408 : (GE - UL - 22) CORPORATE SOCIAL RESPONSIBILITY &

SUSTAINABILITY
(2019 Pattern) (Semester - IV)
Time : 2 Hours] [Max. Marks : 50
Instructions to the candidates :
1) All questions are compulsory.
2) Make necessary assumptions wherever required.
3) All questions carry equal marks.

Q1) Solve any 5 out of 8 : [5 × 2 = 10]

a) Define Carbon Credit.
b) What does the term Business Ethics mean?
c) Define the term Corporate Citizenship.
d) Which are the three principles of CSR?
e) List out the three dimensions of sustainable development.
f) Match the following :
i) Charity 1) Supporting medical research team in finding
cure for Covid-19 virus

ii) Philanthropy 2) Providing food and shelter to the poorest that

have lost livelihoods because of Covid-19
Virus
3) Paying bonus to the employees during
Covid-19

g) The Environmental, Economic and Social dimensions of sustainable

development are correlated with 3Ps. They are –, – and –.
h) Define Corporate Governance.

a) Define Carbon Credit.

A carbon credit is a tradable certificate that represents the right to emit one tonne
of carbon dioxide (CO2) or the equivalent in other greenhouse gases. Carbon
credits are created when an organization reduces its emissions below a certain
level, or when it removes CO2 from the atmosphere. These credits can then be
sold to other organizations that need to offset their emissions.
b) What does the term Business Ethics mean?

Business ethics is the study of the moral principles that guide businesses in their
decisions and actions. It is concerned with how businesses should behave in order
to be ethical and responsible. Business ethics covers a wide range of topics,
including corporate social responsibility, environmental sustainability, and fair
labor practices.

c) Define the term Corporate Citizenship.

Corporate citizenship is the concept that businesses have a responsibility to act in a

way that is beneficial to society as a whole. This includes a commitment to
environmental sustainability, social responsibility, and ethical business practices.
Corporate citizenship is often seen as a way for businesses to build goodwill and
trust with their stakeholders.

d) Which are the three principles of CSR?

The three principles of CSR are sustainability, accountability, and transparency.

• Sustainability refers to the company's commitment to operating in a way

that does not harm the environment or society. This includes reducing
emissions, using sustainable materials, and giving back to the community.
• Accountability refers to the company's commitment to being transparent
about its operations and to reporting on its social and environmental impact.
This includes publishing sustainability reports and making information
about its practices available to the public.
• Transparency refers to the company's commitment to being open and honest
about its operations and to avoiding any form of deception. This includes
being truthful about its products and services, and about its environmental
and social impact.
e) List out the three dimensions of sustainable development.

The three dimensions of sustainable development are economic, social, and

environmental.

• Economic sustainability refers to the ability of a society to meet its basic

needs for food, water, shelter, and healthcare. It also refers to the ability of a
society to grow its economy in a way that does not harm the environment.
• Social sustainability refers to the ability of a society to provide its citizens
with a good quality of life, including education, healthcare, and social
security. It also refers to the ability of a society to reduce poverty and
inequality.
 • Environmental sustainability refers to the ability of a society to protect its
natural resources and to reduce its environmental impact. It also refers to the
ability of a society to adapt to the effects of climate change.
f) Match the following :

The correct matches are:

• Charity – 2) Providing food and shelter to the poorest that have lost
livelihoods because of Covid-19 Virus
• Philanthropy – 1) Supporting medical research team in findingcure for Covid-
19 virus

• Paying bonus to the employees during Covid-19 - 3

Charity is the act of giving money or goods to help those in need. Philanthropy is
the act of giving money or time to support a cause that is important to you. Paying
bonus to the employees during Covid-19 is a way of showing appreciation for their
hard work and dedication.

g) The Environmental, Economic and Social dimensions of sustainable

development are correlated with 3Ps. They are –, – and –.
The three Ps of sustainable development are People, Planet, and Profit.
• People refers to the social dimension of sustainable development. It includes
factors such as poverty, inequality, education, and healthcare.
• Planet refers to the environmental dimension of sustainable development. It
includes factors such as climate change, pollution, and resource depletion.
• Profit refers to the economic dimension of sustainable development. It
includes factors such as economic growth, jobs, and innovation.

h) Define Corporate Governance.

