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How top companies are blending CSR with responsible growth

Source | The Economic Times : By Utkarsh Majumdar, Namrata Rana and Neeti Sanan

Can a company that allocates sumptuous amounts for social initiatives be hailed a good company when its business operations cause long term systemic damages to the environment or economy?

CSR is largely about spending monies as a small portion of the profits made. What is germane today is ‘how’ a company makes its profits in an era of climate and sustainable development challenges. Responsible growth and an adherence to the tenets of sustainability, therefore,

is critical for the good of communities, national economies and the world. CSR alone is not good enough.

India’s ‘Top companies for Sustainability and CSR’, in its third year, attempts to examine companies, 217 of them, through the CSR microcosm and also on larger issues of sustainability. The study — a partnership between IIM Udaipur, Futurescape and The Economic Times – is an unbiased, quantitative and analytical examination of this blend.

How top companies are blending CSR with responsible growth
1 . Only the Top 33 per cent firms believe in taking a long-term view on responsible business.

2. Governance for business responsibility sees improvement. The average governance score is the highest of the four factors. This year more than 54 per cent companies have scored more than half the marks on governance vs 47 per cent last year.

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