Corporate Social Responsibility and Environment Protection

Abstract

There is a close relationship between man and nature. Existence of one without another is impossible. Therefore, it is necessary that a harmonious balance is maintained between them. Over the years, due to excessive industrialization this balance has been disturbed. Today world is facing the issue of environmental degradation and India is no exception to this. In this era of Globalization and Privatization, a number of private players have entered the field which has further deteriorated the environment as they work on the principle of profit making without having any regard to the environmental concerns of the country. As we are a developing nation, therefore, the challenges are more serious as there is need to strike a balance between economic development and environment protection. The right to safe and hygienic environment has been interpreted by the Supreme Court in the provisions of Article 21 of Constitution of India. In various cases it directed the pollution causing industries to either stop production or ensure safe disposal of waste material so that the surroundings are not polluted. Today, the concept of Corporate Social Responsibility in the environmental protection is gaining importance because of the fact that corporate industries affect the environment adversely and, therefore, they must take some steps to restore back what they have taken from it. The idea of Corporate Social Responsibility is not new. Earlier, it was practiced as a charity but, now, after passing of The Companies Act, 2013, it has become mandatory for big corporate entities to spend 2% of their average net profit for the immediately preceding three financial years on Corporate Social Responsibility activities. Among others, ensuring environmental sustainability and ecological balance is one of such activity which requires immediate attention. The paper analyses the environmental concerns of the country, judicial response to the rising environmental degradation and fixing responsibility of the pollution causing corporate industries, the concept of Corporate Social Responsibility, how it can be utilized for the protection of environment and how much success it has achieved.