By Harsha Mukherjee
We have various reporting standards, measuring indicators, Key Point Indicators, frameworks and so on for corporate. All through the decade corporate have been an active participant in economic development of our nation. Presently, they are persuaded to be an active participant in the social development by means of philanthropy and lately by sustainable and inclusive growth. Most of the large scale companies are active in all the above mentioned spheres.
In recent times, corporate have been asked to follow reporting standards such as ISO 26000, GRI and so on which are accepted Internationally. We build a lot of rules and regulations for them, have we ever wondered from another dimension. Our Governments play an equal role in the Economic and Social development of the country. We already have existing frameworks for them such as democracy, anarchy, socialist and so on. In spite of the regulations by Judiciary there is corruption, unethical and dark practices observed.
Have you ever thought about standard solution that we aim to apply on corporate to apply on Government too? As a step forward to curb the above malpractices can we not introduce Reporting Standards for Government, measuring indicators, KPIs of Government project and make things more transparent and communicate to the society, after all we are the stakeholders too. And this should not be applicable to only emerging nations but at a global level and maybe make an Integrated Reporting standard for various Governments segregated based on the Frameworks they follow.
Sure there may be implementation hassles and speculations over the entire procedure, but it would definitely be a step towards TRUE Sustainable and Inclusive Development by all the players of our Society.
(Harsha Mukherjee is the editor, INDIACSR. She can be reached at firstname.lastname@example.org)