SIMPLEST VERSION Of ESG
Harish Gupta
KEY ESG TRENDS & INSIGHTS
Dr. Mythili Kolluru
BIZEMAG DIGITAL MARKETING INTERNSHIP 2023
Dr. Shubham Saxena
BIZEMAG EVENTS
August 2023
ESG ON FINANCE TECHNOLOGY
Founder & Chief Editor: Dr. Vaneeta Aggarwal Web Content Editor: Riya
Creative Designer: Shahid Ali
Feature Writer: Shrilatha Contributor: Sreeranjana
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In the ever-evolving landscape of business and finance, the concept of Environmental, Social, and Governance (ESG) has emerged as a compass guiding us toward a more responsible and sustainable path. ESG embodies a commitment to evaluating enterprises not solely on financial returns but also on their impact on the planet, society, and ethical governance.
ESG principles have transcended buzzwords, influencing decision-makers, investors, and consumers alike. Companies embracing ESG are redefining success by acknowledging that profitability must harmonize with environmental preservation, social equity, and ethical leadership. This paradigm shift reflects an understanding that long-term success hinges on the well-being of all stakeholders and the planet we share.
From renewable energy initiatives and inclusive workplaces to transparent governance practices, ESG encapsulates a holistic approach to business that resonates with the collective consciousness. Beyond being a moral imperative, it is a strategic imperative. Investors are increasingly scrutinizing companies through the ESG lens, recognizing that sustainability is an indicator of resilience and adaptability.
The ESG journey isn't without challenges, but its impact is undeniable. As we forge ahead, let's recognize that ESG isn't a fleeting trend; it's a transformative force that aligns profit with purpose. By embracing ESG, we shape a future where businesses thrive, communities prosper, and our planet thrives – a future worth investing in.
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Dr. Vaneeta Aggarwal Founder & CEO contact@bizemag.com
Tulsi Tea, born in 1981 under the visionary Mr. Gordhandas Mavjibhai Kathrotiya in Chalala, Amreli District of Gujarat, originated as a modest Provision Store. Guided by a relentless pursuit of excellence, I, Haresh Kathrotiya, joined the journey in 1997. Our alliance catalyzed the expansion into direct retailing, prompting a strategic relocation to Amreli Town, the nucleus of our exclusive tea sales.
Witnessing a steadfast growth in distribution, Tulsi Tea swiftly earned its laurels as the quintessential brand of Saurastra Region. Fuelled by ambition, G.M. Tea Packers Pvt. Ltd. emerged in 2012 as the backbone of our operations. 2014 witnessed a pivotal leap, marked by the establishment of an avant-garde, automated unit sprawling across 1.25 Lacs Sq. Ft. in Bavla, Ahmedabad.
Presently, this state-of-the-art facility orchestrates the production of 30 Tons Per Day, poised for an impressive expansion to a average peak capacity of 70 Tons Per Day. Today, Tulsi Tea, a cherished gem within G.M. Tea Packers Pvt. Ltd., stands tall as Gujarat's second-largest tea brand.
At our core, resounds an unwavering dedication to quality, emblematic of our commitment to serving customers with the utmost value.
The choice to venture into the tea industry was deeply influenced by my father's tireless dedication to his Provision Store. Seeking to forge a different path, we explored various businesses. However, the widespread adoration for our provision store's tea blend spoke volumes. It became
evident that our tea wasn't just a beverage; it was a bridge connecting people, inspiring conversations and smiles.
This realization was a turning point, illuminating our direction. We chose the tea industry not just as a business endeavor, but as a means to infuse every cup with the values we hold dear. Tulsi Tea emerged from this inspiration, now a cherished offering of G.M. Tea Packers Pvt. Ltd. This choice was a commitment to carry forward a legacy, fostering togetherness, flavor, and a story that resonates across generations
The decision to become a business owner was rooted in a desire for autonomy and the aspiration to shape a legacy. While observing my father's relentless dedication to his Provision Store, I realized the significance of charting one's own course. The prospect of owning a business presented an opportunity to not only control my destiny but also to create a meaningful impact.
Entrepreneurship offered a canvas to paint our values and dreams, allowing us to build an entity that embodies our principles. The allure of guiding a venture from its inception to
fruition, of fostering a team that shares the same vision, and of leaving a mark on the industry fueled my determination.
Moreover, being a business owner provided a platform to bring forth innovative ideas and solutions. It empowered us to craft products that resonate with our community and to contribute positively to the economy. The potential to drive change, influence the market, and foster growth motivated me to take the plunge into entrepreneurship.
Over recent years, we've strategically transformed our business approach. We revamped packaging and branding, diversified our product range, and expanded our distribution network. Our core emphasis shifted towards streamlined systems and automation, coupled with attracting top industry talent. The integration of robust sales and distribution management systems has been pivotal. This holistic strategy aligns with our pursuit of professionalism and innovation, paving the way for sustained growth and excellence in the dynamic tea market.
Amid India's sea of tea commodities, Tulsi Tea stands as a unique island. Over two decades, we've meticulously carved a brand identity that transcends borders; travelers insist on carrying Tulsi Tea, a regional gem, over other national brands. At our core lies a commitment to being a boutique offering, tailored for Gujarat and the Gujarati palate. This focus on the essence of Gujarat, both in heart and taste, differentiates us. Our tea is a reflection of this philosophy - crafted with the Gujarati palate in mind.
