Abstract
This paper investigates comparative analysis in order to trace approaches to interpretation of the content and principles of sustainable development due to increasing number of companies, declaring their commitment to the principles of sustainable development. I review a degree of compliance of Russian companies to international and national standards, relevant to practices of leading companies, a degree of involvement of Russian companies in general sustainable development. Particular interest lays in the study of influence of social responsibility of business, socially responsible sustainable development on the company. This line of research is only beginning to emerge in Russia. Interpretation of corporate social responsibility role allows a different look at the phenomenon of social responsibility and its role in sustainable development. Russian companies quickly accepted the concept of sustainable development, as well as the corresponding terminology. It is important to trace now how basic ideas and principles of sustainable development are reflected in the company’s strategy and implemented in practice. By analyzing non-financial reporting I will introduce ways, tendencies and problems of corporate social responsibility implementation by Russian companies.
Highlights
The issues associated with sustainable development problems, became a subject of discussion, both at the supra-national and national levels
Actively engaged in research in the field of sustainable development, noticed, “Sustainability has become a mantra for the 21st century” [1]
Formation of theoretical foundations of sustainable development of business, of corresponding system of concepts, principles and defining factors of sustainable development should help to eliminate the conceptual problems and contradictions that arise in the process of integration of sustainable development principles in corporate activities, to contribute to the implementation of sustainable development principles into practice
Summary
The issues associated with sustainable development problems, became a subject of discussion, both at the supra-national and national levels. Actively engaged in research in the field of sustainable development, noticed, “Sustainability has become a mantra for the 21st century” [1]. Many scholars correctly point out that actuality and relevance of sustainable development research issues are associated with many cognitive, theoretical and practical reasons, with formation of a number of long-term economic and social trends, global risks. An analysis of sustainable development approaches, implemented by Russian companies in practice, reveals a number of their characteristic features, as well as determins a degree of compliance of Russian companies and international and national standards, relevant to practices of leading companies, assesses degree of involvement of Russian companies in sustainable development in terms of globalization. Formation of theoretical foundations of sustainable development of business, of corresponding system of concepts, principles and defining factors of sustainable development should help to eliminate the conceptual problems and contradictions that arise in the process of integration of sustainable development principles in corporate activities, to contribute to the implementation of sustainable development principles into practice
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