Question 1(a) · 10 marks · 105 words written
Opening · a definition
Corporate governance refers to the principles that must be followed for the effective functioning of an organisation.
ESG norms are must be integrated with multi-stakeholder approach.
Body · points
__Importance of integrating ESG norms with multi-stakeholders:-
- so that we sign contracts only with those suppliers who also follow ESG norms.
- so that our employees are diverse wrt. gender, regions, religions
→ so that legal rights of our suppliers, customers and employees are upheld. → so that institution as a whole benefits the society.
Close · a framework
Thus, in this way, corporate governance can reflect Gandhiji's vision of trusteeship that company is a trustee of resources of all its stakeholders.