CORPORATE SOCIAL RESPONSIBILITY UNDER THECOMPANIES ACT, 2013: A LEGAL STUDY ONSUSTAINABLE BUSINESS PRACTICES

Abstract

Corporate Social Responsibility (CSR) has become a transformative influence in the twenty-first century, reshaping traditional business models and the role of firms within society. Businesses must transcend mere profit generation; they should also adopt sustainable, ethical, and socially responsible activities in response to escalating global challenges such as resource scarcity, social injustice, and climate change. This study analyzes how firms that integrate ESG issues into their fundamental strategy not only mitigate risks but also generate long-term value for stakeholders. It accomplishes this by examining CSR as a catalyst for sustainable business practices. The study highlights that corporate social responsibility (CSR), aligning company practices with global sustainability objectives like the UN Sustainable Development Goals (SDGs), has supplanted voluntary philanthropy. The research illustrates the impact of CSR on a company's reputation, customer loyalty, employee engagement, and investor confidence through an analysis of case studies across diverse industries. The escalating demands of stakeholders for accountability, transparency, and purpose-oriented leadership are likewise acknowledged. The essay posits that corporate social responsibility (CSR) serves as a catalyst for innovation and a source of competitive advantage in contemporary business, rather than merely fulfilling regulatory obligations. To promote equitable and sustainable growth, it underscores the importance of a multistakeholder approach that includes corporate commitment, civil society engagement, and governmental rules. Corporate Social Responsibility is a strategic imperative in the twentyfirst century that ensures organizations remain pertinent, robust, and accountable in a swiftly changing landscape.