Development:-1)Sustainability means the capacity to endure. 2)The
sustainable development indicators are aimed at providing a "state of the nation" through the
conceptual classification.3)All three (environment economy vitality, legs health, social
justice). 4)Interplay of individual components and whole system.
5)City region as the level at which human and social disequilibriums and ecological insults
can be dynamically re-balanced
Green Development :-1) Green means reducing impacts compared to health and
environmental similar products and services used for the same purpose.
2)The concept of green development is narrower in scope, as it focuses primarily on the
intersection between environment and economy. 3)Only one leg (environmental
improvement). 4) Individual components. 5)Individual devices, products, practices, buildings
as most tractable level for greening.

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Criticism of Sustainable Development :-There are a number of different levels of criticism
of sustainability from those who think the term is too widely used, and thus meaningless, to
hose who are completely opposed to the idea.1) Vagueness/Ambiguity: Sustainable
development is not only vague in terms of meaning and definition; it is also semantically
ambiguous. Does it mean development that can be sustained, thereby giving precedence to
development, or development restricted by environmental sustainability limits.
2)Hypocrisy: Sustainable development language or eco-speak may be used to disguise
unsustainable activities through what is now referred to as 'greenwashing'. Products, services
and other activities may have green or eco-labels attached to them, yet their environmental
credentials may be difficult to identify or measure.
3)Delusions:- The most significant criticism of sustainable development is that it fosters
delusions, in two particular ways. The ✓first relates to the oxymoronic character of the
concept, in as much as it provides a framework for continued development under the possibly
misguided belief that such development.
17- Point Charter under United Nations Agenda for Global Peace and Development-
2030:- Sustainable The Sustainable Development Goals (SDGs) or Global Goals are a
collection of 17 interlinked global goals designed to be a "blueprint o achieve a better and
more sustainable future for all" 1) No poverty: SDG 1 is to: "End poverty in all its forms
everywhere". The goal has seven targets and 13 indicators measure progress. The five
"outcome targets" are: eradication d extreme poverty: reduction of all poverty by half;
implementation d social protection systems. 2) Zero hunger (No hunger): SDG 2 is to: "End
hunger, achieve food security and improved nutrition, and promote sustainable agriculture".
SDG 2 has eight targets and 14 indicators to measure progress. The five "outcome targets"
are: ending hunger and improving access to food; ending all forms of malnutrition;
agricultures. 3) Good health and well-being: SDG 3 is to: "Ensure healthy lives and promote
well-being for all at all ages". SDG 3 has 13 targets and 28 indicators to measure progress
toward targets. The first nine targets are "outcome targets". Those are: reduction of maternal
mortality; ending all preventable deaths under 5 years of age, fight communicable diseases.
4) Quality education: SDG 4 is to: "Ensure inclusive and equitable quality education and
promote lifelong learning opportunities for all". SDG 4 has ten targets which are measured by
11 indicators. The seven "outcome-oriented targets" are: free primary and secondary
education; equal access to quality pre-primary education; affordable technical, vocational and
higher education. 5) Gender equality: SDG 5 is to: "Achieve gender equality and empower
all women and girls". Through the pledge to "Leave No One Behind", countries have
committed to fast-track progress for those furthest behind, first. SDG 5 aims to grant women
and girls equal rights, opportunities to live free without discrimination.
6) Clean water and sanitation: SDG 6 is to: "Ensure availability and sustainable
management of water and sanitation for all The eight targets are measured by 11 indicators.
The six "outcome- oriented targets" include: Safe and affordable drinking water, end open
defecation and provide access to sanitation and hygiene. 7) Affordable and clean energy:
SDG 7 is to: "Ensure access to affordable, reliable, sustainable and modern energy for all".
The goal has five targets to be achieved by 2030. Progress towards the targets is measured by
six indicators. Three out of the five targets are "outcome targets": Universal access to modern
energy.
8) Decent work and economic growth: SDG 8 is to: "Promote sustained, inclusive and
sustainable economic growth, full and productive employment and decent work for all". SDG
8 has twelve targets in total to be achieved by 2030. Some targets are for 2030; others are for
2020. The first ten are "outcome targets". These are: sustainable economic growth;.
9) Industry, Innovation and Infrastructure: SDG 9 is to: "Build resilient infrastructure,
promote inclusive and sustainable industrialization, and foster innovation". SDG 9 has eight

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targets. and progress is measured by twelve indicators. The first five targets are "outcome
targets": Develop sustainable, resilient and inclusive. 10) Reduced inequality: SDG 10 is to:
"Reduce income inequality within and among countries". The Goal has ten targets to be
achieved by 2030. Progress towards targets will be measured by indicators. The first seven
targets are "outcome targets": Reduce income inequalities. 11) Sustainable cities and
communities: SDG 11 is to: "Make cities and human settlements inclusive, safe, resilient,
and sustainable". SDG 11 has 10 targets to be achieved, and this is being measured with 15
indicators. The seven "outcome targets" include: Safe and affordable housing, affordable and
sustainable transport systems; inclusive and sustainable urbanization. 12) Responsible
consumption and production: SDG 12 is to: "Ensure sustainable consumption and
production patterns". The 11 targets of the goal are: implement the 10 Year Framework of
Programs on Sustainable Consumption and Production Patterns; achieve the sustainable
management. 13) Climate action: SDG 13 is to: "Take urgent action to combat climate
change and its impacts by regulating emissions and promoting developments in renewable
energy". The targets cover a wide range of issues surrounding climate action. There are five
targets in total. The first three targets are "output targets": Strengthen resilience and adaptive
capacity to climate-related disasters. 14) Life below water: SDG 14 is to: "Conserve and
sustainably use the oceans, seas and marine resources for sustainable development". The first
seven targets are "outcome targets": Reduce marine pollution; protect and restore ecosystems;
reduce ocean acidification; sustainable fishing. 15) Life on land: SDG 15 is to: "Protect,
restore and promote sustainable use of terrestrial ecosystems, sustainably manage forests,
combat desertification, and halt and reverse land degradation and halt biodiversity loss". The
nine "outcome targets" include: Conserve and restore terrestrial and freshwater. 16) Peace,
justice and strong institutions: SDG 16 is to: "Promote peaceful and inclusive societies for
sustainable development, provide access to justice for all and build effective, accountable and
inclusive institutions at all levels". The goal has ten "outcome targets": Reduce violence;
protect children from abuse, exploitation, trafficking and violence; promote the rule of law
and ensure equal access to justice; combat organized.17) Partnership for the goals: SDG 17
is to: "Strengthen the means of implementation and revitalize the global partnership for
sustainable development". This goal has 19 outcome targets and 24 indicators. Increasing
international cooperation is seen as vital to achieving each of the 16 previous goals. Goal 17
is included to assure that countries and organizations cooperate instead of compete.
Stakeholder impact on sustainable development:-Every organisation involves a system of
primary stakeholder groups with whom it establishes and manages relationships. Claims on a
firm's performance are enforced through the stakeholders' ability to withhold participation
essential to the organisation's survival, competitiveness, and profitability. Stakeholders
continue to support an organisation when its performance meets or exceeds their
expectations1) From domination by government, private operators' interests and
✓professionals in policy/planning processes, to exploration and integration of different
interests; 2) From management based on evidence, to a learning process that ✓manages
uncertainty and experimentation; 3) From reliance on technical expertise and opinion, to the
inclusion of local knowledge and proposals from stakeholders
Reducing Socio-Environmental Costs:-In light of the volatile macroeconomic environment,
most companies during the past couple years aggressively pursued cost reduction wherever
they could, as quickly as they could. The key competitive differentiator among companies
aiming to resume growth will be the extent to which their recent cost reduction measures are
sustainable. Three main tactics are there for reducing socio-environmental costs: 1)
Efficiency: Improving resource productivity and usage by enchaining efficiency i.e., waste
elimination or utilisation, - pollution prevention, and energy conservation. 2) Regulations:
decreasing disposal costs, regulatory fines, compliance expenses, etc., e.g., eliminating costs

