Sustainability is a growing expectation for events and shows. It has spurred a high level of innovation in the sector, including practices to reduce a show’s carbon footprint, better manage materials, support inclusion, and increase transparency.
Return on Carbon
With new regulations regarding carbon disclosure and climate impact reporting, more organizations are measuring and reporting their carbon emissions. As part of this, they are also setting carbon budgets and using them as a decision factor. As a specific example, many organizations consider the emissions related to participating in events when deciding to attend and whether a sufficient carbon budget is available to support it.
A key and sometimes overlooked aspect of carbon budgeting is understanding the “Return on Carbon” and how it can be improved. Much like return on investment (ROI), return on carbon (ROC) is a profitability measure that allows for comparisons between different opportunities. For example, the carbon emissions from participating in a show may be similar to those associated with traveling to meet a single client. However, the impact of meeting several current and prospective clients in one location could result in much higher profits.
This raises the question: How can we improve the Return on Carbon for shows and events? One way is to reduce emissions or increase profits.
A few practical ways to reduce emissions are:
Providing pre-show training can be particularly valuable in improving exhibitor profits. This is especially important in a post-COVID environment, where the workforce composition has changed, and you may have several first-time exhibitors at your show. Some new exhibitors may have spent much of their formative professional years in a primarily virtual environment and will benefit especially from this training.
Areas to cover in your exhibitor training include:
Materials Management
Promoting Diversity, Equity, Inclusion and Belonging
Transparency
The credibility of sustainability claims is essential for building consumer confidence. Look for suppliers with verified programs and consider certifying your event. The Events Industry Council Sustainable Event Standards program offers third-party certification for events with exhibitions and suppliers. GES has been certified at the Silver level, which is the highest award to date for a general services contractor. EIC also offers a Sustainable Event Professional Certificate for those interested in learning more about sustainable practices. Visit eventscouncil.org for more information.
Author: Mariela Bazán, CMP Fellow, CMM, MBA
Chief Sustainability Officer, EIC Centre for Sustainability and Social Impact
SVP Industry Advancement, Events Industry Council