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2024 | Buch

Net Zero Economy, Corporate Social Responsibility and Sustainable Value Creation

Exploring Strategies, Drivers, and Challenges

herausgegeben von: Rubee Singh, Shahbaz Khan, Anil Kumar, Sunil Luthra, Hemakshi Chokshi

Verlag: Springer Nature Switzerland

Buchreihe : CSR, Sustainability, Ethics & Governance

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This edited volume brings together contributions from multiple experts in academia to explore the practical implications of the Net Zero Economy for corporate social responsibility and sustainable value creation in today's world. As the world approaches net-zero emissions by 2050, it is crucial for businesses to take corporate social responsibility seriously and make credible attempts to achieve sustainable value creation while reducing their greenhouse gas emissions.

The book provides a comprehensive guide to navigating the complexities of corporate responsibility in the net-zero economy, drawing on the expertise of scholars in sustainable supply chain, environmental sciences, management, sustainable business management, and social sciences. With contributions from multiple experts, it examines the challenges that businesses face in reducing their climate impact and highlights the green growth opportunities that they can take advantage of in the net-zero transition. This edited volume is an essential read for students, research scholars, and industrial professionals working in sustainable development, eco-friendly business management, and corporate social responsibility.

Inhaltsverzeichnis

Frontmatter
HRM Practices in Creating Net Zero: Supporting Organizational Sustainability
Abstract
HR plays a critical role in a company’s commitment to sustainability by advocating eco-friendly policies, aligning employee values with the company’s sustainability goals, and providing staff training programs to improve knowledge about sustainable practices. HR may help the firm create net zero by evaluating its carbon footprint, defining reduction goals, and developing a sustainability plan. They can also encourage staff to adopt sustainable practices and reduce waste by minimizing paper use, utilizing energy-efficient equipment, and supporting remote/hybrid work. HR can assist firms achieve their net-zero target, reduce their environmental effect, and contribute to a more sustainable future by applying these initiatives. The aim of this book chapter is to contribute to the understanding of the HRM practices in creating net zero in order to support organizational sustainability. Furthermore, it offers an insight into usage of AI-based software in HRM, opportunities, and challenges in the digital world of work associated with AI in HRM. This book chapter will be essential reading for scholars and students of human resource management, knowledge management, organizational innovation, computer science, and information systems. It will also promote the directions to HR practitioners, organizations, and workforce.
Rubee Singh, Kamalesh Ravesangar, Sivachandran Narayanan, Kuldeep Kaur Himat Singh
Industry 4.0 Technologies’ Opportunities and Challenges for Realising Net-Zero Economy
Abstract
This study investigates the intricate range of obstacles and potential benefits linked to the transition toward a net-zero economy (NZE), driven by the urgent need to tackle climate change and foster sustainable ecology. Based on an extensive review of scholarly sources, this study scrutinizes the technological, economic, and societal challenges that ought to be addressed to attain a NZE. Most outstandingly, it emphasizes the merits of environmentally sustainable practices, the potential for economic growth, and improvements in societal well-being that can arise from this transition. It further depicts selected case studies to demonstrate sustainable empirical evidence and provides policy recommendations. The paradigm is to assist governments and other stakeholders in effectively managing human-associated challenges to attain increased sustainable value maximally. Finally, this highlights the utmost significance of tackling these challenges and capitalizing on opportunities to facilitate a sustainable, net-zero future that guarantees worldwide prosperity and ecological welfare.
Wasswa Shafik
Policy Framework and Implementation Strategies for Sri Lanka’s Transition to a Net-Zero Economy
Abstract
This chapter comprehensively explores Sri Lanka’s path towards sustainability, encapsulating various dimensions such as policy landscape and frameworks, implementation challenges and successes, international collaborations, policy implications, and future directions. It delves into Sri Lanka’s sustainability landscape by examining foundational policies, stakeholder engagement, successful implementation strategies, and challenges. Furthermore, it scrutinises obstacles in policy implementation, mitigation strategies, global collaborations, and future directions. Emphasising the goal of achieving a net-zero economy, it advocates for integrated policy frameworks, innovative financing, education-based capacity building, technological advancements, robust oversight, and prioritisation of climate resilience. These comprehensive insights provide a road map for policymakers and stakeholders, steering Sri Lanka towards a sustainable future, balancing economic progress with environmental preservation to pursue a net-zero economy.
Mananage Shanika Hansini Rathnasiri, Narayanage Jayantha Dewasiri, A. Arun Kumar
Prioritizing the Factors Leading to Carbon Footprint Neutrality in Indian Logistics Operation Toward Net-Zero Emission: An AHP Approach
Abstract
