Some Multinationals wield power at par with Governments: Yakunin

Some multinational groups wield power and influence at par with governments or states, if not more so, and business has accumulated responsibilities reaching far beyond the manufacturing of products or the provision of services, said the Chairman of the DOC supervisory board, Vladimir Yakunin, in Mumbai.

Yakunin was releasing a Social Audit Report on the Corporate Social Responsibility jointly published by the Dialogue of Civilizations Research Institute and ACC Limited at ACC Limited's Head Office, Cement House on Thursday.

The 130-page report discusses the social audit conducted at ACC for measuring performance in CSR for 2014-16, with a focus on its 14 cement manufacturing plants.

"The report gives an overview of ACC's journey in the last three years in the domain of corporate social responsibility, across our 14 plant locations spread across the country," explains Neeraj Akhoury, Managing Director & CEO, ACC Limited, "Going forward, our constant endeavour will be to expand our activities and engage with grassroots organisations locally, to strengthen our work in areas that directly meet the needs of the community in a cohesive manner."

The DOC believes in the stakeholder philosophy. We are convinced that entrepreneurship and a social conscience are interlinked, and that managerial focus must not be limited to the bottom line. Reconciliation of individual liberties and initiative with the needs and requirements of the collective - society at large - lies at the base of our worldview and vision. Neither shall reign paramount; humanity's progress throughout history is the story of the never-ending negotiation between individuals and the society they constitute," said the CEO of the Dialogue of Civilizations Research Institute, Pooran Chandra Pandey, who also Chairs the social audit committee of this report.

The report on community infrastructure will be sent to over 500 CEOs around the company's operating markets, reaching more than 90 countries. Pooran C. Pandey commented, "The current report represents yet another sincere effort from ACC in publishing a comparative review of its work and its social performance indicators for purposes of learning and development. I am sure that such an exercise by the company will go a long way towards setting industry standards in the social sector that call for more engagement at the community level. In this way, businesses will make more of a difference for society.