Essar Oil MD & CEO chairs panel discussion on CSR trends in India and the EU
Mumbai, September 26, 2014: Mr. LK Gupta, Managing Director & CEO, Essar Oil (EOL) moderated a panel discussion on "Paradigm shift in Corporate Social Responsibility : India- European Experiences & Learning", held in Mumbai on September 26, 2014. The event was organised by Essar Foundation in association with Global Compact networks India (GCNI), under the aegis of GCNI’s ‘Cross over series’ initiative.
GCNI is the Indian arm of the United Nations Global Compact initiative that aims at strengthening responsible business initiatives in the economic ecosystem. GCNI's 'Cross over Series' is a platform for Indian companies, academic institutions and civil society to exchange of innovative ideas and experiences in CSR, share knowledge, advocate policies and achieve "glocal" alliances.
The panel discussion, was the highlight of the event, and included perspectives from top CSR representatives from GTL ltd, Tata Power, Capegemini, Yes Bank and the NGO, Akanksha.
Mr. Gupta set the proceeding in the motion by providing his insights on the criticality of CSR in current milieu. He underlined that the progress should reach to the last person in the country, emphasizing that while making money per se is not a demerit, but it is high time that the money earned should be used for the welfare of the communities around the businesses. With the expenditure on CSR getting legislated in Companies Act, 2013, the companies cannot use CSR merely as an advertising opportunity but need to make real difference by investing time, skills and funds in a creative manner to find solutions to social issues. He said that the sustainability is a big focus among the investors, especially, the global investors. He added that EU has a strong social fabric and India can learn a lot from EU.