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Role of Companies in Environmental Management Through Corporate Social Responsibility and Sustainability Policy

  • Deepika Jindal
  • Indu Jain
Conference paper

Abstract

As the world approaches towards rapid industrialization and globalization, the efficient use of resources along with their conservation has become the mantra for the world to move on sustainable development path. While companies are involved in various activities to produce and trade goods and services to maximise their profit and increase shareholder’s wealth, they need to simultaneously focus on Environmental Management, Corporate Social Responsibility and Sustainability policy. The responsibility towards society and environment just no longer lies with the Public Sector and Government but also with the Private Sector. As per the Companies Act 2013, it has become compulsory for large companies to spend 2% of their net profits on Corporate Social Responsibility activities. Indian Companies which are actively working in this area include Mahindra and Mahindra, Tata Steel, Reliance Industries, Hero Motors, Infosys and Wipro to name a few. Various activities undertaken by companies for Environment Management under CSR include water conservation, tree plantation, developing green products, using renewable sources of energy and waste management. The paper aims to analyse the initiatives and steps taken by selected Indian Companies under CSR and Sustainability for Environmental Management and Protection. It also focuses on what areas of environment they have covered and the impact of these initiatives. This is done by analysing secondary sources of information. Also it provides suggestions on various other initiatives that can be taken and how these can be effectively implemented for better future of the country.

Keywords

Corporate Social Responsibility Environmental Policy Sustainability Policy Strategy 

References

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Further Reading

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    Samuel J, Saari A (2007) Corporate social responsibility. http://infochangeindia.org/corporatesrlbP.jsp. Accessed 1 Nov 2016
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    International Financial Corporation. The role of the private sector in natural resource management. A focus on forests. http://siteresources.worldbank.org/INTENVMAT/64199955-1162240805462/21127302/16IFC.pdf. Accessed 1 Nov 2016
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    GAIL (India) Limited. http://www.gailonline.com/final_site/pdf/SR_14-15_Final.pdf. Accessed Nov 2016

Copyright information

© Springer Nature Singapore Pte Ltd. 2018

Authors and Affiliations

  1. 1.Daulat Ram CollegeNew DelhiIndia

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