Social responsibility of business in the context of sustainable development

The challenges faced by humanity in recent decades have given rise to the concept of sustainable development. This concept is humanistic. It involves striking a balance between social, environmental, and economic goals. One of the tools for implementing the ideas of sustainable development is the development of corporate social responsibility practices. The article examines the essence of this phenomenon, its significance for society and business. The dependence of the development of the practices of responsible behavior of companies on the characteristics of the national institutional environment is shown. Based on this, an assessment was made of the reasons and prospects for the development of corporate social responsibility and the tools for responsible financing in Russia.