Corporate governance is the system by which companies are managed and
controlled. It includes the rules and procedures that govern how a company is run,
and how its directors and executives are held accountable.
Good corporate governance is essential for sustainable development. It helps to
ensure that companies are managed in a responsible and ethical way, and that they
take into account the interests of all stakeholders, including shareholders,
employees, customers, and the environment.
Here are some of the key elements of good corporate governance:
• Transparency: Companies should be transparent about their operations and
financial performance.
• Accountability: Companies should be accountable to their shareholders and
other stakeholders.
• Board oversight: The board of directors should be responsible for
overseeing the management of the company.
• Risk management: Companies should have a system for managing risk.
 • Compliance: Companies should comply with all applicable laws and
regulations.
Good corporate governance is essential for building trust and confidence in the
business community. It also helps to ensure that companies are managed in a way
that is sustainable for the long term.

Q2) Solve any 2 out of 3 : [2 × 5 = 10]

a) Describe the scope of CSR activities under Schedule VII of Companies
Act 2013.
Schedule VII of the Companies Act 2013 lists the activities that companies can
undertake as part of their corporate social responsibility (CSR) initiatives. The
schedule includes a wide range of activities, covering the following areas:

• Poverty alleviation and eradication: This includes activities such as

providing food, shelter, education, and healthcare to the poor.
• Healthcare: This includes activities such as promoting preventive healthcare,
providing medical care to the needy, and supporting research into new
treatments.
• Education: This includes activities such as providing scholarships,
supporting schools and colleges, and promoting adult literacy.
• Environment: This includes activities such as planting trees, reducing
pollution, and conserving natural resources.
• Women empowerment: This includes activities such as promoting gender
equality, providing vocational training to women, and supporting women's
organizations.
• Skill development: This includes activities such as providing training to
people in need, promoting vocational education, and supporting skill
development initiatives.
• Rural development: This includes activities such as promoting rural
employment, providing infrastructure in rural areas, and supporting rural
development projects.
• Disaster management: This includes activities such as providing relief to
people affected by disasters, supporting disaster preparedness initiatives,
and promoting disaster risk reduction.

In addition to the activities listed in Schedule VII, companies can also undertake
other CSR activities that are aligned with their business and social objectives.
However, all CSR activities must be aligned with the company's overall CSR
policy, which must be approved by the board of directors.

The Companies Act 2013 also requires companies to spend at least 2% of their
three-year average net profits on CSR activities. This amount must be spent on
activities that are aligned with the company's CSR policy and that are approved by
the board of directors.

CSR is an important part of corporate governance and sustainable development.

By undertaking CSR activities, companies can help to improve the lives of people
in their communities, protect the environment, and build a more sustainable future.

b) Narrate the role of Stakeholders and the importance of Stakeholder

engagement in sustainable development.

