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

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.