The Green Dividend: Unlocking Cost Savings Through Sustainable Events
October 18, 2023
Exclusively sponsored by Honeycomb Strategies
When Honeycomb Strategies talks to planners and venues about sustainability, the first challenge we hear about is cost. Naturally, to start up any operational change requires investment. But it’s a myth that sustainability is more expensive than operations-as-normal. In fact, we’re increasingly seeing cost savings from sustainable practices both in the short and long term.
Let’s start with some sustainable solutions with short-term benefits for event planners. To reduce energy costs, contract with venues that have undergone improvements and retrofits for climate control, lighting and appliances. Venues may pass along lower utility costs or offer enhanced packages at the same price point.
When it comes to signage and décor, design for reuse. Avoid using dates or seasonal hashtags on decorative materials. For a unique centerpiece, craft upcycled materials destined for the landfill. Speaking of landfill…while every venue is different, organizers are often charged for hauling trash, but not recycling or compost. By eliminating virgin production and renting rather than purchasing, you’re reducing waste and lowering your costs. And source local to minimize transportation of heavy materials long distances and save on freight costs and carbon emissions.
Digital ticketing, mobile apps and online registration reduce paper materials so planners can dramatically cut printing costs while also reducing their environmental footprint. Plus, with digital communication you can send out updates in real time, eliminating costly last-minute reprints.
In the long term, sustainable investments today can yield lasting financial benefits. Consumers are increasingly conscious of environmental and social issues. By aligning with sustainability values, event planners can attract a loyal audience appreciative of their commitment to change. This can translate into higher attendance, increased brand loyalty and a positive impact on the bottom line. Sustainable investment is a surefire way to increase the value of your brand reputation, opening doors to skyrocketing sponsorships and audience and exhibitor retention.
In addition, waste reduction and responsible sourcing mitigate the risk of regulatory fines and legal liabilities from environmental non-compliance, safeguarding against future financial setbacks. Stay competitive as innovators by debuting technology and showcasing circularity that lower operational costs and attract forward-thinking, conscientious consumers.
Sustainable event planning isn’t a trend, it’s a strategic choice with both immediate and long-term cost savings. From trimming expenses to building brand value, sustainability proves to be a winning financial strategy for event organizers.
Honeycomb Strategies specializes in impactful solutions for sustainable events and venues. Visit/reach out to: www.hcsustainability.com Hello@hcsustainability.com
Partner Voices
MGM Resorts is renowned for its exceptional service and diverse venue options across Las Vegas, Detroit, Springfield, National Harbor, Biloxi, and Atlantic City, providing flexible spaces for meetings of any size. Beyond these offerings, MGM Resorts distinguishes itself through a strong commitment to social responsibility and sustainability, making it an ideal choice for your next meeting.
At the core of MGM Resorts' company values is its platform, "Focused on What Matters," dedicated to meeting customer needs while advancing socially responsible practices. This commitment is evident in several key areas:
Protecting Natural Resources
MGM Resorts is home to industry-leading recycling, renewable electricity and water conservation programs. Some highlights include a cogeneration power plant at ARIA, producing ultra-efficient electricity; one of America’s largest contiguous rooftop solar arrays atop the convention center at Mandalay Bay; and onsite wells that provide water for the celebrated Fountains of Bellagio, avoiding reliance on precious Colorado River water. These efforts and many more save on natural resources while boosting attendee satisfaction.
Committed to Community
Always striving to be good neighbors, MGM Resorts works to avoid food waste and combat food insecurity with the Feeding Forward program. In partnership with local food banks, they safely divert unserved food to food insecure members of the community. Since 2016, over 5 million meals have been provided, highlighting MGM Resorts' commitment to minimizing food waste and addressing community needs.
MGM Resorts supports clients in their responsible-meetings efforts, not only with efficient venues but also waste-reducing décor and signage; sustainable food and beverage options; and outreach to help planners communicate sustainability efforts to attendees. What’s more, they offer a Mindful Meetings series that puts attendee wellness first—through fitness and mindfulness activities, and in give-back events with local charity organizations.
Fostering Diversity & Inclusion
To MGM Resorts, a diverse and talented workforce is essential to success. By cultivating innovative strategies that consider multiple perspectives and viewpoints, the company creates an inclusive workplace culture that benefits its employees and community. MGM Resorts takes pride in being a welcoming home for veterans, individuals with disabilities, people from diverse backgrounds, LGBTQ+ community members, and more. This commitment to inclusion is reflected in the company's recruitment and hiring practices and its social responsibility initiatives. From the workplace to the community, MGM Resorts' commitment to diversity, equity and inclusion remains unwavering, and its efforts continue to create a more equitable and sustainable world for all.
MGM Resorts offers unparalleled service and venue options while standing out for its proactive approach to sustainability and community engagement. Choosing MGM Resorts for your next meeting means aligning with a company that values social responsibility, efficiency, and attendee satisfaction, ensuring a meaningful and impactful event experience.
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