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Stakeholders and the Power they Wield:-) Rule-Makers and Watchdogs i)Government:
Governments need to be able to anticipate rising demand for sustainable products and
services. Governments can play a key role in aiding the transition toward more efficient, less
damaging economies. The government has four distinct roles in addressing sustainability
concerns. These roles are as follows: a) Policy development, b) Regulation, c) Facilitation,
and d) Internal sustainability management.ii) Regulators: Organisations have to abide by the
directives of industry regulators who ensure fairness in the market. Environmental regulators
ensure that organisations abide by industry rules.iii) Non-Governmental Organisations: Many
multinational NGO's are formed in single countries. Many long-term established NGOs have
moved from confrontation and agitation towards sophisticated partnerships.
2) Employees, Consumers and Communities i) Employees: Employees represent the most
complex of all stakeholders and can be the most important of all stakeholder because of their
complexity as well as their multilevel influence on the corporate sustainability strategy.ii)
Communities: The infrastructure is growing for identifying companies that are more
environmentally responsible Industries, especially the primary resource sector, have heavily
invested in communication with communities.iii) Consumers: The consumer market has been
mainly driven by continuous product improvement and innovation. 3) Investors and Risk
Assessors:_i) Shareholders and Other Investors: These are very heterogeneous, with each
shareholder or investor having individual interests beyond short-term corporate profis.ii)
Industry Analysts: Corporate sustainability is not just about ecofriendliness and good
citizenship. 4) Idea Generators and Opinion Leaders:- i) Universities: Academic
institutions are valuable stakeholders as they provide new ideas and knowledge in all fields of
business operation and strategy.ii) Media: Media investigation and reaction to sustainability
issues drive public awareness and understanding. With the change from traditional media to
internet-based media, social media and social networking, organisations.
5) Business Partners and Competitors:- i) Suppliers: To guarantee that products and
services fulfil a business’s standards buyers insist on their suppliers meeting regulations and
standards.ii) Business Partners: Businesses deal with multiple other stakeholders such as
industry associations, competitors and workers unions. Industry associations set standards
and shape their industries.
Managing the Downside:- Sometimes during the lifecycle of a venture, there frequently is a
downside, which can be for a short period of time or fatal to the venture's sustainability. This
is often due to poisoning of the vision/direction of the venture frequently caused by the idea
and the venture at that time being based on anything but a realistic, interactive. Appraisal of
the market. For example, this occurred with Face book a it went public at $38 per share,
watching its stock fall to a low $19 share with some feeling the company would fail due to
the lack of foc on revenue. The goal for every venture is to reach convergence between the
market and the idea and to survive and grow. Some problem causing this poisoning and lack
of convergence include truly believing without a basis that enough market will be obtained in
time before the money runs out due in part to low or inadequate market research Reducing
socio-environmental costs and controlling risks are the twe potential downsides to focus on.
Reducing Socio-Environmental Risks:-Environmental risks may present themselves as
temporary or permanent changes to the atmosphere, water, and land due to human activities.
which can result in impacts that may be either reversible or irreversible. Social risks may
emerge in the workplace of a client's/investee's operations and may also impact surrounding
communities. For reducing socio-environmental risks, risk management is best applied.
Environment risk management is anticipating and addressing issues. regulations, and
mandates; ensuring compliance and minimising exposure to financial, strategic, operational,
and hazard risks-e.g.. liability.

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Methods of Reducing Socio-Environmental Risk:- 1) Accepting Risk: Once a risk is
known, a company, relevant regulatory authority, community or other interested party can
decide the risk is acceptable and that no action is needed to reduce or minimise it. Even when
risk is accepted. 2) Risk Reduction/Minimisation: -i) Elimination: Hazards can be
eliminated by not proceeding with the risk-generating activity or not proceeding with part of
it. Alternatively, changing the nature. 3) Risk Transfer: It describes arrangements that shift
responsibility for hazard consequences if they occur and/or of the failure to take other risk
management measures. It is useful principally when consequences or remedies are largely
financial or where the legal liability can be transferred. 4) Emergency/Contingency
Planning: covering all environmental hazards should be fully integrated into the ERM.
Planning needs to be based on rigorous hazard identification and testing of response
capability. 5)Monitoring:- environmental performance and the condition and performance of
safeguards is particularly important for satisfactory ERM.
6) Auditing: Environmental (hazard) auditing is essential to the integrity of the ERM
process. The auditing needs to address. others- the implementation of recommendations of
the risk analysis and other relevant studies, including previous among audits; other key
features of the ERM programme
.
Managing the Upside:- Corporate sustainability strategies are delivering a wide range of
commercial and operational benefits for many of the world's leading companies in managing
the upside. It concluded that formal sustainability strategies are delivering a wide range of
benefits, including improved customer relations, enhanced profitability and the development
of new products and services. Driving revenues and creating intangible values are the two
main upside of sustainability.

Driving Revenues:- Big corporations spend hundreds of millions annually on social,

cultural, and other sustainability projects without knowing whether these are driving revenues
or helping to reduce costs. In the past few decades, there has been a marked shift in how
business leaders think about the environment. Previously, the relationship consisted of
pitched battles over regulations, ongoing disputes, and endless grumbling. Today, smart
businesses treat environmental issues not as a burden but as an opportunity to advance their
position in the marketplace. 1)Product Design: Making environmentally friendly 1)products,
ie designing, re-designing, modifying, or improving current products to meet the demands of
green-conscientious consumers.2) Sales and Marketing: Building competitive positions for
currem products or generating consumer loyalty based on sustainability and green attributes

Creating Intangible Value :-No one doubts that the market value of a company today goes
beyond the numbers presented in financial statements. Many factors shape a company's value
and its prospects for marketplace success, including intangible elements such as brand
loyalty, corporate reputation, and workforce morale. Focusing your business strategy
environmentally goes beyond short-term cost, risk effects, or even the ability to drive
revenues. Some of the biggest pay-offs in a sustainability strategy may come in the form of
value gains that traditional accounting systems miss. With environmental concerns emerging
as a major issue for various stakeholders, a company's credibility, authenticity, and
transparency related to sustainability issues has become an additional item of importance to
intangible value requiring the same sort of structured management. A reputation for
environmental sustainability can help to create brand "stickiness" the ability to attract new
customers as well as retain existing ones in a world where a growing segment of the public
wants to buy products with environmental attributes, but does not want to spend time
researching who is green

