A new report from the collective Music Rights Organisations (CMOs) of Denmark, Sweden, Norway, Finland, and Iceland has highlighted the substantial role the music industry can play in advancing sustainability and addressing social issues such as diversity, equity, and mental health. The report urges the industry to prioritise these matters, responding to growing expectations from creators and stakeholders for greater action.
As the world grapples with the complex challenges of climate change, economic disruption, and social inequality, the report positions CMOs as key actors in driving change. The report also outlines a structured approach for incorporating Environmental, Social, and Governance (ESG) strategies into the music industry, offering a roadmap for more responsible and sustainable operations.
Focus on Social Issues
The report highlights that CMOs have a unique ability to address critical social issues within the music industry. By applying a “dual-lens” approach, the report assesses the impacts of ESG issues not only on society and the environment but also on the financial health of CMOs. Social matters, such as diversity, equity, inclusion, mental health, job security, and fair remuneration, are identified as the most pressing concerns for CMOs to tackle. The report underlines the importance of addressing these systemic challenges collaboratively, as they affect both industry professionals and the broader music community.
Diversity and mental health are of particular concern in the report, which states that many creators and stakeholders expect CMOs to take a leading role in driving change in these areas. These efforts, the report suggests, could help foster a more inclusive and equitable music industry while improving the well-being of those who work within it.
Governance as a Pillar of Sustainability
The report also stresses the importance of robust governance in achieving sustainability goals. It calls for CMOs to strengthen their internal democratic processes, improve transparency, and ensure that financial assets are managed responsibly. According to the research, strong governance will not only foster trust within the music community but also ensure that sustainability initiatives have a meaningful and lasting impact.
“Good governance is essential to building confidence within the industry and ensuring that CMOs can achieve their long-term sustainability objectives,” the report states.
Environmental Concerns
While the report acknowledges that CMOs’ direct environmental impact is relatively limited, it points to the significant indirect effects of the broader music industry. For example, energy consumption in data centres, the environmental footprint of live performances, and the use of resources in production processes all contribute to the industry’s carbon footprint. Addressing these issues, according to the report, will require industry-wide collaboration and a commitment to sustainable practices.
The Nordic CMOs hope the report will serve as a guide for other industry players, urging them to adopt similar strategies that benefit both people and the planet. By focusing on these areas, CMOs aim to set an example for the global music industry, demonstrating that sustainability and social responsibility can go hand in hand with financial stability.
Future Path for CMOs
Ultimately, the report outlines a clear path for CMOs to lead the way in addressing social and environmental issues, calling for urgent action to ensure a more equitable and sustainable future for the music industry.
