Implication of Environmental Certification and CSR for Companies’ Sustainable Performance in Developing Countries

This article presents a new approach to measuring level of social and ecological consciousness in developing countries based on the example ofUkraine. The paper documents a relationship between introduction of eco-certification and corporate social responsibility practices into companies’ daily activities, and the possible subsequent increase of their revenues, social reputation and competitiveness on international markets. Environmental certification will be also considered as a systematic tool to guarantee the quality of products, production and company’s business processes.The research was conducted during 2014-2015 and has covered 35% of Ukrainian companies from various branches that had valid environmental certificates. Based on regional distribution, distribution according to the industry a company operates in, in this paper we explore correlation between implementation of eco-certificates and CSR and their influence on company’s performance.The research is aimed to demonstrate how the introduction of green policy, environmental certification and corporate social responsibility influence company’s societal value, its reputation and competitiveness on the market, and whether it helps receive financial benefits in short- or long-term period.