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 www.mca.gov.in

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

Business NGO partnership gets a boost in 2010

At the dawn of a New Year, we have some great news on CSR front. In a recent survey by Industry body ASSOCHAM, 70 % of companies prefer to work with NGOs to implement CSR projects. This is a trend that has been growing in the last few years and hopefully will usher in the much needed professionalism and transparency in the discharge of public and community service.

The survey also noted that 58% of companies preferred to work directly with Govt. departments. This is a revelation as many companies shy away from directly partnering with Government for development projects. It is highly likely that even in this scenario, companies still rely on NGO skills and knowledge in project implementation.

Overall, it is a win-win situation and many NGOs are happy to partner with companies as their more traditional sources of funding through donor agencies had dried up. NGOs need to gear up to make the maximum use of this growing trend

Top 10 CSR Issues

CSR Asia released the Top 10 CSR Issues Report that highlights the top 10 CSR issues for the next 10 years in the Asia Pacific Region. The 2009 report ranks the following as the top 10 priorities:
1. Climate Change
2. Corporate Governance
3. Labour and Human Resources
4.Environmental Issues
5. Partnerships with Stake holders
6. Regulation and leadership from Government
7. Community investment and pro-poor development
8. Product responsibility
9. Professionalisation of CSR
10.Bribery and corruption
In this context of growing importance of CSR and sustainable development, the professionalisation of CSR is imminent. A new breed of young professionals with solid grounding in development principles and management techniques is the need of the hour. Current CSR practitioners and professionals should share best practices and develop a comprehensive curriculum for the education and development of CSR professionals.

The full report is available at the CSR Asia website

Teacher training for 21st Century

Education is the focus of many CSR programmes of corporate foundations and MNCs in India. When IBM launched its Smarter Education for a Smarter Planet Roundtable consultation in Chennai last week, there was a smattering of educationalists and NGOs who gave some insights into the role that teacher training plays in transforming school systems to become smarter and effective.

Panelists shared experiences from the field which showed that teacher education should be looked in the context of increasingly technology driven society. Teachers adept at using web 2.0 and social networking tools will be able to connect more with their students and peers and learn through collaboration and sharing.

More teacher training institutes have roped in specialists and professionals to train their teachers in using web 2.0 and other tools to align their skills to requirements of 21st century. IBM and many other IT companies too are sharing their technology expertise to make this a reality. 

The Education Plus page of The Hindu Dt. Nov 16th carries details of this story

CSR Credits for Indian Companies

Companies operating in India now have the option of 'earning' credit for CSR activities. They will even be able to trade these CSR credits in a CSR Credit exchange. This way companies that do not have CSR activities in their portfolio could 'buy' CSR credits from companies that have earned them.

Let us hope that this gives the needed fillip to CSR activities in India which is seeing a rapid upswing in these times of economic recovery.

Best corporate citizens 2009

The acclaimed and trusted Corporate citizenship survey 2009 conducted by CRO is out. IBM tops the list of computer hardware companies at no. 3 in the list of top 100 best corporate citizens. Symantec tops the list for computer software development companies at no.23. The full list and the survey methodology could be accessed from: http://www.thecro.com/100best09

Once again, feedback is divided on this compilation with many people taking exception to CRO covering only big companies and leaving out efforts of smaller companies. Any thoughts on how small companies could get their voices heard?

Please visit and give your views.

CSR makes business sense even during economic recession

Does CSR make business sense in this time of Economic Recession. Yes is the reaffirming answer from corporates across India. Many companies continue without any apparent cutbacks on CSR events and activities. In fact sustainability the core of Community development has become the mantra of companies doing business in these tough times.

Express computer on 22nd June had this article which analyze the CSR scenario against the backdrop of relentless downturn. It is heartening to note that India INC is tightening their purse strings rather than their heart strings.

You can read the full article here: http://www.expresscomputeronline.com/20090622/technologylife01.shtml