Strategic Investments in Fixed Assets for Pollution Mitigation in NSE-Listed Indian Pharmaceutical Companies

Abstract

The Pharmaceutical industry in India significantly contributes to the nation’s growth and overall welfare. However, it is also confronted with environmental issues and sustainability concerns. In the face of global challenges such as climate change and the depletion of natural resources, there is a growing consensus that businesses must assume accountability for their environmental impacts. This research paper delves into the implementation of green accounting principles within Indian pharmaceutical sector as a means to tackle these issues and endorse sustainable practices. Green accounting involves an innovative approach that integrates environmental factors into conventional financial accounting systems. The pharmaceutical sector in India is under mounting pressure from regulatory authorities, consumers, and international stakeholders to curtail its environmental footprint and adopt ethical business practices. This research paper attempted to find the strategic investments in Fixed Assets for pollution mitigation in NSE listed Indian Pharmaceutical companies. The pharmaceutical industry in India is creating environmental issues like noise, air, water pollution. Researcher has collected the data from the published financial statements of selected pharmaceutical companies which are listed on National Stock Exchange for the financial year 2021-22 and 2022-23. Data was analyzed and conclusion has been drawn. On the basis of analysis researcher has made some suggestions.