Green living, recycling, waste management have been the buzzwords in the hospitality industry for some time now. More and more hotels are making sure they're doing their bit to protect the environment and reduce carbon footprint.
But now, a relatively new buzzword has made inroads. And this one goes beyond just the environment. It's called ESG Environment, Social and Governance.
Environmental, Social and good Governance is the umbrella term for sustainable activities in an economy. An economy where success will no longer be measured by profits alone. But by non-financial factors like how an organization creates an impact on Environmental factors such as carbon footprint, water usage, waste management, air pollution etc: Social factors like diversity, human rights, safety at workplace, employee well-being; and corporate Governing factors such as shareholders rights, transparency, audits, and ethical business practices.
While experts believe that ESG in India is still in its infancy, the buzz about it is certainly strong. Firstly, COVID 19 has led corporates to increase their emphasis on employee wellbeing, mitigating natural calamities, and managing partners/ stakeholders in times of uncertainty.
Secondly, PM Narendra Modi's commitment at the United Nations Climate Change Conference in 2021 to achieve net zero emissions (cutting greenhouse gas emissions to as close to zero) by 2070, has pushed big corporates to start putting in place a robust ESG plan.
While corporate India is taking significant strides on the ESG path, the hospitality industry is not far behind. Hotelier India speaks to market leaders and brand builders to understand more about how the industry is embracing ESG, where they are on the ESG map and how far they still have to go...
ON THE ESG MISSION
This story is from the {{IssueName}} edition of {{MagazineName}}.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the {{IssueName}} edition of {{MagazineName}}.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
The Big Fat Indian Wedding
With a slew of initiatives, hotels are ensuring that the wedding day is special for the couple as well as for the hotel's bottom line.
An Organization Of Rainmakers!!!
Rainmakers are revered for their ability to generate income (rain) for an organization by cracking deals, attracting clients/guests and holding on to them; often, for a lifetime... Revenue generation (rainmaking) is the job of everyone on the team.
Hospitality: A Rewarding Career Awaits
Delving into the roles and responsibilities that professionals in the field of hospitality can undertake in carving a rewarding career.
"India is my first baby!"
Bader Ali Habib, Regional Head of Proximity Markets, Dubai Department of Economy and Tourism, gets candid.
The Essence of Landscape Architecture
Innovative landscaping can enhance the luxury hospitality experience by enriching guest interaction with the natural world.
Teaching the Art of Tea
The first global tea artist from India, teaching the art of making and drinking fine tea, Susmita Das Gupta talks about her mission to make Indian specialty tea reach a global audience.
Feeding Profits
Food and beverage is driving revenues in hospitality in novel ways as hotels innovate with new-age experiences.
Acing the Revenue Game
Hotels are looking at new avenues to generate revenues that go beyond rooms and food.
The Power of Predictive Maintenance
A strategic approach to enable Indian hotels to become leaders in sustainable hospitality.
Shaping a Sustainable FUTURE
To mark the occasion of World Environment Day this month, we find out how the hospitality industry is paving the way for a greener, healthier tomorrow...