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The earth’s climate has changed during its geological history, and it cannot be separate from human actions and needs. Human ambition has pressurized the environment from their corporate activity that caused climate change. It led various countries to ponder upon the environmental activities of the corporate, which ideally be reflected as the key differentiator on account of Sustainability (McBean et al., 2001). The world is looking forward to sustainable development, which means developing sustainable practices while improving humans’ living standards. Sustainable development involves the endorsement of principles that support utilization within the ecological boundaries.
The term ‘Sustainability is well-defined as the ability to construct justifiable growth - to make sure that it fulfils contemporaneous needs without negotiating the capability of forthcoming generations to meet their identifiable needs (WCED1; Joanne Wiseman (1982); Adhikari, A. and Tondkar, R. H. (1992)). It comprises three dimensions-environmental, social, and economic dimensions (UNDPCSD, 1996). It removes the gap between conflicting goals and contains the instantaneous quest for financial fortune, environmental superiority, and social impartiality.
The research on current changes have been quick and dynamic and the notion of sustainability is gaining popularity across the globe. The economic growth cannot be treated as exclusive. Economic, environmental, and social elements are also treated as essential factors in business growth. Measuring Environmental performance must comprehend in the extensive milieu of the argument about corporate social responsibility, which has been carried about by assorted compressions and a variety of benefits (Cowen et al., 1987; Chouhan et al., 2021, Chouhan et al., 2020; Hackston and Milne, 1996; Adams et al., 1998; Reverte, 2009). It is essential that the industry Stakeholders convert themselves to more conversant with emission of greenhouse gasses (GHG) and committed to the future difficulty of global warming (Idowu, 2011; Fernandez-Feijooet al., 2013). The values of social liability are being integrated into sustainability strategies that compile the three mainstays of environment, society, and economy. The customers and other stakeholders are becoming more economically aware and stand their attention enrooted for environmental concerns.
Some studies on a company’s sustainability presentation have been recognised significant (Veleva & Ellenbecker, 2001; Labuschagneet al., 2005). Conversely, there is a lack of a formal disclosure and accounting framework for the cement industry in India. Hence, we have included that the progress of companies should be handed on their sustainability efforts and strategies (Simnett, Vanstraelen and Chua 2009; Leda Nath, and David Wood 2012).
The Indian Cement Industry has a total capacity of 185 million tonnes, followed by China. This is one of the primary beneficiaries of infrastructural growth. With healthy demand and ample availability of supply, the industry has a bright future. But at the same time, the cement industry has a long-term history of causing adverse environmental impact. The cement industry is one of the high-pollution industries, and with the increase in production to meet the global demand for cement, the emission of waste has also increased in recent years. According to WBCSD2, this industry is responsible for 5% of the climate-relevant CO2 emissions produced by humans. Therefore, reducing CO2 emissions from cement production is a crucial task. However, at present sustainable development is not a substantial part of cement Industries work and Reporting practices.