Warner Music Group (WMG) has received validation for its greenhouse gas (GHG) emissions reduction targets from the Science Based Targets initiative (SBTi). SBTi is a corporate climate action initiative that ensures the targets align with the principles of the Paris Agreement.
WMG's newly confirmed targets involve reducing its absolute scope 1 and 2 GHG emissions by 54.6% by the fiscal year 2033, using 2023 as the base year. The company also aims for a 32.5% reduction in its absolute scope 3 emissions, which encompass emissions from purchased goods and services, upstream transportation, distribution, and business travel in the same timeframe.
Olga LaBelle, WMG's Vice President of Environmental, Social, and Governance (ESG), commented on the approval, stating that it highlights WMG's commitment to not only climate action but also to inspiring artists, fans, and the broader music community to take meaningful action against climate change.
The SBTi's objectives emphasize limiting global warming to well below 2°C to pursue efforts to limit the increase to 1.5°C. WMG revealed that its primary sources of scope 1 and 2 emissions come from on-site combustion, cooling, and heating processes, as well as purchased electricity, with the total from these sources making up less than 5% of its total annual emissions. The bulk of WMG's emissions are categorized under scope 3.
In 2021, WMG joined the Music Industry Climate Pact, committing to set benchmarks for environmental responsibility. To establish a baseline GHG footprint, the company gathered data from its global facilities located in 46 countries, and collaborated with partners to collect data across the entire value chain including production, distribution, and employee travel.
WMG has previously announced a commitment to sourcing 100% renewable energy across its global operations by 2030. As part of its sustainability efforts, WMG has introduced tools like the Vinyl Life Cycle Assessment (LCA) to evaluate the ecological impact of vinyl records, alongside the EcoRecord, a record made from recyclable PET, which is the most widely recycled plastic in the world.
For further details on WMG's climate initiatives, you can read more here.