Oh No!! PR Firms Warn That Shilling For Big Oil Might Hurt Their "Reputations" - Answer - More PR!!

Paris-based advertising giant Havas has warned investors of the reputational risks associated with its work for fossil fuel companies in the latest fall-out from its decision to work with UK oil major Shell. Havas, whose CEO Yannick Bolloré had repeatedly voiced concern over the climate crisis, faced criticism from climate advocates last September when news broke that one of its agencies, Havas Media, had won a major Shell advertising contract.

In July, B Lab — the nonprofit that awards “B Corp” status for high environmental, ethical and governance standards — withdrew the certification from four other Havas agencies in response to complaints raised over the Shell deal. In a prospectus for a listing on the Dutch stock exchange, Havas disclosed risks including that it “may fall short of stakeholder expectations relating to ethical, environmental, social and governance considerations” in ways that could “materially adversely impact the Group’s business.”

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Havas’ warning, first reported by trade press including Campaign and PR Week, is the latest move by the world’s largest communications groups to acknowledge the reputational risks of working with major polluters. In a 2023 sustainability report, the Japanese ad giant Dentsu acknowledged it could face declining revenue and reputational risk if it were to serve clients that fail to decarbonise. “Our ability to attract and retain clients, business partners, employees and other stakeholders will depend on maintaining a reputation as a climate leader,” it said. According to DeSmog research, Dentsu continues to work with fossil fuel companies including Chevron, ExxonMobil and Shell.

In 2022, New York-based Interpublic Group announced that it would proactively review the climate impacts of prospective clients in the oil, energy and utility sectors. However, this commitment does not apply to its subsidiaries’ existing fossil fuel contracts with companies including Saudi Aramco and Equinor. In October 2023, Bolloré, the Havas CEO, told Campaign that he had been happy to pitch for the Shell account, saying “we believe the most effective change comes from within.”

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Ed. - As you can see from the last two paragraphs, the industry is very (what's the Collinsesque word?) . . . ah, yes, concerned.

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https://www.desmog.com/2024/11/13/havas-warns-of-reputational-risks-over-fossil-fuel-clients-following-shell-backlash/