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Ways to strengthen CSR activities of Indian corporates and make the exercise more meaningful were discussed at the sixth National Convention of Global Compact Network India here on Friday.
The United National Global Compact is the largest voluntary CSR initiative in the world with more than 8,000 companies from more than 130 countries being a part of it. The principal objective is to internalise its 10 principles covering issues such as human rights, labour, environment and anti-corruption.
The tone for the meeting was set by Mr E.S.L. Narasimhan, Governor of Andhra Pradesh, who said that corporates should not look at CSR activities as giving away some money to beneficiaries. “CSR activities should have long lasting solutions. Especially, in the case of land acquisition, corporate houses should be more transparent in the compensation offered by them to the displaced persons,” he said.
Partner in development
The Governor said, companies should not merely confine themselves to making profits, but should be a part of national development. “Corporates should battle corruption. This may not happen immediately, but a sustainable beginning should be made by all stakeholders,” he pointed out.
Mr Rana Som, Chairman and Managing Director of NMDC, Mr Arun Maira, Member, Planning Commission and Dr Uddesh Kohli, Senior Advisor, US Global Compact, also spoke on the occasion.
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