Contribution of CSR for the Attainment of Sustainable Goals: A Study of a Developing Nation

The business entities today are built on the edifice of three pillars called the triple bottom line, namely, people, profit, and the planet. Aligning the CSR activities of any company to the UNO’s 17 Sustainable Development Goals (UNSDGs) is the hallmark of an important juncture in today’s dynamic environment. Corporate social responsibility (CSR) refers to the responsibility of companies to consider the social, environmental, and economic impact of their business activities and to take action to address them. Sustainability, on the other hand, is about meeting the needs of the present without compromising the ability of future generations to meet their own needs. By integrating CSR into their business strategies, companies can contribute to the achievement of the UNSDGs and create long-term value for their stakeholders, including investors, employees, customers, and communities. Companies that embrace CSR are better positioned to manage risks, enhance their reputation, and seize opportunities in a rapidly changing business landscape. Though the business entities cannot focus on all the 17 SDGs proposed by the UN, they can have an impact on SDGs 3, 4, 6, 9, 13, 14, and 15. This includes the purview of providing education, a better work environment, a cleaner atmosphere, and portable drinking water. This chapter has been prepared based on the data of 30 top companies in the Indian subcontinent, which dwell in their CSR activities. The CSRP index has been utilized to study the impact of the variables using an SEM construct. The results indicate that even in a developing nation like India, many of the companies contribute more than the statutory requirements voluntarily, to attain the SDGs.