The IUP Journal of Law Review
Sustainable Development Goals, Climate Action and Tree Planting

Article Details
Pub. Date : Oct, 2020
Product Name : The IUP Journal of Law Review
Product Type : Article
Product Code : IJLR21020
Author Name : Shiv Nath Sinha
Availability : YES
Subject/Domain : Arts & Humanities
Download Format : PDF Format
No. of Pages : 17

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Abstract

The current pandemic and the resulting economic downturn have had a significant impact on all the sources of income, whether private or public. This sudden socioeconomic change has created new risks, unprecedented challenges and vast opportunities for many of the charities and even existential crisis for a few. Hence, it is crucial for charities to adhere to the governance norms which will steer them ahead in these tough times. Charities with below par governance standards may well find themselves paying a heavy price in days ahead. The effect of quality of governance will also impact the perception of the key national and international stakeholders and certainly the smooth functioning of the charity. Loss of public trust leads to a fall in donations and resources, and so it is essential that charities adhere to high standards of governance. Governance in the charity sector refers to the framework and processes concerned with managing the overall direction, effectiveness, supervision and accountability of an organization. This paper highlights the governance principles which are of utmost importance for charities for their growth and sustainability. The paper highlights the governance standards incorporated in Australia, Ireland, Singapore and United Kingdom.


Indian Society: Introduction

Charitable Organizations, Non-Profit Organizations, NGOs, Trusts, Societies (hereinafter referred to as 'Charities') make a vital contribution to the economic, social and political sector of any country, especially for the people at the 'bottom of the economic pyramid'. The role of charities is no less than the role of a profit-making organization in the equitable development of any nation. Charities work as a vital partner to the government and profit-making organizations in fighting poverty, hunger, illiteracy, inequality, social injustice, unemployment, domestic violence, corruption, environmental degradation, epidemic, natural disaster, etc. Charities have also highlighted the social and environmental externalities of economic activities. Many charities have challenged some of the major multinational companies' labor, and environmental and human rights records, putting them under huge pressure. Even those companies which are not directly in the consumer facing industry are challenged for their downstream customers and suppliers. The constant pressure from the charities has compelled many corporations to shift from their narrow Milton Friedman's Shareholder approach to a much broader Freeman's Stakeholder approach. Charities are going to play a major role in the success of government flagship programs like Swachh Bharat Abhiyan, Beti Bachao Beti Padhao, Skill India, Namami Ganga and Gramoday se Bharat Uday, which requires mindset and behavior change in the people. If the country is to achieve the living standard of the developed world by 2050, then the charities would need to play a critical role.


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