Oksana Safonchyk

  Konstiantyn Vitman


In the world practice, corporate social responsibility (CSR) is recognized an important component of sustainable development strategy, for which reason governments of many countries pay considerable attention to the promotion of CSR ideas at the national level, creating favourable conditions for socially responsible behaviour of national and foreign enterprises. The author aims to analyse the experience of regulation of corporate social responsibility policy in the EU Member States, to show the practice of national governments of the EU Member States in the field of CSR, and to determine prospects of corporate social responsibility at the modern development stage in view of implementing the concept of sustainable development. Summarizing approaches to the definition of CSR, it can be emphasized that CSR should positively influence society, in which the enterprise operates. It is a free choice in favour of increasing the welfare and moral and ethical values of society through appropriate approaches to doing business. Relations between enterprises both in the European Union and in other countries are increasingly based on the principles of CSR. Compliance with these principles becomes an important prerequisite for attracting foreign investment and obtaining government orders. In the international context, CSR is an efficient instrument to develop partnership and cooperation of countries in the context of achieving the Millennium Development Goals, to control the negative influence of the industrial sector on ecology, to prevent social crises, as a consequence, to ensure sustainable development of the world civilisation. Among the European institutions, the European Commission’s committees play a key role in disseminating the idea of CSR. One of the main factors in strengthening the EU economy is considered precisely the stable growth based on the rational use of resources, ecology, and competition. Plans of the Strategy for 2012–2015–2020 clearly show that the European Union intends to strengthen control over economic management and “voluntarily oblige” the business to follow the rules of CSR. The goal of a new CSR Strategy is to create conditions favourable for sustainable development, responsible business conduct, and permanent employment in the medium and long term. Key changes in comparison with the policy for 2010 – definition of corporate social responsibility as “Responsibility of enterprises for their impact on society” and rejection of the principle of voluntariness: “the European Commission recognizes that some regulations stimulate CSR, therefore, public authorities should support the CSR development by applying a mix of voluntary and regulatory policies”. As the study showed, the governments of the EU countries are actively engaged in the development and promotion of corporate social responsibility. The role of the state is manifested in the implementation of the following key functions: the state as a legislator and a controlling authority; the state as an employer; the state as a consumer and a buyer; the state as a partner; the state as an institutional investor; the state as a participant in international relations. The most significant results have been achieved by those EU Member States that use the systemic approach to CSR development. In these countries, responsible state structures have been formed that coordinate work in all areas. The approach to the choice of instruments is individual and is selected taking into account the priorities of the country’s socio-economic development and the importance of economic, environmental, and social aspects. An example of Great Britain, France, Belgium, Estonia, and Spain shows the possibility of successful CSR development.

How to Cite

Safonchyk, O., & Vitman, K. (2019). PROSPECTS OF CORPORATE SOCIAL RESPONSIBILITY DEVELOPMENT IN THE EU IN SUSTAINABLE DEVELOPMENT. Baltic Journal of Economic Studies, 5(4), 212-220.
Article views: 241 | PDF Downloads: 13



corporate social responsibility (CSR), sustainable development, social policy of government, state regulation, EU policy, Europe 2020 strategy, social strategy, CSR instruments


Abramov, R. (2005). Korporativnaya sotsialnaya otvetstvennost kak primer organizatsionnogo izomorfizma v usloviyakh globalizatsii [Corporate social responsibility as an example of organizational isomorphism in the context of globalization]. Zhurnal issledovaniy sotsialnoy politiki, 3, 327–346. (in Russian)

Analytics (2017). Social responsibility of business. Information and analytical material. Retrieved from:

Baffett, U. (2008). Esse ob investitsiyakh, korporativnykh finansakh i upravlenii kompaniyami [Essay on investment, corporate finance and company management]. Moscow: Alpina Business Books. (in Russian)

Belyavska, K. S. (2011). Sotsialna vidpovidalnist biznesu: evolyutsiya pohlyadiv na problemu. [Social responsibility of business: the evolution of views on the problem]. Visnyk Khmelnytskoho natsionalnoho universytetu, 1, 228–334. (in Ukrainian)

Berezina, O. Yu. (2010). Suchasni modeli korporatyvnoyi sotsialnoyi vidpovidalnosti [Modern models of corporate social responsibility]. Ekonomichnyy prostir: zb. nauk. pr. Dnipropetrovsk: PDABA Economic Space: Sb. sciences Dnipropetrovsk, 41, 194–202. (in Ukrainian)

Bodnaruk, O. (2016). Yevropeyskyy dosvid derzhavnoho rehulyuvannya korporatyvnoyi sotsialnoyi vidpovidalnosti [European experience of state regulation of corporate social responsibility]. Visnyk DonDUU. Menedzher, 2(71), 41–48. (in Ukrainian)

Bowen, H. (1953). Social responsibilities of the businessman. N.-Y.: Harper & Row.

Davis, K. (1960). Can business afford to ignore social responsibilities? California Management Review, 2, 17–21.

Detomasi, D. (2005). The Political Roots of Corporate Social Responsibility. Journal of Business Ethics, 82(4), 29–32.

Carroll, A. (1979). Three-dimensional conceptual model of corporate social responsibility performance. Academy of Management Review, 4, 5–9.

Crane, A., Matten, D., & Moon, J. C. (2008). Theory Searching for a Political Home. Corporations and Citizenship. Cambridge: Cambridge University Press.

Government as Partner? (2006). CSR Policy in Europe. Gutersloh: Bertelsmann Stiftung.

Hoskins, Т. (2007). Corporate Social Responsibility Handbook. London: The ICSA.

