The video content supply chain is experiencing significant transformations as the industry strives to meet the growing demands of consumers and stakeholders. There is an increasing emphasis on Environmental, Social, and Governance (ESG) goals, which are essential for ensuring long-term sustainability and competitiveness. The broadcast industry, like many others, recognises that sustainability is no longer just a matter of conscience; it’s increasingly becoming a boardroom issue. Shareholders are showing more interest in companies’ Corporate Social Responsibility (CSR) reporting, demanding transparency and accountability in environmental practices.
This shift reflects a broader trend where sustainability is integrated into the core business strategy, ensuring long-term viability and aligning with stakeholder expectations. Furthermore, the EU’s Corporate Sustainability Reporting Regulation will extend its reach beyond companies with over 500 employees to include other large companies and SMEs, based on turnover and employee size.
As we approach the end of 2024, the Corporate Sustainability Reporting Regulations 2024, which came into effect on 6 July 2024, are set to commence for financial years that started on or after 1 January 2024 for public interest entities, 1 January 2025 for other large companies, and 1 January 2026 for listed SMEs, with an ‘opt out’ possible until 2028.
So, there is no better time than the present to consider several key areas where those in the industry can focus their efforts to achieve these ESG goals.
Remote production: reducing carbon footprint
One of the most impactful ways the video content supply chain is addressing environmental concerns is through remote production. By leveraging advanced technologies, such as virtual production studios and cloud-based editing tools companies can now produce high-quality content without the need for extensive travel and on-site presence. This shift not only reduces the carbon footprint associated with transportation and logistics but also minimises the environmental impact of large-scale production sets. Remote production allows for more efficient use of resources, leading to a more sustainable approach to content creation.
Cloud-native workflows: enhancing efficiency and sustainability
The adoption of cloud-native workflows is another critical aspect of the industry’s ESG strategy. Cloud computing offers numerous benefits, including scalability, flexibility, and cost-efficiency. By migrating workflows to the cloud, companies can reduce their reliance on physical infrastructure, which in turn lowers energy consumption and greenhouse gas emissions. Cloud-native workflows also enable better collaboration and data sharing, leading to more efficient and streamlined operations. This transition is essential for achieving sustainability goals while maintaining high levels of productivity and innovation.
Clean energy: powering the future
As the video content supply chain continues to grow, so does its energy consumption. To address this challenge, companies are increasingly turning to clean energy sources to power their operations. Renewable energy, such as solar and wind power, is being integrated into the supply chain to reduce dependence on fossil fuels and decrease carbon emissions. By investing in clean energy, the industry is taking a proactive approach to mitigating climate change and promoting environmental stewardship.
Accurate carbon footprint measurement: tracking progress
Measuring and tracking carbon footprints is crucial for understanding the environmental impact of the video content supply chain. Accurate carbon footprint measurement allows companies to identify areas where they can reduce emissions and improve sustainability. Advanced analytics and reporting tools are being utilised to monitor energy usage, waste generation, and other key metrics. This data-driven approach enables companies to set realistic targets and track their progress towards achieving ESG goals. Transparency in reporting also builds trust with stakeholders and demonstrates a commitment to environmental responsibility.
Embracing a circular economy: reducing waste
The concept of a circular economy is gaining traction in the video content supply chain as a means to reduce waste and promote resource efficiency. A circular economy focuses on designing products and processes that minimise waste and maximise the reuse and recycling of materials.
By adopting circular economy principles, companies can extend the lifecycle of their products, reduce the need for raw materials, and decrease the amount of waste sent to landfills. This approach not only benefits the environment but also creates economic opportunities through the development of new business models and revenue streams.
Strategic evaluation and adaptation: staying competitive
The team at Futuresource Consulting, emphasises to its clients the need for strategic evaluation and adaptation to new technologies and market conditions. As the industry evolves, companies must continuously assess their ESG strategies and make necessary adjustments to stay competitive. This involves staying informed about emerging trends, investing in innovative solutions, and fostering a culture of sustainability within the organisation. By prioritising ESG goals, companies can enhance their reputation, attract top talent, and build stronger relationships with customers and partners.
Sustainability as a boardroom issue
The broadcast industry, like many others, is recognising that sustainability is no longer just a matter of conscience; it’s increasingly becoming a boardroom issue. Shareholders are showing more interest in companies’ Corporate Social Responsibility (CSR) reporting, demanding transparency and accountability in environmental practices. Furthermore, forthcoming EU legislation will require all companies above a certain size to measure and report their sustainability performance, making it imperative for the broadcast industry to adopt sustainable practices. This shift reflects a broader trend where sustainability is integrated into the core business strategy, ensuring long-term viability and aligning with stakeholder expectations.
The video content supply chain is at a pivotal moment in its journey towards sustainability. By focusing on remote production, cloud-native workflows, clean energy, accurate carbon footprint measurement, and embracing a circular economy, the industry is making significant strides in achieving its ESG goals. These efforts are not only essential for protecting the environment but also for ensuring long-term success and resilience in a rapidly changing world. As companies continue to innovate and adapt, the future of the video content supply chain looks promising, with sustainability at its core.
To read more on cutting-edge broadcast trends download this latest free report from Futuresource Consulting.
