CHENNAI:Indian Institute of Corporate Affairs, The Institute of Cost Accountants of India and CSO Partners are organising two day workshop on National Voluntary Guidelines on Social, Environmental & Economic Responsibilities of Business (NVGs). The workshop will be held on January 4- 5th 2012 at Comfort Inn, Marina Towers, Egmore, Chennai, Asish Bhattacharyya, Head, School of Corporate Governance and Public Policy, Indian Institute of Corporate Affairs informed INDIACSR today.
“Against this backdrop the workshop is being hosted to help businesses understand the principles and elements in the NVGs. It also seeks to provide clarity on the issues in implementation of NVGs. The programme will have senior professionals from business, NGOs and academia.”, Asish Bhattacharyya added.
In July 2011, the Ministry of Corporate Affairs (MCA) had issued National Voluntary Guidelines on Social, Environmental & Economic Responsibilities of Business (NVGs). These guidelines contain a comprehensive set of nine principles to be adopted by companies as part of their business practices. It urges businesses to embrace the “triple bottom-line” approach whereby its financial performance can be harmonized with the expectations of the society, the environment and the people it interfaces with, in a sustainable manner.
In August 2012, SEBI has mandated the top 100 listed entities to include Annual Business Responsibility Report (ABRR) in their annual report in order to assess fulfillment of the environmental, social and governance responsibilities. The norms have been issued in line with the NVGs. At present ABRR is voluntary for other listed companies. It is likely that ABRR will become mandatory for other companies in future.
Adoption of NVGs is thus increasingly becoming a business necessity. To register, visit the event site www.csopartners.org.in/events/nvgworkshop.