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Bhutan Case for study :-The Kingdom of Bhutan has attempted to get the world's attention
for years, but not many listened until the Paris Agreement. They wrote off the tiny
Himalayan, landlocked state as irrelevant, even though the carbon emissions reduction model
brought about carbon-neutrality, a nation that has offset its own carbon emissions, and
eventually carbon- negativity, a nation that diminishes greenhouse gases already built up in
the atmosphere itself. The nation was able to achieve carbon-negative status through four
steps: Establishing a Gross National Happiness (GNH) Index:; creating a unique approach to
sustainability; developing a strong environmental governance and policy; encouraging a
diversification of the national economy. In a world that has become more interconnected and
polarized simultaneously due to globalization, it is important to observe these Bhutanese
initiatives individually. First, and most significantly, is the unique way in which the nation
tracks productivity: their Gross National Happiness. The "Gross National Happiness Index,"
or GNH, is the measurement of the collective happiness in a nation. The concept entails a
holistic approach toward economic progress while also asserting equal importance to non-
economic indicators of development. Essentially, the GNH is an alternative form of
measuring national productivity to Gross Domestic Product (GDP)
IKEA Company & Sustainability:- IKEA was founded in 1943 by Ingvar Kamprad. It is a
group of companies that designs and sells ready-to-assemble furniture, appliances and home
accessories. The IKEA group is having operations in 43 countries with total 155,000 co-
workers. They worked with 978 home furnishing suppliers from 50 countries in 2015. IKEA
is keep opening new stores to expand its business. In 2015, the IKEA Group opened 13 new
stores in 9 countries. As of August 31, 2015, the IKEA Group had 328 stores in 28 countries.
The vision of IKEA is to create a better everyday life for the many people. Based on this
concept, IKEA creates well designed furnishing products that are attractive, functional,
sustainable and affordable and sell them in unassembled flat packaging to keep costs and
prices low. The main financial principle of the IKEA Group is to grow by using their own
resources. Therefore, IKEA is making long-term investments for the future to support their
future business growth by re-investing a majority of their profits in product development,
sustainable solutions and price lowering.
Evaluate Measures taken by Sweden and Denmark in achieving the UN Sustainable
development goals :-Sweden:-Renewable Energy: Sweden has heavily invested in
renewable energy sources like wind and hydropower, aiming to achieve 100% renewable
energy by 2040. Gender Equality: Sweden is known for its strong commitment to gender
equality, promoting women's participation in the workforce and leadership roles. Education:
The country focuses on quality education for all, providing free education from preschool to
university level. Innovation: Sweden promotes innovation and research, encouraging
sustainable technological advancements. Climate Action: Sweden is working towards
becoming carbon neutral by 2045 and has set ambitious emission reduction targets.
Healthcare: The country provides universal healthcare and focuses on preventive measures to
ensure citizens' well-being. Foreign Aid: Sweden allocates a significant portion of its budget
to foreign aid, supporting global development initiatives. Denmark:- Renewable Energy:
Denmark is a leader in wind energy, aiming to be fossil fuel-free by 2050. It has made
substantial investments in wind farms. Sustainable Transport: Denmark promotes cycling and
has developed comprehensive public transport systems, reducing carbon emissions. Circular
Economy: The country emphasizes waste reduction and recycling, encouraging a circular
economy model. Green Innovation: Denmark supports green technology startups and
sustainable business practices through grants and incentives. Climate Mitigation: Denmark is
focused on reducing greenhouse gas emissions, with targets to reduce carbon emissions by a
significant amount. Education and Research: Denmark emphasizes education and research in
sustainable development, fostering expertise in relevant field

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Three Dimensions of Sustainable Development:-
1) Social Sustainability: The most significant aspect of sustainability is social capital. This is
due to the fact that the human beings can work together easily and economically through civil
societies and communities.
2) Economic Sustainability: In elementary terms, a certain amount of capital for a particular
time period is called economic sustainability. In order to enjoy the capital at the end of the
specific period, it is quite significant for those who are enjoying the capital to preserve it.
3) Environmental Sustainability: Environmental sustainability is quite vital as all the
natural resources are included in it which a human being requires for produced or economic
capital. Human needs are satisfied by the natural resources.
Natural Resources:- The term 'resource' refers to anything that can be used to fulfil certain
need, derive certain benefit, etc. Generally, resources are kept in reserve and are used when
the need arises. Similarly, the natural resources are the substances which are available in
nature and can be used by all the living beings in order to ensure their livelihood. Natural
resources can also be termed as any element of the natural environment which is capable of
providing certain benefits to the living beings. Land, grassland, forests, soil, water, etc., are
few examples of natural resources. These examples reflect that a natural resource can be a
natural process, an energy unit, a phenomenon, or a substance, Natural resources like water,
soil, trees, etc., are crucial ingredients of the life supporting system. Apart from being the
sources of food, clothing, and shelter, natural resources also support, entertain, and inspire the
humans. For example, Andaman group of islands have a tribal community named as Onge.
People from this tribal community never use gold, silver, and uranium; therefore these three
substances are not considered a resources by them. In the same way, uranium did not have
any significance in the past but it has gained lot of importance since last few decades. The
reason behind its increased popularity is its utility in nuclear energy; and hence, it is
nowadays considered as an extremely important resource.
Resources Depletion:-Natural resources are resources that exist without actions of
humankind. This includes all valued characteristics such as magnetic, gravitational, and
electrical properties and forces. On earth it includes: sunlight, atmosphere, water, land
(includes all minerals) along with all vegetation, crops and animal life that naturally subsists
upon or within the heretofore identified characteristics and substances.
Resource depletion is the consumption of a resource faster than it can be replenished. Natural
resources are commonly divided between renewable resources and non-renewable resources.
Use of either of these forms of resources beyond their rate of replacement is considered to be
resource depletion. Resource depletion is most commonly used in reference to farming,
fishing, mining, water usage, and consumption of fossil fuels. Major causes of resource
depletion are: 1) Population Growth: With the increase in population the depletion of
natural resources will also increase. It is because of the necessary activities of man. Man
overexploit natural resources for his comforts. This can ultimately lead to the scarcity of
these resources in the near future.2) Deforestation: Due to the deforestation cause the
decrease in rainfall and amount of firewood. Due to this, 200 crores people suffer from the
scarcity of water. Besides this, man is over consuming the available source of water.
3) Over Consumption: Today the number of motor vehicles is increasing day by day. This
needs a huge amount of petroleum and diesel. One liter of petrol will be burned out when a
motor car runs about 10 km distance. 4) Only Human Constitute the Steadily Increasing
Resource: when human population increases, the use of natural resources also increases.
5) Man as a Virus: Man is a virus that destroys the resources, as cancer destroys the humans.
Humans destroy the natural resources of the entire world.6) Natural Calamities: Natural
Calamities like flood and drought cause a mass depletion of natural resources. 7) Pollution:
Pollution is one of the most destructive causes of the depletion of the natural resources.

