OMG Launches 'Impact' ESG Tracking Tool
Omnicom Media Group (OMG) UK has launched an environmental, social, and corporate governance (ESG) tracking tool called OMG Impact to measure media owners' ESG practices and benchmark them against media investment strategies.
Developed in partnership with Legacy Media, the new OMG Impact provides an ESG index for historical media investment (using Legacy Media data) with the ability to deep dive into scores around twelve ESG categories, ranging from energy and climate change through community and development to diversity and labour rights. Data is refreshed monthly, and OMG will work with media partners to highlight the areas where they are behind their peers.
The partnership with Legacy Media allows OMG clients to make ESG a reporting metric so that the wider impact of their media supply chain investment can be measured.
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Legacy Media will have access to OMG's resources and in-house specialists to grow its dataset of rated media suppliers using a methodology agreed upon by both parties. This will allow OMG to expand measurement to media specialising in underrepresented groups, including minority-owned media channels and small and medium enterprises.
OMG Impact was developed to help the UK Government and OMG UK's private sector clients make better-informed media investment decisions based on the ESG credentials of media partners, with the UK Government using a custom algorithm to report against social value, a variation on ESG. The solution will be available to other UK clients across the group in the coming months.
Bhavin Balvantrai, Chief Market Analyst at OMG UK, comments: "OMG Impact offers a proactive solution to any client that wishes to invest in the media owners who align with their values and those of their audience. It's the first of its kind in helping to bring accountability to an advertiser's media supply chain, often one of the largest investment areas within a business, and it demonstrates our broader commitment to helping clients balance marketing efficacy with ESG values."