Document Type : Review Paper
Authors
1 Department of Management Studies, Babasaheb Bhimrao Ambedkar University (A Central University), Lucknow, Uttar Pradesh, India
2 Department of Business Administration, School of Business and Commerce, Manipal University Jaipur, Jaipur, Rajasthan, India
3 Department of Marketing and Supply Chain Management, School of Business Studies, Central University of Jammu, Jammu & Kashmir, India
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 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.
Keywords
- Climate resilience
- Eco-centric financing
- Environmental challenges
- Mine cities
- Sustainable development
Main Subjects
)