Glipco Manufacturing Ltd., a large multinational company, which is well known for the charitable activities it takes up as part of its CSR programme, has experienced increasing pressure from stakeholders to formalize its

Glipco Manufacturing Ltd., a large multinational company, which is well known for the charitable activities it takes up as part of its CSR programme, has experienced increasing pressure from stakeholders to formalize its commitment to sustainability as more than a regulatory obligation. The Company annually spends around ₹ 18 crores towards CSR activities. As the world moves towards focus on the United Nations Sustainable Development Goals (SDGs), the Company's top management understood the need to connect operational functions and reporting to a framework of the SDGs. In the second quarter of the fiscal year, Alisha, Company Secretary, was given the responsibility of starting and leading the conversation about integrating the SDGs at the board level. She was also entrusted with the responsibility of supporting the CSR committee and liaising with NGOs, which the company engaged to execute its CSR projects. She began with a concise overview of the global relevance of the SDGs and emphasized the role of corporate governance in promoting sustainable practices. The Sustainable Development Goals (SDGs) are the world's best plan to build a better world for people and our planet by 2030. She also addressed ISO 26000 in her discussion. In the modern business landscape, organisations are increasingly expected to take responsibility for their social, environmental and economic impacts. Alisha further informed the Board that the Company is in the process of aligning with the United Nations Sustainable Development Goals and relevant CSR projects have been taken up by the Company to achieve a few SDG goals like distribution of sanitation kits and installation of toilets in identified villages, installation of a system that clean and reuse water to save freshwater, etc. In its meeting, the Board appreciated Alisha's inputs, but wanted to understand the impact of the CSR activities of the Company and improvements in the process, if any. Alisha informed the Board that the CSR impact assessment is not mandatory, considering the amount they spend. Is CSR impact assessment mandatory for Glipco Manufacturing Ltd. ? Comment.