ANNOUNCEMENTS
This study critically analyzes how Corporate Social Responsibility (CSR) funds can catalyze environmental and social sustainability within India's developing carbon credit market. Given the mandatory CSR spending under the 2013 Companies Act and India's urgent climate commitments (NDCs and net-zero goals), this research investigates strategic alignment between CSR and verified carbon mitigation projects.
A comprehensive policy review of 21 national frameworks—covering CSR regulations, energy efficiency programs, ESG reporting, and carbon market drafts—reveals both supportive measures and significant shortcomings. Many CSR-eligible activities (afforestation, renewable energy, waste-to-energy) overlap with carbon credit generation, yet hurdles remain, including insufficient legal recognition, inconsistent Measurement, Reporting, and Verification (MRV) systems, and regulatory fragmentation amongst the Ministry of Corporate Affairs (MCA), Ministry of Environment, Forest and Climate Change (MoEFCC), and Securities and Exchange Board of India (SEBI).
The research highlights integration opportunities through initiatives like the 2023 Green Credit Programme, the Carbon Credit Trading Scheme (CCTS), and Business Responsibility and Sustainability Reporting (BRSR) disclosures. It suggests practical steps to overcome policy inconsistencies and synergize mandatory CSR spending with quantifiable climate action. By linking CSR to India's domestic carbon market, the study contends that corporate accountability and national climate ambitions can be significantly strengthened.
This research phase utilizes a qualitative, secondary data analysis approach, systematically examining legal, regulatory, and reporting mechanisms to assess feasibility, relevance, and integration potential. The findings aim to guide policymakers, regulators, and corporate sustainability leaders in using CSR strategically to achieve environmental and social impact within a structured carbon market.
Key Words: Corporate Social Responsibility (CSR), Carbon Credit Market, Environmental Sustainability, Green Credit Programme, Business Responsibility and Sustainability Report (BRSR), Policy Integration, Climate Finance, Energy Efficiency, Additionality and MRV, India.
