Media Contacts:
Andrea Ranger, aranger@greencentury.com, 781-349-2813;
Pam Podger, ppodger@greencentury.com, 802-299-9495
Boston, March 28, 2024 – In response to a Green Century° shareholder proposal, Warner Bros. Discovery has agreed to provide new information on its contribution to climate-changing emissions. By the end of this year, the company will report on a sweeping array of efforts to cut its climate footprint.
These include reporting on its direct emission reduction targets, detailing its efforts to buy renewable energy, and disclosing information on any carbon offsets purchases.
Warner Bros. Discovery was created in 2022 by the merger of two iconic companies. Prior to their merger, both Warner Bros. and Discovery had set ambitious goals to cut down greenhouse gas emissions. However, the merged company had not updated its GHG emissions reduction goals or produced a sustainability report.
“We recognize that when corporations merge, it can take some time to straighten out who’s taking the helm of different initiatives,” said Green Century Funds President Leslie Samuelrich. “But as investors who care about sustainability, we wanted to make sure that Warner Bros. Discovery did not abandon the progress made by its legacy companies.”
Warner Bros. Discovery makes advances on sustainability program
Warner Bros. Discovery has taken some important steps. For example, in 2022, it created an ESG Advisory Committee of senior leadership to steer the company’s sustainability initiatives. It also completed a climate scenario analysis, which is a complex exercise that helps companies understand how climate change creates both future risks and opportunities.
“Warner Bros. Discovery actively engages its investors and is forthright about the challenges it’s experiencing in advancing a comprehensive sustainability program,” said Green Century Shareholder Advocate Andrea Ranger. “The company offers so much environmental content, including shows about the impacts of climate change, and we believe this agreement will help the Warner Bros. Discovery avoid a situation in which its content directly contrasts with its actions on climate.”
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About Green Century
°Green Century Capital Management, Inc. (Green Century) is the investment advisor to the Green Century Funds (The Funds). The Green Century Funds are one of the first families of fossil fuel-free, environmentally responsible mutual funds. Green Century hosts an award-winning and in-house shareholder advocacy program and is the only mutual fund company in the U.S. wholly owned by environmental and public health nonprofit organizations.
*As of 12.31.2023, Warner Bros. Discovery, Inc. comprised 0.00%, 0.12%, 0.00% Green Century Balanced Fund, the Green Century Equity Fund, and the Green Century International Index Fund, respectively. As of the same date, other securities mentioned were not held in the portfolios of any of the Green Century Funds. References to specific securities, which will change due to ongoing management of the Funds, should not be construed as a recommendation by the Funds, their administrator, or their distributor.
You should carefully consider the Fund’s investment objectives, risks, charges, and expenses before investing. To obtain a Prospectus that contains this and other information about the Funds please visit www.greencentury.com, email info@greencentury.com, or call 1-800-934-7336. Please read the Prospectus carefully before investing.
Stocks will fluctuate in response to factors that may affect a single company, industry, sector, country, region or the market as a whole and may perform worse than the market. Foreign securities are subject to additional risks such as currency fluctuations, regional economic and political conditions, differences in accounting methods, and other unique risks compared to investing in securities of U.S. issuers. Bonds are subject to a variety of risks including interest rate, credit, and inflation risk.
This information has been prepared from sources believed reliable. The views expressed are as the date of this writing and are those of the Advisor to the Funds.
The Green Century Funds are distributed by UMB Distribution Services, LLC, 235 W Galena Street, Milwaukee, WI 53212. UMB Distribution Services, LLC is not an affiliate of Green Century or any of its affiliates. March 2024.