THE ROLE OF CORPORATE LAW IN SHAPING CORPORATE SOCIAL RESPONSIBILITY NORMS

Author – Aadit Saharya, Student at Symbiosis Law School, Nagpur

Best Citation – Aadit Saharya, THE ROLE OF CORPORATE LAW IN SHAPING CORPORATE SOCIAL RESPONSIBILITY NORMS, ILE Competition and Company Law Journal, 1 (1) of 2023, Pg. 62-61, ISBN – 978-81-961120-6-6.

Abstract:

Corporate Social Responsibility (CSR) is a rapidly evolving concept in the business world that has gained significant traction in recent years. As businesses continue to grow and expand, there is an increasing recognition of the need to balance economic development with social and environmental responsibilities. CSR, therefore, has emerged as a powerful mechanism through which businesses can contribute to sustainable development and create a positive impact on society. This research paper explores the concept of Corporate Social Responsibility (CSR) and its evolution over time, as well as the role of corporate law in shaping CSR norms. The legal framework for CSR varies across different countries and includes regulations, reporting requirements, and other legal obligations. The paper focuses on the Indian legal framework for CSR, including the Companies Act, 2013. The paper also highlights the challenges associated with the Indian legal framework for CSR, including the lack of clarity and uniformity in the definition and scope of CSR and the lack of a standardized reporting framework for CSR activities.

Keywords: Corporate Social Responsibility, business, transparency, accountability, corporate, etc.