(b) GAS limited, is in the business of renewable energy, including fuel cell, electrolyzer, battery energy storage system wishes to contribute to…

Principle 8 Promote Inclusive Growth and Equitable Development can work only with close participation and collaboration amongst the entities, authorities, the civil associations contributing to one another for a better livelihood, and assistance to the marginalized communities. The core elements of the eighth principle are: (i) The entities should have systems in place to identify and address the impacts of their activities on the social, cultural, and economic aspects of the people. This includes business-created issues like land acquisition and use, and construction activities for new facilities. (ii) The entities should review, measure, and track the adverse impacts of their activities on society and the environment and make action plans to mitigate them adequately. (iii) The entities should make efforts to bring up creative products, technologies, and business concerns that help the marginalized communities to have well-being and a better quality of life. (iv) Entities, when designing their CSR activities, should review the local and regional development priorities to help the marginalized groups and communities. (v) The entities should take care to ensure that business-induced displacement or relocation of communities does not happen, and in unavoidable cases, should make sure to have mutually agreed, participative, and informed negotiations to provide fair compensation to the affected people. (vi) All forms of intellectual property and traditional knowledge should get the deserved respect from the organisation, and efforts should be made to ensure that benefits derived from their knowledge are shared equitably.