Understanding Sustainable Practices within Global Compact and CSR Policy Framework: Through the Lens of Indian Corporations

Abstract

United Nations Global Compact (UNGC) is one of the initiatives by the United Nations for developing and communicating Corporate Social Responsibility (CSR). However, until now very few studies have been conducted evaluating the Global Compact (GC) perception of companies and their CSR strategies. This article, by case study method using three fortune 500 Indian companies, aims to understand how UNGC is used by Indian companies in practice and the role GC has played in influencing their CSR strategies. This article also recommends that the companies' CSR policies require a multi-dimensional strategy while operating within the paradigm of the UNGC. The major reflection from the study is that the GC principles are seen only as the compliance norms and do not provide enough momentum for the companies to perform better in the enlisted areas of practice.