Green initiatives and sustainable development in automotive industry

Abstract

Sustainable development emphasizes the maintenance of environmental, social and economic resources, with all of them being critical to meet the needs of current and future generations. But despite the concepts dissemination into many sectors of society and the rise of environmental protection policies throughout the world, the impact on global sustainability trends has been limited. In the repercussion of the last global recession and the followed economic crisis, the Green initiatives gained attention as a concept that could overcome the implication of environmental protection as a cost factor slowing down economic development and bring the ecosystem and the economy into a positive relationship. This relationship overpowered the concept of viewing environmental sustainability as a opportunity rather than a constraint.This paper develops an approach towards the adoption of the green initiatives particularly in connection with automotive industry, and also tries to build a relationship between the financial performance of the firm and sustainable development through the adoption of green initiatives.
The purpose of this paper is to focus on investigating and benchmarking the green initiatives in the automobile industry. In this paper, the researchers choose the leading automobile industries to excavate deeper, how this sustainable trend influence the companys financial performance.