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Corporate Social Responsibility and the Renewable Energy Development in the Baltic States

Author

Listed:
  • Wadim Strielkowski

    (Department of Agricultural and Resource Economics, University of California, Berkeley, CA 94720, USA
    Department of Trade and Finance, Faculty of Economics and Management, Czech University of Life Sciences Prague, 165 00 Prague, Czech Republic)

  • Elena Tarkhanova

    (Department of Economics and Finance, Institute of Finance and Economics, University of Tyumen, 625003 Tyumen, Russia)

  • Natalia Baburina

    (Department of Economics and Finance, Institute of Finance and Economics, University of Tyumen, 625003 Tyumen, Russia)

  • Justas Streimikis

    (Lithuanian Centre for Social Sciences, Institute of Economics and Rural Development, LT-03220 Vilnius, Lithuania
    Faculty of Management and Finances, University of Economics and Human Science in Warsaw, 01-043 Warsaw, Poland)

Abstract

Recently, the approaches of the Corporate Social Responsibility (CSR) in the renewable energy development have changed with the new global approach to sustainability. Today, CSR is an evolving and dominating business practice that integrates sustainable development into a company’s business model. The main focus of our paper is on the public relations of corporate social responsibility in renewable energy development. We show that a proper approach to public relations and resulting communication and dissemination of products and results should be sustained. This paper assesses the new pathways for executing public relations for CSR with relation to the renewable energy projects. The study analyses the impact of corporate social responsibility on energy companies, which are expected to make a positive contribution to the development of sustainable energy. We use both the overview of the theoretical concepts and literature as well as analyze the case of the “old” and “new” European Union Member countries represented by the Baltic States that yield many similarities but differ in their economic development to show the best practices of promoting CSR in sustainable energy development. Our results demonstrate that the implementation of corporate social responsibility can help to create more ethical and conscious sustainable companies and to build better relationships with the environmentally engaged citizens and loyal customers who are also concerned about the environment, health and well-being of their communities.

Suggested Citation

  • Wadim Strielkowski & Elena Tarkhanova & Natalia Baburina & Justas Streimikis, 2021. "Corporate Social Responsibility and the Renewable Energy Development in the Baltic States," Sustainability, MDPI, vol. 13(17), pages 1-18, September.
    • Handle: RePEc:gam:jsusta:v:13:y:2021:i:17:p:9860-:d:627848
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    References listed on IDEAS

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    1. Drago, Carlo & Gatto, Andrea, 2022. "Policy, regulation effectiveness, and sustainability in the energy sector: A worldwide interval-based composite indicator," Energy Policy, Elsevier, vol. 167(C).
    2. Rendani Mavis Matakanye & Huibrecht Margaretha van der Poll & Binganidzo Muchara, 2021. "Do Companies in Different Industries Respond Differently to Stakeholders’ Pressures When Prioritising Environmental, Social and Governance Sustainability Performance?," Sustainability, MDPI, vol. 13(21), pages 1-22, October.
    3. Roman Tylżanowski & Katarzyna Kazojć & Ireneusz Miciuła, 2023. "Exploring the Link between Energy Efficiency and the Environmental Dimension of Corporate Social Responsibility: A Case Study of International Companies in Poland," Energies, MDPI, vol. 16(16), pages 1-18, August.
    4. Dalia Streimikiene & Grigorios L. Kyriakopoulos & Gintare Stankuniene, 2022. "Review of Energy and Climate Plans of Baltic States: The Contribution of Renewables for Energy Production in Households," Energies, MDPI, vol. 15(20), pages 1-16, October.

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