In recent years, the need for businesses to prioritise sustainability has become increasingly apparent. The recently published International Panel on Climate Change (IPCC) report highlighted the urgent need for action to mitigate climate change and protect the planet for future generations. It gained traction across the world, highlighting that all individuals and companies need to start taking better consideration of their actions and their effects on the planet. One way businesses can contribute to this effort is by investing in sustainable events. Sustainable events not only benefit the environment, but they can also have positive impacts on a business's external image and internal operations. In this article, we will explore why investing in sustainable events is worth it for your business.
A sustainable event is one designed and organised to meet two key objectives: to minimise all potential negative impacts on the environment and to leave behind a beneficial legacy for all involved. By choosing to work with companies that prioritise green alternatives, companies demonstrate a commitment to equal opportunities, inclusion, and environmental awareness.
Hosting sustainable events directly contributes to environmental sustainability by reducing waste, water and electric consumption, air, noise, and light pollution, and by choosing fairtrade, organic, or minimising meat consumption and reducing food waste. These choices all contribute to accelerating climate action and externally enhance a brand’s ESG (Environmental, Social, and Governance) commitments, contributing to a more ethical and equitable world.
Moreover, companies that align their values with ESG considerations can improve their overall financial performance. Even small efforts towards sustainability have been shown to improve a business's ROI (return on investment). A recent report revealed that 90% of executives said that ESG spending led to moderate or significant financial returns. Similarly, according to a McKinsey meta-analysis, 70% of companies studied found that investing in their business's ESG impact created an overall positive business impact.
Investing in sustainable events and company practices directly correlates to important internal business measures. There is a growing body of research indicating that aligning a business with sustainability agendas increases employee well-being, happiness, and retention. Investing in sustainable events fosters a shared sense of environmental awareness and responsibility, both internally and externally within the business.
In summary, hosting sustainable events contributes to the wider “window of opportunity” to secure a sustainable future while also enhancing a business's external and internal measures. By investing in sustainable alternatives and solutions, businesses can demonstrate their commitment to equal opportunities, inclusion, and environmental awareness, and contribute to a more ethical and equitable world.
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