Business Responses Towards Corporate Social Responsibility and Sustainable Development Goals During Covid-19 Pandemic

Abstract

Objective: In India, incorporating structural transformation in corporate social responsibility for achieving sustainable development goals in the Covid-19 Pandemic has become a priority. Therefore, the present article aims to review the corporate social responsibility activities conducted by Nine Indian companies (two public sector organizations and seven private sector organizations) towards attaining Sustainable Development Goals in times of global pandemic. To explore CSR activities performed by the Indian companies (both public and private) in recent times of crisis of covid-19. To assess the impact of Covid-19 on the economic, social, and technological environment of Indian Companies in recent times.   Method: For our research, we chose India since it was one of the earliest and worst-hit countries during the recent pandemic. Even though huge Asian corporations are a minority, It is a good fit for our study goal for various reasons. Less and medium-sized businesses, on the other hand, have a far smaller influence on society, Due to their prominence in the press, clients or consumers are more likely to provide feedback if they are proactive. As a second point, major companies have greater resources (e.g., human and financial) to spend on reporting and distributing social and environmental information. The existing study applied bibliometric analysis in the exploratory research. The data collection done through secondary sources in which articles extracted with the use of PRISMA flowchart.   Result: The study's findings state that most selected Indian Companies spend Rupees 50-1000 crores as corporate social responsibility activities and contribute to the Pradhan Mantri Relief Fund as a business response to face challenges in times of pandemic. Moreover, private companies spend more on CSR activities than public companies in India. The study provides suggestions to the government to make the corporate social responsibility activities compulsory for all the profitable companies so that country can maintain a corporate pool of contingent funds that can utilize to meet such times of critical circumstances.   Conclusion: Companies are taking steps to ensure the safety and protection of their personnel. This has been reflected in corporate social responsibility initiatives as well. Corporate social responsibility efforts must include pushing for and facilitating access to health insurance programmes and other equity indicators as a result.