"Netflix Inc. has set a net zero target, which was validated by an independent third party and achieved ahead of its 2022 deadline. Net Zero Tracker The target covers Carbon dioxide and other GHGs, including scope 1, 2, and 3 emissions, but does not cover historical emissions. Net Zero Tracker By 2030, Netflix aims to reduce its scope 1 and 2 emissions by 46% and its scope 3 emissions intensity by 55%. Net Zero Tracker An interesting fact about Netflix's environmental policy is that it conducts additional screens for factors such as local community ownership, job creation, women and girls …"
Carbon emissions are estimated according to comparable years, intensity and sector
Performance vs. Target
Note: Targets without baseline are ignored. In case several targets
exist, only the shorter-term target is
Value Chain (scope 3) Emissions by Category
Emissions Trajectory (Full Scopes)
Please refer to the library for viewing the supporting documentation
Note: Latest GHG and revenue data (based on tradingview.com) are used to calculate GHG
emissions intensity by sector. The color scale of each bubble depends on the GHG intensity (GHG emissions per 1
million USD revenue).
Sectors follow the Global Industry Classification Standard (GICS) that organize companies based on their primary
business activities. The 11 sectors are : Information Technology, Health Care, Financials, Consumer
Discretionary, Communication Services, Industrials, Consumer Staples, Energy, Utilities, Real Estate, and
Netflix Inc. belongs to the sector Communication Services.
Netflix Inc. is a member of the Business Ambition for 1.5 campaign (link here )
Netflix commits to reduce absolute scope 1 and 2 GHG emissions 46.2% by 2030 from a 2019 base year. Netflix also commits to reduce scope 3 GHG emissions 55% per million USD of value added within the same timeframe.
Separate targets for emission reductions and removals
Conditions on use of offset credits
Avoid biodiversity harm
Avoid social harm
Must be high environmental integrity
Plans for carbon dioxide removal (CDR)
Additional notes: Carbon credit portfolio detailed on p29-30 - all external.
Appendix p13 describes the credit screening criteria.
They're already net-zero including carbon credits, so their 2030 target covers absolute emissions.
p28: "Netflix does extensive due diligence before including a project in our portfolio, using a rigorous five step evaluation process [Appendix p13] to select the highest quality credits, all of which need to demonstrate their value beyond the carbon, including social impact, community and biodiversity benefits. We review transparency and integrity work from groups like VCMI and ICV-CM, and stay abreast of methodologies from third party credit standards bodies to continually refine our vetting process.
Nature-based projects make up 64% of our portfolio because of their ecosystem benefits and potential to bring economic value to the region, including indigenous people or those disproportionately affected by climate change."
Appendix, p13: "Any credits that we purchase must meet globally recognized core quality criteria: they must be additional, verified, based on a realistic baseline, not double counted and issued by a credible standard that has robust provisions in place to address permanence (the risk of reversal) and leakage (the risk of displacing emissions from one location to another). We only purchase credits that have been third-party verified and registered on a trusted registry, including – Verra, Gold Standard, Climate Action Reserve and American Carbon Registry – or have demonstrated an equivalent level of rigor."
"We also conduct additional screens for: local community ownership and direct benefit sharing; job creation and training; women and girls empowerment; biodiversity and habitat restoration and protection (e.g., Verra Climate, Community & Biodiversity certified projects); and climate resilience impacts."
At least 2 years of GHG emissions for scope 1 and 2 are publicly-available and externally-verified
Scope 3 emissions are fully reported and externally-verified
CDP score demonstrates the level of transparent disclosures
Net Zero Commitments by 2050 include an intermediate target and cover all the emissions
Net Zero targets demonstrate a high-level of emergency
Emission reduction targets on a forward-looking basis are ambitious