 So, in the previous few session we have discussed about like the green supply chain, what are the different opportunities, what are the different way we can bring the sustainability agenda or the sustainability issues into the each loop of this product life cycle chain and also we have seen what are the different regulations. So, if we see the both the intervention in the supply chain and regulation in the other hand. So, it gives us a message that there are two way we can address the sustainability issues or mostly the organization they do it in two way. In one, they try to make the changes in the every loop wherever possible to bring the sustainability agenda or bring the sustainable practices or few of the organization they keep waiting for the regulation that if the regulation is guiding them to do that or the regulation is directing them to do that, then only they incorporate the sustainability agenda in the product life cycle chain. Now, with the organization they do it, so any changes, any intervention we know that it has few inherent risk and also it is not only about risk, it also gives the opportunity for the organization to do a value creation. So, if you remember in the very beginning when we started the course, we discussed that how each intervention whatever is being done for this to incorporate the sustainable practices or for the sustainability, it will lead to it will create some value. So, in this session we will see that when the organization when they are addressing the sustainability agenda or if they are not reacting to the sustainability agenda or if there are regulation associated with sustainability that is coming into existence that is coming into actions, what are the different kind of risk typically the corporate they are facing and also what are the opportunity that can be created from this risk and also we will try to see few examples where the startups the new business opportunity have emerged because of this risk what are associated with the sustainability or what are associated with the climate change. So, to start with now let us understand what are the risk factors over here. So, this has been categorized into 3 or 4 type of risk, so the first one is the product risk. So, if the organization if they are not addressing the sustainable agenda or they are not changing their process, they are not changing the inputs associated with the product at some point of time there will be reduction in the quality of the few materials because of the environmental change. And if no steps being taken to make products sustainable or if you are not looking for the better quality of inputs or we are not looking at what are the other alternative material that can be used and these materials are changing because of environmental change then if no steps are taken then there would be reduction in the quality of the few materials. And when there is a reduction in the quality of the materials those are being used in the product the regulator may prevent from producing. And at that point of time it will require a costly redesign to meet the sustainability standards and possibly the first 3, first one and the third one it is will have the implication of the cost, but if you look at that when regulators may prevent to produce this will bring that loss of the popularity in the market and because then it would be known as that the organization would be known as that they are having a displaying the poor environmental standard because regulator have stopped them producing a specific product. So, these are some of the product risk associated if the organization they are not addressing the sustainability agenda then the second risk what is associated with this is the financial risk. Now the first kind of the first category of risk comes under financial risk is the risk of legal expenses whether it is related to penalty whether this is related to non-compliance whatever the expenses or the lawsuits these are the part of the finance if you are not meeting the standard. Then compensation for the environmental and human damage fine and other penalty for breaching the regulation and in this process there would be increase insurance cost because there is a whatever the image or whatever the perception about the organization it has changed and because of that this will increase the insurance cost. And the next category of risk is operational risk it increase cleaning up cost and compensation it will reduce profit because whatever the benefit they would have got because of the cost saving associated with the environmental friendly business they will miss that and that will lead to reduction in the profit. Then there is there are also evidence that how typically the natural event or the environment hazards that derail the production process and typically in term of the physical risk what they pose to the organization and the regulatory risk may impact the bottom line of the business. Then the last one is the reputational risk and this reputational risk is typically the points what comes under this reputational risk or the items which comes under the reputational risk is that possible damage to the firms image from the bad press and public outage and also the because of there is a because not meeting environmental standard or not addressing sustainability agenda there is a damage to the image and whenever there is a damage to the corporate image that affect the relationship with the shareholder and that may lead to the potential shareholder reaction which is not positive. Now, why to mitigate risk? So, we know that these are the risks what the businesses they are going to face, but why to mitigate this risk there are some internal factors there are some external factor. Internal factors is that then we supply chain disruption if you are not looking at or we have not thinking to mitigate the risk and also it will impact the company culture and these two is the are the most important issues in driving the change. External factor mostly with the regulatory change, stakeholder and shareholder pressure and stakeholder shareholder pressure in incorporating sustainability in their day-to-day business and also the regulatory change these are the two main external factor which needs to take an action or intervention to mitigate the risk associated with this. Now, here it has this is a nice article by Joseph Hold and the way he brought the entire sustainability the risk associated with sustainability in business for the way he brought out the opinion that sustainability in business is more of opportunity than a threat. And why it is so because company addressing sustainability will have easier time attracting the patient investor with a great willingness to wait for the return of capital. So, although it is true that you may not find investor it is it is not easy money when you when the return of capital comes in the long term not at the short term possibility is not easy to get many investor investing, but the patient investor who has the willingness to wait for the return of capital it is the it is the easier time or the easier way to attract those group. Then sustainability represents the source of innovation the environmentally socially economically sustainable future is only achievable with historically unprecedented amount of the innovation. So, sustainability always is the source of innovation then integrating sustainability more deeply into companies overall strategy is a great way to grow both the top and bottom line. I mean one way you talk about the product what gets into the market possibly the product itself and in the when he talks about the bottom line it starts from the the from the designing or from the sourcing of the raw material. Then going credibly deeper shade of green is always a good move for the company that want with the employer of choice because employee prefers to care about the issues and want to work for the company that share that concern of the sustainability. So, typically the young population when it is about a choice that where they would like to work possibly they will always prefer a company they will always prefer a organization where the employee is engaged for a bigger cause that is for the sustainability agenda and better employee engagement. Take a hint from the previous slide what we are discussing that it is more of opportunity. So, if you look at regulation that is the factor which triggers that the the organization to should take the sustainability initiative. Now, let us see