MCA Releases National Guidelines on Responsible Business Conduct
The Ministry of Corporate Affairs has formulated the National Guidelines on Responsible Business Conduct (NGRBC) by revising the National Voluntary Guidelines on Social, Environmental and Economic Responsibilities of Business, 2011 (NVGs).
National Guidelines on Responsible Business Conduct
National Guidelines on Responsible Business Conduct (NGRBC) urge businesses to actualise the principles in letter and spirit. The principles under NGRBC are:
- Businesses should conduct and govern themselves with integrity in a manner that is Ethical, Transparent and Accountable.
- Businesses should provide goods and services in a manner that is sustainable and safe
- Businesses should respect and promote the well-being of all employees, including those in their value chains.
- Businesses should respect the interests of and be responsive to all their stakeholders.
- Businesses should respect and promote human rights.
- Businesses should respect and make efforts to protect and restore the environment.
- Businesses, when engaging in influencing public and regulatory policy, should do so in a manner that is responsible and transparent.
- Businesses should promote inclusive growth and equitable development.
- Businesses should engage with and provide value to their consumers in a responsible manner.
The National Guidelines on Responsible Business Conduct principles were formulated after wide consultations based on India’s socio-cultural context and priorities as well as global best practices.
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Month: Current Affairs - March, 2019