CSR FOR SUSTAINABLE DEVELOPMENT AND PEACE.

Corporate Social Responsibility (CSR) is nothing but, providing or paying some compensation in the form of both cash and kind, to the Society for the damages caused by the installation of industries in the area nearby villages. As the result of globalizing trade, there are mushroom growths of industries in the sub-urban areas of metropolitan city like Chennai. The present study aims at to find out the extent of damage caused to human capital, natural capital, and finance capital of the people in the village where the industries are located. Major findings reveals that significant amount of damages caused and conflict created to the above capital and the conflict was resolved by providing employment, creating water facilities, Medical aid, Skill development training etc. However, it is appreciated that the efforts of companies taken through CSR stages for solving conflicts and trying to create sustainable development and peace in the villages where their industrial units are located. This research study titled ‘CSR strategies for conflict resolution through sustainable livelihood and peace’ analyses the projects undertaken by Corporate sectors on the basis of empirical evidences and put forth aspirations of the communities which reflect the felt need of the communities. The research study focuses on CSR and its strategies for improving the livelihood and harmony of the communities living around before the advent of the Corporates. CSR is a new program devised by the Companies in brief known as MNCS and also mega companies as compensation to the capitals damaged by the corporates namely Social capital, Financial Capital, Natural capital, physical capital and human capital to the communities.. Globalization is not a recent phenomenon but it is as old as human civilization. Since 1990s globalization has been triggered by four types of changes which accelerated the change. They are stretching social, political, and economic activities beyond national and continental frontiers, intensification, revolution in communication which made the time and space within no time, and local development affected by global impact. Intensification means the growing magnitude, of interconnectedness and flows of trade, investment, finance, migration, culture, etc. On the macro level, the liberalization of trade, investments and financial transactions made huge foreign direct investments. The General Agreement on Tariffs and Trade(GATT) lead for the liberalization of the world economy. This liberalization was accompanied by a policy of liberalization and privatization in the east and west world. State owned telecommunications, public transport, electricity, education, health sectors, out sourcing of labour in the industries and water were privatized. The downfall of Russia, the end of cold war led to another breakdown of trade barriers and encouraged intensified cross-border trade and investments. While the national frontiers and regional frontiers are going beyond global due to exchange of goods and services are possible and the growth of MNCS and corporate have come to occupy the only important and major determinant of the people living around by a study on the impact of the corporate to the vulnerable communities is more significant . This study will bring out the aspirations of the poor people whose livelihoods had a jerk from the past due to the arrival of the corporate. It has adopted the SLF and Galtungs analysis to measure the impact of the people’s livelihoods. It will enable the Corporate to devise mechanisms or in another words strategically planning programs which will address the problems of the communities and their responsibilities towards compensating for the damages they do. As according to the Ministry of Corporate affairs every company having net worth of Rs. 500 crore or more, or turnover of Rs. 1000 crore or more or a net profit of Rs. 5 crore or more during a year shall be required to formulate a CSR policy to ensure that every year at least 2% of its average net profits during the three immediately preceding financial years shall be spent on CSR activities. Since CSR has been made as a mandatory every company has to have a separate wing for CSR activities. This study would enable the corporate sectors to plan which direction they should move to bringing sustainable development among the vulnerable people and also in brining harmony among the communities.