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Management of Human Consumption :-The underlying driver of direct human impacts on
the environment is human consumption.
1.Energy:-It is fundamental to modern day society. Energy lights our cities, powers our
vehicles, trains, planes and rockets, warms our homes, cooks our food, plays our music, gives
us pictures on television and powers machinery in factories. Energy is necessary for most
forms of economic and social activity. Society derives energy from many different sources
including Fossil fuels coal, oil and natural gas.
2.Food:-The American Public Health Association (APHA) defines a "sustainable food
system" as "one that provides healthy food to meet current food needs while maintaining
healthy ecosystems that can also provide food for generations to come with minimal negative
impact to the environment. A sustainable food system also encourages local production and
distribution infrastructures and makes nutritious food available, accessible, and affordable to
all. Further, it is humane and just, protecting farmers and other workers, consumers,
3.Waste Management :-The extraction, processing, transportation and distribution of natural
resources often result in the production of hazardous waste. This waste, if improperly
managed, can contaminate land, water and air resources resulting in adverse human health
and ecosystem impacts. Therefore proper waste management is essential to sustainable
development
Ecological "Footprint":- In order for humanity to proceed in the direction of sustainable
development, accurate indicators for sustainability are essential to monitor progress and to
indicate where improvements need to be made. Like the concept of sustainability, indicators
for sustainable development are difficult to define and are therefore fated to undergoing
considerable debate no matter how many variables they cover. The Ecological footprint is
one such indicator which from its conception has seen considerable criticism and has
received equally vociferous support. The ecological footprint is a measure of human demand
on the Earth's ecosystems. It is a standardised measure of demand for natural capital that may
be contrasted with the planet's ecological capacity to regenerate.
Eco-tracking:- Eco-tracking is to monitor environmental performance of a company by use
of hardware and software systems so as to manage the energy consumption of its
manufacturing processes and keep the greenhouse gas emissions under control. Every
company should track its environmental impact, the resources it uses, harmful gases it emits
and its waste. "What cannot be measured cannot be managed" is a well-known claim and
truth in the environmental issues as well. Without analysing the level of environmental
footprint it is not possible to do eco-tracking.
Carbon marketing :-is a method that encourages developed countries to help less developed
countries to invest in and use clean energy technologies (i.e., those which produce less
greenhouse gases). It is a bid to reduce the emission of carbon and other greenhouse gases
which experts claim are changing the global climate drastically. The developed countries can
then use the emission-reduction credits to meet their own nation's emission reduction goals.
Carbon market is a market that is created from the trading of carbon emission allowances to
encourage or help countries and companies to limit
1) Compliance Carbon Market: Compliance markets are created and regulated by
mandatory national, regional or international carob reduction regimes. The Compliance or
Regulatory Carbon market is underpinned by two major agreements that have been adopted
by the international community.
2.Carbon Credits:- The Kyoto Protocol has created a mechanism under which countries that
have been emitting more carbon and other gases (greenhouse gases include Ozone, carbon
Dioxide, Methane, Nitrous Oxide and even water vapour) have voluntarily decided that they
will bring down the level of Carbon they are emitting to the levels of early 1990s.

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Economics of Sustainability:-Sustainability has become a significant issue pertaining to
social, economic, and political aspects. For discussing the issues of global sustainability,
several important international conferences are continuously organised and held. To direct
this issue economists have continued to be among the most reluctant groups within the
scientific community. Economists are likely consider to sustainability as an issue of public
policy, issue of economic development, or an issue of resource economics. Conventional
economics is denoted as "chrematistics" by Daly and Cobb. "Chrematistics" implies the
"manipulation of property and wealth for maximising the short-term monetary exchange
value to the owner".
Designing for the Environment:-Design for environment involves incorporating
environmental considerations into the design phase, so as to identify and resolve potential
environmental hazards early on in the life cycle of the product. Designing for Environment
(DFE) addresses key issues, including toxicity, health and safety, service life, recycled
content of manufacturing wastes, and disposal alternatives. DFE is responsive to growing
customer demand for "green products and services". DFE recognises that there are trade-offs
affecting product and process design that go beyond properties, performance, and short-term
costs. DFE requires a systems approach, a full understanding of product and process use,
including effects on human health and well-being and the environment.DFE - takes into
account an analysis of the economic and competitive advantage of "green products" based on
their life cycle. requires that a product or process be assessed in terms of energy requirements
and environmental effects throughout its life cycle;
Greening" the Supply Chain:- Supply chain management has traditionally been viewed as a
process where in raw materials are converted into final products, and then delivered to the
end-consumer. This process involves extraction and exploitation of the natural resources. The
waste and emissions caused by the supply chain have become one of the main sources of
serious environmental problems including global warming and acid rain. Green supply chain
policies are desirable since reactive regulatory, to proactive strategic and competitive
advantages. 'Greening' the supply chain means integrating environment thinking into supply
chain process, including product design, material sourcing and selection, manufacturing
processes, delivery of the final product to the consumers, and end-of-life management of the
product after its useful life. In green supply chain design, the green process improvement
approach is normally adopted. It addresses the following five fundamental areas of the supply
chain-upstream, downstream, within the organisation and logistics. Green Supply Chain
Management (GSCM) is gaining increasing interest among researchers and practitioners of
operations and supply chain management. The growing importance of GSCM is driven
mainly by the escalating deterioration of environment, e.g., diminishing raw material
resources, overflowing waste sites and increasing level of pollution. Greening supply chains
aims to balance marketing performance with environmental issues. To meet with challenges
such as energy conservation and pollution abatement, enterprises have tried to green their
supply chains, i.e., to create networks of suppliers to purchase environmentally superior
products or to build common approaches to waste reduction and operational efficiencies.
Greening the supply chain is increasingly a concern for many business enterprises and a
challenge for logistics management in the 21" century.
Air pollution:- is defined as, substances put into air by the activity of mankind into
concentration sufficient to cause harmful effect to his health, vegetables, property or to
interfere with the enjoyment of his property"..Air pollution is the presence in ambient
atmosphere of substances, generally resulting from the activity of man, in sufficient
concentration, present for a sufficient time and under circumstances which interfere
significantly with the comfort, health or welfare of persons or with the full use or enjoyment
of property. The presence of foreign substances in air in an excessive and undesirable

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Water pollution :-means the presence of any toxic substance in water that degrades the
quality to constitute a hazard or impair its usefulness”. Water is the another vital amenity
which is mandatory for the maintenance of all life forms, as it is responsible for the flow,
circulation and movement of nutrients in the biosphere. Thus, water is the most important
component for life support system. Similar to other natural substances, water possesses self-
purifying ability during its recycling, but due to the presence of undesirable foreign particles,
such ability gets reduced thereby giving rise to water pollution. Hence, water pollution can be
defined as deterioration of chemical, biological and physical features of water by human and
natural activities.
Climate Change :-Climate is naturally inconstant and varies with time across different
locations. Its record becomes tremendously unpredictable and fragmented if an individual
goes in the deep past at the time of earth's physical formation and development. With a wide
range of climate changes, human civilisations have adapted themselves to sustain under any
climatic condition such as hot equatorials zones, freezing polar zones, wetlands, barren
deserts, high mountains, monsoon regions, etc. However, both human existence and health
are strongly affected by the changes in climatic conditions. Climate change gives rise to
uncommon challenges to human health. There are several means by which this change can
probably produce detrimental health effects far apart from the health hazards produced
Ozone Layer Depletion:-The ozone layer is a belt of naturally occurring ozone gas that sits
9.3 to 18.6 miles (15 to 30 kilometres) above Earth and serves as a shield from the harmful
ultraviolet B radiation emitted by the sun. It is stratified in temperature, with warmer layers
higher up and cooler layers farther down. This is in contrast to the troposphere near the
Earth's surface, which is cooler higher up and warmer farther down. The border of the
troposphere and stratosphere, the tropopause, is marked by where this inversion begins,
which in terms of atmospheric thermodynamics is the equilibrium level. The stratosphere is
situated between about ten km and fifty km above the surface at moderate latitudes, while at
the poles it starts at about eight km altitude. Stratosphere has temperature variations of - 55°C
to 5°C. This layer is characterised by the absence of water vapour and the presence of a well-
marked ozone layer called Ozonosphere. Ozone is a molecule containing three oxygen atoms.
The formation of ozone from oxygen is brought about by a photochemical reaction wherein
the energy of radiation from the sun dissociates the oxygen molecule to form atomic
oxygen.The atomic Oxygen then combines with molecular oxygen to form ozone. It is this
stratospheric ozone that filters the Sun's ultraviolet (UV) radiation. The depletion of the
ozone layer allows the UV radiation of the sun to reach the surface of the earth. Without
ozone, life on Earth would not have evolved in the way it has. The first stage of single cell
organism development requires an oxygen-free environment.
Ozone Hole NASA Report :- The annually occurring ozone hole over the Antarctic had
rapidly grown from mid-August and peaked at around 24 million square kilometres is one of
the largest so far in early October 2020. The expansion of the hole was driven by a strong,
stable and cold polar vortex and very cold temperatures in the stratosphere. The same
meteorological factors also contributed to the record 2020 Arctic ozone hole, which has also
closed. A polar vortex is a wide expanse of swirling cold air, a low pressure area, in polar
regions. During winters, the polar vortex at the North Pole expands, sending cold air
southward. An ozone hole is the thinning of the ozone layer boosted in size by colder
temperatures. As the temperature high up in the stratosphere starts to rise, ozone depletion
slows; the polar vortex weakens and breaks down. By the end of December, ozone levels
return to normal. This time around, however, the process took longer. The formation of ozone
hole in the Antarctic has been an annual occurrence and has been recorded for the last 40
years. Human-made chemicals migrate into the stratosphere and accumulate inside the polar
vortex. It begins to shrink in size as warmer temperatures dominate.

