Aspects of ISO 26000 Related to Transaction and Environmental Costs

Abstract

The article presents the theoretical aspects of the analysis of environmental and transaction costs derived from the ISO 26000 and a case study demonstrating the application of the Standard methodology in practice. The aim of the article is to focus on the competences provided by ISO 26000 for highlighting, accounting and analyzing the environmental and transaction costs of businesses. ISO 26000 does not provide a direct methodology for the accounting of environmental and transaction costs, but it contains principles and subjects that in practice lead companies to separate these costs. The possibility to highlight and utilize environmental and transaction costs for the optimization of companies’ business activities is an important aspect of the application of ISO 26000. This is an important business option because with the separation, the managerial analysis and the optimization of environmental and transaction costs, companies increase their competitiveness and are able to increase their profit while maintaining a policy of good corporate social responsibility. The studied case shows how a small company, in a small and almost economically ailing state, voluntarily following the principles and guidelines of ISO 26000, raises its economic performance indicators and progresses in its socially responsible presentation.