Sustainability is Simply Smart Business

By Miguel Neves, CMP, DES | Editor-in-Chief, EventMB

During the crisis caused by the coronavirus pandemic, the numerous unknowns that accompany us every day there has, regrettably, been less focus on sustainability in the events industry. I say regrettably because I fundamentally believe that sustainability is necessary for businesses to thrive whether in a pandemic or not.

Sustainably is often misunderstood. Many times, we actually mean ecology when we talk about sustainability. Sustainability is not just about the environment and natural resources. This is part of it, and an absolutely crucial component, but it’s not the whole picture. In-person events create a massive amount of waste, and therefore, focusing on producing less waste and recycling are certainly worthwhile efforts, but we can do so much more.

While the definitions of sustainability and CSR (Corporate Social Responsibility) differ depending on the source, these terms are more or less interchangeable, despite CSR often being used to refer to the social side of sustainability.

Perhaps the simplest way to think about sustainability is using the 3Ps: People, Planet, Prosperity. These three simple words explain the three key areas of sustainability and clearly demonstrate that this is not just about ecology. The 3Ps represent three areas of equal importance, and achieving sustainability largely depends on striking a balance between them.

This definition makes sense to me, but there is more. Ultimately developing a business (or an event) that takes into consideration the 3Ps simply makes good business sense. I would go so far as to call it Smart Business because, if a business is taking good care of its people (clients, suppliers, the community etc.); it’s doing everything it can to minimize its impact on the natural world; and it’s making a healthy profit and helping others do the same, that it is a great business!

We often use the term S.M.A.R.T. as an acronym for "Specific", "Measurable", "Achievable", "Relevant" and "Timely” to formulate goals. Businesses that are sustainable, smart businesses, must measure how well they are doing in the areas of the 3Ps, and so must set S.M.A.R.T. goals and measure against them.

It’s worth noting that while we are working from home to try to keep ourselves safe, many places on the planet are much less polluted than they were a few months ago. The air in polluted cities has become cleaner, popular tourist spots are not so crowded, etc. We have unintentionally created more favorable ecological conditions for all.

As we hopefully return to productive and profitable business activity, we simply cannot forget about these ecological benefits. We also cannot afford to neglect people and the social impact that our work has on all stakeholders. Now is the right time to take an in-depth look at sustainability and make changes to your business and how you work.

A company that really cares about its people, and not only employees, but everyone it has contact with, which acts responsibly towards the entire planet, and generates healthy profits is sustainable. It is also a smart business. Let's not go back to previous habits – especially if they were disproportionately harmful to our planet and society in relation to the benefits they generated. Earning money is a good thing, especially if it allows others to also make a profit.

We didn’t ask for it, but the pandemic has given us an opportunity to restart our businesses. Let's do it right, in a sustainable way that is profitable, as well as socially and environmentally responsible.

Let's work together and run smart businesses.

*For resources to help you incorporate sustainability in your events and organisations, visit EIC's Centre for Sustainability and Social Impact, and Principles for Recovery.

About Miguel

Miguel Neves, CMP, DES is the Editor-in-Chief of EventMB; he lives and breathes the event tech sector and is deeply engaged in the global online community of event professionals. Miguel has been involved in the events industry since 2005 having held previous roles as a planner and playing a significant role in developing the IMEX Group's social media and community management strategy. He holds a master's degree in Conference and Events Management from the University of Westminster and holds both the designation of Certified Meeting Professional (CMP) and Digital Event Strategist (DES). Miguel sits on the MPI's International Board of Directors and is past-Chair of the EIC's APEX Commission.