CSR practices and Sustainable Development Goals: Exploring the connections in Indian context

Abstract

AbstractThere was a growing realization that Millennium Development Goals (MDGs) are overarching, ambitious, complex, and less impactful. Consequently, the 193 member countries of the United Nations (UN) came out with Sustainable Development Goals (SDGs) as a well‐thought‐out global development agenda in the year 2015. By involving the private sectors in the designing of SDGs, UN has rightly identified their potentials in offering solutions to the most relevant sustainability challenges. SDGs came into force in January 2016 across the globe when corporate social responsibility (CSR) was already legalized in India. There has been a whooping investment of approximately Rs. 15,000 crores by nearly 20,000 companies every year under CSR in the country. However, it is argued that the contributions to SDGs are not substantial. Based on review of relevant literature, the current paper makes a modest attempt to explore the connections between CSR and SDGs in contemporary India. Further, it critically examines how CSR in India contributes to SDGs. The paper also analyses the underlying reasons for the inadequate engagement of CSR with SDGs. Despite CSR practices in India having linkage with the SDGs, the outcomes are not as per the expectation as a number of firms operate with less involvement and strategic efforts.