Factors Impacting Adoption of Climate Change Mitigation Strategies in the Indian Iron and Steel Industry

Factors Impacting Adoption of Climate Change Mitigation Strategies in the Indian Iron and Steel Industry

DOI: 10.4018/978-1-6684-9863-7.ch011
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Abstract

This chapter provides an insight on the factors critical to the adoption of climate change mitigation strategies (CCMS) in the Indian iron and steel industry (IISI). The authors identified key factors and the relationship between them to develop a systems approach in prioritizing climate change mitigation strategies in energy intensive (coal dependent) iron and steel plants. The analysis took into account the benefits of a multi-criteria decision making tool, TISM framework, in particular to model the value and extent of cross-sectoral connections, balance conflicting needs, and identify solutions to achieve financial stability in order to test the parameters. To comprehend how institutional and policy processes operate, what shapes they take, and how they regulate the adoption of CCMS in the iron and steel industries of India have been discussed in detail. This, in turn, will assist corporations in getting over roadblocks and receiving encouragement to adopt CCMS.
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Introduction

The process of India's shift towards a diverse and environmentally sustainable energy system is now in progress, facilitated by the implementation of supportive governmental policies and good economic conditions (Dey et al., 2022). The intricate and pivotal matter of the interplay between quality of life, climate change, sustainable adaptation, and social-ecological resilience necessitates careful examination. Climate change has extensive ramifications on ecosystems, cultures, and economies, all of which possess the potential to substantially influence individuals' well-being. Provided is a comprehensive review of the interrelated concepts at hand.

Climate change is responsible for an increased occurrence and heightened intensity of extreme weather phenomena, including hurricanes, heatwaves, floods, and droughts. These occurrences have the potential to lead to fatalities, destruction of assets, and disturbances to routine activities (AghaKouchak et al., 2020). Elevated temperatures and shifting climatic patterns can have adverse effects on human health, which includes an increased susceptibility to heat-related illnesses, the proliferation of vector-borne diseases, and the emergence of mental health concerns stemming from climate-induced stress (Fong and Fong, 2020). It has the potential to disrupt agricultural systems, resulting in crop failures and subsequent scarcity of food resources. This, in turn, can have adverse effects on both nutrition and the accessibility of food (Shahzad et al., 2021). Water resources are subject to the impact of changing precipitation patterns, which can result in the shortage of water and have implications for water quality (Bhatta et al., 2021). These changes have the potential to give rise to conflicts over the allocation and utilization of water resources (Xiang et al., 2021). Disasters and disruptions brought on by climate change can have a negative impact on livelihoods, leading to job losses, and exacerbate economic inequality.

The primary objective of sustainable adaptation is to facilitate the ability of communities and ecosystems to effectively respond to evolving circumstances, all the while upholding or enhancing the general standard of living. Sustainable adaptation encompasses a range of methods and strategies aimed at mitigating the most severe effects of climate change, while concurrently fostering economic, social, and environmental sustainability. Illustrations of sustainable adaptation methods encompass the construction of robust infrastructure, the promotion of sustainable agricultural and forestry practices, and the allocation of resources towards renewable energy sources in order to mitigate greenhouse gas emissions. The correlation between climate change and the overall well-being of individuals is closely intertwined (Schneider et al., 2021; Lawrance et al., 2022). Effectively tackling this matter necessitates a comprehensive strategy that encompasses two key aspects: mitigating climate change through the adoption of sustainable practices, and facilitating the adaptation of people and ecosystems to the consequences of climate change. The preservation of the welfare of current and future generations in the context of climate change is heavily reliant on social-ecological resilience (Fedele et al., 2019; Turner et al., 2022). Communities that exhibit both social and ecological resilience possess enhanced capabilities to effectively address climate-related concerns, safeguard their overall well-being, and maintain the sustainability of their livelihoods.

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