Abstract

The rapid rise in population growth, urbanization and changes in consumers’ consumption patterns has caused an increase in volume of waste produced. The increasing volume of waste creates a number of environmental and economic problems and requires that sustainable waste management practices are put into place. The current study, “From Waste to Wealth: Business Innovations in Sustainable Waste Management in Kerala”, identifies how innovative business practices are transforming waste into a valuable resource leading to sustainable development. This study seeks to determine the level of public awareness and perception regarding the waste-to-wealth concept; to evaluate the current level of public participation in implementing sustainable waste management practices; to examine the use of sustainable business practices; to identify some of the barriers to implementing waste-to-wealth initiatives; and to analyse what role public perception, participation and growth of the waste-to-wealth business models. The research method used for this study included both descriptive and analytical research design, and involved the collection of primary data from 160 respondents through structured questionnaires as well as the collection of secondary data from books, journals, reports, and government publications. A variety of analysis including mean percentage analysis technique, ranked analysis technique, weighted average score analysis, and chi-square test were used to analyse the collected data. The outcome of the research revealed that the majority of respondents are aware of the waste-to-wealth initiatives and approved positively regarding their implementation with a high level of participation in activities such as waste segregation, recycling, composting, and reuse. The research has revealed that sustainable business innovation, such as plastic recycling companies, composting plants, biogas production facilities, and e-waste recycling centers, are a significant contributor to productive waste management and resource recovery. The most common impediments to the development of waste-to-wealth businesses were identified as financial limitations, low levels of public awareness, insufficient demand from the market for recycled products, limited government help, and limited access to technology. Furthermore, there is a significant correlation between how the public views and engages with sustainable waste management activities. The research finds that by enhancing financial assistance, creating greater awareness, providing more resources for technological improvement, adjusting policy initiatives to support ecological growth, and providing more opportunities in the marketplace for products made from recyclable materials, waste-to-wealth innovative businesses will grow and create a lasting circular economy throughout Kerala and Thrissur District.