NEW YORK, Sept. 9, 2022 /PRNewswire/ — Paramount Global (NASDAQ: PARA, PARAA) at present launched its third annual Environmental, Social, and Governance (ESG) Report with the objective of advancing the corporate’s ESG technique and highlighting its progress on its objectives in three focus areas: On-Screen Content & Social Impact; Workforce & Culture; and Sustainable Production & Operations.
“From escalating public well being and local weather crises to deepening social division and geopolitical battle, the previous few years have proven us how crucial our deal with ESG is as our society and enterprise proceed to navigate complicated world challenges,” stated Crystal Barnes, SVP of Corporate Social Responsibility and ESG at Paramount. “Our actions at Paramount assist form tradition and dialog, with real-world impacts—and we’re extra dedicated than ever to our responsibility and alternative to ship accountable, informative, and culturally highly effective content material that may assist form a extra sustainable and inclusive world.”
In addition to up to date workforce and environmental impression information, this 12 months’s report offers a extra detailed overview of the corporate’s ESG governance practices, together with Paramount’s ESG Council governance construction. Additionally, as the corporate continues to deal with advancing range and inclusion in entrance and behind the digital camera, it consists of an replace on its overarching efforts to advance this work by means of the corporate’s world, cross-brand initiative, Content for Change.
Other notable points of the report embrace:
- Diverse and Inclusive Stories and Storytellers: Over the years, Paramount and its manufacturers have led the way in which in telling and amplifying the tales of underrepresented audiences. Most just lately, that dedication has been exemplified by CBS-NAACP Ventures—a partnership first introduced in 2020—which bought its first 5 tasks in January of 2022, together with a reboot of the Nine, and a brand new movie in regards to the pathbreaking constructing magnate Cheryl McKissack. Additionally, on-screen content material and social impression objectives have been set for quite a lot of Paramount manufacturers for 2022 and plenty of have already demonstrated nice progress, together with Showtime Networks, which in 2022 had 60% of its scripted sequence with BIPOC leads or co-leads, in addition to 56% of its tasks in growth from BIPOC creators; CBS Television Network surpassed its objective with 43 % BIPOC illustration in writers’ rooms in 2021-2022; and beginning in 2022, Paramount’s International Studios devoted 25% of its growth price range throughout its worldwide footprint to tales centered on or associated to underrepresented teams and points.
- Corporate Governance and Workforce: Corporate governance is essential to the success of Paramount’s enterprise and, with a Board of Directors comprised of seven girls out of 12 members (one of many highest percentages amongst S&P 500 corporations), Paramount is dedicated to persevering with to be a frontrunner on this area. Notably, in 2021, Paramount’s inside promotion charge for girls on the SVP degree reached 56% and its exterior rent charge for girls on the SVP degree and above reached 53% globally. Additionally, within the U.S., the interior promotion charge for ethnically various VPs was 30% and the exterior rent charge for ethnically various VPs and above was 51%.
- Sustainable Production and Operations: Paramount continues to work to restrict the environmental and social impacts related to its enterprise operations. For instance, 15.4% of its world electrical energy consumption is renewable, up from 13.6% in 2020. Paramount additionally helps a centralized meals restoration program to assist route further meals from productions and occasions to native meals banks. Reducing and diverting waste generated by Paramount productions and occasions not solely saves sources however reduces GHG emissions related to the manufacturing and disposal of supplies. In 2021, 51% of waste from Paramount Television Studios and Motion Picture Group productions was diverted from landfill; for instance, the LongSlow Exhale manufacturing diverted 134 tons of waste from the landfill by recycling and utilizing rented or reused set supplies wherever doable.
The ESG report is guided by exterior ESG frameworks in alignment with ESG and sustainability greatest practices, together with the Global Reporting Initiative (GRI), Sustainability Accounting Standards Board (SASB), and the Task Force on Climate-related Financial Disclosures (TCFD). It additionally outlines the corporate’s alignment with related United Nations Sustainable Development Goals (SDGs), together with Gender Equality, Decent Work and Economic Growth, and Climate Action.
To study extra about Paramount’s ESG efforts and to view the complete 2021-2022 report, please go to https://www.paramount.com/sustainability.
Paramount Global (NASDAQ: PARA, PARAA) is a number one world media and leisure firm that creates premium content material and experiences for audiences worldwide. Driven by iconic studios, networks and streaming providers, Paramount’s portfolio of client manufacturers consists of CBS, Showtime Networks, Paramount Pictures, Nickelodeon, MTV, Comedy Central, BET, Paramount+, Pluto TV and Simon & Schuster, amongst others. Paramount delivers the most important share of the U.S. tv viewers and boasts one of many trade’s most necessary and in depth libraries of TV and movie titles. In addition to providing revolutionary streaming providers and digital video merchandise, the corporate gives highly effective capabilities in manufacturing, distribution, and promoting options.
For extra details about Paramount, please go to www.paramount.com and observe @Paramount on social platforms.
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SOURCE Paramount Global