Environment
Salil Seth; Mrinal Kanti Mahato; Mohd Irfan Pathan; Lokesh Tomar; Parveen Yadav
Abstract
This paper explores the role of eco-centric financing in promoting sustainable development and addressing environmental challenges in mine cities. Through qualitative analysis of the case studies from the Pilbara region in Australia, the Visakhapatnam-Chennai Industrial Corridor in India, and the Kapan ...
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This paper explores the role of eco-centric financing in promoting sustainable development and addressing environmental challenges in mine cities. Through qualitative analysis of the case studies from the Pilbara region in Australia, the Visakhapatnam-Chennai Industrial Corridor in India, and the Kapan Mining Complex in Armenia, the work highlights the multifaceted nature of eco-centric financing, and its implications for various stakeholders, including local governments, mining companies, and communities. The findings reveal that eco-centric financing is essential for enhancing climate resilience, fostering sustainable mining practices, and generating socio-economic benefits. However, significant barriers hinder its effective implementation including inadequate regulatory frameworks, limited access to financial resources, and social mistrust among stakeholders. The paper identifies key opportunities for improvement such as strengthening policy frameworks, enhancing stakeholder engagement, and integrating technology and innovation into financing initiatives. Ultimately, this study underscores the importance of a holistic and inclusive approach to eco-centric financing, emphasizing the need for collaboration and transparency to ensure equitable and sustainable outcomes in mine cities.
