Question

Strong sustainability and/or corporate social responsibility outcomes rely on more effective regulation. Do you agree? Discuss, using examples to support your argument. (500 words)

Answer 1

Answer: Strong sustainability and its application in social sphere needs effective policy and proper implementation.

Sustainability in shpere of life provides resources a new life and save it from unnecessary exploitation. Economics of sustainable business practices have its own profits for society hence a strong Corporate social responsibility  program is an essential element in achieving good business practices and effective leadership.

Formation of various sustainable goals as has been decided in SDG 2030 goals from goal no 1 to 17 related to elimination of poverty, hunger, achieving good standards of living and better education, removing gender differences in society to work front, building resilient infrastructure and energy efficient practices, giving boost to renewable sources of energy to reducing exploitation of natural resource, creating a sustainable and pollution free environment etc.

These are all such goals which needs a strong political will , disruption in technological advancements which must he environment friendly, an effective leadership and a long term comprehensive approach towards economic development of society.

Hence this can be achieved by a sustainable and Strong CSR program which should be realistic in its approach.

But mere formation of policy will not do much as what is most important is its proper and effective implementation at theground level .Hence Accountability and its effective regulation by competent authority which should be independent and impartial in its finding are must.

For example take the Example of implementation of goals of Paris climate deal 2015 to prohibit the increase in temperature below 2 degrees.

Various countries and businesses have to adhere to such policies under CSR which aimed at improving environmental level, but due to improper effective regulations in place , ground level implementation is lacking.Overdependence on thermal and oil industry is still a reality.Various Programs under CSR like more investment in Renewable sources of energy like solar power under initiatives like solar alliance sewing less development due to improper regulations.

Hence what is more important than policy formation is its effective implementation at ground level and for that proper regulations are  must condition.

Hope it helps!