ViacomCBS Releases First Environmental, Social and Governance (ESG) Report
ViacomCBS (NASDAQ: VIAC, VIACA) today released its first Environmental, Social and Governance (ESG) Report, Action: ESG at ViacomCBS, highlighting how the company is addressing the ESG impacts that are most important to its business and stakeholders.
The report, released nearly one year after the merger of Viacom (News - Alert) and CBS in December 2019, focuses on data through 2019 and the company's global ESG priorities to date in three core areas: On-screen Content and Social Impact, Workforce and Culture and Sustainable Production and Operations. The report also provides select data and details on ViacomCBS' efforts thus far in 2020, including the company's strong response to the ongoing COVID-19 pandemic and events of racial injustice in the United States.
"ViacomCBS is focused on how we use the power of our platforms as content creators to meaningfully impact the issues that matter to our employees, audiences, partners, communities and investors," said Bob Bakish, President and CEO of ViacomCBS. "As we all continue to cope with the ongoing impact of COVID-19, as well as a racial reckoning in the US, we recognize and embrace our unique role as a global content powerhouse that shapes culture, social attitudes and societal outcomes. We're committed to the opportunity and responsibility that comes with this reach and are proud to share how our company is taking action in our ESG report."
The ESG report expands on ViacomCBS' first materiality assessment, published earlier this year, and is guided by external ESG frameworks, including the Global Reporting Initiative, Sustainability Accounting Standards Board and Task Force on Climate-related Financial Disclosures. It also outlines the company's alignment with relevant United Nations Sustainable Development Goals, including Gender Equality, Decent Work and Economic Growth and Climate Action.
Among the priority areas addressed in this report, actions by ViacomCS include:
Responding to COVID-19:
On-screen Content and Social Impact:
Workforce and Culture:
Sustainable Production and Operations:
"Whether we're amplifying diverse voices, championing inclusion and equity in the workplace or crafting a new, more sustainable path for our productions, ViacomCBS is committed to using our reach in the best way possible," said Crystal Barnes, SVP of Corporate Social Responsibility and ESG. "While we know we have more work to do, this ESG report reflects our dedication to greater transparency and disclosure as we continue to develop our ESG strategy and strengthen our impact in these areas going forward. This is just one of the many steps ahead on our ESG journey."
To learn more about ViacomCBS' ESG efforts and to view the full report, please visit https://www.viacomcbs.com/sustainability.
ViacomCBS (NASDAQ: VIAC; VIACA) is a leading global media and entertainment company that creates premium content and experiences for audiences worldwide. Driven by iconic consumer brands, its portfolio includes CBS, Showtime Networks, Paramount Pictures (News - Alert), Nickelodeon, MTV, Comedy Central, BET, CBS All Access, Pluto TV and Simon & Schuster, among others. The company delivers the largest share of the US television audience and boasts one of the industry's most important and extensive libraries of TV and film titles. In addition to offering innovative streaming services and digital video products, ViacomCBS provides powerful capabilities in production, distribution and advertising solutions for partners on five continents.
For more information about ViacomCBS, please visit www.viacomcbs.com and follow @ViacomCBS on social platforms.