Netflix Publishes 2022 ESG report
Netflix, Inc.
Netflix aspires to entertain the world sustainably and responsibly. In their fourth Environmental, Social, and Corporate Governance (ESG) Report, they outline their commitment to achieving these goals.
Three crucial areas stand out:
Firstly, their dedication to the environment recognises the urgency of managing climate change sustainably. Netflix has set a bold target to halve its emissions by 2030. They plan to achieve this by optimising energy usage, transitioning to electrification, and reducing carbon emissions.
Secondly, by fostering inclusion within the organisation, Netflix aims to reflect the diversity of its global audience. With offices in more than 25 countries, almost half of their employees are women, and in the United States, 50% hail from historically marginalised ethnic and racial backgrounds. Notably, representation both on and off-screen is improving, with a significant increase in female directors, showrunners, and people of colour taking on leading roles.
Thirdly, as a leader in the streaming entertainment industry, Netflix is evolving towards a more standard large-cap governance structure. This includes measures such as the phased declassification of their board, eliminating supermajority voting provisions, and implementing changes to their executive compensation programme starting in 2023.
Throughout their 25-year journey, Netflix has strived to create long-term value for all stakeholders, particularly members, shareholders, and the creative community. While progress has been made, challenges remain, such as carbon emissions from productions, which often rely heavily on fossil fuels, especially in remote locations. Nevertheless, Netflix is investing in innovative technologies to optimise and electrify energy usage in their productions for a greener tomorrow.
Amidst these sustainability efforts, Netflix is excited about the upcoming entertainment offerings this year. Returning favourites like the Emmy award-winning series "The Crown" and the recently released hit action sequel "Extraction 2," featuring Chris Hemsworth, are highly anticipated.
Moreover, new must-watch films and TV shows such as "Heart of Stone," "Rebel Moon," "Griselda," and "3 Body Problem" are set to captivate audiences. Netflix remains steadfast in their commitment to offering diverse and high-quality entertainment while always being receptive to feedback from its valued audience.
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Source: Netflix
