Abstract: Creating shared value (CSV) is a newly introduced
concept whose essence and expressions, relationship to Corporate
social responsibility (CSR) and implications for the business and
society is now at the core of management and social responsibility
debates of the scientific world. The aim of the paper is to gain clearer
understanding of the CSR and CSV concepts, their implementation
and role in sustainable development of organizations in Latvia. In this
paper the authors discuss and compare the two conceptsand, based on
the results of Sustainability Index (SI) initiative and analysis of
publically available company information, evaluate their
implementation in Latvia and draw conclusions on the development
trends and potential of these approaches in Latvian market.