Advertising company Ocean Outdoor has launched a new sustainability initiative, which will see the brand fund carbon removal and nature restoration projects, in an effort to move towards net zero by 2024.
Starting in January 2024, the OOH marketing specialist will pledge a percentage of its annual revenue to four critical marine based projects (such as coral restoration) which remove atmospheric carbon.
All of the projects are verified by sustainability platform Pinwheel and will be selected in a vote which will see clients and agency partners vote for the most high potential projects to put their money towards.
“Ocean believes that companies should strive to understand their emissions and reduce them as far as possible, but we also believe that the out of home sector and the wider advertising industry should not wait until that work is finished before committing money to carbon removal and planet repair,” said Ocean UK CEO Phil Hall.
“By reframing the discussion away from compensation led offset schemes and towards a meaningful, science-based contribution based strategy, Ocean is seeking a rigorous and long term form of corporate climate activism.”
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Ocean UK marketing director Marie Le Hur added that by working with Pinwheel the brand “want to share our commitment towards a contribution-based strategy which puts agencies, brands and plans at the heart of the decision making”.
“This initiative will allow partners to feel reassured that these are rigorously vetted projects by third party environmental experts. It will also help agencies and clients in their own progress towards meeting Scope 3 of the Greenhouse Gas Protocol”.
Pinwheel founder and chief executive Gavin Sheppard said: “it’s great to see Ocean UK stepping up and funding four powerful marine projects in collaboration with their clients”.
“From cutting edge coastal carbon to restoring precious coral, Ocean UK’s funding of these projects will have a lasting impact”.
