Romania’s corporate social responsibility non-transparent (study)

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According to the 24/7 study on corporate transparency in the four Central and East European countries conducted by Braun & Partners Network, Romania is facing a lack of transparency in corporate social responsibility.

The methodology of the study assessed the performance and communication of social responsibility and was applied to the most profitable companies in Romania, Hungary, Bulgaria and Poland. In Romania’s case, the study encompassed the leading 25 companies in the ranking of the ‘Top 100 most valuable companies in Romania’ published by daily Ziarul Financiar.

The study conducted in the region placed Hungary on top, followed by Polish companies; for Romania and Bulgaria, the study found corporate social responsibility communication practices are lacking.

The results show that the Romanian companies, which scored in average 17 percent at performance, are in the first development stage of socially and environmentally responsible operations.

Romania’s Petrom scored highest, that is 47.9 percent in the „Top 100 companies in the region,’ ranking 14th in the Top Corporate Social Responsibility 24/7 20 companies, followed by Orange Romania, with a score of 43.8 percent.

Of the seven rated areas, Romanian companies scored lowest on economic responsibility, human resources and the company’s relationship with the parties involved.

The study also revealed that Romanian companies have commercially well-developed websites, which however do not provide information on programs dedicated to co-interested parties, relations with suppliers or contain just incomplete information about human resources.

Social reporting in compliance with Global Reporting Initiative international standards is not yet a habitual practice in the local corporate social responsibility culture.

The regional study CSR 24/7 Top100 companies published by Braun & Partners Network comprises the Top 20 companies by revenues, and uses the websites of the studies companies as information source.

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