IPG Takes New Steps in Considering Energy and Fuel Clients
23 Sep 2022
In a first for the industry, IPG and its affiliates now proactively review the climate impacts of prospective clients that operate in the oil, energy and utility sectors before accepting new work. We have partnered with a third-party expert in the area of climate change to develop a set of questions that we expect prospective clients to affirm before we enter a new partnership. These questions include:
- Have these potential clients set specific emission reduction goals that are aligned with 1.5°C ambition to achieve net-zero GHG emissions by 2050 or sooner with no greater than 10% off-setting?
- Are these companies publishing clear climate reporting, including scope, baseline, timeline, and the tracking of Scopes 1,2 and 3 emissions?
- Are their goals in line with the goals IPG has made in our own ecosystem, and reported on publicly?
- Have these companies ceased any controversial forms of oil and gas production?
Additionally, IPG does not support or engage in marketing or communications aimed at influencing public policy that seeks to extend the life of fossil fuels.
Since putting this review process in place, we have, on multiple occasions, turned down potential new business opportunities.
Currently, a small number of IPG agencies create marketing for carbon-intensive clients, including oil, gas and utility companies. And while some of the work that these agencies have contributed to in the past would not live up to our current standards, we are committed to aligning all future work on behalf of these clients to our company’s sustainability values.
IPG has also committed to reviewing our approach of working with clients in this sector on a bi-annual basis and will update our stakeholders as we continue to refine our thinking.
As our CEO Philippe Krakowsky said, “The transition to cleaner forms of energy is critical for all of us, but it can’t and won’t happen overnight. A reliable energy supply is crucial to all people and businesses. Without it, economic activity would collapse and there would be no viable path to a clean energy future. So, while we continue working in this space with our existing client base, we have also taken steps to revise how we consider our work going forward, consistent with our commitment to sustainability.”
Read our latest report for more information on IPG’s ESG work.