The Impact of Government Initiatives on Sustainable Business Practices

Joice Ann Mathew and Susnato Maji
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Joice Ann Mathew: Christ University
Susnato Maji: Christ University

A chapter in The Synergistic Effect of Sustainable Business Practices on Corporate Performance, 2025, pp 127-139 from Springer

Abstract: Abstract This paper examines the evolving role of government initiatives in fostering sustainable business practices, with a focus on Corporate Social Responsibility (CSR) as a critical tool for aligning economic growth, social equity, and environmental sustainability. By analyzing the historical evolution of CSR and its current framework in India, including its mandatory implementation under the Companies Act, 2013, this study highlights the multidimensional aspects of CSR: environmental, ethical, philanthropic, and economic responsibilities. It also explores the strategic integration of CSR to meet stakeholder expectations, enhance competitiveness, and mitigate risks, illustrating its potential as a driver for sustainable development. The research further addresses mechanisms for legal compliance, inspection, and enforcement, offering insights into the challenges and opportunities for businesses in adhering to CSR norms while contributing to broader societal goals.

Keywords: Sustainable business practices; Corporate Social Responsibility (CSR); Government initiatives; Economic growth (search for similar items in EconPapers)
Date: 2025
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-981-96-3375-3_8

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DOI: 10.1007/978-981-96-3375-3_8

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