GREENING BASIS OF THE SOCIALLY RESPONSIBLE BUSINESS

Abstract

Topicality.The modern trend of economic development is its socially-oriented focus on the basis of a circular reproduction model formation, where its ecological orientation is an important aspect. The concept of sustainable, socio-economic-ecological development is closely related to the concept of social (corporate) responsibility, and discussions about the relevance of conducting socially responsible business in the new millennium are growing every year, attracting an increasing number of scientists from various areas of economic, management and other scientific fields. The above actualizes the study of the problems of business development on the basis of their social responsibility as effective goal setting in the context of the formation of a circular economy model with the determination of the necessary conditions for its ecological development.Aim and tasks.The purpose of the study is to determine the principles of greening the development of socially responsible business based on the circular economy model. Materials and methods.The research was based on such information resources as official documents of international organizations (UN, OECD, European Parliament, World Bank), regulatory and legal acts of Ukraine, analytical materials of the State Statistics Service of Ukraine, important scientific works of Ukrainian and foreign scientists, devoted to issues of environmental responsibility of business in the context of solving the problems of sustainable development. The authors used such scientific methods as empirical (description, comparison), theoretical (analysis, synthesis, generalization) and systematic.Research results.The result of the study was the improvement of approaches to determining the imperatives of a circular model forming of the socially responsible business development in Ukraine in the conditions of post-war recovery, including the mutual influence of financial performance socio-economic growth and socially responsible business; balance of the company's goals and compliance with the principles of conducting socially responsible business; growth in the volume of the ecological products market; building a waste management system based on "prevention" of their occurrence; the formation of image and reputational benefits as a factor in attracting investments and forming a circle of loyal customers; transparency of business operations and solving the problem of market information asymmetry. In addition, proposals were developed regarding the need to support national business in the fiel of the waste management’scircular mo el, which in the conditions of martial law is unable to fully implement social initiatives on its own, indirectly through the system of tax benefits, and directly through active institutional state support based on the best international practices.Conclusion.The formation of ecological development imperatives for socially responsible business is a necessary condition for the formation of a circular economy model. At the same time, the very foundations of socially responsible business’ ecological evelopment should include, firstly, awareness of the profit maximization processas a result of the rational resources use with the creation of a positive company image, and, secondly, awareness of compliance with current legislation in terms of frugality and environmental protection. The guidelines for the further development of socially responsible business in Ukraine in the conditions of martial law and post-war recovery should be its systematic implementation and full awareness of society about the advantages of such a business model. The development of an effective strategy for conducting socially responsible business on the basis of greening in the country is envisaged with the inclusion of business representatives in its development. The result must be measurable, otherwise the implementation of the strategy will not take place. The result of the policy implementatione of conducting socially responsible business on the basis of its greening should be progressive changes in the management system and the formation of the circular economy model foundations in the country.