Analysis of the Communication of Social Responsibility by Energy Companies in Romania

Abstract

Abstract The awareness towards global changes has increased in recent years and has created pressure for energy providers to improve not only their activity but also the way they communicate their actions, initiatives and commitments and how they report them to the general public. Recognizing this imperative, in January 2022, the European Commission proposed the Corporate Sustainability Reporting Directive (CSRD) to revise and strengthen the existing Non-Financial Reporting Directive (NFRD). With the CSRD's help, sustainability reporting is getting a significant improvement. Now, everything is more transparent and matches up better than other reports created before because it was built around transparency first. This means way less guesswork for anyone needing this information whether it is an investor trying not to worry about their next big decision, consumers, or regulatory bodies. We analyzed the top 15 entities in the electrical energy production sector in Romania, based on their turnover reports at the end of their financial activities for 2022, and we wanted to find out how they articulated and showcased their commitment to social responsibility through their websites and non-financial reports. By examining these reports closely, we uncovered layers of commitment across different sectors from ESG pillars (environmental, social, and governance) – how businesses dedicated to sustainable growth and interacted with stakeholders and by looking closely at these reports, the analysis is not only a point of reference for industry practices but also a better understanding of social responsibility in the specific context of the energy sector.