International Journal of Business Ethics in Developing Economies

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Social Value of Investment towards Corporate Social Responsibility – Evidence from Navratna Company in India


Affiliations
1 Center for Environment and Development, Kolkata, West Bengal, India
2 Professor & Head, Department of Fire Safety Management, Department of Exec. PG Programme in Management, Department of PG Diploma in Supply Chain & Logistics Management, Indian Institute of Social Welfare & Business Management, Management House, West Bengal, India
     

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The aim of this paper is to review the status of corporate CSR practices in a large Navratna Company in India, by critically appraising the resource application in the spectrum of focus areas, schedule VII of the CSR rules, and the consequent impacts. Finally, the study explored the extent of upgradation of social value due to such CSR initiatives. For the purpose of the study, we selected Oil India Limited (OIL), being an upstream company under the sector of crude oil exploration. The findings showed that through its social development activities, OIL has invested immensely in long-term governmental schemes like Swachh Vidyalaya/Swachh Bharat Abhiyan and LPG connections for BPL families, which will address various problems related to education, women, and the environment. Efforts under Swachh Vidyalaya/Swachh Bharat Abhiyan will address twin problems of girl child education and sanitation. The impact of LPG connections for BPL families will be felt on environment as it will reduce the burning of wood and other pollution generating material and at the same time reduce deforestation by reducing the use of wood as domestic fuel in the rural areas.

Keywords

Corporate Social Responsibility, Social Value, Corporate CSR Practices, Focus Area, Companies Act, India
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  • Social Value of Investment towards Corporate Social Responsibility – Evidence from Navratna Company in India

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Authors

Zakir H Molla
Center for Environment and Development, Kolkata, West Bengal, India
Sarbani Mitra
Professor & Head, Department of Fire Safety Management, Department of Exec. PG Programme in Management, Department of PG Diploma in Supply Chain & Logistics Management, Indian Institute of Social Welfare & Business Management, Management House, West Bengal, India

Abstract


The aim of this paper is to review the status of corporate CSR practices in a large Navratna Company in India, by critically appraising the resource application in the spectrum of focus areas, schedule VII of the CSR rules, and the consequent impacts. Finally, the study explored the extent of upgradation of social value due to such CSR initiatives. For the purpose of the study, we selected Oil India Limited (OIL), being an upstream company under the sector of crude oil exploration. The findings showed that through its social development activities, OIL has invested immensely in long-term governmental schemes like Swachh Vidyalaya/Swachh Bharat Abhiyan and LPG connections for BPL families, which will address various problems related to education, women, and the environment. Efforts under Swachh Vidyalaya/Swachh Bharat Abhiyan will address twin problems of girl child education and sanitation. The impact of LPG connections for BPL families will be felt on environment as it will reduce the burning of wood and other pollution generating material and at the same time reduce deforestation by reducing the use of wood as domestic fuel in the rural areas.

Keywords


Corporate Social Responsibility, Social Value, Corporate CSR Practices, Focus Area, Companies Act, India

References