A Comprehensive Analysis of Legal Framework on Corporate Social Responsibility: A Study in SAARC Countries

Abstract

CSR is an evolving issue in the 21st century, underscoring ethical business practices and accountability, sustainable development, and inclusive growth. This paper tries to explore a comprehensive analysis of the legal framework of Corporate Social Responsibility (CSR) among SAARC countries, including India, Bangladesh, Pakistan, Sri Lanka, Nepal, Afghanistan, the Maldives, and Bhutan. The study also tries to identify the key challenges to harmonise the CSR best practices across the SAARC nations, along with certain policy recommendations for better CSR coordination within this region. The study reveals a diverse CSR framework among the SAARC nations, mostly a voluntary CSR approach, lacking a statutory CSR spending limit. India is the only country in this region that has a mandatory CSR framework with a statutory threshold limit for CSR spending. The study emphasised harmonising and promoting a uniform CSR framework with a coordinated approach for achieving the Sustainable Development Goals (SDGs).