Financial and economic aspects of corporate social responsibility

The article shows the importance of corporate social responsibility (CSR) in ensuring sustainable development of the country. The types of CSR and its features in various states are considered. The author describes the economy of the Russian Federation and its impact on the system of corporate social responsibility in the country. The high profitability of resource-extractive industries and their use of the country’s national wealth defines their special role in CSR not only towards their employees through wages and the allocation of social benefits from profit, but also to the society. It is shown that the established country’s political system significantly influences the possibility of implementing a system of corporate social responsibility. The author characterizes the significant regulatory and stimulating role of the state in social development through taxation and the structure of government spending. When assessing the financial conditions of CSR, the author analyses the impact of capital outflow on its development. Corporate social responsibility also includes the responsibility of organizations to the environment. The author provides a rating assessment of Russian oil and gas, mining and metallurgical companies openness in terms of environmental responsibility