The advent of technology and economic development has led to environmental degradation on various fronts. Today’s economic development is largely driven by the efficient and effective logistics and supply chain operation which yields implicit logistics issues including wastage of the resources, carbon emission, and that of the greenhouse gases leading to climate change. The issues have gathered attention of the global community toward having a sustainable environmentally friendly distribution system that may lead toward low-carbon emission SCM and logistics mechanism. Therefore, this necessitates the model that may lead the age toward carbon neutrality. In this connotation, the study tries prioritizing the factors which plays a significant role in ensuring green logistics with low-carbon emission toward net-zero emission by using analytical hierarchy process (AHP) method. The research has been conducted along nine experts’ perception on the comparative scale for the identified criteria. The multidimensional decisive framework focuses on 5 significant criteria, i.e., operational efficiency, resource utilization and management, infrastructural efficiency, cargo handling mechanism, and logistics personnel efficiency identified aspects based on literature survey which have further expansion up to total 20 sub-criteria along which the survey has been conducted using AHP questionnaire. The AHP analysis result has come up with the empirical result providing scope for decision-making by Indian logistics firms to adopt carbon neutrality toward attainment of net-zero emission.
Sameer Shekhar, Shahbaz Khan, Sweta Leena Hota, K. K. Muhammad Najeeb
A Framework for CSR for Implementation of Net-Zero Economy Towards Enhancing Sustainable Value Creation
Abstract
This chapter focuses on the corporate social responsibility (CSR) framework in India with respect to achieving a net-zero economy. It provides an in-depth exploration of the stipulations applicable to companies in India concerning their corporate social responsibilities and addresses the ecological, social, and economic impacts of corporate operations on diverse communities. The imperative to achieve a net-zero economy is underscored by the escalating global mean temperature, wherein mere removal of an equivalent carbon amount from the atmosphere fails to offset the rise. CSR embodies a commitment by business enterprises to spearhead economic development while mitigating the adverse impacts on a minimal scale. This commitment ensures a substantial enhancement in the living standards of the workforce, their families, local communities, and society at large. Furthermore, the chapter critically examines how corporate behavior is influenced by CSR and elucidates how CSR initiatives play a pivotal role in attaining net-zero emissions. The growing environmental awareness among consumers regarding the ecological footprint of certain products compels corporations to embrace CSR obligations, to enhance the appeal of their eco-friendly products. The authors present empirical research illuminating the CSR landscape in India and its impact on achieving a net-zero economy. Startling findings reveal that despite organizations adhering to laid-down rules and regulations, there is a profound lack of awareness among the populace regarding the legal framework governing CSR. The study emphasizes the need for heightened awareness to bridge this gap and propel sustainable practices in the corporate landscape.
Jacinta Dsilva, Akash Gupta, Arushi Bajpai
Promoting Net-Zero Economy for Sustainable Development: Practice-Based View
Abstract
The present research investigates the utilization of various resources, including tangible assets, human expertise, and intangible assets, in a cohesive set of established procedures, which impact the development and implementation of net-zero practices. It also explores the effect on the environmental performance of SME enterprises operating in business markets. Additionally, the study explores whether digitalization plays a moderating role in this relationship. The samples of 291 were used in the study. Data were analyzed using partial least square structural equation modeling. For a sustainable net-zero economy (SNZE), it is essential for managers to acknowledge the importance of resource and capabilities management. While the management of tangible assets and human skills is vital, greater emphasis should be placed on intangible resources like organizational culture and learning. Furthermore, the capacity of small-sized enterprises (SMEs) to process and implement knowledge could prove to be instrumental in accomplishing net-zero targets. Consequently, managers should leverage Industry-4.0-based technological solutions to enhance resource and capabilities management effectively. This research pioneers an exploration into the influence of human capital and various assets (tangible and intangible), on the development and implementation of a SNZE in organizations, underpinned by empirical data. The study broadens the understanding of the practice-based view (PBV) framework in realizing SNZE, particularly within SME B2B enterprises.
Ankita Sharma, Mrinalini Chaudhary, Kishore Kumar, Shikha Daga
Talent Management Facilitates Net-Zero Transition Through Employee Green Behavior
Abstract
