Motivations for ESG Investment Among Leaders in the MICE Industry

Abstract

The Meetings, Incentives, Conferences, and Exhibitions (MICE) industry faces mounting pressure to address environmental, social, and governance (ESG) concerns over its environmental impact. This research investigates the driving forces behind ESG investment decisions among MICE industry leaders. Employing a mixed-methods approach, the study begins with an exploratory expert interview, followed by targeted questions for focus groups involving senior industry figures. Insights from the focus group discussions inform the development of a comprehensive questionnaire, capturing key motivators identified by participants. The survey was subsequently distributed to a broader cohort of MICE industry leaders, resulting in responses from 76 individuals. 

The findings highlight that leadership responsibility and the desire to inspire others are pivotal motivators for ESG investment, transcending company size and revenue. Simultaneously, external pressures—such as talent attraction and reputation enhancement—also play a significant role. However, the presence of opaque and localized regulations poses a formidable obstacle, hindering genuine commitment from all MICE industry leaders. This research contributes unique insights to this industry, and further investigation is warranted to understand motivators for ESG investment not only in the MICE industry but also in comparable growing sectors. 

Keywords: Sustainability, MICE (Meeting, Incentive, Conferences, Exhibition) Industry, ESG (Environmental,

            Social, Governance), Motivation, Responsible Leadership, Attracting Talent, Sustainable Reporting,

           Client expectation,