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Economic sustainability' :- is used to recognise a number of strategies that ensures the
optimum utilisation of usage of available resources. The notion is to encourage the utilisation
of those resources in a manner which is both responsible and effective, and offers long-
lasting advantages. Economic sustainability ensures that the resources should be utilised with
the aim to perform business operations over a longer period of time with constant profit
returns. Numerous crucial matters have been aimed at economic reform and interpretation in
directing this issue. Such matters involve the effects of unrestrained development on the
environment, the outcomes of the nature being regarded and handled as an economic
externality, and the probability of economics, which considers the environmental and social
outcomes of market behaviour to a large extent.
Achieving Economic Growth with Minimal Environment Degradation:-1) A shift from
non-renewable to renewable: A recent report suggests that renewable energy is becoming
cheaper than more damaging forms of energy production such as burning coal and in 2018
this has led to a 39% drop in new construction starts from - 2017, and an 84% drop since
2015. 2) Social cost pricing: If economic growth causes external costs, economists state it is
socially efficient to include the external cost in the price (e.g. carbon tax). If the tax equals
the full external cost, it will lead to a socially efficient outcome and create a strong incentive
to promote growth that minimises external costs. 3) Treat the environment as a public good:
Environmental policy which protects the environment, through regulations, government
ownership and limits on external costs can, in theory, enable economic growth to be based on
protection of the environmental resource. 4) Technological development: It is possible to
replace cars running on petrol with cars running on electricity from renewable sources. This
enables an increase in output, but also a reduction in the environmental impact.
5)Include quality of life and environmental indicators in economic statistics Rather than
targeting GDP, environmental economists argue we should target a wider range of living
standards + living standards.
Nature as an Economic Externality :-An economic profit or loss accruing to one or more
recipient agents as an outcome of an economic activity instigated by another agent, where the
profit or loss is not revealed in the market price, is known as an economic externality. Either
a customer or a manufacturer may be the recipient economic agent or the instigating
economic agent. For example, the society living near industries faces problems of pollution.
The economic significance of nature is pointed out by the usage of expression ecosystem
services to focus the market relevance of a progressively limited natural world which cannot
be considered as both free and infinite any more. The innovation in technology, substitute
products, and thriftiness is motivated particularly due to the restriction arising from the
increase in prices as a result of shortage of goods or services. This condition is relevant only
when the commodity or service goes well inside the market system. Ecosystem services are
not priced because they are generally treated as economic externalities. Due to this reason
they are deteriorated and over-employed. This condition, at times, is mentioned as the
"Tragedy of the Commons'
Economic Opportunity:- Short-run profits may produce at the cost of sustainability if the
environment is regarded as an externality. Contrary to this, the practices of the sustainable
business unite the ecological apprehensions with the economic and social apprehensions (ie.,
the triple bottom-line). The growth which exhausts the ecosystem services is at times referred
to as "uneconomic growth" because it results in the deterioration of the quality of life.
Prospects for local companies can be made available by reducing the uneconomic growth.
The establishment of the various organisations like the Sustainable Business Institute, the
World Council for Sustainable Development, and the Sustainability Consortium of the
Society for Organisational Learning are the consequences of the concept of the sustainability
as a business prospect.

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Inclusive Growth :- is economic growth that is distributed fairly across society and creates
opportunities for all" . Inclusive growth means economic growth that creates employment
opportunities and helps in reducing poverty. It means having access to essential services in
health and education by the poor. It includes providing equality of opportunity, empowering
people through education and skill development. It also encompasses a growth process that is
environment friendly growth, aims for good governance and helps in creation of a gender
sensitive society
Implementation of Inclusive Growth :-: 1) Resource Allocation: Without proper resource
utilization, the issues of poverty, equity and development cannot be addressed. Equitable
sharing of the resources is one of the most important means t implement the inclusive
growth-based policy framework. The allocation of resources should be made in a way to
benefit the geneni mass in short and long term. 2) Employment Generation: Employment is
the most vital of all strategies of inclusive growth. At the same time, employment generation
is a real challenge to the government. This is because of India is witnessing a demographic
transition and burden of demographic dividend.3) Skill Building and Capacity
Development: Skill deficit is a major impediment in Inclusive Growth. Government has
created a framework for entrepreneurship development. Employment generation may not
fulfil the rising employment demand due to large share of the population lying in the informal
sector. 4) Agriculture: Agriculture is the central pillar of inclusive growth. It provides
employment to unskilled workforce and sustenance to the population. Average annual growth
rate of agriculture and allied sector was 3.6% during XI Plan against 2.5% and 2.4% in IX
and X plans respectively.
Models of Rural Development:-There are four predominant models of rural development.
The immediate post-war model centred on the agricultural sector. Increasing food production
was a first priority and other objectives, such as enhancing rural employment and services,
were seen as following directly from the production support given to the agricultural sector.
1) Sectoral Approach: In the period following the Second World War there were
overwhelming priorities that dictated the approaches taken to agricultural policy. These were
driven by a need to ensure domestic food security and the central role of on Land agriculture
in rural economies as reflected. 2) Multisectoral Approach: Thus, support directed
exclusively through the agricultural sector faced increasing exchequer costs in terms of
dealing with the agricultural surpluses that can result from increased production and with the
declining relative importance of agriculture within rural areas which can have less and less
local economic impact more generally. 3) Territorial Approach: However, even so, such an
approach is only partially "multisectoral". A truly multisectoral approach to rural
development policy would look more generally and equally.
4) Local Approach: A response to these sorts of factors may be to adopt a "local" or even an
"individual" approach. In principle, resources need to be directed towards particular problems
at the individual household or business level.
Sustainable Livelihoods for Tribal Communities:- Sustainable Livelihood security to basic
human needs, food security, sustainable agricultural practices and poverty and describes as an
integrating concept. A Livelihood comprises the capabilities, assets (including both material
and social resources) and activities required for a means of living; a livelihood is sustainable
which can cope with and recover from stress and shocks and maintain or enhance its
capabilities and assets. The present study was conducted in Sabarkantha district of North
Gujarat region of Gujarat State, as the economy of the districts basically dependent on
agriculture and the district ranks first with respect to tribal population amongst the districts of
North Gujarat region. It is seen that only 14 villages out of 1.372 were having percentage
range of scheduled tribes population of 41-50, covered in Khedbrahma, Vijaynagar, Bhiloda
and Meghraj talukas of the district

