Technological Advancements Driving Environmental Sustainability in Wire and Cable Manufacturing: A Critical Review

As awareness grows around environmental, social, and governance (ESG) issues, investors of diverse backgrounds are entering the market seeking investments that align with their values. Corporate Social Responsibility (CSR), which involves incorporating social and environmental concerns into business practices, is becoming increasingly valued by investors (Employment, 2001). This shift has led regulatory bodies worldwide to enact new laws and regulations addressing ESG management (Environmental, Social, and Governance (ESG) Investing). In today's digital age, transparency plays a crucial role in building investor trust. Forward-thinking boards, directors, and executives are embracing ESG reporting requirements, recognizing their potential to enhance long-term company performance. By integrating ESG considerations into their strategies and objectives, companies can mitigate risks, enhance shareholder value, and foster resilience, particularly in times of global uncertainty such as the COVID-19 pandemic (Hoang et al., 2022). Sustainable investing refers to a variety of concepts, including responsible investment, socially responsible investment (SRI), and ESG investment. Building on the results of Busch et al. (2016), the term "sustainable investment" has been frequently used to denote an investment strategy that combines financial concerns with long-term ESG norms, eventually contributing to sustainable development. In this research, SRI refers to investors that take a long-term view of their investments above short-term returns (Guyatt, 2005; Statman, 2008). In this survey-based study, we explore the integration of technological advancements in the wire and cable manufacturing industry through the lens of Environmental, Social, and Governance (ESG) goals. Utilising the Manufacturing Sustainability Assessment (MSA) framework and the Cable Manufacturing Environmental Footprint (CMEF) model, this research investigates how these technological innovations enhance environmental sustainability and bolster sustainable community relations and governance practices within the sector. Data was collected from various manufacturing facilities across India that have successfully integrated new technologies into their production processes. Preliminary results indicate that these technologies significantly reduce the negative impacts of industrial processes on the environment. While the CMEF model offers a detailed analysis specific to cable production, the MSA framework facilitates a comprehensive examination of sustainability strategies across the industry. By standardising future technological integrations aimed at environmental improvement, this research contributes to a deeper understanding of how technical advancements can enhance overall sustainability in the wire and cable industry.