BUSINESS INFORM JOURNAL.

УКР

ENG

Search:

REGISTRATION CERTIFICATE

KV #19905-9705 PR dated 02.04.2013.

FOUNDERS

RESEARCH CENTER FOR INDUSTRIAL DEVELOPMENT PROBLEMS of NAS of Ukraine (KHARKIV, UKRAINE)

ROR

EDRPOU 05481984

According to the decision No. 802 of the National Council of Television and Radio Broadcasting of Ukraine dated 14.03.2024, is registered as a subject in the field of print media.
ID R30-03156

PUBLISHER

Liburkina L. M.

CATALOG

European Standards of Business Ethics and Corporate Integrity as a Factor in the Growth of the Circular Economy and the Sustainable Development of Ukrainian Enterprises
Sheketa Y. Y., Kaziuka N. P., Hrytsuliak H. М., Humeniuk V. V., Levandivskyi O. T.

Sheketa, Yevheniia Yu. et al. (2026) “European Standards of Business Ethics and Corporate Integrity as a Factor in the Growth of the Circular Economy and the Sustainable Development of Ukrainian Enterprises.” Business Inform 7:96–105.
https://doi.org/10.32983/2222-4459-2026-7-96-105

Section: International Economic Relations

Article is written in English
Downloads/views: 0

Download article (pdf) -

UDC 174.4, 339.92, 502.131.1

Abstract:
This article examines the role of European standards of business ethics and corporate integrity as one of the key factors in ensuring the sustainable development of Ukrainian enterprises in the context of European integration. It is substantiated that the current transformational processes associated with Ukraine’s acquisition of candidate status for membership in the European Union, the harmonization of national legislation, postwar economic recovery, and the need to enhance the competitiveness of domestic businesses, require the introduction of modern European approaches to corporate governance based on the principles of integrity, transparency, social responsibility, and environmental sustainability. It has been found that employees’ personal ethics, professional ethics, corporate culture, and ethical leadership form a comprehensive system of corporate governance that ensures environmentally responsible corporate behavior, promotes the rational use of natural resources, compliance with environmental protection requirements, and the implementation of sustainable development principles. Particular attention is paid to examining the interrelationship between business ethics, corporate integrity, environmental protection activities, and the introduction of ESG principles, the EMAS environmental management system, the provisions of the European Green Deal, and the circular economy as key components of the modern European model of sustainable development. It has been demonstrated that the integration of European ethical standards into the corporate governance system contributes to increasing the transparency of corporate activities, strengthening investor confidence, fostering corporate social responsibility, introducing environmentally oriented managerial decisions, and building long-term competitive advantages for Ukrainian enterprises. A structural and functional mechanism for implementing business ethics standards and corporate social responsibility has been developed, reflecting the interrelationship between personal ethics, corporate culture, ethical leadership, ethical corporate governance, environmental protection activities, and the promotion of sustainable development. The practical significance of these findings lies in the possibility of applying the proposed provisions to improve corporate governance systems, develop corporate integrity strategies, introducing ESG principles and environmental management, and adapting the operations of Ukrainian enterprises to the current requirements of the European Union, which will help enhance their competitiveness and environmental responsibility and ensure the sustainable socioeconomic development of Ukraine.

Keywords: European integration; sustainable development; business ethics; corporate integrity; European Union; circular economy; ESG approach; EMAS.

Fig.: 2. Bibl.: 24.

Sheketa Yevheniia Yu. – Candidate of Sciences (Economics), Senior Lecturer, Department of Management in Information Technology, Carpathian National University named after Vasyl Stefanyk (57 Shevchenka Str., Ivano-Frankіvsk, 76018, Ukraine)
Email: [email protected]
Kaziuka Nataliia P. – Candidate of Sciences (Economics), Associate Professor, Associate Professor, Department of Management in Information Technology, Carpathian National University named after Vasyl Stefanyk (57 Shevchenka Str., Ivano-Frankіvsk, 76018, Ukraine)
Email: [email protected]
Hrytsuliak Halyna М. – Doctor of Sciences (Agriculture), Associate Professor, Head of the Department, Department of Environmental Protection Technology and Occupational Safety, Ivano-Frankivsk National Technical University of Oil and Gas (15 Karpatska Str., Ivano-Frankіvsk, 76019, Ukraine)
Email: [email protected]
Humeniuk Volodymyr V. – Doctor of Sciences (Economics), Professor, Professor, Department of Economic Theory and Competition Policy, State University of Trade and Economics (19 Kіoto Str., Kyiv, 02156, Ukraine)
Email: [email protected]
Levandivskyi Omelian T. – Doctor of Sciences (Economics), Professor, Head of the Department, Department of Finance, Carpathian National University named after Vasyl Stefanyk (57 Shevchenka Str., Ivano-Frankіvsk, 76018, Ukraine)
Email: [email protected]