As Gujarat continues to captivate India and the world, Tulsi Tea is poised to become the preferred choice. Our product isn't just tea; it's a testament to the spirit of Gujarat, a distinct flavor that resonates with those who appreciate uniqueness. In a landscape of choices, Tulsi Tea's character and commitment make us an unparalleled brand, a truly distinguished offering.
Tulsi Tea takes pride in offering an extensive array of products that cater to diverse consumer preferences. Our repertoire encompasses over 9 delicious blends, featuring a remarkable 56+ SKUs that cater to a wide spectrum of tastes and needs.
Under the umbrella of Tulsi - the Mother brand, we present a selection that includes Brokens, CTC leaf, and Dust ranges, symbolizing the heart of our offerings. For those who seek the pinnacle of quality, we unveil Tulsi Gold, an embodiment of tea excellence. In tune with urban preferences, Tavas, our urban-popular brand, boasts a CTC blend that resonates with the contemporary palate.
Addressing both economy and robust flavor, Vatan emerges as a notable choice. This brand embraces a range of teas that harmonize affordability with a robust and satisfying tea experience. With each offering, we are committed to not just providing tea, but delivering an experience that encapsulates the diverse tastes and preferences of our esteemed consumers
Our company's aspirations are resolute and far-reaching. Our foremost goal is to ascend the ranks and secure a position among the nation's top tea brands. Concurrently, we're driven by the vision of creating employment opportunities for over 2000 dedicated individuals who form the backbone of our operations.
Tulsi Tea envisions a transformation into a formidable national player, transcending regional
boundaries. With unwavering commitment, we aspire to bring the essence of the "Swaad of Gujarat" to every corner of the nation, to the Indian diaspora, and even to the global market.
In our dynamic market, competition is a constant companion, presenting itself at every stratum. The arena is diverse, with distinct competitors vying for dominance across different market segments.
In the urban landscape, our contenders are national brands, each with their established foothold and recognition. This arena demands a unique blend of innovation and quality to stand out amidst giants.
Transitioning to semi-urban locales, we encounter a different array of rivals, each carving their
niche with local sensibilities and preferences. The competition here is shaped by an intricate interplay of tradition and modernity.
As we delve into rural and deep rural markets, a new set of competitors emerges – local, homegrown brands that possess an innate understanding of the region's distinctive taste and culture. The battle here hinges on fostering a bond of familiarity and trust with the community.
Thus, our journey is a continuous one and the challenge lies not only in outshining competition but also in aligning our offerings with the unique demands and aspirations of each market segment.
Our company's journey has been a tapestry woven with remarkable achievements and unwavering commitment. With over 450 distributors and a staggering 80,000+ retail touchpoints, Tulsi Tea's reach extends far and wide, touching lives and homes across the landscape.
Our success is indebted to the collective efforts of a formidable team of over 200 dedicated members, each a torchbearer of the Tulsi legacy, spreading its essence with every step.
A testament to our triumph is the loyalty of our consumer base, spanning the length and breadth of Gujarat. Beyond the state borders, our influence resonates among the Gujarati diaspora, reinforcing our identity even beyond our homeland.
The financial year 2022-23 was a defining milestone, as we surged ahead to achieve a remarkable target of 225 crores, a testament to our consistent dedication and market resonance.
As the captain of this ship, my commitment to Tulsi Tea knows no bounds. Each day, I invest substantial time, often spanning well beyond the conventional hours. The canvas of my responsibilities is wide, from steering our team to strategizing market penetration, refining operations, and ensuring that our brand's essence resonates far and wide. It's more than a job; it's a passion that propels me to dedicate the necessary time and effort to see Tulsi Tea's vision come to fruition.
Absolutely, community engagement and giving back hold a special place in the heart of Tulsi Tea. I actively participate in CSR initiatives as I firmly believe that businesses have a responsibility to contribute positively to society. My motivation to engage in CSR initiatives is rooted in the profound desire to make a difference. It's about enhancing lives, championing causes, and leaving behind a legacy of positive transformation. By participating in initiatives such as building schools for underprivileged children in Amreli or supporting the journey of a girl towards the Para Olympics, we strive to contribute towards a brighter and more inclusive future.
Our involvement in CSR initiatives not only strengthens our bond with the community but also resonates with our brand values, fostering a sense of shared purpose.
By: Harish Gupta
Recently, the term ESG has been blossoming across various platforms, becoming a focal point of discussions in both corporate circles and societal segments. It has found its way into boardroom discussions, corporate governance reports, webinars, press releases, blogs, newspapers, and even government policies. The concept of "ESG" might seem intriguing, yet for many, it remains unfamiliar, overlooked, or simply not a matter of concern. I believe it's high time we demystify ESG, presenting it in a straightforward manner and illustrating its relevance in our everyday lives.
The three components in the term ESG inherently suggest a connection to aspects such as nature, climate, human behavior, society, equality, growth, socialism, development, industry, and innovation etc.
Environment is related to Nature: emphasis on conservation of natural world, eco-system
Social is related to People: emphasis on human life well-being&connection
Governance is related to Process: emphasis on equal& ethical development support
Air, Water, Energy, Natural Resources, Soil, Natural Eco-System, Biodiversity, etc.
Peace, Socialism, Equality, Family, Love, Care, Human Life, Zero Poverty, People, etc.
Innovation, Growth, Development, Partnerships, Legality, Fair Practices, Justice,
ESG has impacted all of us in some way, making it crucial for us to comprehend how it intersects with each of our lives.
