When you stream movies, do you think about the environmental impact of what you’re viewing?
Netflix, a holding in Green Century°’s Balanced Fund, has departed from decades of traditional movie making by shifting toward a more modern, climate-oriented approach. Since 2021, the company has been working toward its goal of halving its carbon emissions by 2030. Beyond 2030, Netflix will continue to reduce its emissions to align with the latest climate science until global net zero is achieved.
Netflix’s sustainability plan has identified key areas in its operations and value chain, and the impact of procuring the raw materials and energy resources needed to create a finished product. Netflix’s goal is to optimize its energy use, shift to electrical sources and lower carbon emissions wherever possible.
With fuel consumption as the main source of emissions from productions around the world, Netflix is replacing diesel gas generators with battery-powered generators. The company also uses hybrid energy sources that combine batteries and solar power. Additionally, these steps help limit the air and noise pollution on set.
Netflix states that 100% of its power is derived from green energy, such as solar, for its utilities. Technical trucks and some trailers for the actors and actresses are powered by hydrogen, a clean energy solution that produces water as a byproduct. Instead of using gasoline fueled vehicles to run errands, they’ve adopted the use of electric and hybrid vehicles and have EV charging stations at the studio.
Netflix has partnered with others in the entertainment industry to create the Clean Mobile Initiative, which aims to have zero-emissions power sources for film and television productions with clean, mobile power solutions and to develop alternatives to diesel generators.
And Netflix has integrated sustainability stories into its productions, with roughly 200 offerings that dive into climate change, composting, recycling and other environmental themes of helping protect the planet.
A sustainable investment strategy that incorporates environmental, social and governance criteria may result in lower or higher returns than an investment strategy that does not include such criteria.
Netflix is one of the companies in Green Century’s Balanced Fund and is working to improve its carbon footprint and drive sustainability in the entertainment industry.