What is CSR? 

• Corporate Social Responsibility (CSR) is a business philosophy that dictates that companies around the globe should deviate from the narrow path of chasing only financial gains and wealth buildup and embark on a journey of sustainable development. 
• It includes community welfare, ethical corporate conduct, climate action, defending the socio-economic rights of marginalised sections of society, among other aspects. 

CSR in India

• India is the first country in the world to make CSR mandatory, following an amendment to The Company Act, 2013 in 2014.
• Any company that has a net worth of at least Rs 500 crore, a turnover of Rs 1,000 crore or a net profit of Rs 5 crore is obliged to spend 2% of its average profits over the last three years on CSR.
• Businesses can invest their profits in areas such as education, poverty, gender equality, and hunger as part of their CSR compliance, as regulated by the law.

Why in News?

• Indian Renewable Energy Development Agency (IREDA), a Mini Ratna (Category – I) Government of India enterprise under the administrative control of Ministry of New and Renewable Energy, has launched a Corporate Social Responsibility (CSR) portal for enhancing transparency in its CSR initiatives. 
• The portal will facilitate transparency in receipt and disposal of CSR requests from various organizations and institutions. It will be accessible to all 24×7, with a CSR policy and proposal checklist for examination of CSR requests. 

https://pib.gov.in/PressReleasePage.aspx?PRID=1975453