Discuss briefly the Department of Public Enterprises Guidelines on Corporate Social Responsibility and Sustaniability for Central Public Sector Enterprises.

DPE has issued New Guidelines on Corporate Social Responsibility and Sustainability for Central Public Sector Enterprises with effect from 1st April 2013. The guidelines issued are in consonance with the National Voluntary Guidelines for Social, Environmental & Economic Responsibilities of Business issued by the Ministry of Corporate Affairs in July 2011. In the revised guidelines the thrust of CSR and Sustainability is clearly on capacity building, empowerment of communities, inclusive socio-economic growth, environment protection, promotion of green and energy efficient technologies, development of backward regions, and upliftment of the marginalized and under-privileged sections of the society. It is mandatory for CPSEs to take up at least one major project for development of a backward district. CPSEs are expected to formulate their policies with a balanced emphasis on all aspects of CSR and Sustainability - equally with regard to their internal operations, activities and processes, as well as in their response to externalities. Public Sector enterprises are required to have a CSR and Sustainability policy approved by their respective Boards of Directors. Each CPSE shall have a Board level committee headed by the Chairman and / or Managing Director, or an Independent Director to oversee the implementation of the CSR and Sustainability policies of the Company. The public sector enterprise shall have to disclose reasons for not being able to spend the entire budget on CSR and Sustainability activities as planned for that year, and shall make every endeavor to spend the unutilised budget of any year within the next two financial years. In case the CPSEs are unable to spend the unutilised budget within the next two financial years, the unspent amount would be transferred to a 'Sustainability Fund' to be used for CSR and Sustainability activities.