Harmonizing business practices of events and convention industry through sustainability assessment framework development
The global event and convention industry is singlehandedly one of the largest and most lucrative sectors in business forecasting market size projected at approximately more than two trillion U.S. dollars by 2028. Despite being a significant contributor to global economic growth, the event and conven...
| Main Authors: | , , , , , , |
|---|---|
| Format: | Article |
| Language: | English |
| Published: |
Elsevier
2024
|
| Online Access: | http://psasir.upm.edu.my/id/eprint/117557/ http://psasir.upm.edu.my/id/eprint/117557/1/117557.pdf |
| _version_ | 1848867281284628480 |
|---|---|
| author | Bart Aswain, Ilanur Elyssa Ahmad Ludin, Norasikin Jarimi, Hasila Purvis-Robert, Kathleen L. Hamid, Norul Hisham Mohd Shariff, Mohd Zulkifly Burke, John |
| author_facet | Bart Aswain, Ilanur Elyssa Ahmad Ludin, Norasikin Jarimi, Hasila Purvis-Robert, Kathleen L. Hamid, Norul Hisham Mohd Shariff, Mohd Zulkifly Burke, John |
| author_sort | Bart Aswain, Ilanur Elyssa |
| building | UPM Institutional Repository |
| collection | Online Access |
| description | The global event and convention industry is singlehandedly one of the largest and most lucrative sectors in business forecasting market size projected at approximately more than two trillion U.S. dollars by 2028. Despite being a significant contributor to global economic growth, the event and convention industry faces a pressing environmental challenge due to its substantial carbon footprint. Current practices in the industry inadequately address sustainability concerns, leading to a critical gap in integrating environmental considerations into core business models. The lack of sustainability considerations contributes to climate degradation and undermines the industry’s long-term success and resilience. This observation signifies the need for a more systematic trajectory toward total decarbonization of the industry through the implementation of sustainable practices across its value chain. This work aims to develop a conceptual framework of sustainability assessment for a case study in the event and convention sector integrating two indicators: greenhouse gas emissions and energy consumption. The result identified a critical gap in current practices regarding the insufficient integration of sustainability assessment into the core financial business models of firms. The authors propose a new approach to address this by integrating economic impact analysis through the employment of the Return of Sustainability Investmentsdiscovered as the most effective sustainability economic impact assessment method in this study. To facilitate optimized implementation, a multilevel strategy framework enabling the adoption of a sustainability assessment is presented in this paper. This paper contributes to improved execution of sustainability assessments, where the framework can be applied in heterogeneous sectors. |
| first_indexed | 2025-11-15T14:34:00Z |
| format | Article |
| id | upm-117557 |
| institution | Universiti Putra Malaysia |
| institution_category | Local University |
| language | English |
| last_indexed | 2025-11-15T14:34:00Z |
| publishDate | 2024 |
| publisher | Elsevier |
| recordtype | eprints |
| repository_type | Digital Repository |
| spelling | upm-1175572025-05-29T06:56:43Z http://psasir.upm.edu.my/id/eprint/117557/ Harmonizing business practices of events and convention industry through sustainability assessment framework development Bart Aswain, Ilanur Elyssa Ahmad Ludin, Norasikin Jarimi, Hasila Purvis-Robert, Kathleen L. Hamid, Norul Hisham Mohd Shariff, Mohd Zulkifly Burke, John The global event and convention industry is singlehandedly one of the largest and most lucrative sectors in business forecasting market size projected at approximately more than two trillion U.S. dollars by 2028. Despite being a significant contributor to global economic growth, the event and convention industry faces a pressing environmental challenge due to its substantial carbon footprint. Current practices in the industry inadequately address sustainability concerns, leading to a critical gap in integrating environmental considerations into core business models. The lack of sustainability considerations contributes to climate degradation and undermines the industry’s long-term success and resilience. This observation signifies the need for a more systematic trajectory toward total decarbonization of the industry through the implementation of sustainable practices across its value chain. This work aims to develop a conceptual framework of sustainability assessment for a case study in the event and convention sector integrating two indicators: greenhouse gas emissions and energy consumption. The result identified a critical gap in current practices regarding the insufficient integration of sustainability assessment into the core financial business models of firms. The authors propose a new approach to address this by integrating economic impact analysis through the employment of the Return of Sustainability Investmentsdiscovered as the most effective sustainability economic impact assessment method in this study. To facilitate optimized implementation, a multilevel strategy framework enabling the adoption of a sustainability assessment is presented in this paper. This paper contributes to improved execution of sustainability assessments, where the framework can be applied in heterogeneous sectors. Elsevier 2024 Article PeerReviewed text en cc_by_nc_nd_4 http://psasir.upm.edu.my/id/eprint/117557/1/117557.pdf Bart Aswain, Ilanur Elyssa and Ahmad Ludin, Norasikin and Jarimi, Hasila and Purvis-Robert, Kathleen L. and Hamid, Norul Hisham and Mohd Shariff, Mohd Zulkifly and Burke, John (2024) Harmonizing business practices of events and convention industry through sustainability assessment framework development. Cleaner and Responsible Consumption, 15. art. no. 100226. pp. 1-15. ISSN 2666-7843 https://linkinghub.elsevier.com/retrieve/pii/S2666784324000597 10.1016/j.clrc.2024.100226 |
| spellingShingle | Bart Aswain, Ilanur Elyssa Ahmad Ludin, Norasikin Jarimi, Hasila Purvis-Robert, Kathleen L. Hamid, Norul Hisham Mohd Shariff, Mohd Zulkifly Burke, John Harmonizing business practices of events and convention industry through sustainability assessment framework development |
| title | Harmonizing business practices of events and convention industry through sustainability assessment framework development |
| title_full | Harmonizing business practices of events and convention industry through sustainability assessment framework development |
| title_fullStr | Harmonizing business practices of events and convention industry through sustainability assessment framework development |
| title_full_unstemmed | Harmonizing business practices of events and convention industry through sustainability assessment framework development |
| title_short | Harmonizing business practices of events and convention industry through sustainability assessment framework development |
| title_sort | harmonizing business practices of events and convention industry through sustainability assessment framework development |
| url | http://psasir.upm.edu.my/id/eprint/117557/ http://psasir.upm.edu.my/id/eprint/117557/ http://psasir.upm.edu.my/id/eprint/117557/ http://psasir.upm.edu.my/id/eprint/117557/1/117557.pdf |