MCA invites public comments on Draft National Guidelines on Social, Environmental & Economic Responsibilities of Business 2018

MCA invites public comments on Draft National Guidelines on Social, Environmental & Economic Responsibilities of Business 2018 :The Ministry of Corporate Affairs (MCA) issued the National Voluntary Guidelines on Social, Environmental & Economic Responsibilities of Business (NVGs) in July 2011 with a view to provide a clear, broad-based framework for carrying out responsible business and be accountable to all its stakeholders. The NVGs were developed based on Indias socio-cultural context and priorities as well as global best practices and finalised after extensive consultations with business, academia, civil society organisations and the government. The Security and Exchanges Board of India (SEBI) has mandated that the top 500 companies furnish Business Responsibility Reports (BRRs) on the uptake of NVGs as part of the listing agreement. In view of passage of considerable time since their launch and various new developments such as enactment of Companies Act, 2013, change in global business environment having taken place, the process for updating NVGs was initiated with a two member Expert Committee by the Indian Institute of Corporate Affairs under the aegis of MCA. Theupdated NVGs, have been renamed as theNational Guidelines (NGs)and are presented here forpublic comment. In view of passage of considerable time since their launch and various new developments such as enactment of Companies Act, 2013, change in global business environment having taken place, the process for updating NVGs was initiated with a two member Expert Committee by the Indian Institute of Corporate Affairs under the aegis of MCA. Theupdated NVGs, have been renamed as theNational Guidelines (NGs)and are presented here forpublic comment.

MCA invites public comments on Draft National Guidelines on Social, Environmental & Economic Responsibilities of Business 2018

Guidelines for comments

Responses may be sent to[email protected]

The NGs consists of 5 Chapters and 4 Annexures. While public comment on the whole document is welcome, respondents are requested to specificallyprovide inputs on Chapters 2 (Principles and Core Elements) and 5 (Business Responsibility Reporting Framework). All respondents are requested to useonlythe attached NG Response form for furnishing their comments and feedback in any other format shall not be considered. The draft NGs will be available for public commenttill August 10, 2018only. All comments received till this date will be analysed by a Review Committee for updating NVGs before finalization of the National Guidelines. MCA releases Draft National Guidelines on Social, Environment & Economic Responsibility Click here to download the Response Form for Public Comments Click Here to Buy CA Final Pendrive Classes at Discounted Rate