Stakeholders are individuals or groups who have an interest in a company or

organization. They can include shareholders, employees, customers, suppliers,
communities, and the environment.
Stakeholder engagement is the process of involving stakeholders in the decision-
making process of a company or organization. It is important for sustainable
development because it helps to ensure that the needs and interests of all
stakeholders are taken into account.
There are many benefits to stakeholder engagement in sustainable development.
For example, it can help to:
• Improve decision-making: By involving stakeholders in the decision-
making process, companies can get feedback on their plans and make
better decisions that are more likely to be successful.
• Build trust and collaboration: Stakeholder engagement can help to build
trust and collaboration between companies and stakeholders. This can be
important for achieving sustainable development goals, as it requires the
cooperation of many different actors.
• Increase transparency: Stakeholder engagement can help to increase
transparency and accountability of companies. This can be important for
building public trust and support for sustainable development initiatives.
There are many different ways to engage stakeholders in sustainable
development. Some common methods include:
• Consultation: This involves asking stakeholders for their input on a
particular issue or decision.
• Participation: This involves giving stakeholders a more active role in the
decision-making process.
• Collaboration: This involves working with stakeholders to develop and
implement sustainable development initiatives.
The level of stakeholder engagement that is appropriate will vary depending on
the specific situation. However, it is important to engage stakeholders in some
way in order to ensure that sustainable development goals are achieved.
Here are some specific examples of how stakeholder engagement has been used
to promote sustainable development:
 • The World Bank: The World Bank has a long history of engaging
stakeholders in its work on sustainable development. For example, the
World Bank's Water Resources Management Project in India involved a
wide range of stakeholders, including government officials, community
members, and non-governmental organizations. The project was successful
in improving water management and reducing water pollution.
• The Coca-Cola Company: The Coca-Cola Company has a long-standing
commitment to sustainable development. The company engages
stakeholders in a variety of ways, including through its Sustainable Living
Plan. The Sustainable Living Plan sets out a number of goals for the
company, including reducing water use, improving water quality, and
promoting sustainable agriculture. The company has made progress on
these goals, and stakeholder engagement has been an important part of this
success.
• The Government of India: The Government of India has a number of
programs and policies that promote sustainable development. The
government engages stakeholders in a variety of ways, including through
public consultations, roundtables, and workshops. The government has
made progress on a number of sustainable development goals, and
stakeholder engagement has been an important part of this success.
These are just a few examples of how stakeholder engagement has been used to
promote sustainable development. There are many other examples around the
world, and the practice of stakeholder engagement is becoming increasingly
common. Stakeholder engagement is an important tool for achieving sustainable
development, and it is likely to become even more important in the future.

c) Describe Triple Bottom Line and Summarise the significance of TBL

Reports.
The triple bottom line (TBL) is a framework for measuring the performance of an
organization in terms of its economic, social, and environmental impact. It was
first developed by John Elkington in 1994, and it has since become an increasingly
popular way for organizations to assess their sustainability performance.

The three pillars of the TBL are:

• Economic : This refers to the financial performance of the organization.

• Social : This refers to the impact of the organization on its employees,
customers, suppliers, and the community.
• Environmental : This refers to the impact of the organization on the natural
environment.

TBL reports are a way for organizations to communicate their sustainability

performance to their stakeholders. They typically include information on the
organization's economic, social, and environmental performance, as well as its
goals and targets for the future.

The significance of TBL reports is that they can help organizations to:

• Improve their sustainability performance: By tracking their performance

against their goals and targets, organizations can identify areas where they
can improve their sustainability performance.
• Build trust and credibility with their stakeholders: TBL reports can help
organizations to build trust and credibility with their stakeholders by
demonstrating their commitment to sustainability.
• Attract new customers and investors: TBL reports can help organizations to
attract new customers and investors who are interested in doing business
with sustainable organizations.

TBL reports are becoming increasingly important as more and more stakeholders
are demanding that organizations be transparent about their sustainability
performance. By issuing TBL reports, organizations can demonstrate their
commitment to sustainability and build trust with their stakeholders.

Here are some of the benefits of TBL reports:

• Improved decision-making: TBL reports can help organizations to make

better decisions by providing them with a more comprehensive view of their
performance.
• Increased transparency: TBL reports can help to increase transparency and
accountability of organizations.
• Enhanced stakeholder engagement: TBL reports can help to engage
stakeholders and build support for sustainability initiatives.
• Improved reputation: TBL reports can help to improve the reputation of
organizations and attract new customers and investors.

Overall, TBL reports can be a valuable tool for organizations that are committed to
sustainability. They can help to improve decision-making, increase transparency,
enhance stakeholder engagement, and improve reputation.

Q3) Solve (a) or (b) : [10]

a) Use various examples to explain and differentiate between Charity and
Philanthropy done by various Corporates.