List of references in article

Al Halbusi H., Alhaidan H., Ramayah T. & AlAbri S. (2023). Ethical Leadership and Employees Ethical Behavior: Modeling the Contingent Role of Moral Identity. Business and Professional Ethics Journal, 1(42), 1–31. https://doi.org/10.5840/bpej202344135
Directorate-General for Environment Eric Mamer. (2026, April 30). Five ways EMAS is helping retailers be more sustainable & competitive. European Commission. https://green-forum.ec.europa.eu/news/how-emas-helps-retailers-improve-sustainability-while-strengthening-competitiveness-2026-04-30_en
Diugowanets O., Kulinich T. & Popovych O. (2025). ESG Management as a Driver of Sustainable Transformation of Enterprises and Organizations. Ekonomika ta suspilstvo, 79. https://doi.org/10.32782/2524-0072/2025-79-103
Dziamulych M. I. & Reikin Yu. Yu. (2024). Podviinyi tsyfrovyi ta zelenyi perekhid v konteksti formuvannia stiikoi ekonomichnoi systemy [Twin Digital and Green Transition in the Context of Forming a Sustainable Economic System]. Ekonomika ta suspilstvo, 61. https://doi.org/10.32782/2524-0072/2024-61-62
European Comission. (2011). Roadmap to a Resource Efficient Europe. Brussels, Belgium. https://eur-lex.europa.eu/LexUriServ/LexUriServ.do?uri=COM:2011:0571:FIN:EN:PDF
European Comission. (2019). The European Green Deal. Brussels, Belgium. https://commission.europa.eu/strategy-and-policy/priorities-2019-2024/european-green-deal_en
European Commission. (2026). Eco-Management and Audit Scheme (EMAS): Evaluate, report, and improve the environmental performance of your organisation. European Commission. https://green-forum.ec.europa.eu/green-business/emas_en
European Commission. (2015). Closing the Loop- an EU Action Plan for the Circular Economy. European Comission, Brussels, Belgium. https://eur-lex.europa.eu/legal-content/EN/TXT/HTML/?uri=CELEX:52015DC0614
Farag M. I. (2025). Sustainability as a Management Strategy: Integrating Environmental, Social, and Governance Practices into Business Administration. Management Science Advances, 1(3), 20–44. https://doi.org/10.31181/msa31202630
Friant M. C., Vermeulen W. J. V & Salomone R. (2021). Analysing European Union circular economy policies: words versus actions. Sustainable Production and Consumption, 27, 337–353. https://doi.org/10.1016/j.spc.2020.11.001
Humen Yu. Ye. & Krauze O. I. (2024). Suchasnyi stan ta osnovni napriamy posylennia sotsialnoi vidpovidalnosti biznesu v umovakh povnomasshtabnoi viiny [Current State and Main Directions of Strengthening Social Responsibility of Business in the Conditions of Full-Scale War]. Transformatsiia biznesu dlia staloho maibutnoho: doslidzhennia, tsyfrovizatsiia ta innovatsii: monohrafiia [Transformation of Business for a Sustainable Future: Research, Digitalization and Innovation: monograph] (pp. 306–316). Ternopil: FOP Palianytsia V. A.
Kolupaieva I. & Lindahl M. (2025). Policy recommendations for building a circular Ukraine. Journal of Cleaner Production, 492, 144835. https://doi.org/10.1016/j.jclepro.2025.144835
Kulinich T., Nahornyi V. & Ruban O. (2025). Innovative Approaches to Sustainable Development: Ecological Startups and Green Technologies. Ekonomika ta suspilstvo, 72. https://doi.org/10.32782/2524-0072/2025-72-6
