A STUDY ON ENVIRONMENTAL STEWARDSHIP 30 BOMBAY STOCK EXCHANGE SENSEX COMPANIES

Abstract

Corporate social responsibility (CSR) and Sustainable Development is the responsibility of an organization towards the society and the environment, while sustainable development means meeting the needs of the society within the ecological limits of the planet and without compromising the ability of future generation. Indian Government has mandated the corporate to spend on CSR compulsorily as per the companys act 2013 to ensure that they contribute to the society to safe guard the general environment degradation both ecological and social. As a result of mandated CSR, it is expected that firms will address environmental concerns which may ensure environmental sustainability. In this context it is important to study how corporate taking this initiative seriously in addressing the environmental issues as each and every organization does lot of damage to the environment in different ways. In this study an effort has been made to analyze the CSR spending by the corporate in addressing the environmental stewardship. For this the CSR spending during the years of FY16, FY17 FY18 by 30 Companies contributing to the Bombay Stock Exchange Sensex have been taken up for analysis considering the diverse sectors included in the Sensex for their spending focus on Environmental Stewardship with the importance of protecting the environment for the future generation to live safely. As these companies are public limited companies the data on their CSR spending are taken from the data published in the public domain. Data analysis will provide the insight on their spending pattern on social and environmental category and their implications. Finally concluded with the observation on the current status and suggestion for any improvement.