Odisha Sun Times Bureau
Bhubaneswar, May 13:
Industries minister Debi Prasad Mishra inaugurated Corporate Governance and CSR (corporate social responsible) Symposium 2015, organized by the Indian Chamber of Commerce (ICC) at Hotel May Fair convention hall in the Odisha capital today.
Speaking on this occasion, Mishra said CSR, which plays a vital role, needs to be holistic and integrated with the core business strategy to contribute to economic development while improving the quality of life of the workforce and their families as well as the community and society at large. “
“CSR can not only refer to the compliance of human right standards, labour and social security arrangements, but also to the fight against climate change, sustainable management of natural resources and consumer protection”, he pointed out.
In his address, Dr Rajeev Singh, Director General, ICC, said over the last few years, an increasing number of companies worldwide have started promoting their business through CSR strategies because the customers, general public and the investors expect them to act in sustainable as well as responsible manner.
“Global consumers have definitive expectations for the role companies should play in addressing social and environmental issues and are avidly considering CSR in a variety of decisions. ICC feels very happy that lot of initiatives on CSR have already been undertaken by NALCO, OMC, Tata Steel, MCL, NTPC, JSPL, Vedanta etc and also helping the state economy being responsible corporate entities. ICC looks forward to work closely with stake holders of the sector for the all round development of the sector,” he added.
Among others, chief secretary GC Pati, Development Commissioner RK Sharma, chairman, Odisha Mining Corporation (OMC) and principal secretary, Steel & Mines Sanjiv Chopra, CMD, IPICOL and principal secretary, Industries, Ms Sibani Swain, IES, Economic Adviser, Ministry of Corporate Affairs, GS Prasad ,CEO, Rourkela Steel Plant (SAIL), SK Mohapatra, Director, Dhamra Port Company Ltd also spoke.
JB Pany, MD, Radiant Telesystems Pvt Ltd and executive member, ICC Odisha Expert Committee, gave vote of thanks.
The first plenary session was addressed by session chair SC Bhadra, FCA, Partner, SRB & Associates.
The panelists discussed on policy framework in corporate governance, new policies in corporate governance, efficient prioritization and balancing of interests, board composition and diversity, monitoring and measuring the effectiveness.
The second plenary session discussed on children’s interests and corporate, issues on mandatory CSR, CSR-Measurement & Reporting, and CSR & shareholders value, establishing linkage between sustainability & CSR, challenges in implementing CSR, showcasing best practices in CSR.