- Leading in Protecting the Environment: Warner Bros. Discovery actively works to decrease its carbon footprint by closely tracking emissions and making large investments in renewable energy.
- Dedication to Diversity, Equity, and Inclusion: The company actively supports diversity, equity, and inclusion with almost equal gender representation and extensive diversity efforts.
- Ethical Governance: The company enforces strong governance and ethical standards through comprehensive oversight, training programs, and robust compliance frameworks.
Warner Bros. Discovery’s 2023 Sustainability Report comprehensively outlines its strategic commitments and achievements in integrating Environmental, Social, and Governance (ESG) considerations into its operations. Here, we delve deeper into various aspects of the report to provide a granular view of WBD’s sustainability practices.
Overview and Strategic Focus
David Zaslav, President and CEO of Warner Bros. Discovery, emphasizes the importance of sustainable practices in media production and corporate operations, underpinning the narrative of responsibility and inclusivity. WBD operates with the philosophy that media companies have a unique opportunity to influence society positively by promoting sustainability through storytelling and corporate actions.
“Through our work, we believe we have an opportunity and a responsibility to make a difference in our communities and the world at large — and our strong focus on environmental, social, and governance (ESG) policies and initiatives underscores this commitment.”
Efforts to Protect the Environment
Warner Bros. Discovery has put in place a wide range of environmental initiatives aimed at reducing its carbon footprint and improving ecological stewardship:
- Greenhouse Gas (GHG) Emissions: The company has created a detailed GHG emissions inventory, identifying key areas for emissions reduction across Scope 1, Scope 2, and selected Scope 3 categories. This initiative is crucial for setting measurable targets and tracking progress against international standards.
- Initiatives for Renewable Energy Use: WBD reported significant progress in obtaining renewable energy, with 44,841 MWh generated or purchased across various locations globally, including Finland, New Zealand, Poland, the United States, and the United Kingdom. This demonstrates a significant commitment to reducing dependence on non-renewable energy sources.
- Sustainable Production Practices: The company has been recognized with numerous awards for its environmentally friendly production practices, including 40 Environmental Media Association Green Seals. These awards highlight its commitment to sustainable operational practices throughout its content production lifecycle.
Social Commitments and Workforce Initiatives
Warner Bros. Discovery places a strong emphasis on creating a diverse and inclusive workplace and extending its social impact into the communities where it operates:
- Diversity, Equity, and Inclusion (DEI): WBD has a thorough strategy for diversity, equity, and inclusion that includes extensive training programs, recruitment initiatives aimed at increasing diversity, and measures to ensure an inclusive workplace culture. The company’s workforce statistics reflect a nearly balanced gender ratio and significant representation across various racial and ethnic groups.
- Employee Engagement and Development: WBD actively invests in its employees’ professional growth and personal well-being. In 2023, nearly 7,000 employees took part in development programs customized to improve skills relevant to their roles and the industry as a whole. The company also prioritizes leadership training, with a significant focus on DEI competencies.
- Community Engagement: The company’s social impact goes beyond its direct business activities, with employees contributing over 41,000 volunteer hours in various community service efforts, including environmental projects and educational and social initiatives.
Governance and Ethical Practices
Governance at Warner Bros. Discovery is supported by strong oversight mechanisms designed to ensure compliance and promote a culture of ethical integrity:
- Corporate Governance: The company’s Board of Directors, through its Nominating and Corporate Governance Committee and Audit Committee, provides strategic oversight on ESG matters. This involves reviewing public disclosures and ensuring the effectiveness of internal controls related to ESG reporting.
- Ethical Business Practices: WBD is dedicated to high ethical standards across all operations, demonstrated by its comprehensive Code of Ethics and ongoing training programs that cover anti-bribery and anti-corruption elements.
Recognitions and Future Outlook
The report emphasizes several awards and recognitions that WBD has received, reflecting its industry leadership in sustainability and corporate responsibility. These awards not only acknowledge WBD’s current accomplishments but also establish a standard for continuous improvement in its ESG efforts.
The 2023 Sustainability Report from Warner Bros. Discovery demonstrates a strong commitment to sustainability, from minimizing environmental impact and fostering an inclusive and diverse workplace to upholding high standards of governance and ethical practice. As WBD continues to expand its global presence, its focus on sustainability remains vital in shaping a responsible media landscape that influences and inspires positive societal change. This commitment positions WBD as a leader in sustainable media practice, prepared to tackle future challenges and opportunities in the evolving global marketplace.
