A Multidimensional Comparative Analysis of Involvement in CSR Activities of Energy Companies in the Context of Sustainable Development Challenges: Evidence from Poland

Abstract

In recent years, corporate involvement in CSR has become increasingly important and appreciated in the context of the ideas and assumptions regarding sustainable development. Due to the specificity of the energy sector, its particular impact on the environment, the living conditions of the population, and the social involvement of energy companies is particularly desirable, therefore it is observed and assessed by many stakeholder groups. The aim of this article is to assess the CSR commitment of Polish energy companies listed on the Warsaw Stock Exchange. The assessment was based on the proposed indicator model, based on the data published in the annual reports of the companies. The study uses data from the years 2016–2020. The main research question is as follows: What is the engagement in CSR activities of six Polish energy companies towards contractors, investors, employees, society, and the environment? The obtained results show that the investigated energy companies present a similar average level of engagement in CSR activities. The highest level of involvement concerns the area of contractors and the lowest levels relate to the donors of capital and the environment.

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“…The benefit for the sustainable instrument issuers is primarily obtaining funds for ecofriendly investments (Nawrocki, Szwajca, 2021). Transformation in the so-called "green" direction requires long-term investments which will bring return a long time later (Martinez-Oviedo, Medda, 2019).…”

Analysis of the Motivation behind Corporate Social Responsibility Based on the csQCA Approach

“…The energy industry, for example, has a particular responsibility for CSR since it is crucial for sustainable development. In addition to pressure from laws, regulations, and social groups, many companies in the energy sector are proactive in incorporating CSR into their strategies and gaining stakeholder support for their business operations through social responsibility activities [20]. Moreover, Cai et al [21] found that for companies in controversial industries, even though their products may be harmful, these companies still enhanced their corporate value by engaging in CSR, while Thorisdottir and Johannsdottir [22] discussed the driving factors for companies in the fashion industry to engage in CSR, including brand equity, culture, activism, and human rights.…”

Responsabilidad social empresarial, imagen y reputación de la empresa petrolera venezolana

“…De manera que los gobiernos, las instituciones públicas, las organizaciones ambientales y la sociedad en general esperan que las empresas petroleras cumplan con estándares de RSE más elevados que las empresas de otros sectores. Esto subraya que la RSE en el ámbito de las empresas de petróleo y gas no es simplemente una cuestión de voluntad, sino una necesidad y una obligación (Nawrocki & Szwajca, 2021), para mejorar la imagen y la reputación (Amujo et al, 2012), entre otros objetivos.…”