Role of Corporate Social Responsibility in Sustainable Energy Development in Emerging Economy

Abstract

This research aims to evaluate the impact of corporate social responsibility (CSR) on sustainable energy development (SED) by developing the role of mediating variables such as usage of renewable energy resources (URR) and sustainable energy supply (SES). We use qualitative and quantitative technique such as Partial Least Squares Structural Equation Modeling (PLS-SEM) to analyze the data of collection from experts, economists, executives in Vietnam in 2020. The study has proved the corporate social responsibility (CSR) affecting directly to the sustainable energy development (SED). Besides, the findings suggest a positively significant impact of both sustaining energy supply (SES) and the usage of renewable energy resources (URR) on sustainable energy development (SED). Thus, the research brings the whole view of corporate social responsibility affects to the sustainable energy development (SED) through the URR and SES. This study contributed empirical work in the literature of corporate social responsibility, renewable energy, sustainable energy supply (SES) and sustainable energy development (SED). The outcomes of this study can be used by policy makers, economists, top management in the governmental office and even the corporate. A mediating role of SES as a value-added contribution to this study and can be consolidated and strengthened more in coming research.

Sustainable Development Goals (SDGs) as a Framework for Corporate Social Responsibility (CSR)

“…CSR activities may lower the costs for consumers and encourage renewable energy and energy-saving technologies. In this matter, CSR is positively related to SED [2]. CSR elevates companies' non-financial performance such as carbon footprint mitigation [153], economic development, and the avoidance of greenwashing [154,155].…”

“…Corporate Social Responsibility (CSR) can mitigate corporate damage by encouraging socially responsible, and environmentallyfriendly, actions [1]. A CSR plan establishes a strategy to support socio-economic and environmental sustainability through management and stakeholder involvement [2]. An increasingly populated planet struggling with massive climate change problems provides evidence of why businesses should not engage in CSR from a solely local context since they exist within an interconnected world.…”

CSR and fashion SMEs: Do sustainable development goals matter?

“…Businesses should not engage in CSR in a strictly local context because they operate within an interconnected global context, which is witnessed by an increasingly crowded planet coping with major climate change challenges. Short-term business activities have undeniable consequences for the environment, society, and economy, which is why CSR with a long-term view is critical for the planet's health (Yadav et al, 2020;Tiep et al, 2021).…”

Assessing the role of sustainable strategies in alleviating energy poverty: an environmental sustainability paradigm

“…Sustainable energy is the efficient use of energy throughout the entire energy system, including energy service delivery, energy transportation, energy storage, processes, and technology for converting energy resources into usable forms. Therefore, renewable energy is essential for stable and sustainable energy supply (Tiep et al 2021a).…”