ESG affects every person, regardless of their business, occupation, region, gender, status, or age. It touches everyone who interacts with or is involved in any of the three components—environment, social, or governance—in any capacity.
Is it possible to manufacture any product without availability of NATURE - Air, Water, Natural Resources, Energy
Is it possible to model an organisation without having PEOPLE - Employees, Vendors, Supply Chain, Customers
Is it possible to succeed any business model without establishing good GOVERNANCE - Equality, Ethical Partnerships, Infrastructure Support, Innovation, Growth, Peace, Justice, zero corruption
Is it possible for any human life to exists without availability ofNATURE - Air, Water, Natural Resources, Energy
Is it possible for any individual to survive alone, without being surrounded byPEOPLE -family, society, other life, other humans
Is it possible for humankind to think of development and growth without establishing good GOVERNANCE - Education, Transport, Medical Facility, Peace, Justice, Equal Opportunity, zero corruption
ESG is recognized in various ways and labelled differently depending on the audience's perspective.
Sustainability, Sustainable Development, Business Responsibility, Sustainable Future, Green Investment, Sustainable or Responsible Investment, Circular Economy, Net Zero Carbon Emission, Carbon Footprint, Sustainable Lifestyle, Etc - all of these falls under the umbrella of ESG.
Corporates Making “Profits with Purpose”; Purpose is to take care of nature, people and adopting good governance, ethical business practices
For Individual Human Life Sustainable Lifestyle
Individuals Living Today for Future; Having lifestyle that meets today’s need without effecting future survival.
ESG is a discipline that instils a sense of responsibility in everyone to maintain and protect the Earth's habitability and its natural colours-Blue&Green
It’s not about doing only plantation; it’s about nurturing responsibleness in behaviour towards both nature & society.
It’s not about taking best out of world; It’s about giving access to better world.
It’s not about quality resources enjoying today; It’s about quality resources left to enjoy future.
It’s not about doing profit driven partnerships; It’s also about collaborating with nature.
It’s not about how this costs now; It will about how it rewardsin future.
It’s not about why should we; It’s about how could we
It’s not about merely regulatory disclosure; It’s about a responsible initiative to essentially act upon
It’s not about to be social discretely; It’s about to be communal accountable.
It’s not about adding lines to products; It’s about adding values to products.
It’s not about creating capital; It’s about investing in nature & society.
Name: Harish Gupta, a quailed Chartered Accountant who participated in the UNGCNI Conventions and founder of 'The ESG People,' an organization born out of the shared vision of a group of passionate change-makers.
Dr. Mythili Kolluru
Summary: Today, other than profits, customer satisfaction, employee experience, and business disruptions, organizations are under pressure to develop sustainable products & services and conduct responsible social engagement. In the Environmental, Social, and Governance (ESG) path, organizations will continue to evolve their ESG and sustainability priorities. Increasingly, customers are choosing to spend their money aligning with their values. Most individuals, over 60%, are now making purchasing decisions based on ethical and sustainable considerations, a trend growing by 10% annually. Furthermore, they are willing to pay a premium for products that are made sustain-ably and ethically. In this article, Dr. Mythili kolluru, a prolific writer, Strategist, and Professor of international business, discusses her research on key trends to watch out for in any organization’s ESG journey.
ESG stands for Environmental, Social, and Governance. It is a framework for evaluating the sustainability of an organization. The concept of ESG began in the 1960s when socially responsible investing (SRI) was practiced. SRI is a type of investment that excludes stocks of products engaging in business activities like tobacco products or involvement in the apartheid regime. In the 1990s, SRI evolved to include Environmental, Social, and Governance (ESG) factors. This approach became more holistic to investing as it considered the ESG performance of organizations when making investment decisions. James Gifford is the person to be credited with conceptualizing the concept of ESG in 2013. Grifford’s research paper on ESG was influential in bringing ESG to the business community. His research paper is the first academic work that linked ESG factors to financial performance and equity pricing. The concept of ESG is still evolving, and it’s becoming increasingly important. Investors are in search of organizations with ESG and sustainable practices. Customers are showing a keen interest in buying from companies that are committed to ESG practices. And other stakeholders like employees, suppliers, and communities also demand that organizations integrate ESG into their mainstream business.
Climate change and sustainability are intertwined and have become increasingly important in recent years. This ESG issue will continue to be the top priority in 2023. The sustainability approach has resulted in increased use of renewable resources. The concept of circular economy has also gained traction. A circular economy reduces resource consumption and promotes sustainable production and consumption patterns. Companies must take actionable measures to reduce their carbon footprint and transition into a low-carbon economy. Some approaches could be renewable energy, energy efficiency, and waste reduction.
This is another crucial area for businesses to concentrate on, as customers, employees, and other stakeholders demand that companies honor their commitment to diversity and inclusion. Companies must create an inclusive and equitable workspace for all employees irrespective of race, gender, ethnicity, sexual orientation,and other factors. The conversation related to diversity, equity, and inclusion is rapidly gaining visibility, and it is po-
sitioned to transform and develop further in the years ahead, including beyond 2023.
Our dependence on global supply chains was exposed in the COVID-19 pandemic and the war in Ukraine. Companies must ensure their suppliers are secure, reliable, and high performing. To ensure greater resilience and competitiveness companies need to gain greater control and transparency of supply chains. So that the risks can become manageable, companies will need to ensure that suppliers are sustainable and not contributing to human rights violations or environmental degradation.
