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Shankar 6 Cotton Fibers Pvt. Limited following CSR (Corporate Social Responsibility) & ESG (Environmental, Social and Governance) policy.

“Few people are capable of expressing with equanimity opinions which differ from the prejudices of their social enviroment. Most people are incapable of forming such opinions."

(Essay to Leo Baeck, 1953)” ― Albert Einstein

CSR is an approach that espouses the notion that a company can do good in the world and make a difference to improve social order. CSR reflects company culture and business practices. Social responsibility is a broad topic; it includes human aspects, such as having ethical labor practices both internally and as part of a larger supply chain.

CSR has also long been associated with the concepts of community engagement and philanthropy. In recent decades, CSR has become associated with sustainability and the environment as individuals, governments and nonprofit organizations increasingly blame corporations for not doing enough to help limit the risks of climate change and the corresponding environmental impacts. To that end, CSR is also often related to the concept of environmental, social and governance (ESG). There is, however, a difference between ESG and CSR. Where CSR is often seen as focusing on the big picture strategy, ESG has more detail on sustainability, environmental and ethical concerns from a measurable perspective.

Corporate social responsibility's potential business benefits

Being a good and responsible corporate citizen is a somewhat altruistic goal. CSR isn't solely about doing the "right things" that yield social benefits; it can also lead to positive business benefits, such as the following:

  • Lower costs. At the most basic level, it's about organizations and the people that own and manage them wanting to do good and help their communities and the larger world around them.
  • Risk management.Engaging in CSR practices enables companies to better handle environmental and social risks that arise -- and avoid future legal compliance-related issues.
  • Employee retention.CSR practices can aid businesses in attracting and retaining skilled employees who are dedicated to making a positive difference.
  • Customer loyalty.Being a good corporate citizen can also help increase brand and customer loyalty over time, as consumers tend to gravitate toward organizations that have CSR practices that align with their own views.
  • Addressable market gains. In different jurisdictions and markets around the world, there can be specific regulations for CSR initiatives. By having established policies, an organization can have a larger addressable market to go after.
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