CCOH’s Board and management team are committed to making a difference in the communities we serve. We are united across our business units by the common purpose of “creating a better world through our people-powered platform”. Together, we strive to improve the communities where we operate through innovation, dedication and good governance.
ESG is integrated across CCOH’s strategic and operational areas. The ultimate responsibility and oversight for ESG initiatives lies with the Board’s Nominating and Corporate Governance Committee. In addition, the Board’s Audit Committee oversees risk, including climate-related, HR, compliance, privacy and information security risks, and the Board’s Compensation Committee oversees human capital management initiatives. On an operational level, CCOH’s legal and compliance business functions report directly to the Board on ESG matters and compliance initiatives. Further, the Global Compliance Office coordinates regional ESG Programs with executive oversight, and senior leaders in divisional governance committees oversee local ESG programs across the Company.
In December 2022, Clear Channel Outdoor published its most recent ESG Report (the “2022 ESG Report”), which details how we strive to behave ethically and responsibly as a company, an employer and a business partner and how we endeavor to use our resources and products to drive meaningful change. For more information on our ESG policies, practices, initiatives and accomplishments, please see our 2022 ESG Report, which is available here. For the avoidance of doubt, none of our 2022 ESG Report, our website or the information included therein is a part of, or incorporated by reference into, CCOH’s proxy statement.
Some of our ESG highlights to date include:
- Group-wide commitment to become Carbon Net Zero by 2050, with certain business units on track to achieve this target across direct emissions (Scope 1 and Scope 2) by 2030;
- Measuring our carbon emissions across the Company to help track our progress against our net zero target;
- Publishing our global Environmental Policy in 2022, which describes the commitments of our Environmental Program;
- Conducting life cycle assessments of key products by engaging environmental consultants to evaluate the environmental impact of our products and production processes;
- Requiring environmental contractual obligations and environmental impact assessments for certain suppliers in our supply chain; and
- Developing and implementing an environmental strategy that includes both a company-wide Environmental Policy and environmental program and targets, as well as environmental initiatives tailored to specific regions by specific business units. Select examples include:
- In 2022, Clear Channel United Kingdom purchased all electricity for use in its premises and street furniture from 100% renewable sources. Clear Channel Europe has agreed to contract with renewable energy providers in all new energy contracts (from 2021 onward).
- Clear Channel Europe has introduced hybrid and electric vehicles in key fleets.
- Up to 98% of Clear Channel Outdoor Americas’ (CCOA) digital billboards components are estimated as recyclable. CCOA has converted 99% of all metal halide and fluorescent fixtures in its billboards to more energy-efficient LED lighting.
- Clear Channel Europe has developed auto-dimming backlights to dim and turn off the backlights on displays to reduce power consumption in digital assets during quiet periods.
- Continuing our efforts on diversity and inclusion (D&I) with regular D&I training and by establishing D&I Committees across all our regions;
- Establishing regional and local engagement programs to increase and support diversity across CCOH, including:
- (i) the Executive Diversity Advisory Council in the U.S., which is sponsored by executive management and works to advance CCOA’s D&I efforts with respect to the workforce, workplace and local communities,
- (ii) Clear Channel UK’s People with Disabilities Crew that promotes and supports disabled talent and Culture Crew that celebrates and highlights diverse ethical and cultural backgrounds, and
- (iii) Implementing employee surveys across multiple regions and business units to gather insights on diversity and inclusion preferences and to help guide and prioritize our efforts;
- Seeking to support efforts to increase social and racial justice and equality by providing free media space, charitable contributions, and collaborations with charity partners;
- Helping local and national governments and nongovernmental organizations to make public safety announcements, including in response to COVID-19 and the conflict in Ukraine;
- Adopting our Supplier Code of Conduct and implementing contractual clauses used across our business, requiring key suppliers to operate at a high ethical standard;
- Establishing policies on nondiscriminatory compensation and hiring practices that prohibit discriminatory employee reward decisions based on an employee’s intersectionality (e.g., gender, race, class, caste, sexuality, religion, disability or physical appearance);
- Adopting a Global Human Rights Policy that details our position on human rights, with annual trainings required for all employees;
- Working to promote the health and safety of our employees, including our field workers, by developing safety programs and systems that are regularly inspected and independently audited;
- Seeking to improve the mental health of our employees with mental health programs across our regions, including our Mental Health Allies program.
- Annual Board and committee self-evaluations;
- Board led by an independent, non-executive chair;
- Annual election of all CCOH’s directors;
- Regular executive sessions of non-management and/or independent directors;
- Fully independent Audit, Compensation, and Nominating and Corporate Governance committees, as defined by NYSE listing standards and applicable SEC rules;
- Service on multiple boards or audit committees subject to Board approval to ensure effectiveness and minimize potential conflict of interests;
- Diversity of ages of directors (over three decardes with an average age of 58 years old);
- 30% of CCOH’s directors are female;
- 10% of CCOH’s directors are racially diverse;
- Annual Say-On-Pay voting;
- Focusing on data privacy and cybersecurity through impact assessments and cybersecurity programs and policies, auditing, annual cyber security awareness training, overseen by our dedicated Privacy Office (including a European/UK Chief Data Protection Officer) and Cybersecurity teams; and
- Robust internal governance program for employees, executives and directors, underpinning our Code of Business Conduct and Ethics with mandatory regular training, due diligence and risk management programs tailored to each division and a global anti-corruption and sanctions program, all supported by an independent whistleblowing hotline