Net Zero Strategies in the Media Sector – Thematic Intelligence

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Net Zero Strategies in Media Thematic Overview

Net zero means cutting greenhouse gas emissions (GHG) to as close to zero as possible. Firms that achieve net zero emissions are called “carbon neutral.” Companies are under pressure to cut emissions as countries aim to achieve their climate commitments. Emissions are offset by supporting projects that reduce emissions or remove greenhouse gases from the atmosphere.

Business operations generate Scope 1 and 2 emissions which make up more than 30% of total emissions on average. The main contributors to Scope 1 and Scope 2 emissions in the media sector are electricity and fuel.

The “Net Zero Strategies in Media” thematic intelligence report gives you an in-depth insight into the net zero targets and performance of 20 leading media companies. The report elucidates the importance of a net zero strategy in the media sector along with the progress made by the leading retailers to achieve the emission target. These detailed analyses are critical in developing effective business plans to gain a competitive edge.

A Stylized Net Zero Strategy

A Stylized Net Zero Strategy

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Leading Companies ·        Netflix

·        News Corp

·        Bloomberg

·        Comcast

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Media Sector - Scope 1, 2, and 3 Emissions Strategies

Media companies are reducing Scope 1 and 2 emissions through three key strategies which are carbon offsets, renewable energy and energy efficiency, and green content production. A single carbon offset represents the avoidance or removal of one ton of CO2e from the atmosphere. By far the most popular type of offset is an avoidance offset. In an avoidance offset, a project reduces emissions compared to a baseline scenario in which the project was not undertaken. Most avoidance projects aim to protect forests from deforestation.

For Scope 3 emissions, media companies set up emission targets, launch and participate in internal and industry-wide emission reduction projects, engage with suppliers, and ensure that emissions from business travels and employee commuting are reduced. In addition, media companies encourage renewable energy usage in data centers and encourage consumers to consume products and services in more carbon-friendly ways.

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Media Sector - Net Zero Strategies of Leading Companies

A few media companies evaluated in this report are Netflix, News Corp, Bloomberg, and Comcast, among others. Netflix, News Corp, and Bloomberg aim to reduce Scopes 1 and 2 emissions by a certain percentage by 2030. Meanwhile, Comcast aims to be carbon neutral for Scope 1 and Scope 2 market-based emissions by 2035. For this purpose, the company is mitigating its carbon footprint and is using the most up-to-date clean technologies to minimize the environmental impact of its operations.

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This report provides an overview of Scope 1, 2, and 3 emissions of 20 selected media companies and then explores the strategies used by them to cut their emissions.

Key Highlights

  • Of the 20 selected media companies analyzed in this report, 15 have set either a short or long-term target to reduce their emissions.
  • Scope 1 and 2 emissions, which are generated by business operations, make up around one-third of total emissions on average. The main contributors to Scope 1 and Scope 2 emissions in the media sector have been electricity and fuel.
  • Most emissions in the media sector are value chain emissions, known as Scope 3 emissions. These are the most difficult types of emissions to measure and reduce as they are generated by assets now owned by the company.

Reasons to Buy

By reading this report, readers will be able to:

  • Find out about the main Scope 1, 2, and 3 emission sources for 20 media companies operating across publishing, film, TV, music, social media, advertising, and gaming.
  • Identify which of the 20 media companies are decreasing their emissions and learn about the emission trends in the sector.
  • Understand how some of the leading media companies are attempting to reduce their emissions and the most common emission reduction strategies used in the sector.

Evolution Gaming
Fox Corporation
Liberty Media Group
New York Times
News Corp
Paramount Global
Thomson Reuters
Walt Disney
Warner Music Group
Wolters Kluwer

Table of Contents

Executive Summary

Why Media Companies Need a Net Zero Strategy

Emissions Targets and Performance

Scope 1 and 2 Emissions Strategies

Scope 3 Emissions Strategies

Net Zero Strategies of Leading Companies


Further Reading

Our Thematic Research Methodology

Contact Us

Frequently asked questions

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