Integrating Corporate Social Responsibilities in the Energy Industry that Raises Living Standards and Stimulates SME's Development

Abstract

The situation in the World is changing rapidly and the energy industry is not an exception. Limited natural resources, alternative resources, EU regulations are new technology development which are just a few factors that modern society and different countries are facing. There are many challenges that are coming in the near future. The article starts the discussion about the present situation and compares the energy sector in different countries, highlights the main challenges countries are facing and proposes a possible solution for improving the situation. The article will focus on three main parties involved in the energy industry and their interaction: 'government and the public may be considered as the key players but equally important are enterprises.' In addition: Corporate Social Responsibility will be discussed as an effective tool to accomplish a harmonic coexistence between local community, enterprises and the public. The article presents secondary data research using literature review and presents an analytical type of research.