Analysis of Key Factors of Economic Performance Influencing Environmental Management - A Study of Indian Mining Industry

Abstract

This paper provides an insight of the relationship between economic performance and environmental management which is necessary for sustainable development and economic prosperity. The present paper uses factor analysis methodology for identifying the major factors relating to economic performance which also enhances environmental management in mining industry.The survey has been conducted in four subsidiaries of Coal India Limited (CIL) which are Bharat Coking Coal Limited (BCCL), Dhanbad, Central Coalfield Limited (CCL), Ranchi, Coal Mines Planning and Design Institute India Limited (CMPDIL), Dhanbad and Eastern Coalfield Limited (ECL), Asansol. This study identifies four factors, namely risk related driver, image related driver, societal related driver and efficiency related driver of economic performance which should be integrated with corporate strategy of the company for sustainable growth and development.