Romanian Nuclear Energy and Hydropower - A CSR Perspective

Nicoleta-Elena Cristea and Antonio-Alexandru Popescu-Cristea
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Nicoleta-Elena Cristea: Bucharest University of Economic Studies, Bucharest, Romania
Antonio-Alexandru Popescu-Cristea: Bucharest University of Economic Studies, Bucharest, Romania

Oblik i finansi, 2024, issue 2, 164-172

Abstract: As part of corporate social responsibility, companies must demonstrate an active social position, be in constant dialogue with society and take an active part in developing the country and solving its urgent problems. Given the ongoing war between Russia and Ukraine and restrictions on the import of energy carriers from Russia, the activities of companies in the energy sector of Romania require close attention to determine their efficiency and the level of their corporate social responsibility. This research inquiry is: To what extent and in what manner do Romanian corporations from nuclear energy and hydropower engage in CSR activities? In this study, we examined the sponsorship activities of Romania's two largest electricity-producing companies: Nuclearelectrica and Hidroelectrica. Data for the study was obtained from those two companies' financial and non-financial reports, their websites and the Minister of Finance from Romania's online platform. We extracted all the sponsorship paid by the companies and split them into activity types from our perspective. According to the study's results, in 2023, the priority areas of funding for Hidroelectrica's corporate social responsibility activities were health care - 41% (506,419 euro), culture - 21% (266,286 euro), and sports - 17% (218,498 euro). Much less funds were allocated to education, the social sphere, and other areas. It is unclear from the publicly available data whether the sponsorships included in the other category benefited local communities. Instead, Nuclearelectrica in 2023 provided the largest sponsorship for education with 41% (984,587 euro), health with 26% (627,685 euro) and the environment with 17% (410,043 euro). Significantly less funds were allocated to other areas. Both companies contributed to the good of local communities through their sponsorship and activities. However, Hidroelectrica must use its funds more rationally to maximize its positive impact on nature and social life. Funding events, the purpose of which is difficult to understand, can reduce public trust in the company.

Keywords: sustainability reports; CSR; ESG; sponsorship; nuclear energy; hydroelectricity (search for similar items in EconPapers)
JEL-codes: Q56 (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:iaf:journl:y:2024:i:2:p:164-172

DOI: 10.33146/2307-9878-2024-2(104)-164-172

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