By Calvin Mugume
As the world grows to be increasingly concerned with aspects of sustainability, social responsibility, and ethical governance, ESG is no longer about what businesses are doing but about how they are going about telling it. In the media sector, ESG is transcending actions into storyland, influencing the way companies convey their adherence to these principles to the audiences, investors, and stakeholders.
Media companies have traditionally concentrated on doing the right thing about ESG - whether it's lowering carbon emissions, promoting diversity in content, or upholding ethical governance practices. Now, however, the priorities are changing. It is no longer sufficient to simply do ESG; now it's also about communicating ESG. Media companies need to convey their ESG initiatives in transparent, significant, and powerful manners to resonate with their audience and fulfill the growing expectations of investors, regulators, and consumers.
1. Why Media Companies Need to Stop Keeping ESG Under Wraps
In the olden days, media companies were content with quietly implementing ESG initiatives without much fanfare. Audience accountability and investor demands for more transparency indicate that their stories on ESG should shine with the same splendor as their creative content.
Why? Because today, consumers, including younger generations, are no longer passive viewers, but active players in the brand they buy. More than ever, consumers seek to identify themselves with companies with similar values, and investors' decisions are ever more based on ESG performance and how firms are working their way toward a long-term vision of sustainability.
At times like these, reporting ESG efforts can no longer be an option. It is now part of the story of a media house. For any media house to be believed and trusted within the industry and by stakeholders, they can only enhance brand loyalty by communicating concrete steps that reflect sustainability, equity, and governance.
2. Effective ESG Storytelling in the Media Industry
To transition from ESG practice to ESG reporting, media firms require emphasis on several fundamental principles to be able to report their ESG actions effectively:
a. Principle is Transparency
Media companies need to be transparent about their ESG practices and report them regularly. This could mean publishing annual sustainability reports, announcing milestones along the road to carbon neutrality, or updating people on the company's diversity and inclusion efforts. Transparency builds trust, and trust is the secret to achieving a loyal fan base.
For example, a media house could make behind-the-scenes documentaries of how its production teams have reduced their carbon footprint or are moving forward to enhance gender balance at work. Reporting and narrating such accounts help the company prove commitment to ESG and win over viewers' attention in the context of action taken. b.
b. Authenticity Over Marketing Spin
It is not enough to merely announce that a media company is doing good in the world—audiences can recognize when it is merely a marketing spin. Media companies, instead, should tell real stories about their setbacks and triumphs along their ESG journey. These need to be authentic, even if they reflect setbacks or difficulty because this vulnerability contributes to credibility.
For instance, a media company can tell the story of how they reduced the wastage in film production despite the challenges. Through the process, of experimentation, success, and failure, the company shows its genuine concern for sustainability, which resonates more with audiences than a dry "we are green" message.
c. Integrating ESG into Content Creation
Apart from reporting on the ESG practices of their companies, media companies can do something unique; they can embrace ESG into the content that they create. Whether a documentary, drama, or news-oriented, media organizations have the opportunity to deliver climate change issues, social justice, and ethical governance in their reports.
A prime example of this is the trend of content creators tackling environmental or social issues in their narratives. Documentaries about climate change or television shows that tackle racial disparity not only contribute to the conversation but also illustrate how media companies are using their platforms to promote real-world change.
ESG in content is not limited to being applied to documentaries, but it can also be the integration of diverse voices and inclusive casting for a scripted series, analysis of ethical implications for news, or even being eco-friendly in set design and production. Amplify
d. Voices and Partnerships
Perhaps the most effective way to tell an ESG story is to amplify diverse voices—both in the media company and through the content it creates. Media firms can be a source of amplification for underrepresented groups, providing them with a platform to tell their stories.
For example, a media firm can partner with environmental groups to produce content that gives a louder voice to indigenous peoples at the forefront of climate change. Not only is this aligned with ESG principles, but it also enhances the storytelling and introduces a new voice into the general public discussion.
3. ESG in Governance and Ethics: More Than Just a Story
Whereas governance may receive less media attention, it is just as vital in communicating a genuine ESG story. Ethics are a very essential building block for the company, which comes from honest business practices and open leadership and being held accountable. Having a solid ethical building block enables every successful media house to earn the trust by all its viewers and investors by the force of publicized governance practices.
For instance, media companies that demonstrate their commitment to diversity in boards, uphold integrity in advertising practices, or offer transparency in the cost of producing content are improving their governance and strengthening their ESG story. Transparency about the processes of corporate governance shows that a company's commitment to ESG is not just performative but is rather embedded in the way it conducts business.
4. Building a Long-Term ESG Story
ESG telling is not a one-time thing. It requires long-term commitment and consistency. Media companies must construct a continuing narrative of their progress and plan for the future. If it is either sustainability or more years of a diversity campaign, audiences are going to want to see constant improvement rather than a company announcing a singular milestone.
A consistent effort at ESG storytelling can help media companies align their values with their actions, building a brand that is perceived as authentic and modern. The storytelling needs to evolve, including new challenges, solutions, and learnings, and make the conversation relevant and timely.
The media industry is well-positioned to lead the change in how ESG stories are told. Moving from doing ESG to telling ESG is not a trend but rather an integral part of the responsibilities media companies owe to their audiences, investors, and society at large. It then means that the creation of higher trust inspires positive change in other people if media companies can share stories about ESG efforts that are honest, transparent, and compelling.
This will mean, then, in a narrative-driven media business that the way companies communicate their story on ESG would be just as important as the story itself to be told. The point at which doing to storytelling on ESG presents a perfect moment for this industry to demonstrate leadership, inspire action, and relate with other audiences in any meaningful manner possible is finally here.