APPLIED ASPECTS OF SUSTAINABLE DEVELOPMENT OF THE COMPANY

Abstract

Sustainable development is becoming a global trend of the XXI century. Business is increasingly involved in achieving sustainable development goals. Exploring and disseminating of best practices on sustainability will help Ukraine meet its international obligations to achieve sustainable development goals. The research is based on the use of the case method and is devoted to the study of more than a decade of experience in sustainable development of the international corporation CRH, which owns a controlling stake in seven corporations of mining and construction in Ukraine. According to national statistics, the extractive industry and quarrying ranks 3rd in terms of air pollution, so active involvement in strengthening sustainability is relevant. The main directions, practices, measures of sustainable development of the company are determined. A study of the dynamics and costs structure for 2009–2019. It was found that the company’s sustainable development costs amounted to 3.0–8.5 million euros per year during the analyzed period, which averages 0.04–0.05% of its operating profit. The company’s commitments, challenges and achievements in terms of sustainable development goals are described. The basic elements of strategic and tactical planning of realization of the purposes of sustainable development by the company, their realization are defined. It was found that economic, social and environmental sustainability indicators are built into the company’s business model and are determined throughout the value chain. The company practices identifying potential sustainability risks for effective risk management. All work with stakeholders, especially suppliers, is based on compliance with sustainability criteria. Innovative projects implemented by the company are examined for environmental and social safety, and production is based on compliance with relevant international product quality standards. It is important that CRH cares about creating public value for positive change and supporting local communities through active cooperation with suppliers, governments, industry bodies. Positive elements of the company’s experience require further study and implementation of domestic enterprises.