From ‘spend or explain’ to ‘spend or get penalised’: how CSR norms shift the goalpost

From ‘spend or explain’ to ‘spend or get penalised’: how CSR norms shift the goalpost

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Concept by Muhabit ul haq

Synopsis

The voluntary aspect of CSR initiatives has been done away with. The penalty for non-compliance is now clearly defined. The rules have also changed the focus of CSR spends from ‘comply and celebrate’ to ‘collaborate and scale’. It’s time corporates redefine their CSR action plans to match up with the recent changes in law.

Norms, ethics, code, and law – it happens in that order. Social norms are expected to evolve to become a code, which a community and a society lives by and stamps into law. This is how the rules for corporate social responsibility (CSR) have also been evolving. Eight years ago, when CSR rules were first enacted in the country, there was a lot of freedom for corporates to plan and innovate. A number of companies did take up new welfare

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