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Revisiting Corporate Stakeholder Environmentalism Theories to Ascertain Influences in Sustainable Real Estate Decision Making in India

Author Affiliations

  • 1 School of Planning and Architecture, Neelbad Road, Bhauri, Bhopal, Madhya Pradesh, 462030, INDIA

Int. Res. J. Environment Sci., Volume 4, Issue (12), Pages 98-106, December,22 (2015)

Abstract

Sustainable real estate with multitude of rating tools and changing legislation puts the real estate firms under pressure to amalgamate the sustainability initiatives into strategic decision making. Sustainability agenda is reflected as their corporate social responsibility in varying scales due to the different external influencing factors. Property developers are business firms that aspire to maximize profit but they do not operate in isolation and there are a number of influence factors for the decisions made at firm level. This research revisits the theories of corporate stakeholder environmentalism and presents a case of environmental sustainability decision making in real estate sector in India by way of an empirical investigation. The purpose of this paper is to identify stakeholder influences in real estate decision making with a fundamental base of literature review of the evolution of corporate environmental theories. The literature on sustainable real estate decision making is limited and therefore, this research takes help of an empirical inquiry into the subject matter. With the help of a primary question survey taking perception ratings from real estate sector experts, the paper draws out the key external and firm level influences in real estate decision making towards higher environmental sustainability goals in Indian real estate sector.

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