Net-zero transition calls for profound transformation. Combating climate change requires fresh initiatives and collaborative efforts. The talent management team is required to anticipate net-zero transition challenges and respond proactively by redefining talent management strategies. To manage net-zero transition, policies are required to be reformulated and to get embedded in the complete employment life cycle, right from the pre-recruitment stage to the post-retirement stage. Encouragement toward pro-environmental behavior at the workplace will facilitate this change. This chapter explored the role of talent management in achieving net-zero transition. Literature review of this chapter corroborated the fact that the talent management team can nurture and promote green employee behavior by implementing strategic policies, effectively. Potential of attracting and nurturing green-collar workforce will act as an agile change agent. This chapter attempts to present the perspective of promoting green behavior of employees through employee resource group. There is dearth of chapter on talent management and net-zero emission. Literature review has been done by exploring available scant research chapters and industry insights. Pointers suggested in this chapter can get incorporated by the talent management team to achieve net-zero transition. Setting talent management strategies will pave the pathway toward net-zero transition. A blueprint may get developed by the talent management team based on the insights of this study.
Maitri Bhushan, Rubee Singh
A Review on the Sustainable HRM Practices in Building Net-Zero Transformation: An Emerging Trend in the Workplace
Abstract
The human resources department plays a vital and essential role in a company’s commitment to sustainability. This is accomplished through various means, including advocating for eco-friendly policies, aligning the values of employees with the sustainability goals of the company, and implementing training programs to enhance knowledge about sustainable practices among staff members. Additionally, HR can assist the firm in achieving a net-zero status by evaluating its carbon footprint, establishing reduction objectives, and formulating a comprehensive sustainability plan. Furthermore, HR has the ability to encourage employees to embrace sustainable practices and reduce waste by minimizing the use of paper, utilizing energy-efficient equipment, and supporting remote or hybrid work arrangements. By implementing these initiatives, HR can contribute to the achievement of net-zero targets, reduce the environmental impact of organizations, and promote a more sustainable future. The primary objective of this article is to enhance the understanding of human resource management practices that facilitate the transformation toward net zero, thereby supporting organizational sustainability. This article will prove to be indispensable reading material for scholars and students of human resource management, knowledge management, organizational innovation, computer science, and information systems. Moreover, it will provide valuable guidance to HR practitioners, organizations, and the workforce.
Kamalesh Ravesangar, Leow Lei Ping, Sunita Pachar
Net-Zero Economy and Energy Sustainability: A Nepalese Perspective
Abstract
Contemporary energy on a global level and the surging climate impact of non-clean energy sources have dictated the transition in the direction of renewable and sustainable energy. Significant climate change, helplessness, and scarce fossil energy are wake-up calls for Nepal’s essentiality of sustainable and renewable energy administration and strategy genesis to pledge net-zero carbon emission and sustainability of clean energy. This chapter demonstrates the overview of national policy in addressing the issues of transformation from fossil energy to green energy. This study adds to domestic and global sustainable energy policies by establishing commendations alongside nationally determined contributions (NDCs) to enhance the use of different renewable energy sources.
Udgam Mishra, Mananage Shanika Hansini Rathnasiri, Narayanage Jayantha Dewasiri
Human Resource Management Practices: Facilitating Sustainable Value Creation in Organisations for a Net-Zero Economy
Abstract
Purpose: The purpose of this book chapter is to highlight the contribution of human resource management practices in improving the quality of work life (QWL) of employees acting as a driver in an organisation setting for contributing towards sustainable value creation for a net-zero economy. The research objective is to identify the HRM practices that can produce sustainable value creation for the firm in a net-zero economy through a systematic review of literature.
Methodology and Approach: For the present book chapter, a systematic approach of literature review has been adopted, and existing studies in the field of sustainable value creation and net-zero economy have been taken into consideration. A total of 24 articles are reviewed for this study.
Findings: The research work suggests that implementing certain sustainable HRM practices specifically those related to QWL will lead to enhanced job satisfaction of employees, thus contributing to sustainable value creation for a net-zero economy and enhancing the firm’s overall performance.
Practical Implications: This research work can be a great help to HR practitioners guiding them in the way to devise HRM practices that can lead to sustainable value creation in the firm, thus converging with the triple bottom-line aspect of people, profit and planet for a net-zero economy. It also poses as a guide to carry out further empirical research works related to the study area by creating a theoretical knowledge base.
Research Limitations/Implications: The study is review-based, and it focuses on one aspect of the organisation which is human resource management, and a more comprehensive study can also be undertaken considering other aspects like manufacturing, marketing and finance, to name a few.
Kamalpreet Kaur Paposa, Sukhvinder Singh Paposa, Priyanka Chibber
