The object of this study is the process that forms conceptual foundations for managing the impact of virtual water deficiency risks on the global food crisis. The main idea of the study focuses on determining the consequences of the global food crisis in the world under the influence of a significant reduction in virtual water exports from Ukraine to agri-food markets. It is determined that most likely, in the context of the replacement of Ukrainian exports of grain and agricultural products as a result of Russian aggression in Ukraine, the countries of the world will resort to new ways of obtaining effective imports of virtual water from other countries. The study proved that rapid structural changes in the economies of the countries of the world and the reorientation of their national economies towards the development of the agricultural sector under modern conditions of global uncertainty would inevitably lead to certain consequences. Namely, either to the fall in the growth rate of national economies, or to the state of the "bifurcation explosion" with the subsequent dispersion of possible states of development. The proposed scientific and methodological approach to assessing the sustainability of the systemic development of the territory over time for water-intensive regions makes it possible to take calculated decisions at the national level regarding the scale and prospects for the development of economic activities in the state. The described theoretical and methodological foundations of the interdependence of water and food security and the developed fundamental provisions of the economies of countries under the conditions of the global food crisis and the risk of a shortage of virtual water will create the following opportunities. Specifically, they enable state authorities to assess the depth of the specified crisis in the world and its consequences for all countries in 2022–2023. Such an understanding creates the conditions for making effective decisions on the volume of import of virtual water in a particular country
Russian war against Ukraine turns to challenge for the whole world. The full scope of consequences is difficult to assess now, but some of them have been already clear. As a result, the world economy is under exposures of inflation, disruptions on GDP growth, food and energy crises and further supply-chain pressures. Energy prices volatility adds uncertainty to the whole system of socio-economic relations. Energy turns to weapon against the world stability. The paper concentrates on the idea that current situation in the energy sector calls for a prompt reaction on challenges, including war consequences. That, in turn, requires sustainable and responsible investment (SRI) and financial innovations for immediately energy transformation, which is an essential element for sustainable competitiveness of countries. It is also crucial not to lose a track for net zero emissions by 2050. Such investment which combines financial goals with ecological, social and governance issues are covered by umbrella term “sustainable investment”. Sustainable investment became a strong trend on global financial market, which is popular with institutional and private investors. Investment in renewable energy is a part of SRI and countries’ sustainable competitiveness depends on the SRI volumes. The research is aimed at studying interconnection between SRI and energy transformation on the way to sustainable competitiveness. The processes on the global energy market are investigated and main weak points which are sources of risks for the world economy are defined. Three significant energy-related weak points turned into risks for the world are highlighted: the level of dependency from imported gas (for European countries dependency from Russian gas in particular); energy prices volatility; energy structure (nonrenewable vs renewable). It is generalized governmental approaches in the sphere of energy transformation driven by a combination of energy security concerns and climate ambitions. The paper contains an assumption about correlation between SRI and countries’ sustainable competitiveness. This hypothesis is confirmed using correlation analysis (biserial correlation) for five countries (Germany, the USA, Canada, Australia and Japan). Strong relationship between these variables is shown. This allows to make conclusions that increasing of SRI volumes in general and clean energy projects in particular, are predominant conditions for the sustainable competitiveness of country, which is oriented to the long-term prospective and based on effective usage of all available sources, including energy, fast transformation of energy systems to the renewable sources.
The role of business in society is extremely important. Business responds to urgent problems and falls under socio-political influence. As a result, conceptual approaches to corporate social responsibility are dynamic, lively and actively developed under the influence of many factors, including public expectations. The article considers the development of corporate social responsibility concept in the period from the 1950s to the present. The theoretical analysis provided an opportunity to single out the differences in the target orientation of corporate social responsibility in the conceptual approaches of outstanding scientists to this issue. The study uses a chronological systematic approach to the evolution of conceptual approaches to corporate social responsibility. Due to the dynamism of the corporate social responsibility conсept, the study of its features at different stages is extremely relevant. The concept of corporate social responsibility is associated with a wide range of issues: motivation of companies to be socially responsible, groups of stakeholders on which companies are guided, incorporation of social responsibility into company strategies, performance of socially responsible initiatives, regulation of responsible behavior by society («soft») and by the state, etc. The obtained results allow to make conclusion that the scope of social responsibility has expanded over time: from the overwhelming focus on the company’s employees to a wider group of internal and external stakeholders and even the planet in general. Because global problems make the sufficient impact on the modern approach to the corporate social responsibility.
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