Discovery, Inc. is a leading global media company that operates in the Cable Networks sector. The company was founded in 1985 and is headquartered in Silver Spring, Maryland, United States. Discovery, Inc. is known for its popular television networks such as Discovery Channel, TLC, Animal Planet, HGTV, and Food Network, among others. The company reaches over 220 countries and territories around the world, and its content is available in over 50 languages.
Discovery, Inc. is committed to sustainability and decarbonisation. The company recognises the urgent need to reduce its carbon footprint and has set ambitious goals to achieve this. In 2019, Discovery, Inc. announced its plan to reduce its greenhouse gas emissions by 40% by 2025. The company has also committed to sourcing 100% renewable energy for its global operations by 2030.
To achieve these goals, Discovery, Inc. is implementing a range of measures to reduce its energy consumption and increase its use of renewable energy. The company is investing in energy-efficient technologies and practices, such as LED lighting and smart building systems, to reduce its energy consumption. Discovery, Inc. is also exploring the use of renewable energy sources, such as solar and wind power, to power its operations.
One of the key ways that Discovery, Inc. is increasing its use of renewable energy is through corporate power purchase agreements (PPAs). A corporate PPA is a long-term contract between a company and a renewable energy provider, such as a wind or solar farm. The company agrees to purchase a certain amount of renewable energy from the provider at a fixed price over a set period of time. This provides the renewable energy provider with a stable revenue stream, which enables them to finance the construction of new renewable energy projects.
Discovery, Inc. has signed several corporate PPAs to increase its use of renewable energy. In 2019, the company signed a 12-year PPA with Enel Green Power North America to purchase 60 MW of solar energy from a new solar farm in Texas. This PPA will provide Discovery, Inc. with enough renewable energy to power its global operations in the United States, Europe, and Asia. The company has also signed a PPA with the Tennessee Valley Authority to purchase 50 MW of renewable energy from a new solar farm in Alabama.
In addition to corporate PPAs, Discovery, Inc. is also investing in on-site renewable energy projects. The company has installed solar panels at several of its facilities, including its headquarters in Maryland and its London office. These solar panels generate renewable energy on-site, which reduces the company's reliance on grid electricity and lowers its carbon footprint.
Discovery, Inc. is also committed to reducing its energy consumption through energy efficiency measures. The company has implemented a range of energy-saving technologies and practices, such as LED lighting, smart building systems, and energy-efficient HVAC systems. These measures have helped the company to reduce its energy consumption and lower its carbon footprint.
To further reduce its carbon footprint, Discovery, Inc. is also exploring the use of carbon offsets. A carbon offset is a credit that represents the reduction or removal of one tonne of carbon dioxide equivalent (CO2e) from the atmosphere. Companies can purchase carbon offsets to compensate for their own greenhouse gas emissions. Discovery, Inc. is exploring the use of carbon offsets to offset its remaining emissions after it has implemented all of its energy efficiency and renewable energy measures.
In conclusion, Discovery, Inc. is a leading global media company that is committed to sustainability and decarbonisation. The company has set ambitious goals to reduce its greenhouse gas emissions and increase its use of renewable energy. Discovery, Inc. is implementing a range of measures to achieve these goals, including corporate PPAs, on-site renewable energy projects, energy efficiency measures, and carbon offsets. By taking these actions, Discovery, Inc. is demonstrating its commitment to sustainability and its leadership in the Cable Networks sector.