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• ESG regulation and what lies behind it - opportunities and challenges in preparing businesses for ESG in Hungary

  Orsolya Szendrey

  Gábor Bányai

  Mihály Dombi

  Judit Futó

  Dávid János Gulyás

  Andrea Karcagi-Kováts

  Piroska Harazin

  Views:

  29

  On 12 December 2023, the Parliament adopted the proposal on the rules of corporate social responsibility (CSR) and other related laws to promote sustainable financing and unified corporate responsibility (ESG Act). Companies subject to the Act will gradually have to comply with several qualitative and quantitative requirements, which will pose significant challenges for market players and regulators monitoring their operations. This paper aims to review how the gradual extension of the scope of the Act will affect market and industry players, highlighting the opportunities and challenges for stakeholders in meeting regulatory requirements in environmental, corporate governance and social matters.

• Nexus between Corporate Social Responsibility Practices and Sustainable Livelihood in Nigerian Oil and Gas Production Region

  71-87

  Stephanie Mbateman Chondough

  Views:

  300

  Oil and Gas remains the backbone of the Nigerian economy as it constitutes a major revenue source for the government. However, host communities have not felt the effect of carrying the financial burden of the nation. The heavy reliance on the oil sector has crippled instead of enhanced the environmental and social conditions of the host communities. This study examines the nexus between CSR practices and sustainable livelihood in the Nigerian oil and gas production region using secondary data. The study concludes that oil firms have underperformed within the scope of the usage of CSR to mitigate environmental and social concerns. Attention should be drawn to the peaceful coexistence of the oil firms and the community members in the affected region. CSR initiatives, together with government interventions, will greatly improve the livelihoods of the people. It is recommended that oil firms recognize their obligations to all stakeholders, the environment and the expectations of the host communities and establish a relationship that will foster a working partnership for community development and peaceful coexistence.

  JEL Code: M14, Q35, Q56

• Examination of Management of TESCO Hungary's sustainability and community activities

  24-48

  Judit Tessényi

  Norbert Katona

  Views:

  162

  In their fifth sustainability management case study, the authors examine the focus, organizational processes, and operation of TESCO's responsibility and community activities in Hungary. On the one hand they executed analyses of publicly available company reports and internal documents, while on the other hand, they conducted semi-structured interviews with internal and external experts who play a key role in the added CSR activities. In addition to the descriptive presentation of the activities, the authors' work points out that there are many crutial organizational conditions for the effective management of organizational processes related to sustainability and communities, furthermore they highligted the possibilities and limitations of involving external parties and service providers, as well. The value of the case study is enhanced by the fact that no comprehensive case study presenting the sustainability activities of the leading domestic food retail companies has been published recently.

  Journal of Economic Literature (JEL) codes: A13, D6, F6, M14, M19, M38