MoEFCC revises financial obligation on companies for social development of project-impacted regions

The Ministry of Environment, Forest and Climate Change has issued guidelines asking companies seeking environmental clearance to set aside up to 2 per cent of their capital investment for corporate environment responsibility (CER). While brownfield projects would be required to earmark 0.125 to 1 per cent of additional capital investment for CER, the required slab for greenfield projects ranges from 0.25 to 2 per cent. Until now, the ministry imposed a financial obligation on companies for social development of project-impacted regions on a case-to-case basis.

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