From the Chair: 9 March 2022

In this week's #MEAExpress, MEA Chairman Michael Firman spoke about sustainability in the events industry, and asks the question; what kind of industry do we want our emerging leaders to inherit?

Last week our CEO Peter McDonald reflected on inheritance and the importance of leaving a better everything for those who come after us. Most of us see inheritance as an act of receiving, but I think Peter was really talking about the act of giving, being able to leave something behind for the betterment of those that come after us.

Generations of children have questioned the state of the world left behind by their parents and those that came before them. The Industrial Revolution saw a major increase in population and led to the depletion of natural resources. The use of chemicals and fuel in factories resulted in increased air and water pollution and an increased use of fossil fuels. But it also brought about economic prosperity and an improvement in living standards. How do you balance economic prosperity and environmental sustainability in the modern world?

In 1992, at the United Nations Earth Summit, more than 178 countries adopted a comprehensive plan of action to build a global partnership for sustainable development to improve human lives and protect the environment. By 2015, all United Nations Member States adopted the 2030 Agenda for Sustainable Development, a blueprint for peace and prosperity for people and the planet, for now and into the future. At its heart are 17 sustainable development goals that include ending poverty, improving health and education, reducing inequality and encouraging economic growth, all while tackling climate change and working to preserve our environment.

The world is a complicated place and, as the meetings and events industry gets back on its feet again, we need to always consider our actions today and the impact they may have on our future and that of our industry.

So how do we address sustainability in the events industry? How do we leave behind an industry that will survive the next world event or economic crisis?

Sustainability is often associated with preserving the environment. Our industry impacts the whole ecosystem: the environment, the organisations and people who live and work within it, and those that participate in events. Sustainability is simply defined as meeting the needs of the present without compromising the ability of future generations to meet theirs. It has three main pillars: economic, environmental, and social.

The events industry is already acting to decrease waste and increase efficiency through deliberate efforts such as reducing food and energy waste and increasing energy efficiency. By being more aware of our impacts and how they manifest we can take deliberate action and in doing so become more accountable. As industry professionals we need to be more aware of the suppliers, materials and venues we utilise and how they impact the environment.

Economic sustainability relies on diversification of revenue, optimisation of expenditure, better management of finances and less reliance on others. We can’t expect a hand-out from government each time there’s a pandemic or financial crisis.

Social sustainability is about promoting wellbeing and understanding what people need from the places they live and work. Individuals seek a work-life-balance, a term that relates to achieving harmony between the different aspects of your life such as finance, health, and a balance between working time and personal time.

Having more qualified and informed staff to deliver events can sustain a business through difficult times. There seems to be such a shortage of skilled people in our industry right now with the right qualifications and necessary experience to deliver events. This needs to be addressed for the future sustainability of our industry. MEA is a strong advocate for education and upskilling the next generation of leaders. Nurturing responsible leaders will help shape a more sustainable industry that has lasting value and equitable benefit for all stakeholders.

I believe that the leaders of our industry recognise the need to act. Sustainability is an investment in our future. Operating sustainably can be a source of competitive advantage especially if business can deliver greater financial value together with positive environmental and social impact.

However, ambiguity around sustainability performance will have a negative impact if leaders do not invest in their employees, as they are key change-makers in most organisations. Sustainability should not remain a second-tier priority for business.

Sustainable organisations are purpose-led businesses whose leaders inspire their people and are more likely to deliver lasting financial success, positive environmental impact and societal value that earns and retains the trust of all stakeholders.

What kind of industry do we want our emerging leaders to inherit?