Corporate social responsibility, climate action, and greenwashing risks in transition economies: an illustrative case from North Macedonia

Corporate Social Responsibility (CSR) has increasingly been positioned as a mechanism through which firms may contribute to climate action under Sustainable Development Goal 13 (SDG 13). However, in carbon-intensive and institutionally constrained contexts, CSR may also generate greenwashing risks when environmental claims exceed verifiable outcomes. Using EVN Macedonia as an illustrative case, this study applies a theory-informed, document-based analysis of publicly available disclosures to assess CSR communication within a structurally constrained energy system. Drawing on institutional theory, stakeholder theory, and the resource-based view, the analysis shows that while CSR initiatives may be socially valuable, their climate relevance depends on alignment between stated commitments, operational scope, and verifiable outcomes. In the absence of such alignment, CSR communication may create perceptions of climate leadership that are not fully supported by measurable performance. The paper contributes by proposing evaluative criteria—proportionality, verifiability, transparency, and systemic alignment—to guide the interpretation of CSR claims and by clarifying the boundary conditions under which CSR becomes credible or remains symbolic in transition economies. The findings are illustrative and inform policy discussions on strengthening accountability and disclosure in carbon-dependent and institutionally constrained settings.