This metric is based on the Global Reporting Initiative (GRI) G4 Sector Supplement - Event Organizers. It covers one of the reporting requirements of Indicator EO1 - 'Direct economic impacts and value creation as a result of sustainability initiatives'.
Sustainability initiatives can have a positive and negative economic impact on an organization. They also have the potential to create additional economic value.
The financial implications of sustainability initiatives are of interest for many event stakeholders. The business case for sustainability initiatives includes returns on investment such as resource cost savings, increased brand value, competitive advantage and additional revenues. Budgetary savings can result from resource conservation, reduced consumption or reductions in waste volumes, resulting in direct benefits for the event and the organization’s financial performance. Value creation can be offered to sponsors, organizers, and other stakeholders through innovative sustainability communication programs.
Performance in this Indicator may further support the business case for embedding sustainability initiatives into ongoing event production and business practice.
Indirect economic impact and value created for the community or other stakeholders is a positive outcome to be reported with G4-EC8.