Triple bottom line and corporate social responsibility performance indicators for Russian companies

Abstract

This article analyses the relationship between Triple Bottom Line (TBL) and Corporate Social Responsibility (CSR) performance indicators: EBITDA, Emissions Score, Resource Use Score, Environmental, Social and Governance (ESG) Score, Environmental Innovation Score, Product Responsibility Score, CSR Strategy Score, Management Score, Shareholders Score. The paper develops the 3-overlapping-circles sustainability model in the context of CSR performance indicators. The data in this study represents scores of 34 major Russian companies, which operate domestically and abroad, in particular, in developing regions like Africa. The mathematical methods like regression has approved the link between environmental innovations and ESG level. It is the first empirical research using this approach for analysis of CSR performance indicators in Russia, because the same data was unavailable before. The paper suggests that environmental innovations and ESG level is linked to Russian largest companies. If business is stimulated towards environmental innovations and R&D. It gives more projects and make the ESG level higher. Paper proposes the concept of TBL in Russian companies for increasing level of ESG and business performance (EBITDA). Understanding how 3-overlapping-circles model implementation can improve CSR performance indicators is a significant question. In addition, we analyzed regression of CSR performance indicators in 2018 year for Russian large companies to find the optimal solution.