Faydor, M. (2008). Responsibility of business. Business world, 5, 66–69.

Fedorova, O. V. (2011). Sotsialna vidpovidalnist biznesu – chy mozhlyvyy tsey fenomen v Ukrayini? [Social responsibility of business – is this phenomenon possible in Ukraine?]. Ekonomika. Menedzhment. Pidpryyemnytstvo : zb. nauk. prats, 23(I). (in Ukrainian)

Friedman, M. (1970). The Social Responsibility of Business is to Increase its Profits. The New York Times. Magazine, September 13. Retrieved from:

Freeman, R. (2004). Strategic management: a stakeholder Approach. Boston: MA: Pitman.

Fursa, M. (2012). Rozvytok korporatyvnoyi sotsialnoyi vidpovidalnosti v Ukrayini: derzhavno-upravlinskyy aspekt [Development of Corporate Social Responsibility in Ukraine: Public-Management Aspect]. Efektyvnist derzhavnoho upravlinnya, 30, 67–74. (in Ukrainian)

Kretova, A., & Berezovska, N. (2011). Rozvytok korporatyvnoyi sotsialnoyi vidpovidalnosti v Ukrayini za uchasti derzhavy: mekhanizm vzayemodiyi [Development of corporate social responsibility in Ukraine with the participation of the state: the mechanism of interaction]. DonNUU – Donetsk: TECHNO-PAK. Volume XII. (in Ukrainian)

Kotler, P. (2005). Corporate Social Responsibility. How to do as much good as possible for your company and society. Kyiv: Standard.

Khamidova, A. (2017). Korporatyvna sotsialna vidpovidalnist yak faktor pidvyshchennya efektyvnosti mekhanizmu derzhavnoho rehulyuvannya ekonomiky [Corporate social responsibility as a factor of increasing the efficiency of the mechanism of state regulation of the economy]. Retrieved from: (in Ukrainian)

Kulyeshova, L. V. (2013). Korporatyvna sotsialna vidpovidalnist yak instrument staloho rozvytku pidpryyemstv [Corporate social responsibility as an instrument for sustainable development of enterprises]. Visnyk Donbaskoyi derzhavnoyi mashynobudivnoyi akademiyi, 1(30), 195–199. (in Ukrainian)

Lazorenko, O., & Kolyshko, R. (2008). Bazova informatsiya z korporatyvnoyi sotsialnoyi vidpovidalnosti: posibnyk [Basic information on corporate social responsibility: a guide]. Kyiv: Energy. (in Ukrainian)

Mazurenko, V. P. (2011). Suchasna kontseptsiya korporatyvnoyi sotsialnoyi vidpovidalnosti u mizhnarodnomu biznesi [Contemporary Concept of corporate social responsibility in international business]. Efektyvna ekonomika. Retrieved from: (in Ukrainian)

Melnyk, S. V., Tresvyatska, T. A., & Budonna, L. V. (2010). Kontseptsiya reformuvannya vitchyznyanoyi systemy rehulyuvannya umov, hihiyeny, bezpeky ta okhorony pratsi [The concept of reforming the domestic system of regulation of conditions, hygiene, safety and occupational safety]. Luhansk: DU NDI STV. (in Ukrainian)

Michael Porter (2007). Theory of social responsibility. Financial Times. October 1, 2007. Retrieved from:

Ramazanov, A. (2007). Kontseptsiya korporatyvnoyi sotsialnoyi vidpovidalnosti. Problemy teoriyi ta praktyky upravlinnya [Concept of corporate social responsibility. problems of the theory and practice of management]. Kyiv: Energy. (in Ukrainian)

Responding (2003). Responding to the Leadership Challenge: Findings of a CEO Survey on Global Corporate Citizenship. Geneva.

Reznyk, N. (2014). Sotsialna vidpovidalnist biznesu: sutnisno-teoretychni aspekty [Social responsibility of business: essentially theoretical aspects]. Zhurnal Yevropeyskoyi Ekonomiky. Veresen. (in Ukrainian)

Sardak, S. E., & Haslenko, K. S. (2017). Vnutrishnya korporatyvna sotsialna vidpovidalnist pidpryyemstva: teoretychni ta praktychni aspekty [Internal corporate social responsibility of the enterprise: theoretical and practical aspects]. Retrieved from: (in Ukrainian)

Shevchenko, O. (2014). Regulation of the corporate social responsibility policy: the practice of the member states of the European Union. Actual problems of international relations. Release 122 (part I).

Social Corporate (2015). Social Corporate Responsibility in Belgium. Retrieved from:

Sofiyenko, A. V. (2012). Sotsialna vidpovidalnist biznesu: rozuminnya ta suchasni tendentsiyi. [Social responsibility of business: understanding and current trends]. Ekonomichni innovatsiyi, 47, 297–301. (in Ukrainian)

Stratehiya spryyannya (2012). Stratehiya spryyannya rozvytku sotsialnoyi vidpovidalnosti biznesu v Ukrayini [Strategy for Promoting the Development of Corporate Social Responsibility in Ukraine]. Retrieved from: (in Ukrainian)

United Nations Global Compact. Retrieved from:

Vorobee, V. (2005). Corporate Social Responsibility or Benefit? Kyiv: Kyiv-Mohyla Business Studio, №10. Retrieved from:

Vorona, O. (2010). Praktyka realizatsiyi sotsialnoyi vidpovidalnosti biznesu v Yevropi ta v Ukrayini [Practice of realization of social responsibility of business in Europe and in Ukraine]. Retrieved from: (in Ukrainian)