Environmental, Social, and Governance
“At Warner Bros. Discovery, our mission is to be the greatest entertainment company in the world. Recognizing that our content reaches billions of people around the globe, we share a deep commitment to telling impactful stories that reflect the full range of human experiences and shape culture in a meaningful way. As we see it, we have an opportunity and a responsibility to make a difference in society and in our communities, and our strong focus on ESG underscores this commitment. It is core to who we are and we’re a better company for it.”David Zaslav, Warner Bros. Discovery
President & CEO, 2023
Sustainability Supports Our Success
At Warner Bros. Discovery, we strive to be the global leader in media and entertainment, serving audiences and consumers around the world with content that informs, entertains, and, when we are at our best, inspires.
We have a rich history of achieving positive, lasting impact through both our on-screen content and off-screen activities. Warner Bros. Discovery was created in April 2022 with the acquisition of Warner Media by Discovery, Inc. As a combined company, we are building on our strong legacies with the goal to do well as a business, while also doing good as members of communities around the world.
Warner Bros. Discovery intends to build upon our previous commitments and legacy programs as a champion for the diverse voices, perspectives, and experiences in our workforce and our world, and, ultimately, foster a respected, successful, sustainable, and inclusive global media and entertainment company. We are guided by our stakeholders and third-party frameworks including the Sustainability Accounting Standards Board (SASB) Media & Entertainment standard and the Task Force on Climate-related Financial Disclosures (TCFD).
To help build upon our rich history and opportunity, we recently completed a sustainability materiality assessment, led by an external organization, to guide our strategies and disclosures.
We are excited to share more in our first sustainability report for the combined Warner Bros. Discovery, which we plan to publish in 2024.
ESG Governance Structure
The Warner Bros. Discovery Board provides oversight of Environmental, Social and Governance (ESG) activities through the Nominating and Corporate Governance Committee and Audit Committee.
The Nominating and Corporate Governance Committee is responsible for overseeing and monitoring the Company’s strategy, policies, commitments, and initiatives with respect to ESG matters. The Audit Committee reviews the Company’s key public ESG disclosures and the adequacy and effectiveness of applicable internal reporting and controls related to such disclosures and oversees key finance-related initiatives related to ESG. To ensure that ESG is appropriately managed throughout the organization, we have designed the following governance structure:
- Board of Directors ESG oversight is provided by the Nominating and Corporate Governance Committee and Audit Committee
- CEO The CEO provides executive direction on ESG strategy
- Corporate Leadership Team ESG at WBD is led by our EVP, Global Head of ESG, reporting directly to Warner Bros. Discovery’s Chief Legal Officer, and is supported by our other senior executives including our Chief People and Culture Officer and Chief Diversity Equity and Inclusion Officer
- ESG/CSR Team Supports WBD’s ESG strategy and is directly accountable for WBD’s environmental strategy
- ESG Steering Committee Senior leaders from operating divisions and corporate functions who meet to drive decision making, accountability, and ownership of specific ESG initiatives.