here are some examples of charity and philanthropy done by various corporates:
Charity is a form of giving that is typically focused on meeting the immediate
needs of those in need. It can involve donating money, goods, or time to a
charitable organization. For example, a corporate might donate money to a food
bank to help feed the hungry.
Philanthropy is a form of giving that is typically focused on addressing the root
causes of social problems. It can involve funding research, starting new
programs, or advocating for policy change. For example, a corporate might fund
research into a new cure for a disease or start a program to help educate children
in a developing country.
Here are some examples of how charity and philanthropy have been used by
corporates:
Charity:
• PepsiCo: The company donates money to a variety of charitable
organizations, including the American Red Cross, the United Way, and
Feeding America.
• Walmart: The company donates food and other goods to food banks and
other organizations that help the needy.
• Google: The company matches employee donations to charitable
organizations and also provides grants to nonprofits.
Philanthropy:
• Microsoft: The company has funded research into a variety of diseases,
including cancer and Alzheimer's disease.
• Amazon: The company has started a program to help educate children in
India.
• Nike: The company has advocated for policy change to protect the
environment.
Charity and philanthropy are both important forms of giving, but they have
different goals and approaches. Charity is typically focused on meeting the
immediate needs of those in need, while philanthropy is typically focused on
addressing the root causes of social problems.
Here is a table that summarizes the key differences between charity and
philanthropy:
Charity Philanthropy
Focused on meeting the immediate Focused on addressing the root causes of
needs of those in need social problems
Typically involves donating money, Typically involves funding research,
goods, or time to a charitable starting new programs, or advocating for
organization policy change
Can be a short-term or long-term Can be a short-term or long-term
commitment commitment
Can be done by individuals or Can be done by individuals or
organizations organizations
Both charity and philanthropy can play a role in making the world a better place.
However, it is important to understand the differences between the two so that
you can choose the right approach for your giving.

OR
 b) Demonstrate how managing the downside and upside would help an
organization to reduce its socio environmental costs and risks.

Q4) Solve (a) or (b) : [10]

a) Categorize the 17 Sustainable Development Goals on the basis of 3Ps of
Triple Bottom line and explain with several examples.

here are some ways that managing the downside and upside can help an
organization to reduce its socio-environmental costs and risks:
• Identifying and mitigating risks: By identifying and mitigating risks,
organizations can reduce the likelihood of negative socio-environmental
impacts. For example, an organization might identify a risk of pollution
from its operations, and then take steps to mitigate that risk by installing
pollution control equipment.
• Minimizing negative impacts: Even if risks cannot be entirely eliminated,
organizations can minimize the negative impacts of their activities by
taking steps to reduce their environmental impact and to improve their
social performance. For example, an organization might reduce its
environmental impact by using recycled materials or by reducing its energy
consumption.
• Maximizing positive impacts: Organizations can also maximize the
positive impacts of their activities by investing in sustainable development
initiatives. For example, an organization might invest in renewable energy
projects or in programs to improve education and healthcare in the
communities where it operates.
By managing the downside and upside, organizations can reduce their socio-
environmental costs and risks and improve their overall sustainability
performance. This can lead to a number of benefits, including:
• Reduced financial risks: By reducing the likelihood of negative socio-
environmental impacts, organizations can reduce the risk of financial
losses. For example, an organization that pollutes the environment may be
fined or sued, which could lead to financial losses.
• Improved reputation: By improving their social and environmental
performance, organizations can improve their reputation with stakeholders.
This can lead to increased customer loyalty, improved employee morale,
and easier access to capital.
• Increased opportunities: By investing in sustainable development
initiatives, organizations can create new opportunities for growth and
innovation. For example, an organization that invests in renewable energy
may be able to capture new markets and generate new revenue streams.
Overall, managing the downside and upside can help organizations to reduce their
socio-environmental costs and risks, improve their reputation, and create new
opportunities. This can lead to a number of benefits for the organization, its
stakeholders, and the environment.
Here are some specific examples of how organizations have managed the
downside and upside to reduce their socio-environmental costs and risks:
• Walmart: Walmart has a number of sustainability initiatives in place,
including reducing its energy consumption, improving its waste
management practices, and sourcing products from sustainable suppliers.
These initiatives have helped Walmart to reduce its environmental impact
and to improve its social performance.
• Nike: Nike has a program called "Better World" that is focused on
improving the lives of workers in its supply chain. The program includes
initiatives to improve working conditions, provide education and training,
and protect the environment.
• Google: Google has a number of sustainability initiatives in place,
including using renewable energy, reducing its water consumption, and
offsetting its emissions. These initiatives have helped Google to reduce its
environmental impact and to become a more sustainable company.
These are just a few examples of how organizations have managed the downside
and upside to reduce their socio-environmental costs and risks. There are many
other organizations that are taking steps to improve their sustainability
performance. As more and more organizations focus on sustainability, it is likely
that we will see even more innovation and progress in this area.

