- Business Responsibility Guidelines for the Foundry Sector
- Meeting with AZLUS and FMC to finalise Guidelines
September 19, 2015, Ajmer, India
About the Project
CUTS Centre for Competition, Investment & Economic Regulation (CUTS CCIER) with support from Foundation of MSME Clusters (FMC) is developing sector specific Business Responsibility Guidelines for the coke based cupola foundries operating under the Ajmer Zila Laghu Udyog Sangh (AZLUS) at District Ajmer, Rajasthan.
Foundry units are faced with various critical social, environmental and governance issues which traditionally often went unnoticed. The primary focus was on financial gains and these secondary, often intangible aspects were ignored. However, it has been found that supported by foundry associations, the business are increasingly beginning to realize the impact of their actions on society as well as the environment and the importance of meeting the needs of the present generation without compromising the ability of the next. Businesses need to focus their attention on achieving the ‘triple bottom line’- people, planet and profit. Thus, the financial performance needs to be balanced with the expectations of the society and the environment.
The National Voluntary Guidelines on Social, Environmental and Economic Responsibilities of Business (NVGs) designed by Ministry of Corporate Affairs, Government of India provides a guidance document for developing guidelines for the foundry sector. Though, the NVGs are designed for use by all businesses and sectors and therefore touch on the fundamental aspects – the ‘spirit’– of an enterprise, the issues vary from sector to sector and thus, the application of NVG would also need to be localised.
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