Krishnan hit the main points; however, I would add that IT is particularly challenged in terms of looking out for their 'employee' stakeholders. By this I mean the employees working in sweatshops in the LDNs that companies like Apple prefer to utilize for assembling their iPhones, iPads, etc. It is insufficient to merely hire a company like Foxconn or some other "shield" like the textile factory owners in Bangladesh (where workers were literally imprisoned behind blocked doors and windows in a collapsing building). A concerned consumer (not to mention NGOs) will nonetheless blame the Western MNCs "contracting out" their work to third-party contractors when employees start committing suicide because the working conditions are so unbearable in the factories where they are assembling electronic devices that they themselves could never afford to purchase.
Krishnan in right, but some of the main policies that IT companies should keep are as follows:
1. Set of general principles and policy guidance (“what to do”).
2. While framework should include more in-depth management and guidance notes that provide more prescriptive or demonstrational direction on implementation (“how to do it”).
3. Also frameworks should also provide guidance through issue-specific toolkits and related case studies
Both are right from your percspectives, as CSR initiatives are evolving in every country, the IT industries in each have a unique delivery model to CSR.
In India, the new law presents several opportunities for companies to not only strengthen their CSR efforts but also shape India’s economic future and their own global competitiveness,” says the report “Organizing for Success on Corporate Responsibility: The Path to High Performance”
Indian IT companies are one of the first to prepare their sustainability reports. They have a major role to play to reduce carbon emissions, green computing, diversity of the workforce and community development. The following link from Wipro's website might help