DILIGENT MEDIA CORPORATION LIMITED
Climate Impact & Sustainability Data (2020-04 to 2021-03)
Reporting Period: 2020-04 to 2021-03
Environmental Metrics
Climate Goals & Targets
Environmental Challenges
- COVID-19 pandemic and ensuing global economic downturn severely affecting various industries including the Media sector.
- Shift/volatility in consumption patterns for the Company's products due to the resurgence of the COVID-19 pandemic and economic downturn.
- Discontinuation of printing and publication business since October 2019.
- Recovery of old receivables from discontinued operations.
- Sale of Print Media assets.
Mitigation Strategies
- Concentrating efforts to build and grow the Online News Media business.
- Additional efforts towards recovery of old receivables.
- Initiating steps for completion of necessary formalities for executing a Settlement Agreement with workers at the printing press.
- Active steps for selling Printing Press assets.
- Collaboration with Rapidcube Technologies Pvt Ltd for sale and marketing of Digital News Media content.
- Outsourcing activities other than content creation.