Наукові статті

Challenges and prospects of implementation environmental and social initiatives in international business

Левченко, І.В.

The article describes the interaction of international companies with the community, namely in the context of creating favorable working conditions and regulating environmental aspects of international companies, based on the concept of Corporate Social Responsibility (CSR). Awareness of the importance of CSR has led to theoretical developments and classification schemes that suggest that public relations and/or environmental factors may be the main drivers of CSR implementation, with little attention paid to the organizations themselves (i.e., their internal environment), while research offers few recommendations for CSR implementation. In addition, specific guiding principles for action - guiding principles on business and human rights – are considered, which are intended to go beyond the debate on voluntary or binding human rights instruments. These principles are based on the following key aspects: the state’s duty to protect, the corporate responsibility to respect, and access to remedy. The paper also analyzes the implementation of the UN Global Compact principles based on four key international agreements: The Universal Declaration of Human Rights, the ILO Declaration on Fundamental Principles and Rights at Work, the Principles of the Rio Declaration on Environment and Development, and the UN Convention against Corruption. Accordingly, the implementation of these principles at the state and company levels was considered on the basis of these principles. Based on the UN principles, it is established that it is very important to find an optimal balance between the current consumption of resources and the preservation of environmental quality for present and future generations in order to regulate environmental safety on the planet. Conflicts of interest arising from the ecological state of the environment are considered, for example, when a person working outdoors will benefit more from a less polluted environment or when those living near sources of pollution have less choice and may feel the effects of pollution more acutely, while wealthier people can afford to live in environmentally friendly areas. Thus, in order to formulate an effective environmental policy, the paper formulates a number of recommendations for the implementation of environmental and social responsibility Актуальні проблеми сталого розвитку / Том 1, № 2, 2024 / 58 / in international business based on the example of successful company practices.

English

2024

ecology

Challenges and prospects of implementation environmental and social initiatives in international business / I. Levchenko, A. Buriak, N. Maksiuta, D. Cherkaska // Актуальні проблеми сталого розвитку. – Т. 1. № 2. – С. 57–64. – https://doi.org/10.60022/2(2)-8SD.

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