Believe releases its first social & environmental report as part of its ‘Shaping Music for Good’ strategy
Believe (Ticker: BLV, ISIN: FR0014003FE9), one of the world’s leading digital music companies, releases its first social & environmental report presenting the Group’s ambition to ‘Shape Music for Good’, leading the way to a more sustainable, fair and inclusive music industry.
This detailed report, audited by the third-party independent experts KPMG, presents Believe’s structured approach, initiatives and non-financial indicators in line with global Environmental, Social, and Governance (ESG) standards and European and French regulations applied to a publicly traded company.
Social responsibility has been part of Believe’s business model since its creation in 2005, through its aim of democratizing access to music platforms and easing digital monetization for diverse local artists and labels.
In 2021, Believe conducted an extensive consultation with its various stakeholders to formalize and structure its Corporate Social Responsibility (CSR) strategy based on the 4 pillars of ’Shaping Music for Good’:
- developing diverse and local talent in local markets first;
- cultivating talent for the digital music era;
- building trusting relationships through respect, fairness and transparency;
- reducing its carbon footprint and empowering its various communities to have a long-term positive impact.
See related articles: Music industry unites to pledge net-zero emissions by 2050, Warner Music Group Releases Inaugural ESG Report
Believe also strengthened its CSR approach through the creation of a Board-level CSR Committee and through incorporating CSR objectives as part of executives’ remuneration policy, in addition to its compliance practices (code of ethics, anti-corruption training, whistleblowing procedures).
“Our CSR strategy, Shaping Music for Good is deeply embedded in Believe’s business model. Fueled by our driving forces of expertise, respect, transparency and fairness, it guides us – our employees, artists and partners – in building a more sustainable, diverse, and inclusive music industry,” said Sandrine Bossard, Chief People Officer.
As one of the leading global music companies, Believe is fully devoted to playing a role in addressing the major challenges that the digital music industry is facing, notably:
- Respect, fairness and transparency with artists and labels: Believe supports 1 million artists, directly or via their labels in more than 50 countries to develop their career in the digital music market. Through Believe’s local experts and global technology, they preserve their creative independence and optimize the use of the digital ecosystem to grow their monetization. Additionally, Believe promotes a fair remuneration policy, and data transparency and protection.
- Gender equity, diversity and inclusion: Believe has made significant progress in gender parity and has reached the level of 99/100 in France for the professional equality index. Globally, 40% of employees are women and the Executive Committee is composed of 54% women. Believe also launched its Diversity, Equity & Inclusion (DEI) training program ‘Be Fair’ and a ‘Diversity & Inclusion Charter’. Additionally, the Group took strong stands towards promoting women executives, artists and diverse communities by engaging in an active dialog with the industry to identify the challenges they face. Among these initiatives: the ‘Be the change’ study (with TuneCore and MIDiA Research) and the partnerships with Keychange (a global network and movement working towards gender equality in the music industry) and Women in Music.
- Climate change: Believe measures its direct carbon footprint in order to take action to reduce energy consumption and greenhouse gas emissions mainly generated by building offices and digital/IT equipment (representing 871 tons of CO2eq in 2021). The Group also supports and advocates for climate initiatives such as “Music Declares Emergency” or “Wonderful World Concert”.
- Ambassador program: Believe supports the development of the employee-led ambassador program (Believe for People/Parity and Believe for Planet groups), allowing them to play an active role in ‘Shaping Music for Good’. The Group also encourages all employees to participate in the group-wide volunteer day: Believe Tomorrow.
Full CSR report / NFPS (DPEF) available here.
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