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SOCIAL SUSTAINABILITY :-One of the important aspects of sustainable development is
social sustainability. Labour rights, corporate governance, and human rights are included in
social sustainability. The basic theme behind the social sustainability is that the social
resources should also be provided to the future generations either in larger extent or the same
extent as the present generation ('inter-generational equity'). At the same time, the present
generation should also have the same amount of social resources access ("intra-generational
equity"). The concepts related to cultures and basic human rights are included in social
resources
Elements of Social Sustainability :- Social development and well-being is incorporated by
social dimension and this can be accomplished by providing better health services, skill
development, facilitating public goods, creating of various safety measures which ca
empower the poor, and providing quality education. 1.Peace, Security, and Social Justice:-
The most commonly used and powerful word which is used in almost each language is peace.
But in reality, there is no clear understanding of the concept of peace and its associated value
in the world economy. Traditionally, peace is considered to be imposed by winning war or
just a philanthropic concept. Climate change, depleting biodiversity, over population, and
access to fresh water are the main challenges which are presented to the humanity in current
era. A global solution is required for the resolution of these problems which will seek never
before global harmony and efforts. In order to accomplish the environment to attain the
desired corporation, it is inevitable to have peace.
2.Sustainability and Poverty:-The most prevailing and demoralising issue which is faced
by the entire world in current era is the problem of poverty. Various types of life
circumstances are being produced for the upliftment of extremely poor by the economies of
most countries but these attempts are not enough for these poor to have a normal and
productive life. Thus, it is very important to give a lot of significance and importance to
poverty eradication. Various types of social and economic reforms which are directed to
lower the scale of poverty and improving the reasonable extent of human fulfilment must be
promoted strongly by various nations and regions.
3.Human Relationship to Nature :-Since mid-19th century, the development of mankind
has largely been any dependent on the capability of utilising various resources which are
being offered by the mother nature. The one-third to half of global ecosystem production is
utilised by the human in the form of timber being cut, water being used, and food being eaten
up. Similar to living being on the earth, the survival of human being is also dependent upon a
healthy ecosystem. Clean water, medicines, food, and even recreation are provided by the
nature to the human beings. Having better weather and climate situation can also be
facilitated with the help of maintaining ecosystem. There is an interactive, trivial, muddled,
and dynamic relationship which exists between human beings and nature. In fact, the
relationship which exists between humans and nature has not been understood completely in
the same manner by humans as they belong to various cultures and experiences which change
over time.
4.Human-Nature Conflicts:-The conflict between man and nature/wildlife has been on since
ages, but the instances of such conflicts have gone-up now. This has occurred because of
expansion of human populations towards the natural habitats of wildlife. As the urban areas
are increasing, the forest areas are shrinking. Therefore, wildlife habitation faces problems.
Conflict between man and wildlife can be understood.
5.Human Settlements Any kind of human habitation which ranges from a single residence to
a large city can be understood as 'settlement' in simple words. There are many other meanings
of word 'settlement' along with the process of settling in a previously uninhabited area by
various individuals. Occupancy is the other name of settlement in geography. The
combination of different types or sizes of residence where different individuals reside

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STAKEHOLDERS IN BUSINESS :-The stakeholders in a firm are individuals and
constituencies that contribute, either voluntarily or involuntarily, to its wealth-creating
capacity and activities, and who are therefore its potential beneficiaries and for risk bearers.
A stakeholder in an organisation is (by definition) any group or individual who can affect or
is affected by the achievement of the organisation's objectives..
Stakeholder engagement:- is the process by which an organisation involves people who may
be affected by the decisions it makes or by its implementation. It is more than just
communication which will only give you a sense of 'yes', 'no' or 'maybe'. Developing an
understanding of what people are saying requires both listening and responding. Stakeholder
engagement is the process by which companies communicate and get to know their
stakeholders. By getting to know them, companies are able to better understand what they
want, when they want it, how engaged they are and how the companies' plans and actions
will affect their goals. Furthermore, they can improve their communication and rethinking
their strategies and operations, having long-term benefits such as brand reputation or first
mover advantage
Methods of Stakeholders Engagement:-1) Partnership: This involves shared
accountability responsibility. This deals with two-way engagement joint learning. decision
making and actions. 2) Participation: This approach focuses on being a part of the team.
engaged in delivering tasks or with responsibility for a particular area/activity. Participation
involves two-way engagement within limits of responsibility. 3) Consultation: Involved, but
not responsible and not necessarily having influence outside of consultation boundaries.
Limited two- way engagement: organisation asks questions, stakeholders answer.
4) Push Communications: One-way engagement. organisation may broadcast information
to all stakeholders or target particular stakeholder groups using various channels, e.g., emails,
letters, webcasts, podcasts, videos, leaflets.
5) Pull Communications: One-way engagement. Information is made available, and
stakeholders choose whether to engage with it, e.g. web-pages, construction hoardings
BUSINESS MODELS for SUSTAINABLE DEVELOPMENT :- Business model is a
conceptual tool that contains a set of elements and their relationships and allows to express
the business logic of a specific firm..
Indian Business Models for Sustainable Development :- 1.ITC Limited ITC's diversified
status originates from its corporate strategy of creating multiple drivers of growth leveraging
its core competencies - wide distribution reach, brand-building capabilities, effective supply
chain management and service delivery. The group employs over 25,000 people at more than
60 locations across India. ITC has a sustainability management structure to develop and
review policies, targets, progress, and then report. This structure overlaps with the
governance structure and business structure of the company, which helps mainstream
sustainability into business strategy and processes. 2.BASIX :- It is a livelihood promotion
institution established in 1996, working with over a million and a half customers, over 90 per
cent of them are rural poor households and about ten per cent are urban slum dwellers,
BASIX works with over one million households in 100 districts in the Indian states of
Andhra Pradesh, Karnataka, Orissa, Jharkhand, Maharashtra, Madhya Pradesh, Rajasthan,
Bihar. Chhattisgarh, West Bengal, Delhi, Sikkim and Assam. BASIX is an intermediary
between mainstream capital held by people unfamiliar with rural development on
development on one side and low-income rural entrepreneurs in poor areas on the other.
3.HCL India :-The Information Technology (IT) revolution around the world ha resulted in
a vast increase in the usage of computers, servers and other IT related components. In India,
the growth of the IT sector, the deployment of IT hardware and procurement of IT services
by non-IT companies, internet services, and other factors have led to rapid rise in the usage of
computers and associated hardware.

