FINANCIAL ASPECTS OF SOCIAL AND ENVIRONMENTAL RESPONSIBILITY OF BUSINESS

January 1, 2022 - Putintsev, Anatolii; Klymenko, Oksana; Mala, Svitlana; Horlach, Alla; Petrukha, Nina; Kovtun, Mykyta

Journal or Book Title: AD ALTA-JOURNAL OF INTERDISCIPLINARY RESEARCH

Abstract: The article aims to study the theoretical and practical features of a business's environmental and social responsibility. The task was solved using methods of analysis and synthesis. Both approaches provided the results of a study of the academic literature on the selected issue. Based on the methods of theoretical generalization, comparison, systematization, and sociological analysis, the effectiveness of the use of environmental initiative projects in the business sector is revealed, the results of the study in domestic and world practice are compared, and the conclusions are reasoned. The authors assessed the current state of development of the system of environmental and social responsibility in Ukraine and the world. They identified its main features and trends of its distribution. The tested innovative Ukrainian practices, start-ups, and foreign experience of environmental responsibility of business were analyzed. The work proposes the most effective tools and modern approaches to ensure an environmentally responsible orientation of business entities in Ukraine based on developing and disseminating environmental innovation projects and implementing foreign experience in social responsibility management. The authors revealed new features and trends in creating a business's environmental and social responsibility. An innovative toolkit for managing ecological protection, conservation, and business motivation in environmental and social responsibility is proposed. As a result, new approaches have been proposed regarding disseminating environmental initiatives in business activities. The use of the main criteria, the production of environmentally friendly vehicles, is presented, which encourages responsible consumption and promotes environmental protection.

Type of Publication: Article

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