Corporate Social Responsibility,Environmental Sustainability, and Theory of Reasoned Action: An Overview

International Journal of Economics and Management Studies

© 2019 by SSRG - IJEMS Journal

Volume 6 Issue 5

Year of Publication : 2019

Authors : Mfon S. Jeremiah, Raphael S. Etim

10.14445/23939125/IJEMS-V6I5P116

How to Cite?

Mfon S. Jeremiah, Raphael S. Etim, "Corporate Social Responsibility,Environmental Sustainability, and Theory of Reasoned Action: An Overview," SSRG International Journal of Economics and Management Studies, vol. 6,  no. 5, pp. 102-112, 2019. Crossref, https://doi.org/10.14445/23939125/IJEMS-V6I5P116

Abstract:

The purpose of this paper was to examine the nexus of approaches to CSR practices with external factors, particularly in less developed countries. In the last two decades, there has been a significant policy change in several organisations particularly in mining, and oil and gas industries that attempt to address socio-environmental problems using corporate social responsibility (CSR) initiatives. Voluntarism is at the centre of the CSRdebate presently. Its non-mandatory approach makes it popular among firms, governments and global development actors. However, commitment to its implementation and how such voluntarism approach leads to CSRcontribution to social and environmental sustainability differs greatly among developed and less developed countries. The fact is that behind voluntary action is an intention to take the action, and such intention is stimulated by external factors.In the context of environmental sustainability, these external factors are strong legal and accountability systems.The authors believe that, voluntary CSR approach is almost incapable of enabling the envisaged environmental sustainability in developing countries given the persistent weak legal system and business pursuit of corporate profits at the detriment of the local environment. Therefore, we use theory of reasoned action (TRA) to propose that environmental accountability mechanism isnot only capable of influencingmanagers of multinational corporations’ intention to improve their environmental behaviour but can also fast-track performance of such intentions in the absent of strong legal system.

Keywords:

Voluntary CSR, accountability approach to CSR. environmental accountability, environmental sustainability, theory of reasoned action

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