SOCIAL RESPONSIBILITY OF BUSINESS IN UKRAINE

Abstract

The purpose of this article is to analyze the development of social responsibility in Ukraine in comparison with neighboring countries, to study the sustainability of Ukrainian business in the conditions of war and the main areas of activity of companies in the field of corporate social responsibility. Ukraine's course towards European integration opens many prospects for domestic companies to develop international markets. The implementation of CSR by Ukrainian companies is an extremely urgent task for increasing the level of their competitiveness in international markets. The article analyzes the level of development of social responsibility in Ukraine, focusing on its position in international rankings. The results of the analysis indicate the low positions of Ukraine in the ratings compared to neighboring countries and demonstrate the importance of implementing CSR in the activities of Ukrainian companies. It was determined that the war became a certain catalyst for the development of social responsibility of Ukrainian companies, which reviewed their CSR strategies and adapted them to the current needs of society. The article examines the results of a study of the sustainability of Ukrainian business in war conditions and analyzes the activities of companies that have become leaders in the CSR Index 2023. For the TOP 5 leading companies, the missions declared by them and the main directions and initiatives in the field of CSR are highlighted. The article notes that the integration of environmental, social and managerial intentions into the corporate strategy and the establishment of ESG indicators that will adequately reflect the company's unique competencies and meet international standards will contribute to its sustainable development and inclusion in international ESG ratings. To ensure a long-term effect, companies need to act comprehensively and implement CSR into their own development strategies, and measure the progress of achieving strategic goals in terms of ESG indicators. The introduction of regular reporting on sustainable development in terms of ESG indicators and the representation of domestic companies in ESG ratings, both global and Ukrainian, will have a positive impact on their business reputation, and will contribute to the improvement of Ukraine's position in the international arena.