In this article
As green technology continues to improve, sustainable and environmentally conscious film and TV productions are more attainable than ever. But as a survey by global strategy consulting firm Altman Solon released this month found, most of the industry hasn’t known it.
Nearly 70% of over 300 production executives 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 sets.
The results of the company’s third annual “Emerging Media Tech Survey“ show that while there are increasing efforts by studios to monitor a given production’s environmental impact and curb emissions, there remains a major need to change Hollywood’s internal culture and the perceptions surrounding sustainable practices and technology.
Just over half of respondents said sustainability simply isn’t considered an issue in production, while 56% felt that high upfront costs and a lack of financial incentive also contribute to fleeting attitudes around sustainable practices.
Increasing public awareness of the importance of business practices regarding sustainability, as well as corporate workarounds such as greenwashing, have already pushed parts of the industry toward monitoring and reducing their environmental impact. Per Altman Solon, 67% of those surveyed already track energy consumption as a key performance indicator, with 50% tracking both the types of energy used and the amount of water consumption.
As for the incentivizing component, new initiatives like President Biden’s Green Energy Tax Credit are just beginning to permeate Hollywood, while programs in states such as California and New York also offer financial benefits.
But Altman Solon points out that a potential policy change by the Securities and Exchange Commission, which will require all publicly traded companies to report direct and indirect emissions, may be the kick the industry needs to shift its internal culture.
Similar widespread changes due to new laws and regulations have happened in the past — mandates including the EU’s General Data Protection Regulation and the California Consumer Privacy Act altered the entertainment industry’s approach to data collection and privacy, Altman Solon notes.
Around 75% of survey respondents are already aware of and preparing for the imminent SEC rules, showing that the wider acceptance of sustainability in Hollywood is already in motion.
The fact that several major studios are demonstrating eco-conscious practices is also a promising sign. NBCUniversal’s Sustainable Production Program has led to zero-waste sets and the hiring of “sustainability production assistants” for shows and films, while Sony’s Road to Zero plan is helping the company reach net zero carbon emissions by 2050.
Altman Solon concludes it’s only a matter of time before these efforts start to translate to corporate balance sheets. “Today, there’s a common perception that sustainability-focused activities don’t have a strong material impact on the company’s bottom line, but that may change in the coming years,” the report notes. “To counteract barriers to sustainable efforts, we recommend that [media and entertainment] companies organize and mobilize resources, invest in operations and capabilities to perform audits/assessments and build out their compliance efforts.”