The article provides an analysis of the historical development and the formation of monotowns, examines the signs of the specificity of monotowns, the classification of different types of development of monotowns. There isthe concept of corporate social responsibility. It examines the concept of corporate social responsibility of business, its functions, structure and its influence on the development of economy, society and the local community. There is the descriptionof the benefits of running a socially responsible business and the use of the concept of corporate social responsibility. There is the classification of examples of investments for implementation of programs of corporate social responsibility. It outlines a hypothesis of the mechanisms on the basis of corporate social responsibility and concepts of ethical business practice to ensure social and economic sustainability of monotowns.