because of this regulation what are the opportunity it may come to the organization. So, opportunity providing new product and service to the consumer the typical example can be environmental friendly product it is business opportunity for the financial product. So, entire arena of green product the green bond green instrument it should be rather than green product it should be the green financial instrument and green investment. Then emergence of new business area like Google earth and the other product energy efficient product low carbol solution or the sustainability startups how you make the product from the waste or how this can be recycled one these are the new business area that has laid out that that has come from the regulation. Apart from apart from this then we have few market opportunity like since there is a demand for our increased resilience there is a increased demand for product and service is suited to the new climate. So, you will find that since the temperature is increasing above 50 degree you need or above 40 degree you need the product with respect to heat resistant. It is since and also the way the there is a unpredictable rain and what to say the climate is changing with respect to the and accordingly the rainfall pattern is changing. Then the demand for waterproof then there is a shortage of water there is a shortage of power. So, this is the entire dependency on products which is not dependent on water or power that typical example of the alternative energy that is with solar. Then demand for climate risk solution that is monitor measure provide expertise drainage greening the project and insurance. So, if you look at this climate risk solution this is the opportunity which has come to many stakeholder like to start with insurance. So, there is now a flood insurance there is now whatever the drought insurance what we get. Then also greening the project where you need the help of engineer when you need the help of the consultant we will provide the expertise. Then the drainage then also you will find many adaptation project where you need the help of the technology you need the help of the skill of the engineering you need the help of the expertise and also monitoring and measuring the risk associated with this. So, this is giving the emerging business opportunity for almost all the stakeholder and when you go to carbon also you will see that many organization they have also started there from the core they have moved to that providing a low carbon solution or providing a consultancy opportunity to those organization who wants to move to the low carbon solution. And since there is a changing change of taste lifestyle and consumer behavior there are the opportunity over here is about the food the typical example is that you take the organic food where there are not chemical or pesticides the drink and also exchange it to recision because there is a change in the climate and because of that whatever the regular weather that have changed for few of the places. And in case of production opportunity the existing process can be more efficient there can be extended growing season fewer construction stoppage and also it may give opportunity of a new process like use of cold and hot sensitive equipment new crops locally sourced exotic fruits these are the new business opportunity and also adopting better to the threat that is feasibility and R and D of new product technology and new marketing activity. Now let me give you few examples mostly in the area of the startup the new business when I say sustainability startup and how they have created a business and how they have created a value out of the waste. So the first example is helpers green and they are into preserving river Ganges from becoming the religious sewer by flower recycling from the waste from temple and the musk and they have developed that into a patented lifestyle product providing livelihood to 12000 rural family. So almost 2.4 tons of waste flower and 97 kg of toxic chemical prevented from getting into the river Delhi and the waste is handicraft by rural women self help group and into a patented organic fertilizer and incense ticks. So the value of organization is 40 million UST this is this is to start with when they have started with and now the valuation has increased further and the value for society is that till now they have recycled 1060 metric ton of temple waste flower they have 110 metric ton chemical pesticide they have offset because of that they have given a direct livelihood income increased by minimum 6 times to those family those who are those who have engaged there increasing the standard for living of women worker and making them economically independent that is predictable and regular income and the project has attracted interest across the country the silencing the issues of the temple flower disposal. The second example what I am going to show you is that this is the example of gravity lab and this is a carbon capturing startup in the world and only such startup in India when it was started they create the paint and ink from the pollution itself. So directly from the vehicle pollution they create the paint and ink they build a contraption that gets connected to the exhaust of the tailpipe of a vehicle collect the raw carbon and then they follow a purification process successfully converts this air pollution into the printing in the same procedure can be done for chimney or boards to collect the effluence and then convert that into the ink and the ink what they have created that is air ink which is known as Karlink it is a patent they file a patent pending retrofit technology used to capture the air pollution particulate which is then processed into making the air ink air ink this specific air ink. So, there is a different there is a very different or very different calculation what they have done is that from the pollution of 1 bike for 40 minutes how much amount of ink can be created or from the pollution of car which is travelling 8 hours how much ink can be created from that specific vehicle. This is the value for the organization they started with 8 crore INR in 2006 as said and the current valuation is 120 K US dollar and value for society is that till the till now they have produced 20,500 litre of air ink and they have upset the carbon by 700 tons. The third example what we will take over here is that impossible burger and this discovering the main focus of this product is that discovering healthy sustainable newer ingredients from nature and even new ways to make the meat we crave directly from the plant. So, this is a plant based meat burger and they use 95 percent of less of land, 74 percent less of water and create 87 percent less greenhouse gas emission. The burger that is all natural ingredients such as sweet coconut oil and potato and whatever the magic ingredient him this is the basic building block of life on earth including plants but it is uniquely evident in meat. They discover that this makes the meat smell, sedge and taste gloriously meaty and they consider this as a magic ingredient that makes the burger into the carnivorous drink. Their plant is in Oakland capacity to produce 1 million pound of plant based meat per month and after serve 1 million quarter pound impossible burger per week. The value for the society is they are feeding generation to come the plant based meat burger and the way the world produce meat today is taking a toll on the planet and according to the livestock researcher animal agriculture use 30 percent of all land, 25 percent of all freshwater on the earth and create as much as greenhouse gas emission as all of the world's car, trucks, train, etcetera combined. So, impossible burger each are made entirely from the plants without any destructive impact on the livestock so that the present and future generation will be able to enjoy a good face and burger for a time. So, what we have a discuss in this session is that we have looked at what are the risk that is that is that may come to the organization if they are not following the sustainable practices or if they are not reacting to the regulation but the risk there are pressure to mitigate the risk and that can create opportunities, opportunity in term of new product, new process, new business opportunity and also there we have seen the examples of these startups which mainly coming out of those sustainability concern and they are providing value to the society and also value to the organization. Thank you.