Business Ethics and Green Taxonomy in an Era that Energy Consumption and Prices Are Defined by a War: An Empirical Study in Western Macedonian Enterprises

The concept of business ethics refers to the principles and standards guiding the behavior of individuals and organizations in the business world, including ethical principles such as honesty, integrity, fairness, and responsibility. Companies which adhere to strong ethical standards are more likely to earn the trust and respect of their customers, thus achieving long-term success and sustainability. Therefore, in order to comply with the concept of ethics in business and relationships between national companies, laws apply in the term of the international trade. In this framework, green taxonomy collaborates with the business’s successful appearance, by referring to a classification system for sustainability and investments. Green taxonomy provides a framework for companies to identify and categorize their economic activities that promote their contribution to environmental objectives, such as reducing greenhouse gas emissions, conserving natural resources, and promoting sustainable development while helping investors to decide where to direct their resources and investments. This paper examines the presence of business ethics and green taxonomy in the region of Western Macedonia. The collection of primary data for conducting the quantitative survey was achieved using a structured closed-ended questionnaire. Descriptive statistics and frequencies were applied to answer the research questions. The survey provides valuable insights into the current state of green policy adoption among enterprises in Western Macedonia and highlights the potential for these businesses to adopt more sustainable practices. It seems that there is still a significant gap between the certification of ISO standards and the implementation of green policies in the surveyed enterprises in Western Macedonia. However, the results also highlight the potential for these enterprises to adopt green policies and contribute to sustainable business practices.