Climate Change Adaptation Strategies for Achieving Net-Zero Economy

Today, net zero economyNet zero economy is garnering lot of interest as climate change concerns have become one of the most pressing issues for the organizations. The negative impact of climate changeClimate change movement (CC) could be witnessed across all industries. The direct risk (i.e. impairment cost, damages, forced closure from extreme weather events) and indirect risk (i.e. disruption in the business value chain, loss of infrastructure, etc.) emanating from CC has severely impacted the business model of the companies. It is important for companies to address climate challenges in their core business model and take climate action for achieving net zero economyNet zero economy. The aim of this study is to explore the impact of various organizational factors on the climate change adaptation strategies (CCAS) of manufacturing companies in India. The data was collected from 241 respondents and structural equation modelling (SEM) through Smart PLS 3.0 was employed for analysis in the study. Results indicated that corporate knowledge, processes, objectives, financial resources, collective knowledge, and incentives significantly influence the CCAS for the companies. The findings provide valuable input to the managers, practitioners, and other stakeholders interested in promoting climate actions and achieving a net zero economyNet zero economy. This chapter contributes to the extant literature in the field of corporate CC strategies and actions.