![ESG CHECK-IN FOR RESPONSIBLE HOSPITALITY](https://cdn.magzter.com/Outlook Business/1696310730/articles/1dqGN9SjL1696401365068/ESG-CHECKIN-FOR-RESPONSIBLE-HOSPITALITY.jpg)
While the concept of responsible business has been around for some time now, it is only since the turn of the century that it has evolved into a benchmark—the environmental, social and governance (ESG) performance—against which companies are being constantly scrutinised for their commitment towards the environment and the people they work with. The tourism industry is no exception.
“Given the direct interactions between tourism industry operators, the environment, and communities the importance of ESG in tourism cannot be overstated,” states the United Nations World Tourism Organisation (UNWTO) in an article titled ESG Framework for Tourism Business. It explains sustainable tourism as making optimal use of environmental resources and conserving natural resources and biodiversity, respecting the socio-cultural authenticity of host communities and ensuring viable, long-term economic operations, including stable employment and contributions to reducing poverty.
The value of ESG reporting for businesses in the tourism sector has been observed in areas like attracting and retaining customers, risk and regulation management, acquiring access to sustainable finance or investor relations management, the UNWTO article says. The ESG metrics relevant for the hospitality industry include climate change mitigation and adaptation; diversity and inclusion, which is measured as the percentage of racial, ethnic and gender diversity at executive and middle level management; waste management and governance, it adds. The Global Hotel Decarbonisation Report 2017 states that the hotel industry will have to reduce its carbon emissions by 66% by 2030 and by 90% by 2050, taking 2010 as the baseline.
This story is from the October 2023 edition of Outlook Business.
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 October 2023 edition of Outlook Business.
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
![DEMAND DRAFT](https://reseuro.magzter.com/100x125/articles/259/1721878/cVdja28Fc1717485748551/DEMAND-DRAFT.jpg)
DEMAND DRAFT
A new government, a new beginning. However, for industry leaders, it is a time of uncertainty as they wait and watch what policies the new dispensation will enact.
![REBEL'S GUIDE TO SUCCESS WITH FOOD](https://reseuro.magzter.com/100x125/articles/259/1721878/dDV5nDw8U1717738810177/REBELS-GUIDE-TO-SUCCESS-WITH-FOOD.jpg)
REBEL'S GUIDE TO SUCCESS WITH FOOD
Having started its journey in 2004 as a quickservice restaurant under the brand name Faasos, Rebel Foods, now a unicorn, aims to expand its footprint. Jaydeep Barman, co-founder of Rebel Foods, talks to Vinita Bhatia about the company’s growth plans, focusing on Tier-II and -III cities, licensing as a strategy and more. Edited excerpts:
![NATURE BECKONS](https://reseuro.magzter.com/100x125/articles/259/1721878/6wicP08Oq1717497572286/NATURE-BECKONS.jpg)
NATURE BECKONS
When not busy at work, Naivedya Agarwal, co-founder and CEO of manufacturing start-up Runaya, indulges in activities that keep him close to nature, like wildlife photography, safaris, flying and holidays at beaches and the hills
![Combining Minimalism and Material Responsibility for Timeless Furniture Pieces](https://reseuro.magzter.com/100x125/articles/259/1721878/fVJcb0s071717497442675/COMBINING-MINIMALISM-AND-MATERIAL-RESPONSIBILITY-FOR-TIMELESS-FURNITURE-PIECES.jpg)
Combining Minimalism and Material Responsibility for Timeless Furniture Pieces
Leading Furniture Industry with Inspiring Innovation, Sustainability, Customization, and Collaboration. EK Designs creates designs with honesty and transparency upholding the strict quality norms.
![Participation Over Dictation Leads to Excellence: Girish Avansta](https://reseuro.magzter.com/100x125/articles/259/1721878/Idekw_2Cn1717497280111/PARTICIPATION-OVER-DICTATION-LEADS-TO-EXCELLENCE-GIRISH-AVANSTA.jpg)
Participation Over Dictation Leads to Excellence: Girish Avansta
Accellor's innovative Al-backed designs are a result of the whole-hearted participation of every employee
![Leading the Charge in Digital Transformation by Pioneering the Future of Enterprise Automation](https://reseuro.magzter.com/100x125/articles/259/1721878/yaOna8lxE1717497146049/LEADING-THE-CHARGE-IN-DIGITAL-TRANSFORMATION-BY-PIONEERING-THE-FUTURE-OF-ENTERPRISE-AUTOMATION.jpg)
Leading the Charge in Digital Transformation by Pioneering the Future of Enterprise Automation
Areteans is Revolutionizing Business Automation and AI Integration
![Recognizing MSME Excellence and Charting the Future: Insights from Outlook Business Spotlight Awards 2024](https://reseuro.magzter.com/100x125/articles/259/1721878/2CqZPw1Mt1717496936486/RECOGNIZING-MSME-EXCELLENCE-AND-CHARTING-THE-FUTURE-INSIGHTS-FROM-OUTLOOK-BUSINESS-SPOTLIGHT-AWARDS-2024.jpg)
Recognizing MSME Excellence and Charting the Future: Insights from Outlook Business Spotlight Awards 2024
MSMEs are the \"unsung heroes who keep our industries humming and our dreams soaring.
!["Sustainability is an Essential Component of Lubrizol's Corporate DNA"](https://reseuro.magzter.com/100x125/articles/259/1721878/IFUKSP8UP1717496628839/SUSTAINABILITY-IS-AN-ESSENTIAL-COMPONENT-OF-LUBRIZOLS-CORPORATE-DNA.jpg)
"Sustainability is an Essential Component of Lubrizol's Corporate DNA"
Bhavana Bindra, Lubrizol's dynamic Managing Director, shares her views on sustainable growth and Lubrizol's impact in India.
![Modernizing Mobility: India's Need For A Smarter And Sustainable Passenger Transportation Solution](https://reseuro.magzter.com/100x125/articles/259/1721878/08pAITfWO1717496480436/MODERNIZING-MOBILITY-INDIAS-NEED-FOR-A-SMARTER-AND-SUSTAINABLE-PASSENGER-TRANSPORTATION-SOLUTION.jpg)
Modernizing Mobility: India's Need For A Smarter And Sustainable Passenger Transportation Solution
India is at the forefront of a transformative wave of urbanisation. To combat climate change and urban pollution, upgrading infrastructure and embracing sustainable mobility, particularly in efficient mass transportation systems is an imperative.
![Bank Imbalance](https://reseuro.magzter.com/100x125/articles/259/1721878/EpHw2fpWs1717493740458/crp_BANK-IMBALANCE.jpg)
Bank Imbalance
As investors turn to more lucrative options, banks in India are seeing sluggish growth in deposits. With a limited arsenal to compete with high returns available elsewhere, they are struggling to balance deposits with the amount of loans they are handing out