DEI: Diversity, Equity and Inclusion Is Sustainability. Here’s Why

March 5, 2024

Exclusively sponsored by Honeycomb Strategies.

The United Nations 17 Sustainable Development Goals, adopted in 2015, “recognize that ending poverty and other deprivations must go hand-in-hand with strategies that improve health and education, reduce inequality, and spur economic growth – all while tackling climate change and working to preserve our oceans and forests.” If that sounds like all-encompassing, world-changing rhetoric… well, it’s the U.N. That’s their job. 

But it’s our job as sustainability consultants to help our clients ladder up to the U.N.’s lofty goals. And in doing so, we are often challenged to explain why we include diversity, equity and inclusion (DEI) in our sustainable measurements of events, venues and organizations.

Simply put, environmental progress can’t be made without the input and action of human stakeholders.

Reaching the Most Vulnerable

When organizations are diverse and equitable, there are seats at the table for people who are more affected by outcomes like climate change. “Racially and socioeconomically marginalized communities in the USA have been shown to experience greater impacts from storm and flood events, extreme heat and infectious diseases that are becoming more frequent due to climate change.”When we ensure that decision-makers are representative of a large swath of stakeholders, environmental outcomes are more likely to reach the communities most in need of large-scale action. 

Honeycomb
The U.N. Sustainable Development Goals pair environmental and social considerations into a comprehensive framework.

Constructing Resilient Solutions

Furthermore, when it comes to innovation, different cultural, racial and gender perspectives bring unique insights and ideas to the table, which can lead to more effective and sustainable solutions to complex challenges. “By correlating diversity in leadership with market outcomes as reported by respondents, we learned that companies with… diversity out-innovate and out-perform others. Inclusive decision-making processes that value diverse viewpoints are more likely to result in solutions that are acceptable, effective and sustainable in the long term. 

Representing Stakeholders

By the same token, when decision makers consider DEI in sustainability, they likely reflect the priorities of the many people who comprise their event clients, attendees and exhibitors, sponsors, membership groups and employees. McKinsey conducted a survey in 2021 that revealed “two out of three Americans told us their social values now shape their shopping choices” and these trends amplify in Millennials and Gen Zs, the next generation of event goers with significant purchasing power. Considering DEI in conjunction with sustainability increases the likelihood of attracting new business, retaining current customers and growing brand value authentically. 

Going Beyond Numbers

We encourage and report on DEI metrics in our sustainability consulting because it begins the conversation about how deeply human wellbeing intertwines so many pieces of our existence. In the long run, a numbers approach to diversity isn’t adequate. There are invisible or undisclosed differences that make each of our perspectives unique and valuable. And quotas for certain demographics can easily become dehumanizing and counterproductive. But, for those new to event industry sustainability, we encourage you to weave DEI into your sustainability plans to lay the foundations for the complex intersection of strategies that make up good governance and organizational resilience.

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Partner Voices
MGM Resorts is committed to fostering an inclusive and diverse culture, not just among employees and guests but also within its supply chain. The company prioritizes procuring goods and services from businesses owned by minorities, women, veterans, people with disabilities, LGBTQ individuals and those facing economic disadvantages. This commitment is integral to MGM Resorts' global procurement strategy.    Through its voluntary supplier diversity program, MGM Resorts actively identifies and connects certified diverse-owned suppliers to opportunities within its supply chain. The company is on track to spend at least 15% of its biddable procurement with diverse-owned businesses by 2025, demonstrating that supplier diversity is not only a social responsibility but also a strategic business imperative.    Supplier diversity isn’t just the right thing to do – it’s good for business. A diverse supply chain allows access to a broader range of perspectives and experience, helping to drive innovation, entrepreneurship and resilience, while strengthening communities. At MGM Resorts, engaging diverse suppliers ensures best-in-class experiences for guests and clients. Supplier diversity ensures a more resilient supply chain while supporting economic development in the communities in which it operates.   The impact of MGM Resorts' supplier diversity initiatives is significant. In 2023, these efforts supported over 3,500 jobs across more than 30 states, contributed over $214 million in income for diverse-owned businesses and generated more than $62 million in tax revenue. The story extends beyond the numbers – it reflects the tangible benefits brought to small and diverse-owned businesses, fostering economic empowerment in their communities.    MGM Resorts also supports the development and business skills of diverse-owned businesses through investment, mentorship and education. Through the MGM Resorts Supplier Diversity Mentorship Program, the company identifies, mentors and develops diverse-owned businesses to fill its future pipeline, while providing businesses with tools and resources to empower and uplift. Since 2017, the program has successfully graduated 105 diverse-owned businesses and is on track to achieve its goal of 150 graduates by 2025.     MGM Resorts’ commitment to supplier diversity not only enhances its business operations but also plays a crucial role in uplifting communities and fostering economic development. This approach reinforces the idea that diversity is a powerful driver of innovation and resilience, benefiting both the company and the wider community.