Customers, employees, and other stakeholders are increasingly concerned about how businesses collect and store data. Companies need to take steps to protect data from unauthorized access and misuse. Companies must be involved in robust data security measures like encryption, firewalls, data backup, and intrusion detection systems. This would demonstrate their commitment to ESG and responsibility to uphold customers’ and other stakeholders’ data privacy and security.
It is vital for ESG that the board of directors ensure that companies are operating ethically and responsibly. The board of directors must be independent and accountable. A robust corporate governance system can prevent fraud and corruption, improve decision-making, and protect stakeholders' interests. Investors are also increasingly looking for companies with strong corporate governance practices.
It is an investment that aims to generate financial returns while having a positive or environmental impact. Impact investing is becoming popular as investors knowtheir money can positively impact the world. Nowadays, there are many impact investment funds and platforms, and it is becoming profitable. Some impact investments are microfinance, green bonds, and social impact bonds.
Companies can better measure ESG risk and opportunities with ESG data and analysis growth. There is a surge in the supply of ESG data and analytics. Data is being leveraged to generate company ESG ratings and reports. Developing ESG data and analytics will lead to informed decision-making by companies, improve financial performance and mitigate ESG risk.
As ESG becomes more mainstream, we will see momentum toward standardized ESG reporting. The development of new ESG trends and regulations impacts business in different ways- companies must invest in ESG compliance, might have to change their business practices, and rethink their risk management strategies.
• The Taskforce on Climate-related Financial Disclosures (TCFD): The TCFD is an international organization developing a set of climate-related financial disclosures for companies. Regulators around the world are adopting TCFD’s recommendations.
• The Sustainability Accounting Standards Board (SASB): The SASB is a private organization developing industry-specific ESG standards. The SASB's standards are used by companies to report on their ESG performance.
• The International Integrated Reporting Council (IIRC): The IIRC
is an international organization developing a framework for integrated reporting. Integrated reporting allows companies to report on financial, environmental, social, and governance performance.
• The ISSB is an independent organization established in 2021 by the International Financial Reporting Standards (IFRS) Foundation. The ISSB's mission is to develop global sustainability standards that are clear, concise, and comparable. The ISSB's criteria will be used by companies to report on their environmental, social, and governance (ESG) performance.
A research report states that more than 60% of people base their purchasing behavior on sustainability and ethical criteria. Customers are prepared to pay more for ethically sourced, sustainably made products and services. A growing community expectation goes beyond net zero to include a more holistic and broader environmental impact. The ESG performance of companies is a critical metric that figures in customer purchasing decisions.
Over the years to come, significant structural shifts will be witnessed across industries to a net zero economy, and we will faceever-pressing climate and societal concerns. As part of ESG performance, organizations must demonstrate fair treatment and conducive working conditions for their employees across their supply chains. The focus should shift to organizational culture, behavior, employee upskilling, and sustainability programs. As the green economy jobs multiply, recruitment pressures and training will be the major concerns for organizations. Organizations with a robust ESG agenda will have a competitive advantage in employee attraction and retention.
The trends and insights echo the shift toward a new generation of stakeholders inclined to consider environmental, social, and governance factors in investment decisions, corporate practices, and consumer buying. The ESG landscape is rapidly evolving with dynamic expectations and regulations. Organizations must demonstrate high levels of preparedness and adaptability in their ESG journey and pursue sustainability to mainstream ESG. Finally, the goal of ESG is not a mere net zero economy but a thriving and socially sustainable future. Prioritizing ESG principles is crucial for the long-term success of any organization. Corporations must instill these values in their employees and make sustainability a core of their company culture to create a more just and equitable world.
• Business & Human Rights Resource Centre. (n.d.). [PDF] full report: "The Materiality of Social, Environmental and Corporate Governance Issues to Equity Pricing: 11 Sector Studies by Brokerage House Analysts at the Request of the UNEP Finance Initiative Asset Management Working Group." Retrieved from https://www.business-humanrights.org/ en/latest-news/pdf-full-report-the-materiality-of-social-environmental-and-corporate-governance-issues-to-equity-pricing-11-sector-studies-by-brokerage-house-analysts-at-therequest-of-the-unep-finance-initiative-assetmanagement-working-group/
• ResearchGate. (2023, January 19). Universal Owners and ESG: Leaving Money on the Table? Retrieved from https://www.researchgate.net/publication/4989166_Universal_ Owners_and_ESG_Leaving_Money_on_the_
Table
• Smith School of Enterprise and the Environment. (n.d.). Sustainable Finance and Transmission Mechanisms to the Real Economy. Retrieved from https://www.smithschool. ox.ac.uk/sites/default/files/2022-04/Sustainable-Finance-and-Transmission-Mechanisms-to-the-Real-Economy.pdf
• United Nations Environment Programme Finance Initiative (UNEP FI). (n.d.). [PDF] The Materiality of Social, Environmental, and Corporate Governance Issues to Equity Pricing. Retrieved from https://www.unepfi.org/ fileadmin/documents/amwg_materiality_equity_pricing_report_2004.pdf
• Yumpu. (2014, April 14). The Materiality of Social, Environmental and Corporate Governance. Retrieved from https://www.yumpu. com/en/document/view/24456743/the-materiality-of-social-environmental-and-corporate-governance
• ISSB website. (n.d.). Retrieved from https:// www.issb.org/
• IFRS Foundation website. (n.d.). Retrieved from https://www.ifrs.org/
• Taskforce on Climate-related Financial Disclosures (TCFD) website. (n.d.). Retrieved from https://www.fsb-tcfd.org/
• Sustainability Accounting Standards Board (SASB) website. (n.d.). Retrieved from https:// www.sasb.org/
• International Integrated Reporting Council (IIRC) website. (n.d.). Retrieved from https:// integratedreporting.org/
Dr. Mythili Kolluru is an experienced Assistant Professor in the Undergraduate Studies Department at the College of Banking and Financial Studies in Oman. She specializes in Strategic Management, Organizational Studies, and International Business, with a doctorate in Strategic Management. Dr. Kolluru is a certified Strategic Planning Professional and Chief Strategy Officer of FunkeyB, a London-based Management Consultancy firm. Dr. Kolluru's research has been published in several top-ranked journals; she is an author with several copyrights. Contact her at professormythili@gmail.com
Bizemag Media every year onboards interns from different B-schools and Universities for a training on digital marketing. The training is online and varies from 6-8 weeks.
