Corporate Social Responsibility Role in Biodiversity Conservation: Policy Action and Good Governance

Abstract

The industrialization process in due course of modernization and development has impacted the natural capital. Through strategic policy of corporate social responsibility, Corporate have aimed to address the natural capital loss and biodiversity loss. Subsequently, intervention in Biodiversity conservation was also incorporated in the policy developed by the government of India in 2013. The real challenge is the implementation of the policy in an effective and equitable manner. With the Sustainable Development Goals (SDG) in place, the goal of biodiversity conservation becomes even more critical. Application of Good Governance principles in CSR will make it more robust and strengthen the role of multiples stakeholders in the achievement of policy goals of biodiversity conservation. This paper looks into the policy performance of CSR, biodiversity conservation and other policies of natural capital conservation. This provides opportunities and challenges to Corporate to develop frameworks and collaborate with local communities in biodiversity conservation.