CORPORATE SOCIAL RESPONSIBILITY AS A FACTOR OF SUSTAINABLE DEVELOPMENT OF THE STATE

Abstract

The article considers the role of corporate social responsibility as a key factor of sustainable development of the state. The current trends in the implementation of corporate social responsibility in the banking sector of Ukraine are analyzed. The impact of CSR on social stability, economic transparency and environmental responsibility is studied. The obstacles and challenges to the implementation of CSR in the state and business structures of Ukraine are identified. For Ukraine, the integration of CSR principles is becoming a prerequisite for further economic development and post-war reconstruction. The analysis has shown that the process of CSR implementation in Ukraine faces a number of obstacles, such as the lack of a clear regulatory framework, insufficient government support and low awareness of the benefits of CSR among company managers. There is a lack of incentives that would encourage companies to invest in environmental and social projects. Recommendations are made to improve the implementation of corporate social responsibility as a strategy for achieving sustainable development of the state. It is recommended to develop mandatory legislative norms for CSR reporting, introduce tax incentives and grant programs to support environmental initiatives, and raise awareness among company and banking executives through educational programs; develop partnerships between the state, the private sector, and international organizations to create conditions for the exchange of experience and resources. To fully integrate corporate social responsibility into the practical activities of domestic enterprises and institutions, it is necessary to develop clear mechanisms of motivation and regulation by the state. Corporate social responsibility can become an effective tool for achieving sustainable development of Ukraine, improving the reputation of Ukrainian enterprises and institutions at the international level and strengthening the economic stability of the country as a whole. On the basis of social responsibility, Ukrainian society will be able to achieve real democracy, cohesion, progressive human development, economic power, effective public administration, and a socially oriented economy.