This year, four interns joined for a 6-week online internship from July 01 – Aug 14, 2023.
These are (Pics)
Dr. Vaneeta Aggarwal, Founder Bizemag and the Mentor, Dr. Shubham Saxena, introduced the interns not only to several digital marketing aspects but also trained them on professional grooming as on linkedin, preparing CV, online meeting etiquette, preparing minutes of meeting and using Zoom and Google Meet Apps.
Dr. Shubham Saxena:
As a seasoned professor of Digital Marketing, it's a privilege to share my unique experience of training and mentoring fresh interns at Bizemag. The journey has been marked by mutual growth, exploration, and a shared passion for the dynamic world of digital marketing.
Dr. Vaneeta Aggarwal, founder of Bizemag is very passionate to mentor and train students in latest trending employable skills. Digital Marketing is one of the skills that actually boomed post covid era. She made it clear in first meeting that the internship is a serious task and is not a time passing activity to the interns. She kept a thorough follow up and met interns regularly online to make them aware about the ethics and values about a professional conduct.
My aim was to create a space where interns could feel free to experiment and learn about various aspects of digital marketing from the very beginning. In order to encourage interns to actively engage and contribute to the learning process, we developed an open-door policy for inquiries and debates. The learning environment was transformed into a vibrant ecosystem of information sharing through this participatory technique.
Although the fundamentals of digital marketing are universal, I saw the value of adjusting examples and case studies to the sector that Bizemag operates in. Interns developed a stronger knowledge of how digital strategies translate into the success of a media-focused company like Bizemag by incorporating real-world scenarios into our conversations.
One of the highlights of training at Bizemag was the hands-on campaign development process. Interns were tasked with search engine optimization, social media posting, and executing digital marketing campaigns for Bizemag's content. This not only provided practical experience but also instilled a sense of ownership and pride in their work.
Interns were given chances to cooperate with various departments in order to offer them a comprehensive grasp of the role that digital marketing plays inside a company. They closely collaborated with content producers, designers, and data analysts to understand how their work fit into the overall organizational structure. This exposure to different functional areas broadened their horizons and illustrated how modern marketing is collaborative.
The industry of digital marketing is one that changes quickly. I urged the interns to embrace innovation and maintain their adaptability in the face of shifting technologies and trends. We experimented with different platforms, looked into upcoming tools, and talked about how to prepare for changes in the digital environment.
Interns were given a group project to complete as part of their training that required them to create an extensive digital marketing strategy for a dummy Bizemag campaign. Their ability to apply strategic digital marketing principles and their cumulative learning were demonstrated in this capstone assignment.
The training experience included more than simply knowledge transfer; it also featured milestone and achievement celebrations. Our virtual recognition ceremony featured campaigns and lessons learned from the interns. It was encouraging to see their development and zeal as they demonstrated their expertise in digital marketing.
The interns' training session at Bizemag is just the beginning of my journey with them. I urged them to keep up their learning processes and stay linked through professional networks. I'm eager to see how the industry of digital marketing continues to advance because it necessitates constant learning and skill development.
At Bizemag, teaching new interns about digital marketing has been a mutually beneficial process of development and research. The strength of mentoring and practical training has been confirmed by seeing their development from eager beginning to self-assured digital marketers. Their grasp of digital marketing as well as their future as marketing leaders have been influenced by the interaction between theory, practice, and real-world application.
Dr. Shubham Saxena is an expert professor in Digital Marketing. He has wide range of experience in training marketing professionals, executives and entrepreneurs across India and globe. He has worked with top B-schools like NMIMS, SP Jain and ISB&M. His articles are published in top ABDC journals in the area of digital marketing and he is also serving as consultant to various companies in online media and education sector.
In recent years, the concept of Environmental, Social, and Governance (ESG) has gained significant traction across various industries, including finance and technology. ESG represents a framework for evaluating the sustainability and ethical impact of businesses and investments. As the fintech sector continues to reshape the financial landscape, integrating ESG principles into its operations is becoming a critical consideration. This article delves into the world of ESG in fintech, exploring its significance, challenges, opportunities, and implications for the future.
ESG encompasses three key dimensions that collectively measure an organization's impact:
Environmental (E): This dimension evaluates a company's impact on the environment. It encompasses factors such as carbon emissions, resource consumption, waste management, and the adoption of sustainable practices.
Social (S): The social dimension focuses on a company's relationships with its employees, customers, suppliers, and communities. It includes factors like diversity and inclusion, labor practices, customer privacy, and community engagement.
