The Measurement of the Company Performance on CSR Principles and Standards Implementation

Corporate social responsibility today is becoming one of the key factors of business success and an attractive investment. In Russian oil and gas industry the role of CSR in the company's success is significant. Review of existing approaches, theories and reporting standards in the sphere of CSR was an opportunity to conduct a comparative analysis of CSR policies of two Russian oil and gas companies in the context of three blocks: ecological, social, economic. Based on the results of the analysis recommendations were offered for improving two groups: the general principles and specific indicators of company's CSR policies in Russian oil and gas industry. CSR policies are company's non-financial performance, nevertheless, they influence on financial performance. Thus, the proposed recommendations may be useful for companies to improve their performance.