Mandatory reporting on social, environmental and economic initiatives...

<p>...may be in the works...for India.&nbsp; An article in today's Times of India details:<em><br /> <br /> The Institute of Chartered Accountants of India (ICAI), the statutory body that sets accounting and auditing standards for the corporate sector, is working on a new set of rules on CSR, making it a must for companies to report on social, environmental and economic initiatives. <br /> <br /> "Broadly, the concept is to ensure that today's development and growth does not come at the cost of the future generation," ICAI secretary Ashok Haldia told TOI. Inspired by Global Reporting Initiative (GRI), a collaborating centre of the United Nations Environment Programme, ICAI has formed a committee to develop a framework for standardising the disclosures related to sustainability reporting, which is likely to come out with its suggestions in a few months.</em><br /> <br /> It seems that many "first world" countries could take a lesson or two from this.&nbsp; While many spend time worrying how developing economies, such as India and China, will affect our global sustainability, have we seen anything such as this even considered by a "first world" administration?#break#Full article <a href="http://timesofindia.indiatimes.com/Business/New_CSR_rules_in_offing/arti... /> <em><br /> <br /> </em></p>