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WFA showcases ad industry support for self-regulation at WEF in Davos
Date: 25/01/2008
On 24th January WFA took part in the World Economic Forum (WEF) in Davos, speaking during a sesion entitled "Self-regulation in advertising" attended by 41 CEO's from the consumer goods and the media industries.
The session itself was facilitated by Michael Roth, Chairman & CEO of Interpublic, and WFA Managing Director Stephan Loerke shared a panel with:
- Richard Llloyd, Director General Consumers International
- Viviane Reding, European Commissioner Information Society & Media
- What approach are different regions of the world taking to self-regulation in advertising and how might this evolve?
- How is the debate being shaped by the broad array of platforms available for communication to and between consumers?
- What innovative, collaborative solutions exist and what can be done to drive them?
WFA made the following key points during its intervention:
Globalisation:
The global ad market has undergone tremendous changes over the years (especially in countries such as China, Russia, India etc.) Our industry has committed at its Global Ad Summit in Toronto to keep up with the pace of change and to strengthen the SR systems world-wide. Work has started, and we are already seeing considerable progress in China (endorsement by the Vice Prime Minister) and in India (new Broadcatsing Law recognizing self-regulation).
Digital Platforms:
New digital platforms provide consumers with access to an unprecedented amount of content and service, most of which free of charge as it is funded by advertising. Digital advertising holds the promise of being more targeted and therefore more relevant to consumers. Industry is committed to uphold the same high standards of responsible advertising accross all types of platforms, be they traditional or digital. This is why ICC has revised its code of advertising practice end of last year, in order to expressly include digital platforms.
Innovative, collaborative solutions:
WFA is supportive of innovative, collaborative initiatives, such as the EU Platform on Diet, Physical Activity and Health, the US / Canadian / EU Pledge programmes and the EU Alcohol Forum. Companies individually and collectively are prepared to take their responsibility to society very seriously. The food and non-alcoholic beverage industry in particular is showing global leadership.
I also had the opportunity, in response to a question by Alan G. Hassenfeld (Chairman of Hasbro), to explain what we think are the key features of an effective self-regulation system. And Dominique Reiniche (President European Union Group, The Coca-Cola Company) acknowledged explicitly the leadership role which WFA has played in making the EU Pledge happen.
For more information on the discussions in Davos, please contact [email protected]
