Business Responsibility and Sustainability Essay

Business Responsibility and Sustainability - Essay Example However, research shows that most of the developing and emerging economies trend towards CSR activities. It proved to create a sustainable development because of pressing Environmental and Social Governance (ESG) issues. Compared to developed countries, they have demonstrated to have improved environmental and social management. For this reason, international initiatives came up to help support CSR in SMEs companies in emerging markets. The efforts help the developing companies since they are the motivating force for the evolving market economy (Hopkins, 2007). The other main reason developing countries engage CSR is mainly for defensive and proactive. For the defensive purpose, the country minimizes the probable hostile effects of CSR on the local communities and the environment. On the other hand markets most businesses of the nation through global supply chains and investment. Governments of most of the major middle-income countries such as Russia took most of the initiatives to guarantee that CSR performed targets the country’s economic and social interests (Hopkins, 2007). CSR enhances developmental benefits to the developing country. To start with, it promotes social development and protection of the environment. With encouraging most companies to enact in activities such as waste disposal or planting of trees, the community profits from a healthy and well-maintained environment. On the other hand, the business gains popularity and brand name becomes known rising on the global economic charts (Belal, 2008). CSR improves the relationship between countries, especially in cases where one country is investing in the other country. Both the two countries come up with commercial legislations favoring both the likes of the importer and the exporter. , it helps boost global trade from nation to the nation especially for neighboring countries such as Russia and Belarus (Hickey, 2010). However, negatively, the CSR agenda at some