CSR Effectiveness in Hydro Electric Projects: Public vs Private Sector Insights

Abstract

The socio-environmental impact of hydroelectric initiatives, which are essential for sustainable energy production, is significantly influenced by Corporate Social Responsibility (CSR). This study compares the efficacy of corporate social responsibility (CSR) initiatives in hydroelectric programs between the public and private sectors. It is the objective to evaluate and compare the CSR strategies implemented by public and private entities, with a focus on their impact on stakeholder satisfaction, environmental sustainability, and local communities. The research employs a mixed-methods approach, with a total sample size of 150 hydroelectric initiatives. Quantitative surveys are implemented to evaluate the perceptions and outcomes of corporate social responsibility (CSR). The primary focus of data acquisition is the assessment of corporate social responsibility (CSR) initiatives, their implementation processes, and the tangible advantages that local communities and the environment perceive. The analysis contrasts the CSR strategies of selected public and private hydroelectric projects to identify their distinct practices and effectiveness. The results indicate that, despite the fact that both sectors are dedicated to corporate social responsibility (CSR), their methodologies and results exhibit substantial disparities. Public sector initiatives frequently prioritise compliance and the well-being of the entire community, which leads to moderate but consistent community benefits. In contrast, private sector initiatives frequently implement more innovative and focused corporate social responsibility (CSR) strategies, which can result in increased stakeholder satisfaction but occasionally restrict community engagement. The study concludes that a balanced approach that incorporates the assets of both sectors is necessary to optimise CSR effectiveness. This approach should focus on the development of customised strategies that address the specific requirements of the community while simultaneously ensuring overall sustainability and stakeholder engagement.