Emissions reporting for advertisers now law

The climate-related financial disclosures bill that passed federal parliament in September requires companies to report on their climate-related risks, opportunities, and strategies, as well as greenhouse gas emissions. Surprisingly, advertising and media rank among the largest global emitters of greenhouse gases – digital media globally is responsible for 1.6 billion tonnes of CO2 emissions, accounting for 4% of global greenhouse gas emissions.

While the changes currently relate to businesses with $500m turnover or over 500 employees, in the years ahead smaller businesses will be required to comply. Australia is taking a tougher approach than most global markets, with jurisdictions such as the EU and Japan focused on listed companies only.

Media agencies have a key role to play in helping advertisers measure and reduce emissions created from media campaigns. Developing a campaign emissions reporting strategy for clients alongside excellent media buying will be a key competitive advantage and deliver a much-needed solution for marketers.

Future-focused media agencies are leading the way in delivering detailed reporting in collaboration with emissions platforms such as Scope3. The result will be more cost-efficient campaigns, reduced wastage, and higher-impact campaigns by moving away from traditional “spray and pray” tactics.