Ian C Jones
Berkshire UK • 07469018888 ian@newgatetrading.co.uk • LinkedIn
the wake of COP28, the media industry stands at a pivotal crossroads, with the imperative to embark on a transformative journey toward Carbon Net Zero. While industry giants like GroupM and Dentsu have already set ambitious targets, the question looms for smaller businesses within the sector – what does this mean for them? For some in the Media Industry, Carbon Net Zero is a strategic imperative for others it may become a strategic shock.
Industry Giants Leading the Way
Group M and WPP have taken a proactive stance, committing to achieve net-zero emissions across their direct operations (Scopes 1 and 2) by 2025 and extending this commitment to their value chain (Scope 3) by 2030 source. Similarly, Dentsu, under the leadership of Global CEO Peter Huijboom, emphasizes the responsibility of the marketing and advertising industry in addressing climate change source.
These industry leaders are not solitary pioneers; they, along with other major players, have firmly planted a stake in the ground. Internal changes are underway to meet Scope 1 and 2 targets, but attention is also directed towards the often-overlooked Scope 3, which encompasses the supply chain both upstream and downstream.
Understanding the Three Scopes
Scope 1: Business Control
GHG contributions within the business's control, including premises, company vehicles, and waste. Urgent action is required before 2025.
Scope 2: Purchased Energy
GHG contributions from energy purchased to run the business, such as electricity for lights and equipment. Another high-priority area to address before 2025.
Scope 3: Supply Chain Impact
The most significant contributor to GHG emissions, encompassing the entire supply chain both upstream and downstream. Though not an immediate concern, addressing Scope 3 is crucial for safeguarding existing commercial contracts from competitors.
Ripple Effects on Carbon Net Zero and the Media Industry
As major players scrutinise their Scope 3 contributions, the reverberations will be felt throughout the industry. Consider a Publishing House with popular titles – in the past, advertising bookings paid little heed to the GHG emissions associated with the publisher's activities. This paradigm is shifting.
Under Scope 3, considerations extend both upstream and downstream:
Upstream:
Purchase of paper and printing equipment
Energy for transporting paper
Energy to run printers
Energy for distribution
Waste removal and disposal
Business travel and employee commuting
Energy usage of leased assets, buildings, and equipment
Downstream:
Energy for distribution to retail stores or consumers
Energy used in handling and processing in distribution centers
End-of-life treatment of the finished product
The Path to Carbon Net Zero
Carbon Net Zero in the Media Industry is a targeted effort to reduce the carbon impact of developing, producing, distributing, and running advertising, with the ultimate goal of achieving Net Zero by 2030. Businesses must adapt or face consequences, including potential exclusion from the approved media buying lists of major buyers.
Picture a scenario where a large media buyer chooses between a business with Net Zero at Scopes 1 and 2 and a competitor boasting Net Carbon Zero status across Scopes 1, 2, and 3. In this landscape, carbon neutrality is as pivotal as pricing.
Acting Today for a Sustainable Tomorrow
The adage "When is the best time to plant an apple orchard?" finds resonance here. The first answer is five years ago, but the second answer is today. The same applies to achieving Carbon Net Zero – while we can't undo the past, businesses can take positive steps today to reduce future carbon emissions.
Newgate Trading stands ready to guide Media Industry businesses on their journey to Carbon Net Zero. Our auditors, qualified to ISO 14061-1 standards, can identify Scope 1, 2, and 3 emissions. Beyond identification, we offer a unique financing mechanism to expedite the purchase of carbon offsets, accelerating the path to Net Zero. Carbon Net Zero in the Media Industry is a Strategic Imperative and should not be ignored.
Why pay cash for carbon reporting when you can pay with your media.
For more information and an obligation-free initial consultation, please Adam Yates at Newgate Trading. adam@newgatetrading.co.uk
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https://www.newgatetrading.co.uk/post/embracing-sustainability-a-call-to-accountability-in-marketing
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