Media Release
Mangaluru, Jan 16: A Sparc sponsored international symposium on a contemporary theme 'Voluntary or Mandatory: What should be the Public Policy on CSR?' was held at Justice K S Hegde Institute of management being organised by Nitte (Deemed to be University) on January, 10.
The symposium consists of internationally acclaimed panelists like Prof Dr Femida Handy, professor of Social Policy School of Social Policy and Practice, University of Pennsylvania, USA, Prof Dr Ram A Cnaan, professor and director, programme for religion and social research, University of Pennsylvania, USA, Kishore Alva, president and executive director, Adani Group, Raviraj Belma, group project manager, Infosys Ltd.
The symposium was moderated by Prof Dr M S Moodithaya, vice chancellor, Nitte (Deemed to be University).
The moderator started the deliberations with a remark that what initially thought should lead by example is now taking a professional shape in the form of CSR initiatives by companies across the globe. Mandatory provisions of CSR under section 135 of the Companies Act, became effective from April 1, 2024. This is essential to achieve inclusive development of India. Now the companies are mandated to set aside 2 percent of their net profits on CSR activities. But in some other countries, including the USA, CSR activities are still not mandated it is a voluntary initiative. He started the deliberations of the symposium by asking a series of research- based questions to panalists and he tried to blend the actual research and practice of CSR in the context of its mandate and voluntary initiative.
Prof Dr Femida Handy said that CSR is a global, fashionable concept. It signals economics in the sense that it has to be cost effective and it has to cater to shareholder value and should minimize the risks. She further said, there will be a lot of stakeholders with diverse interests in the study and implementation of CSRs. It is a multi-disciplinary area of research, she added. Since CSR is made mandatory in India, a new set of research questions will emerge: what should be the focus of CSR after the mandate? What changes in the format of CSR are being observed? What is the motivation for CSR after the mandate to take it forward? Is there any alignment between core competencies of companies and CSR delivery? how the new policy of CSR is being implemented? Dr Femida said we need to find practical answers to these questions. CSR initiatives involve behaviours of the players more than just data, she said.
Speaking at the symposium, Prof Dr Ram A Cnan said that CSR by itself is a 'weighty word'. CSR is not a new concept. It has been a practice among us since time immemorial. If CSR and sustainability goes hand in hand, it is really good and beneficial. CSR involves a case of resource management. Today, sustainability is a global issue. It cannot be solved so easily, Dr Ram said.
Kishore Alva very clearly pointed out that the success of CSR activities depends upon how the companies blend with the local eco-system. Quoting the example of Adani Group, Alva said, the complete sustainable success of CSR requires a lot of ‘cultural alignment’. It is a complex affair. The policy makers should dwell on this critical aspect carefully, he added. He said, "Our intentions and purpose should be 'genuine' to make it long lasting and sustainable."
Raviraj Belma clearly articulated the CSR format and operation of 'Prerana', Infosys's official Foundation. He said that Infosys's CSR initiatives are implemented through it. He further said that 'giving back to society' by itself is the primary responsibility of all human beings and organizations. "We have been using everything from society. We are a part and parcel of society. So, there is a 'responsibility' to contribute to societal welfare," he added. He also said that CSR should be made more purpose driven than just strategic character. It is more a matter of heart than the brain, he said.
The panelists interacted with the MBA students, the academicians and research scholars, including the team of students and researchers from the University of Pennsylvania USA.
The moderator summed up the symposium by saying that the CSR public policy framework by itself is not so easy to understand and implement. The research in the area can shed a good deal of light in framing a good public policy on CSR. The deliberations of this Sparc sponsored international symposium can provide a good directive for policy framework, the moderator emphasized.
Dr Sudhir Raj K, professor, anchored the programme.