LEGAL REGULATION OF SOCIAL RESPONSIBILITY OF BUSINESS IN UKRAINE

Abstract

The article is devoted to the research of legal regulation of social responsibility of business in Ukraine. The normative-legal acts which regulate corporate social responsibility (hereinafter – CSR) in Ukraine are characterized and classified. It is established that the concept of social responsibility in the context of business means that the firm/company functions to achieve its financial goals and in addition helps society. The idea is that businesses should combine profitable activities with activities that benefit society. In Ukraine the mediocre level of integration of social activity into the general strategy of development of the company is observed. At the same time it is shown that the introduction of international standards of quality and environmental safety management into business activities has become a prerequisite for entry and work in the European market for Ukraine. The normative-legal support of CSR at the national and regional (branch) levels is explained. In particular, the considered normative legal acts characterize the relevant rules and norms related to social responsibility of business in Ukraine, it is indicated that there are collisions and gaps in the legislation regarding regulation of CSR. The state of CSR regulatory support at the corporate level has been analyzed. The condition of normative legal provision of social responsibility of business at the national level is described. First of all, analysis of legal acts valid and ratified in the field of CSR in Ukraine was used as the research method. Also, the article carried out the method of generalization and synthesis of information relating to the legal regulation of corporate social responsibility within the territory of Ukraine. During the research, the concept of corporate social responsibility was disclosed and consolidation of regulatory legal acts of CSR in Ukraine according to the regional level was performed. The practical value of the article lies in the fact that the analyzed and consolidated information concerning the legal regulation of CSR in the future will help to systematize the regulatory legal acts in the field of corporate social responsibility at the national level. It should be noted that corporate social responsibility is a factor in increasing the profitability and image of the company, reducing costs, improving employee morale and customer loyalty, as well as other benefits.