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Global Business Models for Sustainable Development :- 1.Tata Consultancy Services
The business plans of various business units - drawn in the light of overall TCS strategy and
corporate goals - require identifying the goals, customer/stakeholder objectives, the
constraints and risks to be overcome, and also the TCS's Corporate Social Responsibility to
various stakeholders depending upon the applicability. These plans are finalised by the
Executive Leadership team of TCS and are followed through by monthly/quarterly reviews.
TCS also operates on the Tata Business Excellence Model (TBEM) 79 which ensures the
strategic fit of its sustainability efforts to business operations. The nature of TCS business
does not contain highly polluting processes. However, the industry does have an
environmental footprint that is worthy of reducing. Also, it can help other industries and
governments with technology-based solutions to tackle sustainability challenges.
2.Unilever :- Unilever is working to decouple growth from environmental impact in order to
double the size of its business and increase the positive social benefits of its products. The
Unilever Sustainable Living Plan sets out about 60 time-bound, publicly-reported targets
designed to reduce costs, support customers and grow its brands, opening up new markets in
a sustainable way. Targets include halving the environmental footprint of Unilever's products
and sourcing 100 per cent of agricultural raw materials sustainably by 2020. Measures
include investments in R&D and development of sustainable products and resource efficient
factories. In 2011, 100 per cent of the electricity purchased for Unilever sites in Europe and
Canada came from renewable sources.3.PUMA:-PUMA collaborated with
PricewaterhouseCoopers and Trucost to conduct the first Environmental Profit and Loss
Account (EP and L) for 2010, published in 2011. The EP and L serves as a strategic, risk
management and transparency tool. The account quantifies the value of ecosystem services
and the negative impacts, focusing on GHG emissions, water use, land conversion, other air
pollution and waste resulting from core operations and along its entire supply chain.
Environmental impacts were valued at 145 million for 2010. Only 8 million of this total
derived from PUMA's core operations, and the remaining 137 million from PUMA's external
suppliers.
Voluntary in sustainable development :-Many of the Sustainable Development Goals call
for long-term attitude and behaviour changes.
Role of Industries in Sustainable Development Following are the roles of Industries in
sustainable development:-1) Business Culture of Innovation: transform your products,
facilities, services, production processes and internal management with sustainability
criteria. 2) Sustainable, resilient and quality facilities and factories: Invest in these
strategic infrastructures throughout the supply chain to ensure the well-being of employees
and suppliers, especially people with disabilities and other vulnerable groups. 3) ICT access:
To all employees and encourage its use throughout the supply chain, to ensure smooth
communication throughout the value chain and prevent situations of stock-outs and lack of
supplies in critical situations. 4) Alternative renewable fuels to fossil fuels: Promote their
use in the activities and operations of your company, adopting environmentally sound
industrial processes.5) Low carbon economy: reduces CO2 emissions and pollution and
promotes energy efficiency and a circular economy based on the reuse of materials.6)
Support for SMES: Promotes business relationships with small and medium enterprises
throughout the value chain to encourage the industrialization of all. 7) Efficient and
sustainable technologies: Big data, artificial intelligence or the internet of things can help us
to promote sustainability. 8) Infrastructures and sustainable materials: Especially in
construction companies or activities with a large environmental footprint, bet on innovation
in this field.9) Investing in R+D+I: To promote technological development and innovation.
10) Expansion to developing countries: Prioritizing sustainability a the economic, social and
environmental levels, promoting the sustainable industrialization of all regions

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Role of Citizens' in Sustainable Development:-Following are the roles of Citizens' in
sustainable development: -1) Reduce (not waste resources) i) Analyze the ads critically ii)
Avoid commercial mail; Delete from the databases of advertising companies.. iii) Avoid
electric devices and toys with batteries. iv) Avoid elevators whenever possible. v)
Congratulate, communicate and call meetings electronically. vi) Consume seasonal and
organic farming products.
2) Reuse :-i) In particular, avoid plastic bags and wrappers, aluminium and paper cups. ii)
Print, for example, on paper already used on one side. iii) Rehabilitate homes, make them
more sustainable insulation, etc.) aveicing new construction
3) Recycle:-i) Recycle batteries, mobiles, bulbs containing computers, oil, toxic products.
mercury. ii) Separate waste for selective collection ("compacting" to occupy less).

SUSTAINABILITY REPORTING :-Sustainability reporting helps to make the correlation

between business's financial success and its environmental and social performance. A
sustainability report is an objective document the details triple-bottom line performance over
a fixed time period, usually a year. This report goes by different names, such as triple-bottom
line report, corporate citizenship report, and Corporate Social Responsibility (CSR) report.
Triple Bottom Line Report :- Triple Bottom Line is also known as TBL or 3BL as it states
that the value created by any organisation is based on three areas environmental, monetary
and social. In the year 1994, while dealing with 'eco-efficiency', John Elkington introduced
the model of Triple Bottom Line. 'Eco- efficiency' included some important aspects like
environmental and monetary aspect of performance of business. Further, it also included
social aspect of business performance which was rarely used in past. Triple Bottom Line
brought sustainability concept to be included in organisational decision making. Additionally,
TBL is also assumed as a concept of accounting which includes social, financial and
environmental dimensions. The social, environmental and financial dimensions are referred
as People, Planet and Profits respectively. These 3Ps are considered as 3 pillars of the
sustainability concept.
Contents of Sustainability Reporting (CSR Reports, ESG Reports, Social and
Environmental Reports):- A sustainability report must be useful and credible, and provide a
balanced account of a company's sustainability performance. Therefore, it is essential that the
company has confidence in the quality and objectivity of the data and information disclosed
in the report.
1) Materiality: The information in a report should cover topics and Indicators that reflect the
organisation's significant economic, environmental, and social impacts, or that would
substantively influence the assessments and decisions of stakeholders.
2) Stakeholder Inclusiveness: The reporting organisation should identify its stakeholders
and explain in the report how it has responded to their reasonable expectations and interests
Stakeholders are defined as entities or individuals that can reasonably be expected to be
significantly affected by the organisation's activities.
3) Sustainability Context: The report should present the organisation's performance in the
wider context of sustainability. Information on performance should be placed in context. The
underlying question of sustainability reporting is how an organisation contributes, or aims to
contribute in the future, to the improvement or deterioration of economic, environmental, and
social conditions, developments, and trends at the local, regional, or global level.
4) Completeness: Coverage of the material topics and Indicators and definition of the report
boundary should be sufficient to reflect significant economic, environmental, and social
impacts and enable stakeholders to assess the reporting organisation's performance in the
reporting period. Completeness primarily encompasses the dimensions of scope, boundary,
and time.

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Social Accountability Standard:- It is a voluntary social accountability standard for labour

practices. SA8000 is a global social accountability standard for decent working conditions,
developed and overseen by New York-based Social Accountability International (SAI). SAI
contracts with a global accreditation agency Social Accountability Accreditation Services
(SAAS), which licences and oversees auditing organisations to award certification to
employers that comply with SA8000.SA8000 is based on the U.N. Universal Declaration of
Human Rights, Convention on the Rights of the Child and various International Labour
Organisation (ILO) conventions. SA8000 covers areas such as child labour, forced labour,
workplace safety and health, freedom of association and right to collective bargaining and so
on. It is to ensure basic rights are respected within the supply chain of companies and
industries.
ISO 26000: Social Responsibility Guidance Standard:-ISO 26000 is a voluntary guidance
standard on social responsibility designed for use by any organisation. It can be used by
business leaders to plan and implement actions to improve their sustainability economically,
socially, and environmentally. The guidance "ISO 26000 on social responsibility" was
launched in November 2010 aiming to provide practical guidelines to implement social
responsibility identify and engage stakeholders, and enhance credibility of reports and claims
made about social responsibility. Furthermore, these internationally accepted guidelines will
promote common terminology in the social responsibility field and broaden awareness of
social responsibility. This ISO 26000 scope also includes that the international standard
cannot be used as basis for audits, conformity tests and certificates, or for compliance
statements. As a guidance document, the ISO 26000 is an offer, voluntary in use. and
encourages organisations to discuss their social responsibility issues and possible actions with
relevant stakeholders. The standard encourages to organisations to re-consider social
responsibility or socially responsible behaviour' and to identify/select from its
recommendations those where the organisation could/should engage in contributions to
society. ISO 26000 encourages further to report on actions taken.
Elements of ISO 26000 ISO 26000 contains the following elements:
1) Definition of Social Responsibility: ISO 26000 defines the social responsibility of an
organisation as: "the responsibility for the impacts of its decisions and activities on society
and the environment, through transparent and ethical behaviour that: i) It contributes to
sustainable development, health and the welfare of society;
2) Seven Principles: Organisations using ISO 26000 should respe the following seven
principles: i) Accountability for the organisation's impacts on society and the environment; ii)
Transparency in the organisation's decisions and activities th have impact on society and the
environment; iii) Ethical behaviour at all times;
3) Seven Core Subjects: After recognising the seven principles, organisation should address
the following core subjects in order to identify the issues and priorities that are relevant for
the organisation: i) Organisational governance; ii) Human rights; iii) Labour practices

