The events industry is buzzing with discussions about sustainability and its impact on event planning. Two prominent frameworks in this realm are the triple bottom line (TBL) and environmental, social, and governance (ESG) factors. TBL evaluates a company's impact on people, profit, and the planet, while ESG focuses on specific criteria related to environmental, social, and governance sustainability. Investors utilize ESG to assess the risk and potential return of investments.
Both TBL and ESG play crucial roles in measuring a company's sustainability, making them essential considerations in event planning. As a third-party event planner, my approach is to build sustainability goals based on the triple bottom line and utilize ESG reporting to support these efforts. By combining these frameworks, we can effectively hold all stakeholders accountable for sustainable practices.
The Evolution of Event Sustainability Sustainability in events has come a long way from simply placing recycling bins and hoping for the best. Today, it involves educating clients about their events' impact, providing information on sustainable practices, and supporting their implementation. In the wake of world events and the shift to virtual meetings during the pandemic, businesses reevaluated their priorities. With the return to in-person events, there's an opportunity to start anew, aligning events with a company's modern-day mission. Clients now consider multi-faceted sustainable event strategies, and the triple bottom line is taking center stage.
Responsible Event Planning and Compliance As sustainability gains importance, the number of events with a sustainability focus is increasing. However, the real growth lies in integrating sustainable strategies into everyday events. Companies are hosting events with business goals in mind but in a more responsible manner. Planning now considers the impact on investors, partners, attendees, workers, the local community, and the planet. A successful sustainability plan outlines priorities, performance indicators, and the metrics to measure success.
Do Sustainable Events Cost More?
Clients often wonder if they need to increase their budgets to support sustainable efforts. While a larger budget can create a bigger impact, it's not a necessity. Sustainability is about being maintained at a certain rate or level, not about excessive spending. The focus should be on responsible resource allocation and strategic planning.
The Sustainable Event Experience Event sustainability goes beyond minimizing waste—it's about creating a memorable experience. Reducing excess décor, food, and giveaways might seem like it would make events less exciting, but it can enhance your brand image as an organization that values positive impact. The key is to make the event experience informational, inclusive, culturally positive, authentic, and filled with camaraderie—qualities that resonate with the next generation of event attendees.
Effective Communication is Key In any sustainable event strategy, communication is vital. Engaging stakeholders from the start, maintaining their involvement throughout the event, and sharing results afterward are crucial to success.
Embracing sustainability in event planning allows us to shape memorable experiences while making a positive impact on the environment and society. As the industry continues to evolve, integrating the triple bottom line and ESG principles will be instrumental in creating successful and responsible events.