Role of Corporate Social Responsibility in Ensuring Availability and Sustainable Management of Water and Sanitation

Abstract

Despite the fact that safe and drinkable water is a basic necessity for human survival, there are still millions of people who lack access to this water. Today Indian companies are advocating for sustainable and ethical approaches to water resource management through their corporate social responsibility initiatives. Research has shown that corporate social responsibility initiatives have directly led to the global mobilization of millions of individuals as water activists. Further more companies are adopting modern technologies to reduce water waste and boost operational effectiveness. These indicate that corporate social responsibility encompasses not only moral considerations but also financial and environmental considerations. Corporate social responsibility efforts are perceived by many firms as excessively costly. However, companies can find ways to cut expenses by forming strategic partnerships and leveraging technological improvements. One such strategy is to use these collaborations to promote water conservation and the upkeep of cleanliness.[1]