The Directive 2014/95/EU – Is there a “New” Beginning for CSR in Romania?

• Main Author: Ogrean Claudia
• Format: Article
• Language: English
• Published: Sciendo 2017-04-01
• Series: Studies in Business and Economics
• Subjects: csr practices; csr reporting; directive 2014/95/eu; romania
• Online Access: https://doi.org/10.1515/sbe-2017-0011

The global commandments of sustainable development, assumed and translated by the EU into a series of communications and resolutions, have found themselves a new (and more powerful) expression into the “Directive 2014/95/EU (…) as regards disclosure of non-financial and diversity information by certain large undertakings and groups”; in order to increase the transparency of their sustainability-related actions and results, these companies need to report (starting from 2018, by referring to the financial year 2017) information “relating to, as a minimum, environmental, social and employee matters, respect for human rights, anti-corruption and bribery matters”. As regards the Romanian companies, although they have had a relatively delayed start in terms of embracing CSR initiatives and practices (and SCR reporting respectively), the Directive 2014/95/EU could represent a great opportunity for diminishing the gap – if properly internalized and strategically operationalized. The paper aims to perform a strategic diagnosis analysis on the CSR practices and CSR reporting in Romania, on the threshold of the Directive 2014/95/EU enforcement, in order to make an effective prognosis on its consequences and impacts.