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Business Responses to COVID-19 Through CSR: A Study of Selected Companies in India
CSR, Sustainability, Ethics and Governance ; : 317-338, 2023.
Article in English | Scopus | ID: covidwho-2260558
ABSTRACT
On the 30 January 2020, the World Health Organization (WHO) declared COVID-19 a public health emergency of international concern. Such a global health crisis has resulted in restructuring of resources in terms of both speed and scale of mobilisation. Corporate Social Responsibility (CSR) is playing a crucial role in the age of this pandemic COVID-19, where business is trying their best to cope with this tremendous challenging time. On 23 March 2020, the Indian government declared that all expenditures incurred on activities related to COVID-19 would be regarded to be CSR expenditure. Since the announcement of the PM CARES Fund and its inclusion in Schedule VII of the Companies Act, 2013, through a subsequent amendment, a huge amount of funding has also been directed from corporates to the PM CARES Fund. In this chapter we have studied the business responses to COVID-19 through the lens of CSR of the top 50 companies ranked on the basis of market capitalization for the years 2019–2020 to 2020–2021 by constructing a Corporate Health Disclosure Index (CHDI). Our study showed that business response towards health during COVID-19 was average. Businesses have mostly concentrated on short-term plans, primarily supporting healthcare infrastructure, assisting in vaccination programmes and contributing to the PM CARES Fund. © 2023, The Author(s), under exclusive license to Springer Nature Switzerland AG.

Full text: Available Collection: Databases of international organizations Database: Scopus Language: English Journal: CSR, Sustainability, Ethics and Governance Year: 2023 Document Type: Article

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Full text: Available Collection: Databases of international organizations Database: Scopus Language: English Journal: CSR, Sustainability, Ethics and Governance Year: 2023 Document Type: Article