Actions beyond regulatory compliances: perceived climate strategy proactivity in Indian companies

Purpose - This paper aims to assess the perceptions of stakeholders as regards the practices of Indian companiesvis-à-visclimate change seeking underpinnings from stakeholder theory and collecting data using a structured questionnaire. Design/methodology/approach - This paper used a descriptive analytical research design based on the data collected from a diverse sample of stakeholders of Indian companies through a cross-sectional, self-administered online survey questionnaire. Findings - The study attaching significance to the stakeholders’ perception as a useful tool underscores that Indian companies have started to engage in preventive measures to minimize the externalities of climate crisis taking cognizance of the stakeholders’ interests amidst their increased awareness, also underlining that their perceptions substantially determine climate strategy proactivity (CSP) in their quest of competitive advantage beyond regulatory compliances. The study finds that incessant growth in the stakeholder awareness has not left companies to remain reluctant from analyzing effects and adopting suitable strategies in India also which, as a fast growing developing country, has witnessed immense growth in the post-liberalization era. Research limitations/implications - This study would help decision-makers in businesses, policymakers, practitioners and standard-setters by providing further insights on the relevance of stakeholders’ perspectives in CSP in the developing countries. Stakeholders’ perceptions though representing varied categories hint that the actions beyond regulatory compliances need to be in focus in future studies. Originality/value - The paper elaborates the significance of CSP in developing countries to eliminate the impact of inadequacies that previous studies undertook primarily in developed countries have failed in contextualizing these issues of developing countries.