Evolution of the Sustainability Agenda for CSR

At a point where individuals are confronted with a crisis, they can either choose to fight or flight. It is a prompt and primitive reaction. However, there is a third reaction also, one that can enduringly affect mankind — the opportunity to ruminate on course correct and status quo. The present pandemic that has brought the world to an abrupt stop has given us the opportunity to analyse self, organisations, and countries’ actions and how we must channelize our resources in order to do better.

For years, the land has been prized ownership. The individuals who have it are in an ideal situation than the individuals who don’t. Sadly, the quench for such ownership can never be satisfied. This prompted wars and as nations battled to vanquish regions and secure their own boundaries. Before, nations spent a huge chunk of their winnings on keeping up their military and adding more weaponry to their collection. Throughout the years, ways of fighting changed and the defense finances of nations began growing exponentially. Interest in arms, complex weaponry, and innovative work of atomic capacities turned into the key need for most countries. Capitalism became the most popular expression and aiming for profits became the corporate agenda across the world. None or little heed was given to the adverse effects of capitalism and rapidly growing industrialization that resulted in impacting the well-being of the earth and earthlings.

With profit and greed becoming the mantra in the latter part of the last century, the early stages made a noticeable shift to sustainability.

The Role of Corporate Social Responsibility

Sustainable development has been a way of life for many individuals these days and it is also becoming a part of industries. It is a development process that will help us meet the needs of our present without having to compromise the future of the coming generations. Through these companies will not only work for their profits but also for environment protection, economic development, and community elevation. In 2014, the 2% bill was executed in India which made all the corporate entities with the average net profit of Rs 50 million to invest 2% of them in the previous three years on Corporate Social Responsibility (CSR) activities. From that point forward, numerous organizations have set up trusts and submitted assets to different causes that add to sustainable development.

Governments should actively put resources for the sustainability plan in order to make our healthcare sector able to fight this virus effectively. The national procedures for sustainable improvement ought to give a larger system to all approaches inside the nation and mustn’t be treated as an idea in retrospect. The initial move towards this is to make higher budgetary distributions for sustainable development and establishing responsibility among all stakeholders.

In the most recent years, it has been seen that the companies are becoming more sustainably smart by using their CSR funds in times of national crisis or for the greater good by donating and benefiting the society. As years passed by, the agenda of the companies have been shifting from weaponries and profits, making room for sustainability which will not only be beneficial for the country but also for humanity.