Ecological awareness of stakeholders as a key determinant of ESG effects in the chain “Green Brand – Corporate Social Responsibility”

Authors

  • Tetyana Pimonenko Sumy State University
  • Oleksii Lyulyov Sumy State University
  • Inna Makarenko Sumy State University
  • Yana Us Sumy State University
  • Vikoriia Haag Sumy State University

DOI:

https://doi.org/10.35774/visnyk2023.03.026

Keywords:

sustainable development, education, ESG, brand, green marketing

Abstract

Introduction. In the modern world, where environmental issues and sustainable development are gaining increasing attention, the role of environmental awareness becomes critically important. ESG effects (environmental, social, and governance) influence business activities, investment decisions, contribute to sustainable development and social responsibility, and shape a country’s green brand. It is worth noting that stakeholders with a high level of environmental awareness play a crucial role in this process as they can influence decisions aimed at achieving environmental and social responsibility in business.

The paper aims is to determine the level of public awareness of ESG effects, the green brand, and corporate social responsibility in the context of achieving sustainable development goals.

Research methods. To determine the level of environmental awareness, a survey was conducted involving participants from various sectors and age groups. The survey was created using the Google Forms tool and conducted online.

Results. According to the survey results, the level of education has a significant impact on awareness of sustainable development goals. Respondents aged 30 to 59, who are already employed, showed a greater interest in sustainable development, indicating the importance of practical experience and participation in the business environment. Furthermore, increasing the level of education contributes to reducing indifference towards sustainable development issues, and education in higher educational institutions plays a crucial role in shaping competencies and knowledge about sustainable development, thereby increasing awareness of ESG effects, the green brand, and corporate social responsibility.

Perspectives. Despite the significant volume of scientific research related to ESG effects, the green brand, corporate social responsibility, and the achievement of sustainable development goals, it is important to provide practical justification for the impact of environmental awareness on the formation of a country’s green brand. Additionally, determining the role of education in stimulating conscious consumer behavior, participation in green innovation programs, and promoting sustainable consumption is a vital task. Future research can focus on analyzing the effectiveness of social programs and business initiatives in achieving sustainable development goals.

Author Biographies

  • Tetyana Pimonenko, Sumy State University
    D. Sc. (Economics), Associate Professor of Marketing
  • Oleksii Lyulyov, Sumy State University
    D. Sc. (Economics), Professor, Head of the Department of Marketing
  • Inna Makarenko, Sumy State University

    D. Sc. (Economics), Professor, Professor of the Department of Accounting and Taxation

  • Yana Us, Sumy State University
    PhD student, Department of Marketing
  • Vikoriia Haag, Sumy State University
    Student 4th course, Department of Marketing

References

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Published

2023-11-07

How to Cite

Pimonenko, Tetyana, et al. “Ecological Awareness of Stakeholders As a Key Determinant of ESG Effects in the Chain ‘Green Brand – Corporate Social Responsibility’”. Herald of Economics, no. 3, Nov. 2023, pp. 26-38, https://doi.org/10.35774/visnyk2023.03.026.

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