Activists Are Using a New Metric To Estimate How Much of Agencies’ Revenue Is at Risk Due to Climate Change

Duncan Meisel is the first to admit that corporate enthusiasm for climate action has waned in the last couple of years. But just because some CEOs and regulators stop talking about it doesn’t mean that climate change is slowing down. In fact, it’s only heating up .

Clean Creatives, the campaign group Meisel leads, released its fifth annual F-List report compiling droves of publicly available information about advertising and public relations agencies’ work for fossil fuel companies. The group found 1,217 contracts held by 709 agencies.

The 2025 F-List report found that all major holding companies—including Dentsu, Havas, Omnicom, Publicis, Stagwell, and WPP —as well as Edelman have current or recent contracts with fossil fuel companies.