IPG Announces Climate Action Plan as Part of an Integrated ESG Program
First Company in the Advertising & Marketing Sector to Publish SASB Report
Commits to Set a Science Based Target
Will Source 100% Renewable Electricity by 2030
Joins The Climate Pledge co-Founded by Amazon and Global Optimism
New York, NY, June 09, 2021 (GLOBE NEWSWIRE) -- Interpublic Group (NYSE: IPG) announced today that as part of its growing commitment to addressing ESG (environmental, social and governance) concerns, the company is moving forward on an ambitious climate action plan that consists of three simultaneous goals.
In addition to these new climate goals, IPG also published its first SASB Report, becoming the first company globally to publish in alignment with SASB’s Advertising & Marketing Sustainability Accounting Standard. This evolution in our ESG reporting and enhanced disclosure is geared toward providing financially material sustainability information to investors.
“Sustainable transformation is an imperative for us, and we are committed to utilizing all available levers to advance our ESG goals,” noted Philippe Krakowsky, Chief Executive Officer, IPG. “The steps we are taking today represent a significant move forward in terms of assessing and reducing our carbon footprint. We have been thoughtful about these commitments, and understand that to successfully address climate change, we have to look at behavioral changes we can implement to minimize our contribution to the problem. These will include travel policies, energy-efficient buildings and responsible consumption while at work, whether that’s home-based or in-office. We also recognize our special responsibility as a marketing communications company to drive positive change not only on climate, but also on human capital, diversity, equity and inclusion, data ethics and privacy, as well as responsible media and content, which is reflected in our SASB report,” concluded Krakowsky.
Regarding IPG’s climate action plan, the company has committed to set an emissions reduction target in line with limiting global temperature rise to 1.5 degrees Celsius through the Science Based Targets initiative (SBTi), the best-practice framework for validating emissions reduction targets. This commitment also makes IPG a signatory to the Business Ambition for 1.5°C and a member of the United Nations-backed Race to Zero campaign.
IPG has also committed to sourcing 100% renewable electricity by 2030 for its entire portfolio.
Additionally, the company has formally joined The Climate Pledge, co-founded by Amazon and Global Optimism. The Climate Pledge is a commitment to reaching net-zero carbon across our business by 2040, 10 years ahead of the Paris Agreement. Moreover, IPG plans to join additional initiatives that encourage businesses like ours to reduce emissions across our global organization and our supply chain.
Krakowsky also noted, “We are proud to sign on to The Climate Pledge, joining many of our client partners who have embraced becoming net zero carbon companies. In keeping with The Pledge, we will regularly report on our greenhouse gas emissions, as well as eliminate as much carbon as possible from our operations and offset where we cannot eliminate.”
“IPG understands that we have a responsibility to contribute to a healthier society and a healthier planet,” commented Michael Roth, Executive Chairman, IPG. “We know that mitigating our climate impacts is an important way to contribute to that goal, and that we need to work with all of our stakeholders to do so. Meaningful commitments, like the ones we are announcing today, will play an important part on our journey. It’s also gratifying to be able to report recent progress on a number of fronts in our ESG efforts using the standards set out by SASB as these issues grow in importance to all our stakeholders, including investors,” he continued.
In its 2020 GRI Report, IPG, for the first time, reported the operational emissions (scope one and scope two emissions) across its entire global portfolio. This year, IPG is expanding its assessment of and reporting on scope three emissions to account for and work on reducing impacts throughout its entire value chain. The company also increased its disclosures around data privacy and human capital information, specifically related to pay equity, parental leave, and the race and gender composition of its leadership. In 2020, IPG was named to the Dow Jones Sustainability Index (DJSI) North America for the first time, and to the FTSE4Good Index for the second year in a row. In 2021 IPG was named to the Bloomberg Gender Equality Index for the second year in a row, and earned a 100% rating on the Human Rights Campaign's Corporate Equality Index for the 12th consecutive year. The company’s MSCI ESG Rating was recently raised to an A due to increased transparency across key areas of its ESG programs and commitments.
# # #
Interpublic (NYSE: IPG) (www.interpublic.com) is a values-based, data-fueled, and creatively-driven provider of marketing solutions. Home to some of the world’s best-known and most innovative communications specialists, IPG global brands include: Acxiom, Craft, FCB, FutureBrand, Golin, Huge, Initiative, Jack Morton, Kinesso, MAGNA, Matterkind, McCann, Mediahub, Momentum, MRM, MullenLowe Group, Octagon, R/GA, UM, Weber Shandwick and more. IPG is an S&P 500 company with net revenue of $8.06 billion in 2020.
# # #