Corporate Social Responsibility should be sustainable: APJ Abdul Kalam

NEW DELHI: Former President A P J Abdul Kalam today said Corporate Social Responsibility ( CSR) activities should be sustainable and help in building capacity.

"CSR if it is implemented with sustainability as a focus, then it enhances business sustainability, provides new opportunities, develops customer loyalty and improves stakeholder relationship," Kalam said.

He was speaking at an CSR award function organised by industry body Assocham.

The former President said sustainability has assumed greater importance as it "directs towards conservation of the environment and building social infrastructure so that a part of the prosperity reaches the bottom of the pyramid and touches the lives of the citizens".

"It should become an integral part of corporate strategy, management practices, business operations and product development," he added.

The new Companies Bill proposes two per cent compulsory spending by corporates towards CSR activities.

Those firms which have a annual net profit of Rs 5 crore and above for the last three years are to comply with these CSR norms.