OR
b) Analyze the Gandhian Thought on Sustainable development and narrate
its importance and relevance in the contemporary business scenario with
appropriate examples.

here is an analysis of the Gandhian thought on sustainable development and its

importance and relevance in the contemporary business scenario:
Mahatma Gandhi was a great thinker and leader who was deeply concerned about
the environment and the well-being of future generations. He believed that
sustainable development was essential for the future of the planet and that it
could be achieved through a combination of economic growth, social justice, and
environmental protection.
Gandhi's views on sustainable development are based on the principles of
swadeshi, sarvodaya, and aparigraha. Swadeshi is the principle of self-reliance,
which Gandhi believed was essential for economic development and
environmental protection. Sarvodaya is the principle of social justice, which
Gandhi believed was essential for ensuring that the benefits of development were
shared by all. Aparigraha is the principle of non-possession, which Gandhi
believed was essential for living in harmony with nature.
Gandhi's views on sustainable development are still relevant today. In the
contemporary business scenario, there is a growing awareness of the need for
sustainable development. Businesses are increasingly being held accountable for
their environmental and social impacts. Gandhi's principles can provide guidance
for businesses that are committed to sustainable development.
Here are some examples of how Gandhi's principles can be applied to the
contemporary business scenario:
• Swadeshi: Businesses can promote swadeshi by sourcing their materials
and products from local suppliers. This can help to reduce the
environmental impact of transportation and to support local economies.
• Sarvodaya: Businesses can promote sarvodaya by ensuring that their
employees are treated fairly and that they have access to education and
healthcare. This can help to create a more just and equitable society.
• Aparigraha: Businesses can promote aparigraha by reducing their
consumption of resources and by minimizing their waste. This can help to
protect the environment and to conserve natural resources.
Gandhi's views on sustainable development are a valuable contribution to the
field of business ethics. They can provide guidance for businesses that are
committed to operating in a sustainable way.
Here are some additional thoughts on the importance and relevance of Gandhian
thought on sustainable development in the contemporary business scenario:
• Gandhian thought provides a holistic approach to sustainable development.
It recognizes that economic growth, social justice, and environmental
protection are all interconnected. This is in contrast to the more narrow
focus of many traditional approaches to sustainable development.
• Gandhian thought is based on the principles of simplicity, non-violence,
and compassion. These principles are increasingly relevant in the context
of the 21st century, as we face the challenges of climate change, poverty,
and inequality.
• Gandhian thought is rooted in the Indian tradition of ahimsa, or non-
violence. This tradition emphasizes the importance of living in harmony
with nature and with other people. It is a powerful antidote to the
consumerism and environmental destruction that are so prevalent in the
modern world.
In conclusion, Gandhian thought on sustainable development is a valuable
resource for businesses and individuals who are committed to creating a more just
and sustainable world.

Q5) Solve (a) or (b) : [10]

