Awareness about corporate social responsibility issues must increase
Corporate social responsibility (csr) is a theme that engages business, academics, social and environmental activism, politics and media. It has gained increased prominence of late, driven, by a globalising economy, the spread of it, and increasing awareness and social and environmental inequities. The debate is especially relevant in countries like India with high growth but weak regulation.
There are differing conceptualisations of csr, yet a commonly agreed upon understanding suggests companies should be responsive to social and environmental issues. Multilateral bodies have tied csr to sustainable development suggesting companies should contribute to securing sustainable development. Many advocate global standards. However, global think tanks argue that a context-specific approach is more feasible and farther reaching.
The question then is: Is India ready for such a contribution?
We recently conducted csr-related interviews in Washington dc, and Delhi, asking experts in government and ngos for their views on csr in the forest industry. We found extreme contrasts in perceptions. Non-compliance with socio-environmental regulations emerged as an issue in India, whereas in the us, issues like the increased need for recycling and biorefinery initiatives were dominant. An Indian paper manufacturer reflected old economic thinking, saying no social activity was possible without at least 25 per cent profitability. Such views give rise to the question whether many industry players are even aware of the concept of csr?
Industry hesitation is understandable in an emerging economy yet, surprisingly, many of our interviewees reflected just the basics of csr. Most responses were wrapped in broad, commonly understood, "nice to talk about' themes. A retired economics professor told us csr "doesn't mean anything unless tied to customer satisfaction'.
Findings from the research and the experiences mentioned above suggest that there is much room for the engagement with csr to develop, though the voluntary sector is engaged. The Worldwide Fund for Nature-India touched on some issues in its recent report titled