NEW YORK, September 9, 2022 /PRNewswire/ — Paramount Global (NASDAQ: PARA, PARAA) today released its third annual Environmental, Social and Governance (ESG) Report with the aim of advancing the company’s ESG strategy and to highlight its progress against its goals in three priority areas: Screen Content and Social Impact; Workforce and culture; and Sustainable Production and Operations.

“From escalating health and climate crises to deepening social divisions and geopolitical conflict, the past few years have shown us how critical our focus on ESG is as our society and business continue to face to complex global challenges,” said Crystal Barnes, SVP of Corporate Social Responsibility and ESG at Paramount. “Our actions at Paramount help shape culture and conversation, with real-world impacts – and we are more committed than ever to our duty and our opportunity to provide responsible, informative and culturally powerful content that can help shaping a more sustainable and inclusive world.”

In addition to updated workforce and environmental impact data, this year’s report provides a more detailed look at the company’s ESG governance practices, including Paramount’s ESG Council governance structure. Additionally, as the company continues to focus on promoting diversity and inclusion in front of and behind the camera, it includes an update on its overall efforts to advance this work through the global initiative and multi-brand of the company, Content for change.

Other notable aspects of the report include:

  • Diverse and inclusive stories and storytellers: Over the years, Paramount and its brands have led the way in telling and amplifying the stories of underrepresented audiences. Most recently, this commitment was exemplified by CBS-NAACP Ventures – a partnership first announced in 2020 – which sold its first five projects in January 2022, including a reboot of the Newand a new film about the revolutionary building mogul Cheryl McKissack. Additionally, on-screen content and social impact goals have been set for a number of Paramount brands for 2022 and many have already demonstrated great progress, including Showtime Networks, which in 2022 had 60% of its scripted series with BIPOC leads or co-leads, as well as 56% of its projects in development from BIPOC creators; CBS Television Network exceeded its goal with 43% BIPOC representation in Writers’ Rooms in 2021-22; and as of 2022, Paramount’s International Studios has dedicated 25% of its development budget across its entire international footprint to stories focusing on or relating to underrepresented groups and issues.
  • Corporate Governance and Workforce: Corporate governance is critical to the success of Paramount’s business, and with a Board of Directors comprised of seven of 12 women (one of the highest percentages among S&P 500 companies), Paramount is committed to continue to be a leader in this field. Notably, in 2021, Paramount’s internal promotion rate for women at the SVP level reached 56% and its external hire rate for women at the SVP level and above reached 53% globally. Additionally, in the United States, the internal promotion rate for ethnically diverse vice presidents was 30% and the external hire rate for ethnically diverse vice presidents and above was 51%.
  • Sustainable production and operations: Paramount continues to work to limit the environmental and social impacts associated with its business activities. For example, 15.4% of its global electricity consumption is renewable, up from 13.6% in 2020. Paramount also supports a centralized food recovery program to help get extra meals from productions and events to banks. local food. Reducing and diverting waste generated from Paramount productions and events not only saves resources, but also reduces GHG emissions associated with the production and disposal of materials. In 2021, 51% of waste from Paramount Television Studios and Motion Picture Group productions was diverted from landfill; for example, the Long Exhale slowly production diverted 134 tonnes of waste from landfill by recycling and using rented or repurposed materials where possible.

ESG reporting is guided by external ESG frameworks aligned with ESG and sustainability best practices, including the Global Reporting Initiative (GRI), the Sustainability Accounting Standards Board (SASB) and the Task Force on Climate-Related Financial Disclosures (TCFD). It also outlines the company’s alignment with relevant United Nations Sustainable Development Goals (SDGs), including gender equality, decent work and economic growth, and climate action.

To learn more about Paramount’s ESG efforts and to view the full 2021-2022 report, please visit https://www.paramount.com/sustainability.

ABOUT PARAMOUNT

Paramount Global (NASDAQ: PARA, PARAA) is a leading global media and entertainment company that creates premium content and experiences for audiences around the world. Driven by iconic studios, networks and streaming services, Paramount’s consumer brand portfolio includes CBS, Showtime Networks, Paramount Pictures, Nickelodeon, MTV, Comedy Central, BET, Paramount+, Pluto TV and Simon & Schuster, among others. Paramount provides the largest share of the US television audience and has one of the largest and most extensive libraries of television and film titles in the industry. In addition to offering innovative streaming services and digital video products, the company provides powerful capabilities in production, distribution and advertising solutions.

For more information about Paramount, visit www.paramount.com and follow @Paramount on social platforms.

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