Business Ethics :- Ethics is the discipline dealing with what is good and bad and with moral
duty and obligations" The word "ethics" is extracted from the Greek word "ethos", which
refers to the nature, guiding values, principles or ideals that are spread through a group,
community or people. Business ethics means how ethics can be used in conducting the
business. It helps businessmen in determining the difference between the correct and
incorrect and ethical and unethical activities. A set of moral standards is provided by business
ethics which helps in carrying-out business ethically Business ethics is the study of business
situations, activities, and decisions where issues of right and wrong are addressed"."The
ethics of business is the ethics of responsibility. The businessman must promise that he will
not harm knowingly

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Global Compact Principles:- Launched in 2000, the Compact addresses 10 principles in
environment, human rights, workers rights and anti-corruption. The Compact is non-binding
and voluntary. It promotes development through good corporate citizenship.
Human Rights Principle 1: Businesses should support and respect the protection of
internationally proclaimed human rights; and Principle 2: Make sure that they are not
complicit in human rights abuses. Labour Principle 3: Businesses should uphold the freedom
of association and the effective recognition of the right to collective bargaining; Principle
4: The elimination of all forms of forced and compulsory labour; Principle 5: The effective
abolition of child labour; and Principle 6: The elimination of discrimination in respect of
employment and occupation. Principle 7: Businesses should support a precautionary
approach to Environment environmental challenges; Principle 8: Undertake initiatives to
promote greater environmental responsibility; and Principle 9: Encourage the development
environmentally friendly technologies. Anti-Corruption and diffusion of Principle
10.Businesses should work against corruption in all its forms, including extortion and bribery
ENVIRONMENTAL ASSESSMENT METHODS:- A directory of
assessment/measurement tools is one of the key requirements to be considered in the
development of models and processes to address the evaluation of sustainability. These are
sometimes known as evaluation 'toolkits'. In order to make progress, assessment methods
must be adopted for determining whether the.
Environmental Impact Assessment (EIA):-Environmental Impact Assessment is the
process of identifying, predicting, evaluating and mitigating the biophysical, social, and other
relevant effects of development proposals prior to major decisions being taken and
commitments made". Simply defined, EIA is a systematic process to identify, predict and
evaluate the environmental effects of proposed actions and projects. This process is applied
prior to major decisions and commitments being made. A broad definition of environment is
adopted. Whenever appropriate, social, cultural and health effects are considered as an
integral part of EIA. Particular attention is given in EIA practice to preventing, migrating and
offsetting the significant adverse effects of proposed undertakings. Environmental Impact
Assessment (EIA) Report is one of the proven management tools for incorporating
environmental concerns in development process and also in improved decision making. The
growing awareness, over the years, on environmental protection and sustainable development
has further given the needed emphasis on requirement of sound environmental management
practices through preparation of Environmental Management Plans for minimising the
impacts from developmental activities.
Life Cycle Analysis:-Developing a product can be very complex. Raw materials come from
many different sources, and obtaining each one of those materials involves a different series
of inputs, outputs and processes, each of which has impacts on the environment. To identify
the total environmental impact of a product it is necessary to do a life cycle analysis. Life
cycle analysis refers to a framework for the appraisal of alternative products, production
processes, or infrastructure investments, which focuses particular attention on the challenges
associated with defining the boundaries of the industrial, technical, or policy systems under
scrutiny. Rather than looking at positive effects or broader social and economic issues,
lifecycle analysis usually restricts attention to the negative environmental or health impacts.
A number of procedures have been developed for systematically tracking the magnitude of
the impacts associated with the full resource chains and facility "lifecycles" associated with
the products or processes under scrutiny. To take the example of energy systems, life cycle
analysis not only would examine the effects due to emissions from particular types of power
stations, but also would include attention to the emissions associated with the transportation
of fossil fuels, heavy metal discharges associated with oil extraction or mining, and the

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Indian Values and Ethics:- 1.Respect for Elders:-Respect for elders is a primary Indian
value. Indian culture puts a high value on experience and age. Indian culture teaches the
individual to admire, respect and obey elders. In the olden days, the Indian people had no
written language, and they carried all that they had learned in their heads. Since wisdom was
passed down from one generation to the next, they acquired knowledge by listening to those
older than themselves. In the organisational context, the conjunction of the abilities of older
and younger people should result in corporate excellence,.2. Respect for Hierarchy and
Status:-Traditional Indian society has been highly structured, determining one's position
throughout life. In the Indian joint family system, a child learns very early in life, respect for
hierarchical layers of people, their status within the family and their varying degree of
authority. Having come through a number of strict codes of behaviour in his family, the
individual in his work-life too, conforms to the rules and regulations of the organisation,
displays high support for his superiors and low deviance and rebellion. 3. Need for
Security:-The Indian system of joint family and the early parent-child relationships are so
protection oriented, that the Indian worker puts a very high premium on security, even in the
workplace, especially in his job. Though it does tend to make many individuals timid and risk
avoiders, and leads to bureaucratic and delayed decision makings, it also results in smooth
acceptance and implementation of decision taken as well as conformity with organisational
norms and smooth functioning of the organisation.4.Non-violence :-does not just mean not
doing violence, it is also a way of taking positive action to resist oppression or bring about
change. The aim of non-violent conflict is to convert your opponent, to win over their mind
and heart and persuade them that your point of view is right. An important element is often to
make sure that the opponent is given a face-saving way of changing their mind
5.Cooperation:- is highly valued. The value placed on cooperation is strongly rooted in the
past, when cooperation was necessary for the survival of family and group. Because of strong
feelings of group solidarity, competition within the group is rare. There is security in being a
member of the group and in not being singled-out and placed in a position above or below
others. Approved behaviour includes improving on and competing with one's own past
performance, however.6.Simple Living High Thinking:- Creativity in the future must, on
the whole, be directed towards serving the "simple living high thinking" goal for humanity in
conformity with the vedantic transformational goal of unfolding the higher self or core self
within which is poorna or that which is automatically whole and self-sufficient in itself. The
essence of Indian way of living is simple living and high thinking. 7.Rights and Duties:-
Rights have no place in the Indian philosophy. This however does not imply that the rights of
individuals are neglected or ignored. When everyone discharges their duties as prescribed,
everyone's rights to get automatically fulfilled. With the correct performance of duties, with
the emphasis on internal attributes of the worker, rather than on the externalities of the work
situation, a wiser worker is developed where the quality of work life gets fulfilled within the
mind of the worker and not from external factors. 8.Ethics in Work-Life:- According to
Gita, duty should be done without ego and without calculations of gain or loss. One should
pour his heart and soul in the performance of one's assigned duty. Work offers double benefit
both personal and social benefit thus work should be worshiped. Gita also emphasises that
work should be done in a perfect way with maximum concentration only then it can reap
maximum result. 9.Holistic Relationship between Man and Nature:- According to this
philosophy there is an intimate relationship between man and the universe, between man and
nature. This view states that all human beings and nature are interconnected and
interdependent. Thus the only law (dharma) of life is service to each other. 10.Attitudes and
Beliefs:- As human beings, we all have our own attitudes and beliefs that we have developed
throughout the course of our lives. Our family, friends, community and the experiences we
have had all contribute to our sense of who we are and how we view the world.

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