TITLE:Corporate Bharat , etc., are talking of being water

TITLE:Corporate Social Responsibility and Sustainable DevelopmentINTRODUCTION:The neo-liberal development model essentially refers to liberalization, privatization and globalisation of the earth’s resources for the greater benefit of the people. The emergence of big corporate and their ambition for the optimization of individual profits has not only divided the world between the rich and poor but have also led to an imbalance between development and environmental sustainability. Recent studies and surveys have shown that the earth is gradually becoming a dangerous place to live due to unsustainable human induced activities. Given that, the governments of many countries have stood up firmly to ensure that the ongoing developmental practices remain in optimal harmony with environmental sustainability as well as human security. Hence, the idea that environmental and social security are not only the responsibility of government but demands an effective participation from the corporate and business world. Although, much have been done in the theoretical domain to make Indian corporate aware of social responsibility and environmental ethic as an important segment of their business activity but very little has been achieved as yet. This study is an attempt to highlight the importance of Corporate Social Responsibility as a tool to ensure greater participation of business entrepreneurs toward protecting the natural eco-system and enhancing the quality of life while undertaking a developmental activity. The study will also elucidate the theoretical and practical contribution of CSR toward achieving the goal of sustainable development in India. Sustainability reports as communication tool for CSRIn India, with the impact of globalisation, larger activism among stakeholder, and the greater flow of information to all the parties involved, demand that corporates do their businesses activities in a transparent and socially responsible manner. The sustainability reports which are released by the corporates for the stakeholders showcase the social activities undertaken by companies and also provide sustainability accountability of the company. Most companies are moving towards creating sustainable growth models in different ways. As manufacturing companies explore the interlinkages of supply chains it is evident that waste, water, energy and materials are closely linked to business continuity. There is a growing realization that growth without adversely impacting the environment is now an expected goal. Forward looking companies like Ambuja Cement, ITC, Dalmia Bharat , etc., are talking of being water positive several times over.The companies have Corporate Social Responsibility activities and strategies since their public, customers and investors expect them to be sustainable and responsible. The definition for reports on sustainable development has been stated as the public reports by companies which provides internal and external stakeholders with a snapshot of corporate’s stand on activities in perspective of environmental, social and economic dimensions. Usage of sustainability report is one of the recent ways for CSR communication used by the companies.The sustainability report content and nomenclature has evolved over the past decade. It has either been called global citizenship report, corporate social responsibility report or sustainability report. However, regardless of the way it is named, these reports released by companies are a stage or platform for companies to show to all the stakeholders from a top level regarding the positive responsible corporate citizenship the company follows. The CSR activities can also act as differentiating factor for many companies and they can identify their uniqueness in this manner. For example, ITC takes pride in its green forestation and boasts of being the greenest and most sustainable companies in India. Over the past year, it has covered almost 1.60 lakh hectares of land under forest. Similarly coke and Pepsi as a part of CSR and sustainability strategy work on being water positive and environment friendly. The sustainability reports are channels for communication to the external world used to communicate regarding its CSR activities and it is gaining popularity among various companies. Corporate Social Responsibility (CSR) Communication is an extremely important aspect of corporate communications as it gives legitimacy to companies’ activities and actions and aids in covering up and preventing the negative attitudes associated with big corporates and their actions. With an expected CSR spending requirement by these companies reaching up to 10,054 Crores in FY15(Capital line database 2014), the important issue to ponder is how these companies are spending on their CSR activities.Challenge: Making CSR initiatives sustainableTill now, we saw the importance of CSR activities under the light of Companies Act and opportunity for companies to use sustainability report as an indirect tool for communicating CSR activities. But one big challenge which remains is, the companies have to see to that the CSR activities are sustainable, be it social or environmental.Corporate social responsibility activities conducted by companies are a part where a strong social base for a better future and to show concern to garner attention to social and environmental causes. CSR activities range from being a channel or medium to give back in a little manner to the society and country, to leading in the forefront in impacting environmental and social welfare. Recently it has indeed occupied a centre stage in different sections of social areas. CSR or sustainability development has not just been narrowed to branding or marketing gimmick or strategy.In the current world, with the increase of a more socially responsible people infused into workforce has driven sustainable development for companies in company activities to a whole new level. Sustainability in every aspect be it supply chain, material procurement, marketing, branding, finance, mergers and acquisitions and many more functions is highly valued.With this challenge of having a self-sustaining CSR activity agenda, the companies are coming up with initiatives that are sustainable and work on understanding at which point to drop or alienate from such activities which are detrimental or destructive to the core work of the company.STATEMENT OF THE PROBLEM”Corporate social responsibility”, an unremittingly contested concept since its inception, has attracted global interest in a progressively integrated world economy. Although it is not a contemporary concept, corporate social responsibility (CSR) is developing into a global norm. Today, Indian companies are expected to promote and practice CSR for sustainable development. However, the inability to establish a comprehensive definition and understanding of CSR has led to either inconsistent application of it or complete disregard for it. This study is inspired by the ongoing debate among proponents and opponents of CSR about a shift in the adoption of CSR by sustainable development. On the one hand, there is a growing demand for sustainability to take a leading role in meeting society’s needs since these needs have exceeded the government’s capacity to fulfil them. The government is traditionally viewed as the sole agent for development but proponents of CSR argue that businesses should share this responsibility. HYPOTHESISCSR is an effective tool for sustainable development.OBJECTIVES:• To make a critical analysis of the relation between corporate social responsibility and sustainability• To analyse CSR in an Indian scenario.• To explore factors inhibiting successful implementation of sustainable development• To understand the areas of CSR in which the companies are involved.• To study the challenges in implementation in CSR and recommendation for effective implementationSCOPE OF THE STUDYThe study is confined to examine the practice of corporate social responsibility of Indian Industry covering small, large and multinational companies having their head office in Delhi and NCR.The scope of the study will be limited to the practice of Corporate Social Responsibility of selected companies in Delhi.METHOLODOLOGYMethodology is the key to any kind research. It helps to maintain a track of what to do and not to do. It has various approaches to it. A good methodology works as a strong plan for collecting both primary and secondary data. There are different ways of adopting good methodology. There are two main ways to collect data, which is, primary and secondary. In fact, both are necessary to provide a balanced study on any kind of research. Research Design:The study will be both the exploratory and descriptive studies for my research question and objectives while conducting the research.Data collection Methodology:Primary data collectionThe approach of gathering data will be collected from asking questions on the basis of interview and questionnaires.Secondary data analysisa) Websitesb) Journalsc) Newspapers and Magazined) Research articlese) Annual report of Indian companiesf) Visiting regional office of Indian firmsSamplingSampling Technique – Both Probability and Non probability sampling techniques.Sampling Method –These are the methods which will be use for my research. Those are: Simple random sampling, systematic sampling.Sample size-50 respondents of Indian companiesSampling Area – Delhi