CS Professional · Environmental, Social and Governance (ESG) - Principles and Practice · Green Initiatives
Veda Textiles Ltd, a Pune-based company, replaces paper board packs with a secure board portal, installs rooftop solar panels at its plant and shifts general meeting notices to electronic mode wherever members have registered email IDs. Which description best captures these steps as a whole?
These steps are green initiatives. Using a board portal, solar power and electronic notices reduces paper, energy and resource consumption, lowering the company's environmental footprint. Such measures are part of sustainable business practice and are not confined to CSR spending or related party dealings.
- AGreen initiatives, as they reduce the company's environmental footprint through resource-saving practicesCorrect
- BStatutory CSR spending, because every environmental step must be funded from the CSR budget
- CRelated party transactions, because they involve the company's own assets
- DWindow dressing, because green steps have no link with governance
Explanation
Cutting paper use, adopting renewable energy and sending e-notices are all measures that lower environmental impact, which is what green initiatives mean. They are not limited to CSR spending and are not related party dealings. They also support governance by improving efficiency and transparency.
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