Direct Tax
Consulting
ESG Advisory
Indirect Tax
Growth Advisory
Internal Audit
BFSI Audit
Industry Audit
Valuation
RBI Services
SEBI Services
IRDA Registration
AML Advisory
IBC Services
NBFC Compliance
IRDA Compliance
Finance & Accounts
Payroll Compliance Services
HR Outsourcing
LPO
Fractional CFO
General Legal
Corporate Law
Debt Recovery
Select Your Location
In today’s world, responsible business conduct has become a critical aspect of corporate governance. Companies are expected to go beyond profit-making and contribute positively to society and the environment. To facilitate this shift, the Ministry of Corporate Affairs (MCA) in India has introduced the National Guidelines on Responsible Business Conduct (NGRBC). These guidelines serve as a framework for businesses to adopt ethical and sustainable practices, aligning their operations with the principles of social responsibility and sustainability.
The MCA NGRBC is a comprehensive set of guidelines that emphasize responsible business practices, including environmental, social, and governance (ESG) considerations. The guidelines are applicable to all companies registered in India that meet specific financial thresholds. The key aspects covered by the guidelines include:
The MCA NGRBC is a significant development in the landscape of responsible business conduct in India. It highlights the growing importance of ethical and sustainable practices for businesses. Here are some key reasons why companies should prioritize adopting the MCA NGRBC:
To implement the MCA NGRBC, companies can follow these steps:
The Ministry of Corporate Affairs (MCA) released the National Voluntary Guidelines on the Social, Environmental and Economic Responsibilities of Business (NVGs) in 2011 to provide guidance to businesses on responsible conduct. In 2015, the revision process began to align the NVGs with the Sustainable Development Goals (SDGs) and the UN Guiding Principles. The updated version, called the National Guidelines on Responsible Business Conduct (NGRBC), aims to assist businesses in performing beyond regulatory compliance.
The National Guidelines on Responsible Business Conduct (NGRBC) have been updated to reflect key national and international developments in sustainable development and business responsibility since their release in 2011. The primary rationale for the update is to capture the following key drivers:
The Ministry of Corporate Affairs (MCA) National Guidelines on Responsible Business Conduct (NGRBC) are an important framework for promoting ethical and sustainable practices among companies in India. By integrating responsible business conduct into their operations, companies can create long-term value, meet stakeholder expectations, and contribute to societal well-being. Adhering to the MCA NGRBC and other relevant guidelines, and reporting on CSR initiatives and sustainability practices, can help companies demonstrate their commitment to responsible business conduct and contribute to building a more sustainable and inclusive business environment.
The insurance industry is on the edge of a transformative era. As we enter 2024, technological...
The Indian Cybercrime Coordination Centre reported a rise in digital financial fraud, which has...
During its 203rd meeting on 25th November 2023, the Securities and Exchange Board of India (SEB...
If you want to expand your portfolio beyond standard stocks and bonds, Alternative Investment F...
NBFCs in India encounter significant challenges related to the compounded effects of outstandin...
Environmental, Social, and Governance (ESG) is a framework for measuring the sustainability and societal impact of...
20 Apr, 2023
For organizations, controlling supply chain risks is an essential part of managing Environmental, Social, and Gover...
01 Jun, 2024