Climate Change Adaptation Strategies for Achieving Net-Zero Economy

Title

Climate Change Adaptation Strategies for Achieving Net-Zero Economy

Creator

Kumar K.; Singh R.; Sharma A.; Lehri B.P.S.

Description

Today, net zero economy is garnering lot of interest as climate change concerns have become one of the most pressing issues for the organizations. The negative impact of climate change (CC) could be witnessed across all industries. The direct risk (i.e. impairment cost, damages, forced closure from extreme weather events) and indirect risk (i.e. disruption in the business value chain, loss of infrastructure, etc.) emanating from CC has severely impacted the business model of the companies. It is important for companies to address climate challenges in their core business model and take climate action for achieving net zero economy. The aim of this study is to explore the impact of various organizational factors on the climate change adaptation strategies (CCAS) of manufacturing companies in India. The data was collected from 241 respondents and structural equation modelling (SEM) through Smart PLS 3.0 was employed for analysis in the study. Results indicated that corporate knowledge, processes, objectives, financial resources, collective knowledge, and incentives significantly influence the CCAS for the companies. The findings provide valuable input to the managers, practitioners, and other stakeholders interested in promoting climate actions and achieving a net zero economy. This chapter contributes to the extant literature in the field of corporate CC strategies and actions. The Author(s), under exclusive license to Springer Nature Singapore Pte Ltd. 2024.

Source

Approaches to Global Sustainability, Markets, and Governance, Vol-2024, pp. 163-183.

Date

2024-01-01

Publisher

Springer

Subject

Carbon emissions; Carbon neutrality; CC adaptations; Collective knowledge; Developing economies; Environment management system; Global warming; Net zero; Sustainable development

Coverage

Kumar K., School of Management, Bennett University, Greater Noida, India; Singh R., Institute of Business Management, GLA University, Uttar Pradesh, Mathura, India, Department of Management Studies, Kumaun University, Uttarakhand, Nainital, India; Sharma A., Christ University, Bengaluru, India; Lehri B.P.S., University School of Business, Chandigarh University, Mohali, India

Rights

Restricted Access

Relation

ISSN: 25208772

Format

Online

Language

English

Type

Book chapter

Identifier

https://doi.org/10.1007/978-981-97-5756-5_8

https://www.scopus.com/inward/record.uri?eid=2-s2.0-85209125657&doi=10.1007%2f978-981-97-5756-5_8&partnerID=40&md5=f553ce95cdf57cb45a8d4281e69b40cc