Mohdari, Masrani N. & Elliyana E. (2025). Integrating Green Management and Economic Development: The Role of Esg Strategies in Regional Sustainability. Journal of Production, Operations Management and Economics, 1(5), 78–92. https://doi.org/10.55529/jpome.51.78.92
Orlova K. Ye. & Biriuchenko S. Yu. (2022). Etyka biznesu yak obiekt naukovoho doslidzhennia [Business Ethics as an Object of Scientific Research]. Ekonomika, upravlinnia ta administruvannia, 1, 76–82. https://doi.org/10.26642/ema-2022-1(99)-76-82
Pavlikha N. V. (2024). Vprovadzhennia ESG ta korporatyvnoi sotsialnoi vidpovidalnosti u konteksti tsyrkuliarnoi ekonomiky: monitorynh efektyvnosti ta problemy prozorosti [Implementation of ESG and Corporate Social Responsibility in the Context of Circular Economy: Performance Monitoring and Transparency Issues]. Ekonomika ta suspilstvo, 68. https://doi.org/10.32782/2524-0072/2024-68-22
Reikin V. S., Naidiuk P. V. & Chernia V. V. (2024). Etychni ta instytutsionalni aspekty kultury biznesu [Ethical and Institutional Aspects of Business Culture]. Ekonomika ta suspilstvo, 65. https://doi.org/10.32782/2524-0072/2024-65-16
Semenchenko A. V., Semenchenko A. V. & Achkasova O. V. (2025). Osoblyvosti dilovoi etyky v umovakh intehratsii do YeS [Features of Business Ethics in the Conditions of EU Integration]. Ekonomika ta suspilstvo, 74. https://doi.org/10.32782/2524-0072/2025-74-44
Semyhulina I. B. & Yaroshenko I. V. (2026). Perspektyvy planuvannia ta formuvannia stratehichnykh priorytetiv rozvytku ukrainskoho biznesu na zasadakh stalosti, «zelenoho» perekhodu ta innovatsiinosti [Prospects for Planning and Forming Strategic Priorities of Ukrainian Business Development on the Principles of Sustainability, 'Green' Transition and Innovation]. Biznes Inform, 4, 8–17. https://doi.org/10.32983/2222-4459-2026-4-8-17
Shevchuk V. O. & Strilok I. I. (2023). Etychni imperatyvy mizhnarodnoho biznesu v konteksti yevrointehratsii Ukrainy [Ethical Imperatives of International Business in the Context of Ukraine's European Integration]. Economic Synergy, 2, 105–114. https://doi.org/10.53920/ES-2023-2-8
Smiesova V. L. & Chechel Ye. S. (2025). ESG-pidkhid yak osnova staloho rozvytku mizhnarodnykh korporatsii [ESG Approach as the Basis for Sustainable Development of International Corporations]. Ekonomichnyi visnyk Dniprovskoho tekhnolohichnoho universytetu, 4, 195–206. https://doi.org/10.33271/ebdut/92.195
Sotnyk V. V., Hohulia O. P. & Voskolupov V. V. (2025). Dilova etyka yak instrument formuvannia korporatyvnoi kultury v systemi menedzhmentu pidpryiemstv v umovakh hlobalnoi nevyznachenosti [Business Ethics as a Tool for Forming Corporate Culture in the Enterprise Management System under Conditions of Global Uncertainty]. Biznes Inform, 11, 447–455. https://doi.org/10.32983/2222-4459-2025-11-447-455
Umar Z., Kenourgios D. & Papathanasiou S. (2020). The static and dynamic connectedness of environmental, social, and governance investments: International evidence. Economic Modelling, 93, 112–124. https://doi.org/10.1016/j.econmod.2020.08.007
Zarichna O. V. & Zelich V. V. (2022). Etyka biznesu v umovakh yevrointehratsii [Business Ethics in the Conditions of European Integration]. Naukovyi visnyk Uzhhorodskoho natsionalnoho universytetu. Seriia «Mizhnarodni ekonomichni vidnosyny ta svitove hospodarstvo», 44, 36–40. https://doi.org/10.32782/2413-9971/2022-44-6