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The aim of this study is to determine the drivers of adoption of environmental management practices in the Cement Industry in India. It also attempts to establish a link between financial performance of the cement firms and the adoption of Environment Management Practices by them. For determining the relationship between financial accomplishments of the firm and the adoption of Environment Management Practices, Data Envelopment Approach has been applied where the financial performance indicators of the firms have been used as inputs and the sustainability scores based on the Environment Management Practices adopted by the firms have been used as outputs. The DEA scores reflect the commitment of the firms in adoption of Environment Management Practices. For determining the Environment Management Practices followed by the firms, content analysis of the annual reports/sustainability scores of the firms has been done. For determining the factors influencing adoption of Environment Management Practices, content analysis of the annual reports/sustainability reports of the firms have been done followed by Principal component Analysis. A higher DEA score of the firms is interpreted as a greater commitment towards the incorporation of Environment Management Practices of the firms given their financial condition. The results show that most of the cement firms have a high DEA score indicative of the firms following best practices given their financial status. The main factors influencing the adoption of Environment Management Practices are technology innovation, adherence to environmental regulations, operation management and stakeholder perceptions.
Keywords: Environment Management Practices, Sustainability scores, Data Envelopment Approach, Principal Component Analysis.
