Paramount Publishes 2022-2023 ESG Report

Paramount Global has unveiled its fourth annual Environmental, Social, and Governance (ESG) Report, shining a spotlight on its progress across three pivotal focus areas: On-Screen Content & Social Impact, Workforce & Culture, and Sustainable Production & Operations.

Crystal Barnes, Executive Vice President of Social Responsibility & ESG at Paramount, emphasised the company's unwavering commitment amidst the dynamic landscape of the media industry.

Paramount is dedicated to engaging with, representing, and championing issues that align with its values and resonate with its diverse audiences. Barnes highlighted that, in an ever-changing world, Paramount's role as an industry leader is to craft compelling content that contributes to a more sustainable and inclusive global community.

This year's report not only presents consistent year-over-year data on workforce and environmental impact but also delves into Paramount's interactions with both internal and external stakeholders. It offers a comprehensive view of how the company collaborates to comprehend and tackle the most pressing ESG challenges and opportunities.

Among the report's standout features is the "On-Screen Content & Social Impact" section. As a global media powerhouse, Paramount understands its power to shape culture and discourse, translating into real-world effects.

Paramount's "Content for Change" initiative, initiated in 2020, leverages storytelling to reshape perceptions, combat biases, stereotypes, and societal hatred. With over 30 programmes and initiatives under its belt, Content for Change spotlights issues and narratives crucial to individual communities, putting them at the forefront for audiences.

In the "Workforce & Culture" arena, Paramount recognises that excellence in content creation requires celebrating and elevating the diversity of its working communities and the audiences it serves. The company strives to foster an inclusive, meritocratic culture where every employee feels valued and empowered. Paramount takes pride in its Board's diversity, with seven directors identifying as women, two as LGBTQ+, two as African American, and one as Hispanic or Latinx.

"Sustainable Production & Operations" remains another vital aspect of Paramount's commitment. The company continues its efforts to mitigate the environmental and social impacts tied to its operations. Notably, in 2022, Paramount introduced "Peak Sustainability," a comprehensive climate action strategy for Paramount UK. Comprising seven climate action pledges, Peak Sustainability addresses environmental concerns across ESG priorities. It catalyses Paramount's long-term vision, involving the development and attainment of internal climate benchmarks and global scaling of the climate strategy.

The ESG report adheres to external ESG frameworks, drawing from ESG and sustainability best practices such as the Global Reporting Initiative (GRI), Sustainability Accounting Standards Board (SASB), and the Task Force on Climate-related Financial Disclosures (TCFD). Paramount also underscores its alignment with pertinent United Nations Sustainable Development Goals (SDGs), including Gender Equality, Decent Work and Economic Growth, and Climate Action.

For a deeper insight into Paramount's ESG endeavours and access to the complete 2022-2023 report, please visit https://www.paramount.com/sustainability.

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Source: Paramount Global