Global environmental, social and economic crises: Voluntary corporate activities as a possible solution

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JEL classification

• Sustainable Development
• Nonrenewable Resources and Conservation: General

Keywords

corporate sustainability reporting, Corporate governance, economic crisis, environmental crisis, social crisis

Abstract

The article deals with the global problems of mankind, which are causing environmental, social and economic crises. Another possible cause of crises is the failure of the government and management of companies (corporate governance). Based on a literature review, this article aims to define and categorize global problems and to discuss selected approaches to crisis solutions. While activities to solve crises on a macro level appear to be inefficient, the initiatives of companies will play a key role in the resolution of instability in a global system. The incorporation of sustainability into corporate governance through responsible investment, transparent reporting, corporate social responsibility, etc. should bring stability and sustainability to a global system.