Governance (G): Governance refers to the framework of rules, practices, and processes that guide an organization's decision-making. It includes aspects such as board diversity, executive compensation, shareholder rights, and transparency.
The fintech industry, characterized by innovation
and disruption, is uniquely positioned to integrate ESG principles into its operations:
Risk Management: ESG considerations provide a holistic view of a company's risk profile. Fintech companies that assess and manage ESG risks are better equipped to navigate potential challenges related to regulatory changes, reputational damage, and market shifts.
Investor Demand: Investors, including institutional ones, are increasingly factoring ESG performance into their investment decisions. Fintech startups with strong ESG practices are likely to attract more capital and partnerships.
Regulatory Environment: Regulators are incorporating ESG into their frameworks, requiring companies to disclose their ESG initiatives. Fintech companies need to align with these regulations to maintain compliance.
While the integration of ESG in fintech offers numerous benefits, it also presents challenges:
Challenges:
Data Availability and Quality: ESG reporting relies on accurate data collection and measurement. Fintech companies may struggle to gather relevant data, especially for emerging areas like social impact.
Scalability: Many fintech startups prioritize rapid growth, which can make it challenging to allocate resources for ESG initiatives.
Regulatory Complexities: Navigating evolving ESG regulations can be complex, especially for fintech companies that operate across multiple jurisdictions.
Opportunities:
Innovation: Fintech companies can leverage technology to develop innovative solutions that address ESG challenges, such as sustainable investment platforms and carbon footprint tracking tools.
Customer Engagement: ESG initiatives can enhance customer engagement and loyalty. Consumers, especially millennials and Gen Z, are increasingly drawn to companies that align with their values.
Partnerships: Collaborations between fintech and sustainable finance entities can create a symbi-
otic ecosystem where technology accelerates the adoption of sustainable practices.
The incorporation of ESG principles into fintech operations will have far-reaching implications:
New Business Models: Fintech startups may develop ESG-focused business models, such as impact investing platforms and sustainable payment solutions.
Regulatory Evolution: Regulators are likely to further integrate ESG considerations into their frameworks, shaping the way fintech companies operate.
Technology Innovation: The intersection of fintech and ESG will lead to innovative solutions that facilitate sustainable investment, responsible lending, and ethical data usage.
Elevated Standards: As ESG becomes a standard criterion for evaluation, fintech companies will face increased scrutiny from investors, customers, and regulators.
Aspiration:
Aspiration is a fintech company that offers socially conscious banking and investment products. They have positioned themselves as a sustainable financial platform by allowing customers to choose how much they want to pay in fees, investing in environmentally friendly projects, and providing tools to track their own carbon footprint. Aspiration's commitment to sustainable banking aligns with the environmental and social dimensions of ESG.
Ethic:
Ethic is a fintech platform that focuses on sustainable investing. They provide financial advisors and asset managers with tools to construct portfolios that reflect their clients' ESG preferences. Ethic's technology enables financial professionals to tailor investments to align with clients' values, addressing both the social and governance dimensions of ESG.
Lendistry:
Lendistry is a fintech company that supports underserved small businesses by providing access to loans and financing. They emphasize economic empowerment and social impact by addressing
inequalities in lending and financial services. By facilitating access to capital for minority-owned businesses, Lendistry contributes to the social dimension of ESG.
Mirova:
Mirova, a subsidiary of Natixis Investment Managers, is a fintech asset management company specializing in sustainable investments. Mirova integrates ESG factors into its investment decisions, aiming to generate positive impact alongside financial returns. Their focus on responsible investment aligns with all three dimensions of ESG.
Qapital:
Qapital, a fintech app, incorporates ESG principles into their platform by offering impact-focused investment portfolios. They provide users with the option to invest in companies that align with their values, such as those promoting clean energy, gender equality, and sustainable agriculture. Qapital's ESG integration contributes to the social and environmental dimensions.
OpenInvest:
OpenInvest is a fintech platform that offers customizable and socially responsible investment portfolios. Users can align their investments with
causes they care about, such as climate change, gender equality, and social justice. OpenInvest's platform focuses on the social and governance dimensions of ESG by empowering individuals to invest according to their values.
Trine:
Trine is a fintech company that connects investors with solar energy projects in emerging markets. Through its platform, individuals can invest in solar energy initiatives that provide clean and affordable energy to underserved communities. Trine's mission addresses the environmental and social dimensions of ESG.
Tala:
Tala is a fintech company that leverages alternative data to provide financial services to underserved populations, primarily in emerging markets. By extending credit to individuals who lack traditional credit histories, Tala contributes to financial inclusion, a key aspect of the social dimension of ESG.
Ellevest:
Ellevest is a fintech platform designed to empower women by providing personalized investment and financial planning services. The company aims to close the gender investment gap and promote financial equality. Ellevest's commitment aligns with the social and governance dimensions of ESG.
Wealthsimple:
Wealthsimple, a fintech company offering robo-advisory services,
incorporates ESG factors into its investment strategies. They provide options for socially responsible investing, allowing clients to invest in companies that prioritize sustainability and ethical practices. Wealthsimple's ESG integration covers all three dimensions of environmental, social, and governance considerations.
