As the cornerstone of almost all economic activity across the world, the energy sector plays a vital role in the transition to sustainable business operations and living. The urgent situation of climate change has likewise increased the pressure on corporations to act in a more sustainable manner. Therefore, the purpose of this paper is to examine whether Corporate social Responsibility (CSR) performance has a positive relationship with financial performance in the European energy sector.  The data consists of 52 energy companies within the years 2015-2021 using secondary data source obtained from Refinitiv Eikon database along with companies' financial statements. To examine the relationship, we conducted a panel data analysis using both fixed and random effect model. We found that in our dataset there is no statistically significant relationship between CSR performance and financial performance.  The results lay the ground for further research and could provide insight to policymakers about the complexity of investments regarding CSR for the energy sector in Europe.