The global media, streaming and entertainment company, Paramount, has released its fifth annual Environmental, Social, and Governance (ESG) report. The report details three main areas in which the Products of Change member has focused its efforts: On-Screen Content & Social Impact; Workforce & Culture; and Sustainable Production & Operations.
Michelle Papayamakos from Paramount joined POC founder and CEO, Helena Mansell-Stopher on the panel ‘Mapping a sustainability pathway’ at Brand Licensing Europe recently, discussing Paramount’s work on furthering its sustainability activities. Michelle Papayamakos revealed that the company is in the process of getting its Science Based Targets approved while also working on a Climate Disclosure Portal (CDP) which will enable Paramount to measure itself against its peers. Paramount continues to work with POC to define its sustainability strategy for licensing in the UK.
“In today’s rapidly transforming media landscape, the ways we connect with and reflect the stories of our communities, and the steps we take to operate responsibly and sustainably, are just as important as the finished product on screen,” said Crystal Barnes, executive vice president, social impact & ESG at Paramount, on the release of the report.
A number of other highlights of Paramount’s work included in the report were its Social and Sustainability Impact at Super Bowl LVIII, where it showcased content from its Content for Change initiative, challenging bias, stereotypes and marginalisation. Paramount’s Emissions Reduction Strategy was also highlighted in the report, its Peak Sustainability initiative showing a long-term vision for the company, including benchmarks and a global strategy, bolstered by seven key climate action pledges. Also notable, was that in 2023, Paramount celebrated its 27th annual Community Day where employees participate and events and causes that are important to them and their audiences.
Meanwhile, Paramount is working to reduce its GHG emissions across its global operations. The Paramount Pictures Lot in LA has pledged to reduce its Scope 1 and Scope 2 emissions by 50% by 2028, which, as of 2023, stood at a 46% reduction.
