What the new Race to Zero Criteria will mean for the future of company engagement strategies
On 15th June 2022, Race to Zero launched updated criteria which will shape the future of human engagement.
In this short blog, I am going to touch on 3 criteria changes which will impact human engagement (events) and which is relevant for all Corporate Heads of Sustainability who are implementing their strategy to meet Race to Zero commitments. I will also share 3 critical actions for readers who are in the value chain for delivering what is needed to enable human engagement (the event sector supply chain).
The Race to Zero is an initiative supporting the mandate of UN Climate Change High Level Champions for all the non state actors with net zero carbon commitments. In other words the updated Race to Zero Criteria will be relevant for everyone in the world who has made a credible Race to Zero commitment.
Scope 3 emissions, engagement and associations
‘Net Zero targets should cover on average 90% of emissions including scope 3 upstream and downstream’
Corporate engagement activities (events, exhibitions, training, sponsorship) are scope 3 emissions and have traditionally not been a corporates reporting focus. The change in criteria means heads of sustainability are likely to start requiring carbon footprints of their company’s engagement activities, delivered credibly by Race to Zero partner measurement systems.
‘Within 12 months of joining, align external policy and engagement, including membership in associations, to the goal of halving emissions by 2030 and reaching global (net) zero by 2050’
There is a new section in The Race to Zero Criteria called ‘Persuade’. Heads of Sustainability are now going to be asking ‘how does this engagement activity move us towards are net zero goals’. This means understanding why the event is taking place, the rationale for the logistical delivery of the event and the ability to provide evidence of how the event has advanced net zero targets.
The persuade section also requires;
‘Publicly removing yourself from a trade association if your associations persist in not aligning with scientific pathways.’
Trade associations are now play a vital part in unlocking innovative solutions and the future success of each trade association is tied to to a low carbon future.
A credible business case and future vision for sustainable engagement strategies
The update to The Race to Zero criteria means over 8,000 global companies, 1000 cities and 500 financial institutions will be reporting on this data within the next 12 months. There is now a significant customer base who require a new approach from the global event sector value chain.
The future vision for corporate engagement strategies is one where the approach to engagement is considered, sustainable and reported on. Engagement is valued and strategically delivered. The delivery, sponsorship or attendance at an event will be seen as strategically important because this is how companies will publicly demonstrate their Race to Zero commitment is being acted on.
Educate, engagement and collaboration
For members of the global value chain who deliver what is needed to enable engagement strategies they have an exciting future ahead as they shape their approach around sustainability. 3 critical and immediate actions they can take to future proof their business are:
1- Education: Give yourself time to learn what The Race to Zero is. Join over 1,600 event professionals in the Positive Impact network and receive free resources to educate yourself and your communities.
2- Engagement: Make a net zero commitment and join The Race to Zero through one of the 20 accelerator programmes which provide credible resources and support. The Accelerator Programme for event sector small to medium businesses is facilitated by Positive Impact events.
3- Collaboration: In the second half of 2022 the most important opportunity to collaborate comes in the form of the review of ISO 20121. Contact your national standards body and get involved with what could be one of the first ISO standards reviewed to cover The Race to Zero criteria.
Within the next 12 months the existing Race to Zero community will need to show evidence of meeting this updated criteria, while new Race to Zero commitments will need to agree to it before sign up. The future for a sustainable event sector looks bright, it will require integrity, innovation and collaboration, the outputs we strive for every time an engagement opportunity is delivered.
