Sustainable Development Goals (SDGs): Milking Corporate Social Responsibility (CSR) to Attain SDGs

Abstract

This paper makes an effort to understand how corporate social responsibility supports sustainable development goals. According to the National Determined Contribution, India needs 170 billion dollars per year to accomplish the sustainable development goals (SDGs) from 2015 to 2030. But there is a huge gap to meet this financial need. According to UNESCAP, Asia and the Pacific can achieve the SDGs by 2065 with the reported growth rate. To bridge that gap, spending on CSR can be a helpful option for governments. Corporate social responsibility (CSR) is the way that organisations have an obligation to society aside from their own interests. India is one of the few countries that has regulations on corporate social responsibility for businesses. The reform of social capital was introduced by Section 135 on corporate social responsibility under the Companies Act, 2013. Sustainable development goals emerged as universal goals in a way to incorporate a common shared global look for a safe and sustainable place for all the people and future species on this planet. The sustainable development goals deal with not only considerable changes in the wellbeing of human life, economic development, and environmental safeguards but also how these effects have been enforced. They are clearly defined with 169 targets that are determined to be achieved by 2030. To know the impact of any institution on SDGs, it is important to measure its contribution in context with sustainable development goals.