00:00 Black Swan events, global warming, COVID-19 and a host of other natural and man-made disasters
00:16 have tested the resilience of businesses across the world.
00:20 Usually, blame for business failures is apportioned to external factors such as adverse business
00:28 cycles, badly framed government regulations and lack of infrastructure.
00:35 However, the causes often lie within short-term thinking, destruction of natural resources,
00:44 exploitation of labour and poor management to name a few.
00:49 For Rajasthan tourism business to build resilience, gain competitive advantage and achieve greater
00:59 returns in the long run, businesses must improve their performance on ESG metrics, that is
01:10 environment, social and governance.
01:14 External impacts such as the consumption of natural resources, waste discharge and carbon
01:21 emissions.
01:22 Social factors such as ties with local communities, diversity, inclusion and building a good reputation
01:35 with stakeholders, governance including board effectiveness, approach to senior executive
01:44 compensation and appropriate reliance on independent directors.
01:51 Thank you.
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