The convergence of fintech and ESG presents an unprecedented opportunity to reshape the financial industry while addressing global sustainability challenges. By integrating ESG principles into their strategies, fintech companies can drive positive change, mitigate risks, and create value for all stakeholders. As ESG continues to evolve from a mere buzzword to a fundamental aspect of business operations, the fintech sector stands at the forefront of this transformation, paving the way for a more sustainable and equitable future. The journey toward a more responsible and ethical financial landscape begins with the conscientious integration of ESG principles into the very fabric of fintech innovation.
Apicturesque country - a perfect confluence of modern civilization and natural beauty, canals, coastlines, twins, and villages - Yes, we are talking of Netherlands. Formerly known as Holland, the country boasts some of Europe’s best historical relics and ultimate laid-back entertainment for visitors across the globe. Indulge in the melting pot of art, culture, entertainment, and luxury with a fabulous and exciting Netherlands trip. The place is super easy to get through and lucidly navigable and this ease will make your trip even more happening.
The Netherlands is surprising. It has so much in store for the visitors. Especially if you visit the country during the summer months - the sunny days will help you explore and indulge in unique cover of nature - unheard and unseen before. The bustling cities and the lush green fields - what a perfect confluence for a holiday. The Netherlands is the ideal place to weave your travel stories.
The Netherlands is Europe’s most travel friendly destination. The rules and policies of the country are specially curated to attract global tourists round the year. The country was formerly called Holland which in fact is the name of a specific region of the country. The Netherlands is naturally blessed with the most beautiful and fertile landscape. The country shares its borders with Germany in the east and Belgium towards south. The north and western borders of the country are dominated by the North Sea. Netherlands has emerged to be one of the most crucial junctures for air and sea travel. Some of the most important cities of the Netherlands are Eindhoven, Amsterdam, The Hague, Rotterdam, Maastricht.
While the cities reflect more of a cosmopolitan culture with global vibes and modern city life, the villages across the coast and the naturally tainted beaches are the true bearers of the country’s naturally scenic beauty. The northern part of the country with offshore routes to Friesian Islands reflect more of a rural culture where the local population practices fishing, agriculture, and primitive ways of life. That is such bliss to the eyes.
Moving on to your travel and trip to the country, as most tourists, it is best to get started with Amsterdam. It is the largest city of the country and the site for most attractions of the country. All the luxury hotels, museums, premium shopping destinations and entertainment are found in this city. And here is a shout out call to all the fans of Van Gogh - you can truly find the best of his work at this place. Amsterdam is also known and celebrated for the Anne Frank House. Wherever you go, the country has so much to offer. The most interesting part is the local culture. The Dutch natives are quite helpful and outgoing people who have a friendly nature and their way of expressing love is through hospitality which is a great advantage to the visitors.
While you are in The Netherlands, here are places you simply cannot miss out:
Amsterdam
Situated in the Northern side of the country, this one is undoubtedly the country’s biggest attraction. It offers an amazing package to the tourists - stunning scenic views, vibrant cosmopolitan culture and a happening nightlife adorned with great shopping joints. The must visit places while in Amsterdam are Van Gogh Museum, Anne Frank House, Bloemen Market, Vondelpark and so on. If you are adventurous enough, do not forget to take the canal cruise ride to explore the world’s best shopping destinations.
Rotterdam
This one is the perfect blend of history, art, and culture. If you truly love the art and culture aspect of any country, do not miss out on Rotterdam. It is a globally renowned location for its rich history, culture, and tradition. The major city attractions include visiting historical places and taking boat tours. Do not forget to check out the local delicacies. You can enjoy the fun food workshops.
Ask any tourist who has been to The Netherlands about their favorite spots and bet they would never miss out on this place. The world knows Holland for its cheese and the best place for cheese in the country is Edam. The popular Wednesday cheese market is truly a fantasy. Edam cheese is popularly exported across the globe and is crowned as one of the best cheeses in the world. While here, do not forget to check out the Volendam and Paard Van Museum.
Home to the Dutch administration this city has every drop of modern vibe while retaining the serene primitive architecture. Though Amsterdam is the capital of the country, almost all major administrative tasks including the set of government are in Hague. It has the most happening nightlife ever. Try out visiting spots like Celestial Vault, First Natural Lanzart and Madurodam.
The Netherlands is not truly known for its food and the edible that makes it popular across the world is Cheese. Dutch cheese is the chief attraction for tourists. However, there are certain traditionally celebrated iconic dishes in the country that are a must try:
Hollandse Nieuwe Haring: Pickled Haring fish
Poffertjes: Dutch pancakes that are traditionally cooked in iron skillets and served with melted butter and icing sugar topping.
Sate: It is a dutch take on the traditional Satay sauce that is popular in Asia. You can try it out with rice, beef steaks and so on.
Break and baked products like Apple Flap and Stroopwafel, Tompoes pastry, Pastechi pastry
Appetizers such as Bamischifj (Inspired by the Indonesian noodle fries), Huzarensalade, Bitterballen, Krokets and Pepernoten.
Soups and Stews like Erwtensoep
Variety of Cheese
Tradition and Innovation intertwines in the Netherlands. Right from the awestrucking tulip fields to posh candlelit cages and centuries old architecture - it is phenomenal. A trip to The Netherlands is a once in a lifetime experience that will offer you unadulterated happiness. The coexistence of nature, art and modern pace of life is visionary and is the true reflection of the country.
The ninth month of the Gregorian Calendar marks the summer to fall transition in the Northern Hemisphere. In the Hindu calendar the implications are quite different. This is the time of Autumn that will bring loads of new challenges as well as bright new promising opportunities in our lives. It is time to get knowledgeable and accept life as it comes, without many complaints. September is the time to increase our resilience and patience. Hard work coupled with great planetary influence can truly transform lives in September.