a) Appraise Indian Values and Ethics from the point of view of various
CSR activities that can be undertaken by corporate houses.
here are some Indian values and ethics that can be appraised from the point of
view of various CSR activities that can be undertaken by corporate houses:
• Dharma: Dharma is a complex concept that can be translated as
"righteousness" or "duty." It is a central concept in Indian philosophy and
ethics. In the context of CSR, dharma can be seen as the responsibility of
businesses to act in a way that is beneficial to society as a whole.
 • Ahimsa: Ahimsa is the principle of non-violence. It is a central concept in
Jainism and Hinduism, and it is also found in other Indian religions and
philosophies. In the context of CSR, ahimsa can be seen as the
responsibility of businesses to avoid causing harm to others, both human
and non-human.
• Sarvodaya: Sarvodaya is the principle of "the welfare of all." It is a central
concept in Gandhian thought, and it is also found in other Indian
philosophies. In the context of CSR, sarvodaya can be seen as the
responsibility of businesses to work towards the betterment of society as a
whole.
• Vasudhaiva Kutumbakam: Vasudhaiva Kutumbakam is a Sanskrit phrase
that means "the world is one family." It is a central concept in Hinduism,
and it is also found in other Indian religions and philosophies. In the
context of CSR, vasudhaiva kutumbakam can be seen as the responsibility
of businesses to act with a global perspective and to consider the impact of
their activities on people and the environment around the world.
These are just a few of the Indian values and ethics that can be appraised from the
point of view of various CSR activities that can be undertaken by corporate
houses. By incorporating these values and ethics into their CSR activities,
businesses can make a positive contribution to society and help to create a more
just and sustainable world.
Here are some specific examples of CSR activities that can be undertaken by
corporate houses in accordance with Indian values and ethics:
• Providing education and healthcare to the poor: This is a classic example of
a CSR activity that is in line with Indian values and ethics. It is a way of
helping those who are less fortunate and of promoting the welfare of
society as a whole.
• Protecting the environment: This is another important CSR activity that is
in line with Indian values and ethics. It is a way of ensuring that future
generations inherit a healthy planet.
• Supporting sustainable development: This is a broad CSR activity that can
involve a variety of different initiatives. It is a way of working towards a
more just and sustainable future for all.
These are just a few examples of the many CSR activities that can be undertaken
by corporate houses in accordance with Indian values and ethics. By undertaking
these activities, businesses can make a positive contribution to society and help to
create a more just and sustainable world.

OR
b) Evaluate Measures taken by Sweden and Denmark in achieving the UN
Sustainable development goals.

here are some of the measures taken by Sweden and Denmark in achieving the UN
Sustainable Development Goals (SDGs):
Sweden
• SDG 1: End poverty in all its forms everywhere. Sweden has a long history of
commitment to social justice and poverty reduction. The country has a
comprehensive social welfare system that provides a safety net for its citizens.
Sweden also has a strong focus on education and healthcare, which are
essential for reducing poverty.
• SDG 2: End hunger, achieve food security and improved nutrition and promote
sustainable agriculture. Sweden is a leader in sustainable agriculture. The
country has a strong focus on organic farming and on reducing the use of
pesticides and fertilizers. Sweden is also a major exporter of agricultural
products, and it is committed to ensuring that these products are produced in a
sustainable way.
• SDG 3: Ensure healthy lives and promote well-being for all at all ages. Sweden
has a world-renowned healthcare system that provides universal coverage to its
citizens. The country also has a strong focus on preventive healthcare, and it is
working to reduce the prevalence of chronic diseases.
• SDG 11: Make cities inclusive, safe, resilient and sustainable. Sweden is a
leader in sustainable urban development. The country has a strong focus on
reducing greenhouse gas emissions, improving energy efficiency, and
promoting public transportation. Sweden is also working to make its cities
more livable for everyone, including people with disabilities and the elderly.
Denmark
• SDG 7: Ensure access to affordable, reliable, sustainable and modern energy
for all. Denmark is a world leader in renewable energy. The country gets over
40% of its electricity from wind power, and it is working to increase this
number to 50% by 2030. Denmark is also a leader in energy efficiency, and it
is working to reduce its overall energy consumption.
• SDG 13: Take urgent action to combat climate change and its impacts.
Denmark is a committed to climate action. The country has set a target of
reducing its greenhouse gas emissions by 70% by 2030. Denmark is also
working to adapt to the impacts of climate change, such as sea level rise and
more extreme weather events.
• SDG 14: Conserve and sustainably use the oceans, seas and marine resources
for sustainable development. Denmark is a maritime nation with a long history
of fishing and shipping. The country is committed to sustainable use of the
oceans, and it is working to reduce marine pollution and to protect marine
habitats. Denmark is also a leader in offshore wind power, and it is working to
develop new ways to harness the power of the ocean.
These are just a few of the measures taken by Sweden and Denmark in achieving the
UN Sustainable Development Goals. Both countries are committed to sustainable
development, and they are taking concrete steps to make progress towards the SDGs.
In addition to the measures mentioned above, both Sweden and Denmark have also
taken steps to promote gender equality, reduce inequality, and promote peace and
justice. These are all important aspects of sustainable development, and both
countries are working to make progress in these areas.

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