The Ministry of Corporate Affairs (MCA) issued the National Voluntary Guidelines on Social, Environmental & Economic Responsibilities of Business (NVGs) in July 2011 with a view to provide a clear, broad-based framework for carrying out responsible business and be accountable to all its stakeholders. The NVGs were developed based on India’s socio-cultural context and priorities as well as global best practices and finalised after extensive consultations with business, academia, civil society organisations and the government. The Security and Exchanges Board of India (SEBI) has mandated that the top 500 companies furnish Business Responsibility Reports (BRRs) on the uptake of NVGs as part of the listing agreement.

In view of passage of considerable time since their launch and various new developments such as enactment of Companies Act, 2013, change in global business environment having taken place, the process for updating NVGs was initiated with a two member Expert Committee by the Indian Institute of Corporate Affairs under the aegis of MCA. The updated NVGs, have been renamed as the National Guidelines (NGs) and are presented here for public comment.

In view of passage of considerable time since their launch and various new developments such as enactment of Companies Act, 2013, change in global business environment having taken place, the process for updating NVGs was initiated with a two member Expert Committee by the Indian Institute of Corporate Affairs under the aegis of MCA. The updated NVGs, have been renamed as the National Guidelines (NGs) and are presented here for public comment.

Guidelines for comments

Responses may be sent to [email protected]

The NGs consists of 5 Chapters and 4 Annexures. While public comment on the whole document is welcome, respondents are requested to specifically provide inputs on Chapters 2 (Principles and Core Elements) and 5 (Business Responsibility Reporting Framework).

All respondents are requested to use only the attached NG Response form for furnishing their comments and feedback in any other format shall not be considered.

The draft NGs will be available for public comment till August 10, 2018 only.

All comments received till this date will be analysed by a Review Committee for updating NVGs before finalization of the National Guidelines.

Draft National Guidelines on Social, Environment & Economic Responsibility of Business, 2018

Business responsibility guidelines updated to NGs; public consultation open to inform reporting and principles framework. The Ministry of Corporate Affairs has issued draft National Guidelines (NGs), updating the 2011 National Voluntary Guidelines in light of the Companies Act, 2013 and global changes, and invited public comments until August 10, 2018. The draft, prepared with an Expert Committee and the Indian Institute of Corporate Affairs, contains five chapters and four annexures and requests focused input on Chapter 2 (Principles and Core Elements) and Chapter 5 (Business Responsibility Reporting Framework). Respondents must use the provided response form and submit comments by the deadline for Review Committee consideration.