Thursday, 18 February 2010

Guidelines for Corporate Governance and Corporate Social Responsibility

Ministry of Corporate Affairs, Govt. of India released the Voluntary Guidelines for Corporate Governance and Corporate Social Responsibility. The documents could be downloaded from the MCA website

The comprehensive guidelines cover the core elements of Corporate Governance and CSR. Aimed at ushering in transparency in operations of small and big companies, the guidelines offer many suggestions. The CSR guidelines also specifies that every company should have a comprehensive CSR policy. The CSR policy should cover the following core elements:
  1. Care for all Stakeholders
  2. Ethical Functioning
  3. Respect for Workers Rights & Welfare
  4. Respect for Human Rights
  5. Respect for Environment
  6. Activities for Social and Inclusive Development
This is a progressive step and shows the intentions of the Government to bring in the much needed transparency and guidance for companies to discharge their social obligations. Hope Companies follow the guidelines in its true spirit and engage in inclusive and sustainable development

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