Legacy & OMG launches ESG tool to measure impact of media investment
UK Government is the first to use the tool
Omnicom Media Group UK has launched OMG Impact, an environmental, social and governance tool to measure the impact of investment across the media supply chain.
The tool will enable advertisers to compare the ESG impacts of different media channels and allow media owners to compare themselves with their peers.
Working with OmniGov at MG OMD, the UK government will be the first client to use the ESG tool and use a custom algorithm to report against social value.
Powered by global ESG data specialist Legacy Media, the tool provides an historical index and can measure media owners against 12 categories including energy and climate change, diversity and labour rights.
Data will be refreshed monthly and OMG will work with media partners to show them where they are behind their peers. OMG said the advertising industry had an average score of 56.4 out of 100.
OMG can use this data to benchmark how a client’s media investment strategy aligns with its ESG commitments.
Bhavin Balvantrai, chief market analyst at OMG UK, said the tool was the “first of its kind”, with the launch marking the first time Legacy Media has given access to its full datasets.
By partnering the media network, Legacy Media will be able to grow its dataset of rated media suppliers and OMG will be able to expand measurement to media specialising in underrepresented groups, including minority-owned media channels.
Andy Power, chief executive and founder of Legacy Media, added: “The partnership with OMG UK and OmniGov allows us to greatly scale our offering in the UK and work towards full representation for media owners, crucially in minority owned media and other under-represented cohorts.”
Stephanie Parry, marketing procurement senior category lead, at Crown Commercial Service, said: “It is all important that the public sector is able to work with media owners that represent all sections of the British public. Measuring the ethics of the platforms they invest in, and then benchmarking them against our social value framework, will ensure the right investments are being made.”
