Honourable Minister for Forests, Cultural Affairs, Fisheries, Government of Maharashtra, Sudhir Mungantiwar has suggested carving out a section for CER or Corporate Environmental Responsibility in the Companies Act 2013. Mungantiwar said this at an event in Mumbai on Thursday.
Corporate Environmental Responsibility
Addressing the gathering at the event, the honourable Minister said, “Along with CSR (Corporate Social Responsibility), we must consider carving out a section for CER or Corporate Environmental Responsibility in the Companies Act 2013. In our stride towards development, we often take from the environment but forget to give anything back in return.”
Focus on ESG
“During the Industrial Revolution those who setup industries were only concerned about their industry. Over years these owners started thinking about the customers. Subsequently their attention turned to workers whose hard work made these industries successful. Over the years we saw the evolution of corporate social responsibility and eventually now we are focusing on the environment as part of ESG (environmental, social, and governance),” the Minister further expressed.
Companies Act 2013
The Companies Act, 2013 is a law that regulates the governance of companies in India. The Companies Act, 2013 was introduced to provide an overall framework and a set of rules for companies in India. The Act is comprehensive and inclusive legislation covering all aspects of company operations. The Companies Act, 2013 has been enacted to promote the economic development and welfare of the country by making it easier for Indian companies to start and operate their businesses. The Act also aims at improving corporate governance in India.
This Act was amended multiple times, and in 2013, major changes were introduced. By Section 135 of the 2013 Act, India became the first country to make corporate social responsibility (CSR) spending mandatory by law.
Take on Carbon Neutrality
At a time when major Indian cities and towns like Mumbai, Delhi, Noida, Ghaziabad, Patna, Muzaffarpur, Kolkata, Hisar, Kurukshetra, Lucknow, Gangtok, Varanasi, Guwahati, Agra, Bengaluru, Hyderabad, Prayagraj, Rohtak, Nagpur and several others are struggling with the pressing issue of air pollution, the Maharashtra Minister of Forests reminded the responsibility of Indian citizens for our county to achieve Carbon Neutrality. Talking about this, he said at the event, “While India has committed to be #carbonneutral by 2070, the onus for it lies on every single one of us.”
At the 5th edition of The CSR Journal Excellence Awards held at National Stock Exchange in Mumbai earlier this year, Sudhir Mungantiwar was honoured with ‘The CSR Journal Award for Excellence in Future Leadership – 2022’ for his exceptional contribution to Nation Building.