UKEVENTS’ UK Events Report 2024 is out, and it has been revealed that corporate events generate £33.6 billion annually for the UK economy, which is £5 billion more than leisure and outdoor events. In such a large market, how does sustainability influence and impact decision-making and future trends?
Commitment to ‘carbon neutrality’
The report showed that the industry’s commitment to sustainability is certainly rising, with many professionals actively pursuing sustainable practices and opting for eco certifications, such as ECOsmart. Achieving ‘carbon neutrality’ and enhancing sustainability reporting are top priorities, particularly for international events with significant travel components.
From the report, we gathered a growing focus on sustainability, with an increasing emphasis on carbon neutrality. This is slightly contradictory to the focus on net zero goals that we have seen, which largely aim to adhere to the government’s target of net zero by 2050. Organisations must understand the difference between carbon neutrality and net zero as the former is not as good for the environment as you may think. Carbon neutrality involves emissions being created and then being compensated (typically through offsetting) whereas net zero means no emissions are created in the first place. In the future, we’d like to see a move away from neutrality and a strong focus on net zero.
Organisations in pursuit of achieving ‘sustainability’
A study by the International Congress and Convention Association noted, “It is encouraging to note that most survey respondents (83%) are actively pursuing sustainability in executing their event practices. Only a small segment of respondents falls into the category of having no established policies or sustainability efforts.” This is an interesting statistic as ‘sustainability’ is a broad term and can suggest any practice from recycling to becoming carbon negative. In future studies, it would be beneficial to recognise what practices are in place to understand the level of commitment to being sustainable.
75% of rightsholders (individuals or groups whose human rights are or may be affected by business activities) viewed the UK as a sustainable event host believing that the UK is committed to environmental sustainability, with some noting, “We feel that if we brought an event to the UK, [environmental sustainability] would be a focus.” Therefore, there is an opportunity to make destinations around the world aware of the work the UK does to help build the UK’s brand in this area. During the consultations, it was recognised that environmental sustainability isn’t something that has been ‘conquered.’
Intriguingly, this report has identified sustainability as conquerable, but it’s rather the opposite. There’s no one end goal, and it can’t be ‘achieved’. In the race for a sustainable future, there is much more we can all be doing to lessen the impacts of climate change and protect our people and planet. However, organisations can realise their own green goals which Greengage can support through eco certifications, training, carbon measuring, and much more.
Client demand for sustainable initiatives
In the report there is a reference to the UFI Global Exhibition Barometer Survey from January 2024 which stated that “Sustainability / Climate” combined with “Other stakeholders’ issues” is the fastest growing issue, tripling from 4% of answers in 2016 to 13% in 2024. This is showing through client RFPs as there is a much higher demand for measurable sustainable practices and a devoted commitment to every area of ESG. Our ECOsmart certification provides an in-depth report into your organisation’s sustainable practices and encourages you to keep the momentum along your sustainable journey to continue reaching your client’s requirements.
The future of sustainability in corporate events
The IACC published their latest “The Meeting Room of the Future” Report38, which investigated Sustainable practices offered by venues: Of the venues surveyed, the research discovered: that 88% have a programme to reduce the consumption of single-use plastics, 83% have a formal plan to manage food waste, and 78% offer environmental/sustainability certification. This is a positive step forward in sustainability in corporate events and we are pleased to see venues taking positive action.
According to What’s New in Meetings and Events 202437 organisations continue to face increasing pressure to enhance sustainability reporting and metrics, with a growing focus on responsible practices and compliance with sustainable standards. The need for standardised reporting that encompasses diversity, equity, and inclusion aspects highlights the industry’s shift towards more conscientious and sustainable event planning practices.
Unsure of what this means for your business? Get in touch with our expert team who can point you in the right direction to achieve certification, get in-depth team training, begin measuring your carbon footprint, and everything in between.
