Dependent: Supply chain / procurement engagement (138 carbon-strategic suppliers) Supply chain (Scope 3) makes up 98% of total emissions. WPP identified that just 138 carbon-strategic suppliers contribute 56% of total indirect purchased goods and services emissions, representing $1.2bn in spend. WPP has assessed the maturity of these suppliers' emissions reduction plans and embarked on an outreach and engagement plan toward supply chain decarbonisation.
▾ expand
Dependent: Media placement decarbonisation Media placement represents more than half of WPP's supply chain emissions. In 2024 GroupM piloted new ways to estimate, optimise and reduce emissions with third-party AdTech vendors. WPP welcomed the launch of the Global Media Sustainability Framework — the first industry-wide framework to measure media emissions consistently per GHG Protocol.
▾ expand
Dependent: Production decarbonisation via Hogarth and virtual production Advertising production is responsible for 14% of supply chain carbon footprint. Hogarth (WPP's production agency) invests in generative AI and virtual production technologies to lower production emissions. A production playbook guides decision-making before, during and after shoots. The Production Studio on WPP Open automates content creation, reducing travel needs.
▾ expand
Disposal of FGS Global to KKR On 2 December 2024, WPP completed the disposal of its 50.4% investment in FGS Global to KKR entity Kite Bidco Inc. Cash consideration of £613 million was received, generating a gain on disposal of £275 million before tax. Net assets disposed were £407 million.
▾ expand
BCW and Hill & Knowlton merger to form Burson Following the decision to merge BCW and Hill & Knowlton in January 2024, the merger formally completed on 1 July 2024, creating Burson. Goodwill for these businesses was combined within the Burson CGU effective 1 July 2024.
▾ expand
2024 heat and steam emissions restated due to misclassification as natural gas Instances of misclassification of heat and steam as natural gas, and omissions of heat and steam emissions across sites in 2024, resulted in understatement of Scope 2 market-based emissions by 10.7% and location-based by 1.2%. 2025 methodology will include refrigerant gases in Scope 1 from 2026.
▾ expand
Segment reallocation between Global Integrated Agencies, Specialist Agencies and Public Relations During 2024, the Group reallocated a number of businesses between Global Integrated Agencies, Specialist Agencies and Public Relations, changing the composition of reportable segments. Prior year comparatives have been restated per IFRS 8.
▾ expand
WPP has stated 2025 Scope 1&2 and 2030 Scope 3 carbon reduction targets The PwC audit report references WPP's 2025 scope 1 and 2 reduction targets and 2030 scope 3 reduction targets, which were incorporated into goodwill impairment forecasts. This financial statements section does not provide further detail on the targets.
▾ expand
Auditor change from Deloitte to PricewaterhouseCoopers Following a competitive tender process, PricewaterhouseCoopers LLP (PwC) was appointed as auditor of WPP effective from the year ended 31 December 2024, replacing Deloitte LLP. PwC was appointed by members on 8 May 2024. This is PwC's first year of engagement.
▾ expand
Restructuring and transformation costs of £251 million including IT transformation Restructuring and transformation costs of £251 million in 2024 include £90 million for the IT transformation programme, £144 million related to the continuing transformation plan (VML, Burson, GroupM simplification), and £17 million of ongoing property costs.
▾ expand
see 13 more events →