Corporate social responsibility and India Inc: IT leads, finance lags
Thursday, January 16, 2014
A KPMG survey covering top 100 (by gross revenues for FY12-13) listed companies ,shows that CSR reporting in India largely assumes the form of limited discussion on community development and/or environmental protection initiatives as disclosed by companies in their annual reports and websites rather than corporates comprehensively covering aspects of, governance, targets and commitments, and performance.
““The need for business transparency and accountability is felt greater than ever. Regulations like Clause 55 (Business Responsibility Reporting) of the listing agreement and CSR disclosure under the new Companies Act will drive the reporting agenda in India. It is no more a choice for companies to report or not to report,” said Raajeev Batra, Head of KPMG Climate Change and Sustainability Services in India.
Source: First Post Business (link opens in a new window)
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