All CPSEs (Holding as well as Subsidiaries), without exception, are required to sign MoUs ; while the Apex/Holding companies will sign MoUs with their administrative Ministries/Departments, the Subsidiary companies will sign MoUs with their respective Apex/Holding companies on the same lines as MoU is signed between a CPSE and Government of India.
Corporate Social Responsibility and Sustainability is essentially a way of conducting business responsibly. It is a Company’s commitment to operate in a sustainable manner (Triple bottom line approach) and in the process making it closely linked with the practice of Sustainable Development. CPSEs are therefore, expected to adhere to the global standards and integrate and align their CSR and Sustainability policies and activities with their business goals, plans and strategies.
The Ministry of Corporate Affairs has released CSR Voluntary Guidelines (VG) on Social, Environmental and Economic Responsibilities of Business. These guidelines have been developed to encourage companies to report their activities based on triple bottom line approach i.e. Social, Environmental and Economic.
In light of the recent global developments in this field, these voluntary guidelines have been modified to Sustainable Development and Corporate Social Responsibility guidelines for Central Public Sector Enterprises (CPSEs).
These new guidelines mandate that all CPSEs (covered under these guidelines) should develop sustainable development projects and undertake annual targets with a commitment to implement them along with their financial and business targets.
& Capacity Building