2022 report reaffirms commitment to ESG,
including through new targets on
People, Workplace, and DEI agendas, and the announcement of a
partnership for
more sustainable records
NEW
YORK, Jan. 26, 2023 /PRNewswire/ -- Warner Music
Group (Nasdaq: WMG) today released its 2022 Environmental,
Social, Governance (ESG) report. Last year, WMG became the first
major music company to release a standalone ESG report, beginning
to translate long-standing grassroots commitments into a more
formal approach. The latest report shares progress in areas
including employee experience, social impact, diversity, equity,
and inclusion (DEI), and climate change, while setting new targets
for 2023 and beyond.
The report coincides with WMG's CEO transition and was
introduced by WMG's new CEO Robert
Kyncl and outgoing CEO Steve
Cooper.
Robert Kyncl said, "Music is a
powerful and positive force, and WMG is filled with passionate
change-makers and champions of culture. This report highlights the
strong foundation for the company's continued evolution that's been
built under Steve's leadership. As we chart the next phase of our
long-term growth, we're committed to our ESG efforts as a critical
part of our plan for WMG as a more dynamic, inclusive, and
sustainable company."
The 2022 report highlights include:
Environmental
- Work to reduce Green House Gas (GHG) emissions by measuring
WMG's annual global footprint and setting targets in line with
climate science to reduce emissions and procure renewable
energy.
- Building on several supplier partnerships to produce more
sustainable record options, particularly recycled vinyl, WMG is
thrilled to announce a new effort with Sonopress to provide fans
with records that use an estimated eight times less energy, reduce
GHG emissions per record by approximately 85%, and have the same
sound quality as traditional vinyl. Sales of these records will be
piloted in 2023 with a view to scale over time.
- Reduced output of virgin raw plastic traditionally used for
physical audio products and packaging by approximately 520
tonnes.
Social
- Certification as a Great Place to Work™ in the U.S. for the
second year and in Spain, and
designated as a Best Place to Work for LGBTQ+ Equality by the Human
Rights Coalition for the third year running.
- The launch of WMG's DEI Institute, a hub for innovation,
learning, and action. The Institute offers educational series and
training sessions with external expert faculty. It was awarded Best
Initiative to Support Diversity & Inclusion in Music at the
2022 Music Cities Awards.
- Five new global targets to make progress in the areas of:
talent development, employee wellbeing, workplace experience, DEI
learning and development, and DEI plans tailored for each
region.
- WMG-led industry wide effort, with more than 100 artists and
songwriters, companies, organizations, and legal scholars, to call
to Protect Black Art and urge U.S. legislators to limit the
practice of using lyrics as confessions in trials.
- WMG's legacy unrecouped advances program saw approximately
4,500 artists and related producers benefit globally in its first
year.
- The Warner Music Group / Blavatnik Family Foundation Social
Justice Fund has over $25 million in
grant commitments to date and has supported a roster of more than
30 organizations through its Core Grants Fund.
Governance
- Strengthened compliance protocols and controls, and reinforced
compulsory anti-harassment trainings.
- WMG, along with Sony Music Group and Universal Music Group, won
landmark victories against large-scale copyright theft.
Click here to read the report.
About Warner Music Group
With a legacy extending back
over 200 years, Warner Music Group (WMG) today brings together
artists, songwriters, and entrepreneurs that are moving
entertainment culture across the globe. Operating in more than 70
countries through a network of affiliates and licensees, WMG's
Recorded Music division includes renowned labels such as 300
Entertainment, Asylum, Atlantic, Big Beat, Canvasback, Elektra,
Erato, First Night, Fueled by Ramen, Nonesuch, Parlophone, Reprise,
Rhino, Roadrunner, Sire, Spinnin', Warner
Records, Warner Classics, and Warner Music Nashville. WMG's
music publishing arm, Warner Chappell
Music, has a catalog of over one million copyrights spanning
every musical genre, from the standards of the Great American
Songbook to the biggest hits of the 21st century. Warner Music
Group is also home to ADA, the independent artist and label
services company – as well as next gen artist services division
WMX, which includes consumer brands such as Songkick, the live
music app; EMP, the merchandise e-tailer; UPROXX, the youth culture
destination; and HipHopDX, the hip-hop music news site. In
addition, WMG counts storytelling powerhouse Warner Music
Entertainment and social media content creator IMGN among its many
brands. Follow WMG on Instagram, Twitter, LinkedIn, and
Facebook.
Media Contact:
Summer
Wilkie
Summer.Wilkie@wmg.com
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SOURCE Warner Music Group Corp.