Socially responsible business as an effective objective of a circular economy model establishing

Neboha Tetiana
PhD in Economics, Senior Researcher, Department of Science, Education and Business Integration, State Organization «Institute of Market and Economic & Ecological Researches of the National Academy of Sciences of Ukraine», Ukraine, e-mail: t.neboha@gmail.com, ORCID ID: https://orcid.org/0000-0002-5025-7299

Golikova Olha
PhD in Economics, Researcher, Department of Economic Regulation of Environmental Management, State Organization «Institute of Market and Economic & Ecological Researches of the National Academy of Sciences of Ukraine», Ukraine, e-mail: olga.iprei@gmail.com, ORCID ID: https://orcid.org/0000-0001-7301-2430

Cite this article:

Neboha, T., Golikova, O. (2022). Socially responsible business as an effective objective of a circular economy model establishing [Sotsialno vidpovidalnyi biznes yak efektyvne tsilepokladannia stanovlennia modeli tsyrkuliarnoi ekonomiky], Socio-economic research bulletin, Vìsnik socìal’no-ekonomìčnih doslìdžen’ (ISSN 2313-4569), Odessa National Economic University, Odessa, No. 3-4 (82-83), pp. 96-110.

Abstract

In the article authors analyze modern global practices of conducting socially responsible business. It is shown that socially responsible business is a key component of social capital. The social responsibility analytical data of national business in Ukraine in terms of environmental protection were analyzed, and the indicators dynamics characterizing the efficiency of waste management in Ukraine from 2011 to 2020 were determined. The dynamics of enterprises’ investments in equipment and facilities related to ecological complex technologies were considered, and it was determined that due to the uneven capital investments distribution and current expenditures of enterprises among ecologically important directions for measures related to environmental protection, there is a need for state regulation of this sphere, and, especially, when the country is in a state of war and post-war recovery. Recommendations were formulated regarding the fact that the state should develop and apply a system of motivational measures to attract national business to participate in meeting social environment needs. It was concluded that the direction of business in its activities towards socially responsible contributes to the implementation of effective goal-setting of a circular economy model formation. The basis of the research was information resources such as regulatory and legal acts of Ukraine, analytical materials of the State Statistics Service of Ukraine, strategic and program documents of the European Union (EU) regarding the priorities of sustainable development and the circular economy model, scientific works of Ukrainian and international scientists on research topics, etc. In the process of scientific research, such research scientific methods as empirical, namely description and comparison; theoretical: analysis, synthesis and generalization; systemic were applied. The study was prepared within the framework of the scientific research “Imperatives of socially responsible business on the basis of economy ecologization” (KPKVK 6541230 “Support of priority scientific research and scientific and technical (experimental) developments for the state”).

Keywords

sustainable development; strategic development; non-linear economy; corporate social responsibility; waste management; image risks; competitiveness of the company; post-war recovery.

JEL classification:L310; Q530; Q560; O520; DOI: https://doi.org/10.33987/vsed.3-4(82-83).2022.96-110

UD classification: 338.242:005.35:65

This work is licensed under a Creative Commons Attribution 4.0 International License. To view a copy of this license, visit http://creativecommons.org/licenses/by/4.0/

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