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Social Responsibility of Firms and the Impact of Bio-Economy in Intelligent Use of Renewable Energy Source

Author

Listed:
  • Mihai Andronie

    (Spiru Haret University, Bucharest, Romania)

  • Violeta-Elena Simion

    (Spiru Haret University, Bucharest, Romania)

  • Elena Gurgu

    (Spiru Haret University, Bucharest, Romania)

  • Adrian Dijmãrescu

    (University of Medicine and Pharmacy ”Carol Davila” Bucharest, Romania)

  • Irina Dijmãrescu

    (Emergency Clinical Hospital for Children ”Grigore Alexandrescu” Bucharest, Romania)

Abstract

Through its whole set of activities related to the invention, development, production and use of biological products and processes, bio-economy contributes significantly to the economy and to the progress of society by improving the sustainability of health, nutrition, energy efficiency, industry, environmental protection and human well-being in general. In this study, by creating an overview of the efficiency of renewable energy sources, in the context of sustainable resource management for preserving a healthy, diverse and resilient ecosystem, the research aimed to show the unused renewable energy sources at maximum potential in Romania, what are the reasons for their non-use, what are the opportunities and what are the solutions that can be adopted for the exploitation of these types of renewable energy sources in Romania. In the European Union, geothermal energy has already been well exploited and, in the future, will no longer make a significant contribution to increasing the productivity of renewable energies. Eurostat data was collected and processed using a linear regression model on the primary production of renewable energy in Romania and the rest of the European states for a period of 11 years (2005-2016); at the same time, statistical forecasts were made for the years 2017 and 2018 and was pursued to what extent social responsibility activities of companies is in line with the principles of bio-economy. In Romania, there is a very high potential for both geothermal energy that is insufficiently exploited to date and for the transformation of municipal waste into energy. It also explores the possibility of using intelligent information systems to optimize the exploitation of renewable energy sources. An important role in this effort is made by companies that, by adopting a Social Responsibility Code (CRS), can bring not only benefits, but also create a positive image with favorable consequences for all parties involved.

Suggested Citation

  • Mihai Andronie & Violeta-Elena Simion & Elena Gurgu & Adrian Dijmãrescu & Irina Dijmãrescu, 2019. "Social Responsibility of Firms and the Impact of Bio-Economy in Intelligent Use of Renewable Energy Source," The AMFITEATRU ECONOMIC journal, Academy of Economic Studies - Bucharest, Romania, vol. 21(52), pages 520-520, August.
    • Handle: RePEc:aes:amfeco:v:21:y:2019:i:52:p:520
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    References listed on IDEAS

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    Cited by:

    1. Nathalie Gröfke & Valérie Duplat & Christopher Wickert & Brian Tjemkes, 2021. "A Multi-Stakeholder Perspective on Food Labelling for Environmental Sustainability: Attitudes, Perceived Barriers, and Solution Approaches towards the “Traffic Light Index”," Sustainability, MDPI, vol. 13(2), pages 1-23, January.
    2. Le Thanh Tiep & Ngo Quang Huan & Tran Thi Thuy Hong, 2021. "Role of Corporate Social Responsibility in Sustainable Energy Development in Emerging Economy," International Journal of Energy Economics and Policy, Econjournals, vol. 11(2), pages 172-186.
    3. Vítor Domingues Martinho & Paulo Reis Mourão, 2020. "Circular Economy and Economic Development in the European Union: A Review and Bibliometric Analysis," Sustainability, MDPI, vol. 12(18), pages 1-25, September.
    4. Sanz-Hernández, Alexia & Jiménez-Caballero, Paula & Zarauz, Irene, 2022. "Gender and women in scientific literature on bioeconomy: A systematic review," Forest Policy and Economics, Elsevier, vol. 141(C).
    5. Elena-ClaudiaSerban & Anca-Maria Hristea & ?tefania-Cristina Curea & Raluca-Florentina Cretu, 2020. "Sustainable Universities, from Indifference to Joint Action – A Panel Data Analysis," The AMFITEATRU ECONOMIC journal, Academy of Economic Studies - Bucharest, Romania, vol. 22(54), pages 376-376, April.
    6. Venugopal Prabhakar Gantasala & Swapna Bhargavi Gantasala & Trinh La, 2022. "Influence of motivation on achieving energy sustainability: mediating effects of decision-making," Environment Systems and Decisions, Springer, vol. 42(4), pages 626-636, December.
    7. Wadim Strielkowski & Elena Tarkhanova & Natalia Baburina & Justas Streimikis, 2021. "Corporate Social Responsibility and the Renewable Energy Development in the Baltic States," Sustainability, MDPI, vol. 13(17), pages 1-18, September.
    8. Abbas, Shahbaz & Rao, Abdur Rehman Bin Nasir & Khattak, Farrukh & Ahmad, Yasir, 2024. "Revolutionising sustainability using a new triplet: A system dynamic model," Ecological Modelling, Elsevier, vol. 492(C).

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    More about this item

    Keywords

    social responsibility; bio-economy; natural resources; sustainability; intelligent use of resources;
    All these keywords.

    JEL classification:

    • C2 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables
    • M30 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Marketing and Advertising - - - General
    • O3 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights
    • Q56 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Environment and Development; Environment and Trade; Sustainability; Environmental Accounts and Accounting; Environmental Equity; Population Growth

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