Optimizing Carbon Footprint and Emissions Trading in Coimbatore’s Foundry Industry: Strategies for Sustainable Growth

Abstract

This paper discusses carbon footprint management and how the emissions trading mechanisms can be considered the way forward in attaining sustainable growth in the foundry industry in Coimbatore which is one of the largest industrial foundry clusters in India. In the research, it would be asked the key sources of Greenhouse gas emission and how the energy efficiency measure and the market-based practices affect the environment and economies. The quantitative research design was adopted, and the primary data was obtained through questionnaire containing 125 stakeholders, with the help of secondary data provided by industry reports and government sources. The statistical methods, including the mean analysis, correlation and regression, were used to evaluate the pattern of the emissions and the influence of the sustainability practices. The results indicate that the main source of carbon emissions is fuel combustion and electricity use, and significant but positive correlations were found between the variables of energy efficiency and reduction of emissions. The results of the regression also show that involvement in the emissions trading can contribute greatly to efficiency in terms of costs, which justifies more than 80 percent of its variation. This paper is important as it offers empirical data to support the idea that technological interventions coupled with emissions trading could effectively increase environmental compliance and economic competitiveness at the same time. The insights provide a viable perspective to policymakers and the industrial leaders to develop viable strategies to transform Coimbatore foundry sector into a responsible and economically viable industrial model.