The legal dimensions of corporate social responsibility in Europe: how should Latvia improve?

Abstract

Latvia currently has little to no corporate social responsibility principles implemented in its legal framework. While the European Union is actively developing its policies, recommendations and guidelines, Latvia simply does not have the capacity to implement such changes. In comparison, countries like Sweden and Germany are European leaders in sustainability and social responsibility questions. These countries have implemented nearly all European Union principles with slight variations in each country. The things that bind them are local sustainable development goals, constant improvement, focus on human rights and all the connected subtopics of human rights, as well as non-financial reporting. The ultimate aim of this study was to determine the factors that impact corporate social responsibility policy development on a national level and what could be improved in the Latvian legal framework regarding corporate social responsibility.