Investigating Barriers of Sustainable Supply Chain in Apparel & Textile Sector for Realizing Net Zero Economy: An AHP Approach
Abstract
Among the most polluting industries is the textile sector. It is mostly to blame for adverse effects such as soil, water, and air pollution. The key to combating this is putting sustainability practices into practice. This study determines the several obstacles that prevent supply chain management at various levels from implementing sustainability in Indian Micro Small & Medium Scale Enterprises (MSMEs) context for realizing net zero economy. Additionally, expert advice is sought in order to identify the important impediments. The technique of Analytical Hierarchy Process is employed to identify key barriers. It was found that “Government Policy & Regulation” is the most critical barrier of sustainable supply chain management in the area of textile industry for realizing net zero economy. The recommendations from the present research can help the managers and industry professionals working in the apparel and textile sector in their transformation toward sustainable supply chain to create a sustainable value at the end of the supply chain.
Sonal Khurana, Bisma Mannan, Sunil Luthra, Abid Haleem, Vaibhav Jain
Convergence of Blockchain, Artificial Intelligence, and Internet of Things (BlockIoTIntelligence) with Metaverse for Industry 4.0 to Realize Net Zero Economy
Abstract
Digital technologies will play a significant role in net zero transition. The Metaverse may result in significant reductions in carbon emissions. Blockchain-enabled Intelligent Internet of Things architecture with Artificial Intelligence (BlockIoTIntelligence) is verified to address current issues like centralized architecture, security, and privacy concerns, resource limitations, and a lack of training data. In light of these findings, the current study aims to investigate the effects of convergence between BlockIoTIntelligence and Metaverse (CBM) on sustainable net zero economy implementation (SNZEI). Statistical information from a survey given to a cross-sectional sample of 783 respondents in small and medium-sized enterprises (SMEs) is used to support the proposed model, which is investigated using structural equation modeling. The outcome of this study confirms the significantly positive interconnection between CBM and SNZEI. The current research makes contributions to the area by offering new perspectives for pursuing this line of inquiry together with strong empirical support, as the study on the impact of advanced technologies on SNZEI has only recently begun. Additionally, this research is a ground-breaking endeavor to provide managerial and operational pointers and offers a roadmap, at the policy degree, regarding the application of digital technologies to practitioners and policymakers, at the industrial and national levels.
Pham Quang Huy, Vu Kien Phuc
Promoting Green Innovation in India’s Industry 4.0: Paving the Way to a Net-Zero Economy
Abstract
Purpose: The COVID-19 pandemic has accelerated digitalization in Industry 4.0, influencing the uptake of green innovation in Indian industries. This has led to improved resource efficiency and a substantial reduction in environmental impact by companies, contributing to a more sustainable environment and progress towards a net-zero economy.
Objective: This research delves into the influence of digitalization on green innovation within Indian industries amid the backdrop of Industry 4.0. By scrutinizing its implications for achieving a net-zero economy, the study investigates how digital technologies foster sustainable practices and bolster companies’ competitiveness while promoting sustainable environmental stability.
Design/Methods: A quantitative survey was conducted to evaluate green innovation practices within more than 150 Indian companies spanning diverse sectors, including textiles, agriculture, automotive, and manufacturing (covering electrical and electronics, chemical, rubber, and plastic firms), as well as food and beverages. Of the companies approached, 141 provided responses. The study formulated two hypotheses to examine the environmental consequences of companies embracing green innovation practices leading towards a net-zero economy, in contrast to those that did not.
Findings: Green innovation offers multiple benefits, such as reducing environmental impact, improving resource utilization, and advancing towards a net-zero economy by introducing new products and services. However, in the digital era, there are obstacles to adopting green innovation, including high financial investments, a lack of expertise in green technology implementation, and regulatory complexities. Statistical analysis has revealed differing adoption rates of green innovation among various industries.
Results: To overcome the obstacles hindering the adoption of green innovation, it is advisable to foster collaboration between policymakers, industry associations, and companies. Working together, they can formulate effective solutions. Such recommendations entail the implementation of incentives to encourage green innovation adoption, raising public awareness about its importance, and developing industry-specific standards and regulations. By embracing these measures, a net-zero economy can be realized in the nearby future.
D. M. Arvind Mallik
Metadaten
Titel
Net Zero Economy, Corporate Social Responsibility and Sustainable Value Creation
herausgegeben von
Rubee Singh
Shahbaz Khan
Anil Kumar
Sunil Luthra
Hemakshi Chokshi
Copyright-Jahr
2024
Electronic ISBN
978-3-031-55779-8
Print ISBN
978-3-031-55778-1
DOI
https://doi.org/10.1007/978-3-031-55779-8