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Corporate Social Responsibility and the Renewable Energy Development in the Baltic States

Wadim Strielkowski, Elena Tarkhanova, Natalia Baburina and Justas Streimikis
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Wadim Strielkowski: Department of Agricultural and Resource Economics, University of California, Berkeley, CA 94720, USA
Elena Tarkhanova: Department of Economics and Finance, Institute of Finance and Economics, University of Tyumen, 625003 Tyumen, Russia
Natalia Baburina: Department of Economics and Finance, Institute of Finance and Economics, University of Tyumen, 625003 Tyumen, Russia
Justas Streimikis: Lithuanian Centre for Social Sciences, Institute of Economics and Rural Development, LT-03220 Vilnius, Lithuania

Sustainability, 2021, vol. 13, issue 17, 1-18

Abstract: Recently, the approaches of the Corporate Social Responsibility (CSR) in the renewable energy development have changed with the new global approach to sustainability. Today, CSR is an evolving and dominating business practice that integrates sustainable development into a company’s business model. The main focus of our paper is on the public relations of corporate social responsibility in renewable energy development. We show that a proper approach to public relations and resulting communication and dissemination of products and results should be sustained. This paper assesses the new pathways for executing public relations for CSR with relation to the renewable energy projects. The study analyses the impact of corporate social responsibility on energy companies, which are expected to make a positive contribution to the development of sustainable energy. We use both the overview of the theoretical concepts and literature as well as analyze the case of the “old” and “new” European Union Member countries represented by the Baltic States that yield many similarities but differ in their economic development to show the best practices of promoting CSR in sustainable energy development. Our results demonstrate that the implementation of corporate social responsibility can help to create more ethical and conscious sustainable companies and to build better relationships with the environmentally engaged citizens and loyal customers who are also concerned about the environment, health and well-being of their communities.

Keywords: corporate social responsibility; renewable energy; public relations; sustainable development; Baltic States (search for similar items in EconPapers)
JEL-codes: O13 Q Q0 Q2 Q3 Q5 Q56 (search for similar items in EconPapers)
Date: 2021
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