Home – Home – Jornals – Region: Economics and Sociology 2020 number 1

The article considers the role of large coal mining enterprises in the sustainable social and economic development within regions of operation, their influence on how the regional economy is managed, as well as the government’s opposing actions affecting coal business. This study is primarily based on the premise that business and public interests align in the long run. Sadly, shareholders and corporate executives are unlikely to be willing to narrow down their private interests when looking at long-term prospects. The results of our research show that the issues of accounting for the social consequences of coal mining activity by major industrial enterprises, the scope of their environmental and social impact, and their influence on the emerging public response to the activity of large corporate groups are subject to socioeconomic criticism. Virtually all coal mining companies claim to do socially responsible business, yet formal mechanisms do not confirm their statements. There is no comprehensive consideration of stakeholders’ interests, as only a few companies keep non-financial reports. Companies merging into corporate groups leads to unfair resource allocation and marginalization of coal-mining territories from the spotlight of social interest. As for establishing a uniform system of social responsibility, it is complicated by differentiated regional practices and weak public understanding. The main objective of the study is to identify mechanisms that could involve production in regional welfare and ensure positive interaction with stakeholders. It seems that such mechanisms will include both introducing and expanding public-private partnership programs, as well as legislating the duty of businesses to maintain non-financial reports, specifically for each region of operation.