Tourism Minister Ed Bartlett - file photo
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Tourism Minister Edmund Bartlett has signaled that changes are coming to improve the tourism industry, particularly in respect of guidelines for new investments.
In that regard, he's warning that investors will need to meet certain requirements in order to secure approval.
Discussions with them regarding their investment proposals "will take into account the impact (on) the environment, the impact on the social development within the area and the governance within the area," he said.
Environmental, social, and governance (ESG) is a new business standard or auditing framework.
Considerations are increasingly being integrated into investment analysis.
ESG is also a line item on balance sheets for some companies as part of their metric to assess performance, as well as the risks and investment opportunities of their securities.
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