The Indian Institute of Corporate Affairs or IICA recently hosted the National Conference and Exhibition on Aligning Corporate Social Responsibility (CSR) with Sustainable Development Goals (SDGs) in New Delhi. This significant event took place from October 2 to 3, 2024, coinciding with the inaugural Annual CSR Day in India, commemorating the Birth Anniversary of Mahatma Gandhi.
The conference was inaugurated at the prestigious Hotel Lalit by Dr Auguste Tano Kouamé, Country Director for India at the World Bank; Dr Ajay Bhushan Prasad Pandey, Director General and CEO of IICA, who also serves as Chairperson of the National Financial Reporting Authority (NFRA); and Rob Lederer, Chief Executive Officer of the Responsible Business Alliance.
The event also saw the presence of notable figures, including Padma Vibhushan Dr Raghunath Anant Mashelkar, Professor Emeritus at IICA, and Prof. Gourav Vallabh, an economist and finance professor at XLRI. The purpose of this event was to honor the first Annual CSR Day in India and to promote the Trusteeship philosophy within CSR initiatives, with a strong emphasis on aligning CSR efforts to achieve the Sustainable Development Goals.
In his Welcome Address, Dr Ajay Bhushan Prasad Pandey underscored the vital role corporate responsibility plays in building a resilient and inclusive India. He stressed the necessity for coordinated efforts from both public and private sectors to meet the objectives of “Viksit Bharat” (Developed India) by the year 2047, in accordance with the SDGs.
Dr Auguste Tano Kouamé delivered the Keynote Address, commending India’s proactive approach to addressing global challenges through CSR. He highlighted the importance of developing scalable and replicable models that could be implemented worldwide to support the 2030 Agenda. Dr Kouamé recognized India’s expanding role as a leader in integrating CSR with national development goals, encouraging businesses to see CSR as a long-term investment in growth rather than simply a regulatory requirement.
Adding a global viewpoint, Rob Lederer spoke on responsible business practices, advocating that as India’s CSR landscape evolves, it should continue to align with international standards while focusing on local challenges. In his remarks, Padma Vibhushan Dr Raghunath Anant Mashelkar emphasized the significance of innovation in CSR. He called on Indian enterprises to devise disruptive solutions capable of tackling the various challenges associated with sustainable development.
During the event, a book titled “CSR Ready Reckoner in India,” authored by Dr Garima Dadhich and Dr. Ravi Raj Atrey, was launched. This comprehensive guide outlines recent developments in the legal framework governing CSR, presenting key trends and recommendations for effective strategy formulation, compliance, and implementation, as well as providing essential FAQs regarding CSR.
In his closing remarks, Prof Gourav Vallabh stressed the importance of weaving CSR into sustainable business practices. He articulated that CSR transcends being merely a corporate duty; it serves as a catalyst for innovation and social transformation. Through strategic alignment with the SDGs, we can cultivate sustainable growth that benefits both businesses and communities.
He advocated for the concept of Integration, Leveraging, Collaboration, and Inclusiveness (ILCI), urging corporations to exceed the 2% CSR threshold to better serve societal interests through affirmative actions. Dr Garima Dadhich, Associate Professor and Head of the School of Business Environment at IICA, concluded the conference by thanking the esteemed speakers and participants for their invaluable insights. She reiterated IICA’s commitment to advancing the CSR agenda, ensuring it remains central to India’s development journey.
The conference attracted over 400 distinguished attendees from government, academia, and the corporate sector, reinforcing India’s dedication to sustainable development. The accompanying exhibition showcased impactful CSR initiatives that align with the United Nations Sustainable Development Goals (SDGs), highlighting innovations across various thematic areas outlined in Schedule VII of the Companies Act of 2013.
