New guidelines for PSUs on CSR this week: Govt

Government will release a new set of guidelines for public sector undertakings this week on corporate social responsibility (CSR) activities.

New Delhi: Government will release a new set of guidelines for public sector undertakings this week on corporate social responsibility (CSR) activities.

This was stated by Joint Secretary in the Department of Public Enterprises AK Pavadia at a Ficci conference here.

Pavadia said that the government is providing an overarching framework in which corporate social responsibility (CSR) is embedded.

He asked businesses not to restrict their social and community spending to 2 per cent as mentioned in the Companies Act, the compulsory CSR spending, and should expand and go beyond it to achieve a sustainable business model. He added that now the PSUs will have to report the sustainability initiatives undertaken by them.

The conference brought together Indian and international Life Cycle Assessment/Management (LCA/LCM) experts and interested stakeholders to promote Life Cycle Approaches in India.