You can expect moderate fortune during this month. The planetary combination during the month is not optimum for any growth and can send some negative vibes in your life. Jupiter is in the first house, that clearly depicts increasing menstrual health issues, stress, and anxiety in life. You may even face severe mental health breakdown, nervous system issues, panic attacks. As for health, beware of skin problems. The retrograde motion of planets in the houses will cause both financial gain and loss but most importantly some unexpected expenditure that might need you to rely on your savings. However, you can expect success and respect in the workplace. The month is ideal for getting married.
Taurus natives will face an average life during the month of September. The months bring along with it plenty of new difficult challenges for the students, but they can overcome the challenges if they work hard. Your health can give you a hard time, especially your gut. Hypertension can also be a major concern. The retrograde motion of Mercury will create a tense environment in the house. There may be fights and arguments. Not only among the family members but also among the couples. The marriage charm and your romantic relationship might be out of equation for some time. Career graph will witness some seriously tough times and business owners are expected to incur property loss.
This one is an amazing month for you. Be it health, career, finance, relationship or education, September brings for you unlimited joy, happiness, and success. You will be blessed with good health. It is the perfect time to get married and expect past conflicts and disputes to be resolved at the earliest. After months of hard work, you can finally expect great career results during this time. There are high chances of some professional tours. Businesses can expect growth and profit and expansion during September.
The position of Jupiter in the tenth house makes this month moderately yielding for the Cancerians. In the career space, you may face some work and pressure and other tiny obstacles. There are also chances of job losses. However, the third house position of Mars also indicates a promotion. Look after your mother’s health. There may be some misunderstanding in the family. Towards the latter half of the month, the love and relationship aspect of life may get better with transparency in communication. You might experience toothache and eye irritations during September.
September is the mixed bag for Leo natives. You will experience the best growth in career aspects. Expect stable health conditions with no major issues during September. However, for students, you might lose concentration during this time that might pull down your confidence for the upcoming exams. The position of Jupiter will restore the lost peace in your life. Family ties and love bonds between married couples will get better during September. Business wonders will experience a stable month with no major losses. You can sign up for new partnership deals. Focus on saving money rather than incurring unnecessary expenses.
Virgo natives will experience a September full of great results. The ninth house position of Jupiter during September indicates a great month health wise. Students will experience an enhanced zeal to focus more on their studies. Saturn is in the seventh house that indicates the onset of a few challenges in your way of success. Family disagreements leading to big fights and arguments are evident during this month. Couples will feel unsatisfied with their internal ties and lack passion in their relationship. At work, you might expect a promotion. September can cause some unnecessary expenses especially for business owners.
It is that time of the month when you can expect a roller coaster ride in your life. Your job place is going to be a mess during this month. Unnecessary mistakes due to increased workload and job pressure will lead to negative job outcomes. Mars in the twelfth house is not a great sign for savings and will invite unnecessary expenses that might force you to take up loans. On the contrary, it's a great month for business owners. You will witness substantial profits and it is also a good time for partnerships. Headaches will be your forever companion during the month. Students may find it difficult to focus on their studies.
The biggest issue during September will be your health. Headaches, digestive problems, sleeping issues, anxiety and so much more. Also, pay greater attention to your mother’s health. Jupiter in the sixth house prevents students from giving their best performance in their academic sphere. Saturn’s position will cause daily disagreements, arguments, and fights. Couples will lose charm in their relationship. It may become difficult for career aspirants even to conduct the minute tasks during this time. The month will make you restless and rob your attention, be sure to stay concentrated and focused.
Mostly positive outcomes will adorn your September. Jupiter in the fifth house of the sign indicates beautiful relationships, peace, and harmony among family members. Venus in the ninth house retrograde motion can cause some conflict among the couples but it would not pose any negativity in the future. You can expect fitness across the month. This is a great time for students to fulfill their dreams of studying abroad. Natives can expect a steady growth in their career and financial aspects. You will experience respect and recognition in the workplace - followed by promotions and income rise. It is a good time for business expansion.
Not a great month ahead. Apply logical thinking at the workplace to get the maximum out of it. There are high chances of traveling abroad as per the need of profession. You might face a disharmonious family life and disturbances in your conjugal life as well. There may be misunderstanding and communication gaps among friends and relatives. Step aside from ego clashes. Students will require greater effort and enhanced concentration for performing better at their workplaces. You may face a hard time with your health - headaches, stress, eye irritations and so on.
September may not be as promising for you as the other months. Workplace and career graphs are not up to the mark. There are several upcoming health issues like back pain, stress and anxiety coupled with headache and hypertension. You may experience diverged focus and inability to fully concentrate on studies or career. Workplace stress and challenges will be on high rise. Unwanted expenses and loss in business might be a cause of the problem. Miscommunication and disharmony among family members may give rise to major issues. The romance between couples will tend to be disrupted with severe arguments.
Tough times await you in September. You will have to face rocky terrain in your professional life. You may even have to look out for other jobs or change professions. Stress, joint pain, cough and cold will give you a hard time. Jupiter’s position during September may cause some challenges in your life. Unnecessary arguments in family will be triggered by the planetary position of Saturn. Stay calm and avoid any unnecessary arguments. Focus more on uplifting the career growth in your life. Couples must work more on their harmony in relationships.
