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Leaders know what needs to be fixed

Leaders know what needs to be fixed


As green technology continues to improve, sustainable and environmentally friendly film and television productions are more feasible than ever. But as investigation According to global strategy consultancy Altman Solon published this month, most in the industry didn't know it.

Nearly 70% of more than 300 production managers across North America, Europe and Asia cited a general lack of awareness of the benefits of sustainability as the biggest barrier to making it a priority on film sets.

Results from the company's third annual Emerging Media Tech Survey show that while studios are increasingly working to monitor the environmental impact of a given production and reduce emissions, there remains a need major role in changing Hollywood's internal culture and perceptions surrounding sustainable practices and practices. technology.

Just over half of those surveyed said sustainability is simply not seen as an issue in production, while 56% believe high upfront costs and lack of financial incentive also contribute to attitudes ephemeral with regard to sustainable practices.

Increase public awareness of the importance of sustainability business practices, as well as workarounds from companies such as greenwashing, have already pushed some parts of the industry to monitor and reduce their environmental impact. According to Altman Solon, 67% of respondents already track energy consumption as a key performance indicator, and 50% track both the types of energy used and the amount of water consumed.

On the incentive side, new initiatives like President Biden's green energy tax credit are just beginning to permeate Hollywood, while programs in states like California And new York also offer financial benefits.

But Altman Solon emphasizes that a potential policy change by the Securities and Exchange Commission, which will require all publicly traded companies to report their direct and indirect emissions, could be the boost the industry needs to change its internal culture.

Similar widespread changes due to new laws and regulations have occurred in the past – mandates including EU General Data Protection Regulation and the California Consumer Privacy Law has changed the entertainment industry's approach to data collection and privacy, notes Altman Solon.

About 75% of respondents are already aware of and preparing for the SEC's impending rules, showing that broader acceptance of sustainability in Hollywood is already underway.

The fact that several major studios are demonstrating eco-responsible practices is also a promising sign. NBCUniversal Sustainable production program led to zero-waste sets and the hiring of “sustainable production assistants” for shows and films, while Sony's project On the road to zero This plan helps the company achieve net zero carbon emissions by 2050.

Altman Solon concludes that it is only a matter of time before these efforts begin to show up on company balance sheets. “Today, there is a widespread perception that sustainability-focused activities do not have a significant material impact on business results, but this could change in the coming years,” the report notes. . “To counteract obstacles to sustainable efforts, we recommend that [media and entertainment] Companies are organizing and mobilizing resources, investing in operations and capabilities to conduct audits/assessments, and intensifying their compliance efforts.




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