You just got big relief! This is what companies have to do now for the common man, employees, more
The central government has revised the guidelines for businesses to ensure they conduct fair and responsible operations. The Ministry of Corporate Affairs on Wednesday revised the National Voluntary Guidelines on Social, Environmental and Economic Responsibilities of Business, 2011 (NVGs) and formulated the National Guidelines on Responsible Business Conduct (NGRBC). The ministry is working in a direction to develop India’s National Action Plan on Business & Human Rights (NAP) under advisory from various Ministries and State Governments by 2020. A Zero Draft of India’s NAP demonstrating implementation of the three pillars of UNGPs has also been released and uploaded on the website of the Ministry. The guidelines, which are revised by the Ministry are:
-Conduct and govern companies with integrity
The businesses should conduct and govern themselves with integrity in a manner that is ethical, transparent and accountable. The corporate should provide goods and services in a manner that is sustainable and safe. (Pixabay)
-Respect and promote the well-being, human rights of all employees
The businesses should respect and promote the well-being of all employees, including those in their value chains and should respect and promote human rights. (Pixabay)
-Respect the interests of and be responsive to stakeholders, also be responsible and transparent.
The businesses should respect the interests of and be responsive to all their stakeholders. Also when businesses influence public and regulatory policy, they should do so in a responsible and transparent manner. (Pixabay)
-Promote inclusive growth and equitable development.
The businesses should promote inclusive growth and equitable development of their human workforce. (Pixabay)
-Engage with and provide value to their consumers.
Engagement with the customers and providing them the value is also mandatory for businesses. (Pixabay)