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Business Economy


Corporates need to look at sustainable development issues relevant to regions: Chaudhary

Corporates need to look at sustainable development issues relevant to regions: Chaudhary

New Delhi, Mar 6 (UNI) Minister of State for Law & Justice and Corporate Affairs PP Chaudhary on Tuesday urged industry to look at sustainable development issues relevant to different regions in the country and avoid a 'one size fits all' approach to meet the growing requirements of building robust companies and an inclusive and responsive society.

Addressing FICCI's 'India Sustainability Conclave 2018' on theme 'Balancing business goals in a sustainable paradigm', Mr Chaudhry said good corporate governance was not just a means of enhancing long term value for companies but also to provide lasting benefits to consumers and other stakeholders.

Corporates, therefore, need to look beyond the four walls of their companies and strive to match the drive to become responsible and accountable entities with the benevolent impact of their actions on the environment and society, he emphasised.

The Minister said the role of corporates in CSR and delivery of SDGs was important as the amount spent by them on CSR activity was much higher than government spending on development.

This is borne out by CSR data captured in the National CSR portal which disseminates CSR-related data and information filed by the companies registered with it, he said.

On the occasion, Mr Chaudhry launched a FICCI compilation titled 'Corporates for Change'.

Ashok Chawla, Chairman, National Stock Exchange of India Ltd & Former Secretary,

Ministry of Finance, Government of India; Mr Lorenzo Pavone, Deputy Head, Partnerships and Networks Unit, OECD Development Centre; Mr V Parthasarathy, Chairman, FICCI CFO Council & Group CFO & CIO, Member of the Executive Board, Mahindra & Mahindra Group and FICCI Director General Dilip Chenoy also shared their perspective on the issue, according to an official statement here.

UNI RSA SHK 1829

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