Minister for Corporate Affairs Salman Kurshid mooted the concept of social credits being assigned to companies undertaking corporate social responsibility (CSR) activities, saying that if need be, his ministry may consider making some standards enforceable in future in this regard.
‘The ministry has issued guidelines with regard to CSR activities. We will make a review of these after a year. It is then that the government may consider whether some standards can be made enforceable,’ Kurshid said while inaugurating a workshop on corporate social responsibility by small and medium enterprises.
Kurshid spoke about incentivising CSR activities and in this connection mooted the concept of social credits being given to companies that undertake such activities. The minister said that social credits can be on the lines of carbon credits, which is a form of recognition for improving the ecological systems.
During the workshop, a general view prevailed of the less recognized role played by small and medium enterprises in contributing to CSR activities, even in the far-flung areas of the country. This is notwithstanding the fact that the limelight with regard to CSR actions is always hogged by big companies that undertake such activities.
Case studies were presented on how small companies are doing their bit by way of improving health and education, maintaining sewage systems, greening of local areas, contributing to local charities, building of local roads and other infrastructure and, above all, ensuring the welfare of their workforce.
‘Small is beautiful. They too have a heart. CSR is about ethics, values and a fervent desire to see the nation grow in terms of prosperity, might and one which must find its rightful place in the comity of nations,’ said Prof JS Sodhi, director, Shri Ram Centre For Industrial Relations & Human Resources, who anchored various sessions at the workshop.