The Impact of the COVID-19 Pandemic on Corporate Social Responsibility and Human Development Index

Author:Rajeev Sijariyaa*, Aditya Mishrab, Yogesh Sharmac, Ankit Surid, Meenakshie

Abstract:
The COVID-19 pandemic has triggered an unprecedented global crisis, profoundly affecting all aspects of society, including the business landscape and societal well-being. This study investigates the multifaceted impact of the pandemic on two critical dimensions: Corporate Social Responsibility (CSR) practices among organizations and the Human Development Index (HDI) of nations. Drawing on a comprehensive analysis of data spanning the pre-pandemic and pandemic periods, this research explores the complex interplay between these two constructs. The study assesses how the pandemic has influenced CSR initiatives across diverse industries and regions. It examines changes in CSR strategies, resource allocation, and the prioritization of social and environmental responsibility in corporate decision-making. The research also investigates whether the pandemic has acted as a catalyst for heightened CSR engagement or has imposed limitations on organizations' ability to fulfill their CSR commitments. This study delves into the impact of COVID-19 on the Human Development Index, a measure encompassing health, education, and income indicators. It explores how disruptions caused by the pandemic, such as healthcare strain, educational challenges, and economic recessions, have affected nations' HDI scores. The research also examines the potential correlation between nations with robust CSR practices and their ability to mitigate the adverse effects of the pandemic on human development. Findings from this study provide valuable insights into the dynamic relationship between corporate social responsibility and societal well-being during times of crisis. Understanding the pandemic's influence on CSR and HDI can inform stakeholders, including businesses, policymakers, and international organizations, as they navigate the path to recovery and long-term sustainability in a post-pandemic world. As the world grapples with the enduring effects of the COVID-19 crisis, this research sheds light on the evolving landscape of corporate responsibility and its integral role in shaping human development outcomes.

Keywords:Key Words: Covid-19, Corporate Social Responsibility, Human Development Index, Stakeholders, Sustainability.

DOI:10.46333/ijtc/12/2/12

International Journal of Trade & Commerce (Vol: 12 Issue:2)