The most significant sustainability impacts of Alma Media’s business are related to the media content published by the company (responsible journalism) and digital services (responsible marketing as well as responsibility for data and data protection).
For several decades now, Alma Media has surveyed the best-operating models from the perspective of sustainability while also developing its own operating methods. In 2015, the company committed to the Paris Pledge for Action to reach the COP21 targets and in 2016 it became the third media company in the world to set Science Based targets.
Alma Media is a founding member in the international Media Responsible Forum, which promotes sustainability in the media sector, and the Group is also one of the first media companies in the Nordic region to adopt integrated sustainability reporting in accordance with the GRI standards.
Committed to 1.5 degrees target
Alma Media is committed to the climate targets covering GHG emissions from company operations (scopes 1 and 2), and the subcontracting chain (scope 3). The targets are consistent with the need to limit global warming to 1.5 degrees Celsius, required by the Science Based Target initiative.
Alma Media commits to reduce its absolute Scope 1 and 2 GHG emissions by 52% by 2030 from a 2019 base year, focusing on fuel consumption of company cars and electricity, district heating and cooling of the facilities. Further, Alma Media commits to reduce Scope 3 GHG emissions by 14% targeting on purchased goods and services, for example emissions from printing business and logistics by 2030 from a 2019 base year.
Alma Media is a low carbon category company. Today about 80% of the total revenues come from digital sources. Of current operations, only 4 per cent of CO2 emissions are attributable to Alma Media`s own operations and 96% to subcontracting chain.
Sustainable development indices and surveys
- Alma Media is included in the Nasdaq OMX GES SUSTAINABILITY FINLAND index.
- CDP gave Alma Media a Leadership-level rating of A- in its Climate Change Disclosure 2022 and 2019 reports. In 2021 and 2020, Alma Media received a third best rating of B. CDP collects data from companies with regard to the risks posed by climate change and the opportunities presented by low-emission approaches.
- ISS ESG Corporate Rating gave Alma Media a Prime rating of C+ in 2019. Prime ratings are awarded to companies that meet certain minimum requirements in assessments and are among the leaders in their respective fields in ESG scoring.
- Alma Media is also a signatory to the UN Global Compact declaration and a member of the Finnish FIBS corporate responsibility and diversity network and the City of Helsinki Climate Partnership Network.
The principles applied in the management of corporate responsibility
Alma Media develops its responsibility in compliance with the legislation governing business activities and the media industry. The development of corporate responsibility at Alma Media is also guided by the company’s policies, guidelines and commitments as well as guidelines defined by external parties that are significant to the company’s operations. The company’s internal control, risk management and governance are described in more detail in the Corporate Governance Statement and the Report by the Board of Directors.
The internal policies, guidelines and commitments that guide Alma Media’s responsibility:
- Code of Conduct
- The corporate responsibility programme and its targets
- Disclosure policy
- Information security policy
- Tax policy
- Investment and financing policy
- Procurement policy
- Equality and non-discrimination principles and equality and diversity plans
- Career development principles
- Remuneration principles and remuneration policy
- Contractual terms and terms of sale concerning the advertising customers of Alma Media’s media sales
- The Board of Directors’ diversity policy
- The company’s climate targets approved by the Science Based Targets initiative
External parties guidelines:
- The Council for Mass Media Guidelines for Journalists and basic agreement
- The marketing rules of the International Chamber of Commerce
- Principles concerning good marketing practices
- Europe-wide self-regulation of targeted online advertising (OBA self-regulation)
- Guidelines by the IAB digital marketing network
- The UN Global Compact initiative and the UN Sustainable Development Goals
Sustainability-Linked Finance Framework
Alma Media has launched a Sustainability-Linked Finance Framework. The financial characteristics of the Framework are linked to the achievement of two Sustainability Performance Targets, namely reducing GHG emissions from Alma media’s own operations (scope 1 and 2) and from subcontracting chain (scope 3).
OP Corporate Bank plc has acted as a sustainability advisor for Alma Media in the establishment of the Sustainability-Linked Finance Framework. The Framework has been reviewed by ISS Corporate Solutions, a second opinion provider, confirming the alignment with the Sustainability-Linked Finance Principles published by ICMA. ISS Solutions consider the Sustainability Performance Targets in the framework to be Robust, indicating the highest ambition level, and the related Key Performance Indicators to be Best Practice (highest possible category)*.
The Sustainability-Linked Finance Framework is designed to align Alma Media`s sustainability plan with the long-term financing strategy of the company.
The full report can be found here: Sustainability-Linked Finance Framework
A second-party opinion on the Sustainability Framework can be found here: Second Party Opinion