 So, what's the stakeholder interest in ESG? Is it just that academicians and professors like me are talking about ESG or is the broader interest and push towards ESG? So, the World Economic Forum, which engages with country leaders and private sector leaders and public sector leaders, when they have talked to people and done surveys, what they've clearly heard from the stakeholders are what you can read on the screen. I encourage you to read what's on the screen and what the stakeholders are saying. So, principles of governance, if you read what's on the screen, you'll see the definition of governance is evolving as organizations are increasingly expected to define and embed their purpose at the center of their business. This is exactly what I said in my very first week's lectures. And if you read on, but the principles of agency, accountability, and stewardship continue to be vital for truly good governance principles. Basically, you have to be responsible, the company and the company management and the company board have to be responsible for good governance. And look at the findings on the planet. And if we read on the screen, an ambition to protect the planet from degradation, including through sustainable consumption and production, sustainably managing its natural resources and taking urgent action on climate change so that it can support the needs of the present and future definition. Because we have to keep the planet safe and healthy for our future generations. I have an obligation to protect the planet for the next generation which all of you are watching this video. And you will have an obligation to protect the planet for people who come after 100 years or 200 years. And if you look at people, an ambition to end poverty and hunger in all their forms, in all their forms and dimensions, and to ensure that all human beings can fulfill their potential in dignity and equality and in a healthy environment. So businesses have to contribute to that and prosperity. An ambition to ensure that all human beings can enjoy prosperous and fulfilling lives and that economic, social and technological progress occurs in harmony with nature. What it basically means is that all people are born equal and they should have similar quality of lives. There can be differences, not a situation where some people have everything and some people or many people have nothing. It has to be shared prosperity. So these are some of the verbatim and summaries that came out and was published by the World Economic Forum. So then the World Economic Forum survey also went on to ask the companies and the CEOs and the management to what extent the stakeholders are pressurizing the management on ESG and you can read it for yourself. 77% of the companies came back and said there's pressure from the government and regulatory bodies to comply with ESG and support United Nations SDGs and to work off the triple bottom line, not just the profit bottom line. 75% company says both members and management are pushing for ESG. The top bosses are pushing for ESG. 75% said customers and clients are pushing for ESG because customers want to buy and do business with companies which are responsible, not irresponsible, not polluting companies, not exploiting companies. 72% of companies said civic society, which means media, activists, social organizations are pushing for ESG, 71% said shareholders and investors are pushing, 66% said even competitors and peers are pushing, 65% says employees are pushing, employees sometimes come under pressure because they can't always speak out against the company that they work for. But even then 65% of companies are feeling pressure internally to comply and work in the best interest of ESG, UN, SDGs and the triple bottom line and 55% are saying banks from where they're taking loans and lenders are pushing for ESG. So clearly there's a push, so it's not just an academician or a professor like me talking about it. The wide body of people are aware and pushing for ESG, SDGs, triple bottom lines. But the next question is does it make sense for the company itself, the business itself to work on the ESG framework? And yes it does, why? And look at some data afterwards. Think about it, corporate branding which means how is the company known to the outside world, the perception of the outside world about a company? Is the company seen as a responsible company or is the company seen as a polluting company, exploiting company? So a company which follows and fulfills and meets the ESG criteria gets the benefit of being known as a good company and top line growth. Lot of government contracts around the world, a lot of customers are saying I will do business with this company, I'll give a contract to this company, I will buy the products of this company if this company is friendly to the environment and to the people and the society and it's well-governed. Everybody wants to do a business with a badly-governed company, cheating, fraud, scamming company. So clearly there's a top-line growth potential which means increase sales and revenues. Customer loyalty, there are many businesses which command huge customer loyalty simply because they are seen as responsible and good companies. Let's look at cost reduction. When you build an ESG business plan which means that the factory that you make or the machinery that you buy or the processes that you follow are ESG compliant, automatically there's a realization that also they become more efficient and they become more sustainable and therefore over time the cost may go down. Regulatory and legal risk, I think that's quite obvious because if a company is caught cheating or polluting the government agencies can stop the operations of the companies. Productivity increase, for example if the employees are motivated because they believe they're working for a good company. If you work for a good company you'll feel motivated, more energized, more proud and then you'll work harder and the productivity goes up. Asset optimization which means that plants and machines that you use are optimized because they are running more sustainably, it's probably using less fuel. It's probably using renewable energy which is solar panels or wind power and therefore it's a better plant and a better machinery and if your assets optimize your investment is optimized and if your top line has got that extra boost because of ESG and your cost comes down a bit and your assets and your investments are optimized, investor interest goes up, there are more investors and shareholders who wants to invest in the company and buy shares of your company. So this is what I am saying in this course, is there data? Let's look at two points of data, are ESG investments going up? So versus companies who are ESG friendly focused on environment, social and governance and companies which are not doing as well, where are the investment flowing? And this is a simple chart from Bloomberg and you can go and visit the site yourself which shows essentially that the amount of investment going into ESG businesses in different ways are going up and you can see the numbers, the numbers in billions of dollars and different kinds of investment are flowing into ESG friendly businesses. So investment into ESG is going up from the investor perspective, what are the returns? Are ESG friendly compliant businesses or better performing businesses on ESG parameters having better performance? And here is some data from a McKinsey study, the link is given and you can look it up yourself when you go to the website or do a search on the internet and it says that ESG friendly companies or ESG compliant companies, the companies are doing better on ESG parameters. The positive findings are 63%, you can see it yourself and the negative findings are 8%. Essentially what it means is ESG proposition lead to better returns on the investment and the source is quoted below, you can look it up for yourself. As I come to the end of this module and actually the end of the course, I would now like you to reflect on two or three things, first today you may be a student or a young employee in a company or an aspiring entrepreneur but trust me in 10 years, 15 years, 20 years down the line, you will probably be a senior manager running your own business, you may be a professor but for sure you will be in a senior position and as you head a business or run your own business, my request to you is please do not look at only the profitability of the business or the operational aspects of a business, the new products, the manufacturing or the quality or the finance or the accounting but when you reach the top position, look at the broader aspects of United Nations SDGs. How can you as a business leader contribute to lowering poverty, lowering hunger, increasing health, reducing discrimination, reducing pollution, improving quality of life, how can you do that as a leader 10 years, 15 years, 20 years down the line and I would like you to start thinking from now by doing the following exercise. If you are a student think of a company that you want to join, if you are already an employee think about the company you are working for and if you are an aspiring entrepreneur, look around for businesses where you want to start your own business and do a search on the internet and see if your dream company or your current company publishes its SDG program or ESG program, normally all good companies will have a page which talks about their SDG or ESG program, look it up and when you look it up, look at what impact that company, your company is having today on society, on the environment and how is the reputation of the company and does the company have an illegal issues. I encourage you to write it down in your journal and then start creating a dream that starting today, 5 years, 10 years, 15 years, 20 years, 30 years as you end your career, make an impact on the planet, a positive impact, make a positive impact on society and also build a highly profitable business. So please reflect. So with this we come to the end of this module and this is the last module of the course. Thank you very much and I enjoyed having you with me in this course and there will be a final module which will recap the entire course. It will be a quick recap for you and with some ideas what you can do on the way forward. Namaskar. Good luck.