Corporate Social Responsibility (CSR) is the self-regulating mechanism by which businesses ensure to comply with globally agreed upon ethical norms and standards, and engage in actions for wider social benefit, such as acts to mitigate their impact on the environment, improving the labour conditions of the workforce or giving back to the community within which they operate.
Over the past decade, Sri Lanka has seen a steady rise in foreign debt, largely as a result of unsustainable infrastructural loans. This debt was exacerbated by the effects of the Covid-19 pandemic, with the highly remunerative tourism sector majorly impacted. In early 2021, the government was forced to declare a state of economic emergency amidst a distressing fall in the value of the Sri Lankan Rupee.
On 1 December 2021, the EU launched its brand new infrastructural development scheme – “The Global Gateway”. By pledging to mobilise up to 300 billion EUR in investments by 2027, the EU is adding significant firepower to its toolkit of economic statecraft.
As the EU is asserting itself as an Indo-Pacific player by working with existing multilateral groupings, it maintains a degree of strategic ambiguity, especially regarding China. While this ambiguous stance may limit cooperation with the Quad on traditional security issues, the Quad and the EU hold the potential to jointly deliver on several, cross-domain transnational issues.
The virtual meeting between the leaders of the Quadrilateral Security Dialogue (Quad) that took place on the 12th of March
Announcements made following the meeting showcase renewed desire for the establishment of a solid multi-faceted relationship between the EU and India, encompassing trade and technology. Behind this course of action lies a clearly shared common vision of a multipolar Indo-Pacific. The circumstances of this alignment, however, cast doubt on its long-term potential and implementation.
Talks of the state banning both the sale and the possession of cryptocurrency have instigated a public debate in India. What would such a ban entail, and would this truly be the way forward for India, particularly amid a severe public health crisis?