Diluting liability

THE MINISTRY of Corporate Affairs has prepared a draft to update the National Voluntary Guidelines, aimed at helping businesses become responsible actors in society, but in the process appears to have diluted several of its provisions. All its nine principles are worded in a way that gives businesses enough liberty to find an escape route. While the existing guidelines safeguard owners of traditional knowledge and other forms of intellectual property, there is no such mention in the draft. About human rights, it omits words like "vulnerable and marginalised groups" and instead uses the vague phrase of "relevant stakeholders". The ministry is seeking public response till July 20 on the draft which is based on a report submitted two years ago by a committee set up by the government. The revision of the draft is aimed at making corporates responsible so that they help the country meet its Sustainable Development Goals and climate change targets.