One of the most important indicators of companies’ activity is Corporate Social Responsibility (CSR). It usually affects the companies’ activity by using environmental, social, and governance ratings. Considering this fact, the author tried to explore how the ESG scores affect the corporate social responsibility of different Armenian companies. The research objective is to examine the development of ESG scores in Armenian industries. The author tried to realize this by examining how ESG scores improve society’s, shareholders’, and stakeholders’ lives. This is more problematic in developing countries where ESG scoring is still a relatively new area when evaluating companies’ activity (Giese et al. The Journal of Portfolio Management 45:69–83, 2019). The author conducted a comparative analysis of several indicators for 11 companies from eight different industries in Armenia: descriptive statistics, evolution of ESG scores over time, and correlation of ESG scores. By doing this, the author formed a better overall imagination about the factors influencing companies’ CSR and explored the main differences and similarities between these factors. As a result, the author found significant differences and similarities in Armenian companies’ CSR indicators. It is also apparent that in more industries, environmental and social indicators are significantly different, and the governance indicator, the opposite, shows equal means. At the same time, there are no apparent patterns, differences, or similarities between researched Armenian industries.