For the second year running Planet Tracker has won multiple awards for its environmental, social and governance (ESG) research.

Retaining the ESG innovation of the year (research) award, Planet Tracker's efforts this year in the area highlighted the role of advertising agencies in promoting clients that have a significant environmental impact and called for industry changes.

In its From ADversity to ADvantage report, Planet Tracker's research revealed how six holding companies essentially dominate the $822 billion advertising agency industry and all lack tangible ESG commitments related to their clients, beyond statements in annual reports that don't have measurable targets. It calls for clearer measuring, reporting and accountability by advertising agencies' for the campaigns they create for their clients.

Analysis also showed these agencies have extensive, and often opaque, ties to carbon-intensive clients, which it calls for them to stop.

"Investors have the power to drive positive change within the advertising industry," said Dominic Lyle, director of communications. "Planet Tracker's analysis reveals the urgent need for accountability and transparency, empowering investors to demand sustainable practices and mitigate environmental risks."

Planet Tracker's research also addresses the industry's efforts that only address the 'internal' environmental footprint of companies, not the broader 'external' impact, such as continued support of industries like big oil.

One judge commended the research for how it "spotlights an often-overlooked topic with clear analysis and thought-provoking, compelling research, constructive outcomes and calls for action".

The sustainable finance think tank also won the ESG research of the year, EMEA for its report on the impact of toxic emissions from Europe's petrochemical industry in the 'trilateral chemical' region of Belgium, Netherlands and Germany.

The report, titled Toxic Footprints Europe, finds that despite the significant risks to human health and biodiversity posed by the petrochemical companies in this area the investors funding them are largely unaware or overlooking the issue of toxic footprints.

The report identifies 1,093 facilities in the trilateral chemical region, which are responsible for releasing 125 million tonnes of chemicals since 2010. Emissions caused by these chemicals have resulted in the loss of 24,640 years of healthy life and have affected an estimated 57 billion fractions of species. Specifically, it names BASF and Solvay as the worst culprits.

"Toxic Footprints Europe reveals the alarming reality of toxic emissions in one of the world's largest petrochemical concentrations," said Chris Baldock, head of data methodology at Planet Tracker. "This report highlights the significant impact of these emissions on human health and biodiversity, providing crucial insights for investors, policymakers and the public."

Planet Tracker calls on investors, particularly BlackRock, Vanguard and JPMorgan Chase, to take action and demand transparency, due diligence, and responsible investment practices.

Finally, the think tank also won the ESG research of the year (fixed income) award for its exploration of the link between a country's dependence on natural resource exports and its sovereign credit ratings.

The analysis shows that countries highly reliant on natural resource exports, particularly non-renewables such as oil and minerals, have experienced a consistent deterioration in their credit ratings. This has greatly accelerated since the 2008 financial crash.

Smaller nature-dependent economies have been particularly vulnerable with countries such as Guatemala and Ghana facing downgraded credit ratings, while Paraguay and Zimbabwe have experienced a significant decline in their creditworthiness.

"Planet Tracker's analysis highlights the crucial link between a country's credit rating and its dependence on natural resource exports," said Filippo Grassi, data analyst at Planet Tracker. "As nations face market shocks, investors must consider the impact of nature on long-term financial stability."

Investors are urged to consider the critical role of nature in economic stability and integrate nature risk into decision-making for long-term bond performance.

"Innovative research on nature - an important pillar of global ability to reach net zero and therefore fundamental to be mobilising capital to mitigate nature-related adverse impact and to provide nature-based solutions," is how one Awards judge described it.