Boston, March 28, 2024 – In response to a Green Century shareholder proposal, Warner Bros. Discovery has agreed to provide new information on its contribution to climate-changing emissions. By the end of this year, the company will report on a sweeping array of efforts to cut its climate footprint.
These include reporting on its direct emission reduction targets, detailing its efforts to buy renewable energy, and disclosing information on any carbon offsets purchases.
Warner Bros. Discovery was created in 2022 by the merger of two iconic companies. Prior to their merger, both Warner Bros. and Discovery had set ambitious goals to cut down greenhouse gas emissions. However, the merged company had not updated its GHG emissions reduction goals or produced a sustainability report.
“We recognize that when corporations merge, it can take some time to straighten out who’s taking the helm of different initiatives,” said Green Century President Leslie Samuelrich. “But as investors who care about sustainability, we wanted to make sure that Warner Bros. Discovery did not abandon the progress made by its legacy companies.”
Warner Bros. Discovery makes advances on sustainability program
Warner Bros. Discovery has taken some important steps. For example, in 2022, it created an ESG Advisory Committee of senior leadership to steer the company’s sustainability initiatives. It also completed a climate scenario analysis, which is a complex exercise that helps companies understand how climate change creates both future risks and opportunities.
“Warner Bros. Discovery actively engages its investors and is forthright about the challenges it’s experiencing in advancing a comprehensive sustainability program,” said Green Century Shareholder Advocate Andrea Ranger. “The company offers so much environmental content, including shows about the impacts of climate change, and we believe this agreement will help the Warner Bros. Discovery avoid a situation in which its content directly contrasts with its actions on climate.”