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This research aims to examine the association between firm-specific and macroeconomic determinants and environmental expenditures in the Indian manufacturing sector. Furthermore, it seeks to investigate the moderation effect of country-level governance and economic development on the association between macroeconomic, firm-specific, and environmental expenditures. The current study is based on 70 manufacturing firms for the period of 2011 to 2021. The dependent variable is environmental expenditures and the independent variables are firm-specific and microeconomic determinants. The results revealed that market capitalization and firm size have a positive and significant impact on environmental expenditures. On the other hand, inflation and the rule of law negatively and significantly affect environmental expenditures. Regarding the moderation effect, the results revealed that the rule of law and GDP positively moderate the association between inflation and environmental expenditures. Hence, this research has significant implications for corporate executives, financial experts, regulators, and other interested parties. [ABSTRACT FROM AUTHOR]

Awareness, optimism and the role of individuals and corporates in addressing the environmental sustainability concerns is of prime importance for the future of the planet. Such a study becomes more relevant under the influence of a pandemic. This study dwells into the issues concerning environmental sustainability based on a sample of working individuals. The study is anchored around the exploratory factor analysis but also uses regression analysis and cross tab analysis for data interpretation. The study found three significant factors relevant to environmental sustainability (Organization's concern and contribution to sustainability; Sustainability awareness; Sustainability optimism). A major finding from the study is that an increased level of awareness and optimism will enable the organizations to contribute and care about the environmental and business sustainability. [ABSTRACT FROM AUTHOR]