ViacomCBS is a leading global media and entertainment company headquartered in New York City, United States. The company was formed in December 2019 through the merger of Viacom Inc. and CBS Corporation. ViacomCBS operates a portfolio of brands that includes CBS, Showtime, Nickelodeon, MTV, BET, Paramount Pictures, and many others. The company’s content reaches more than 4 billion viewers in over 180 countries.
As a large corporation, ViacomCBS has a responsibility to address the challenges of climate change and reduce its carbon footprint. The company has made a commitment to decarbonisation and has set a goal to achieve net-zero greenhouse gas emissions by 2050. To achieve this goal, ViacomCBS is implementing a range of initiatives to reduce its energy consumption and transition to renewable energy sources.
One of the key initiatives that ViacomCBS is pursuing is the use of corporate power purchase agreements (PPAs) to source renewable energy. Corporate PPAs are long-term contracts between a company and a renewable energy provider, typically a wind or solar farm. These contracts provide a stable and predictable source of renewable energy and can help companies to reduce their carbon footprint while also saving money on energy costs.
ViacomCBS has signed several corporate PPAs to source renewable energy for its operations. In 2019, the company signed a 12-year agreement to purchase 100% of the energy generated by a 70 MW solar facility in Texas. The solar farm will provide renewable energy to power ViacomCBS’s offices and studios in New York City. The company has also signed a 20-year agreement to purchase 100 MW of wind energy from a wind farm in Nebraska. This wind energy will be used to power ViacomCBS’s offices and data centers in New Jersey.
In addition to corporate PPAs, ViacomCBS is also investing in on-site renewable energy generation. The company has installed solar panels on the roofs of its offices and studios in New York City, which generate renewable energy to power the buildings. ViacomCBS has also installed energy-efficient lighting and HVAC systems in its facilities to reduce energy consumption.
ViacomCBS is also working to reduce its overall energy consumption through energy efficiency measures. The company has implemented a range of initiatives to reduce energy use in its offices and studios, including the use of energy-efficient lighting, HVAC systems, and office equipment. ViacomCBS has also implemented a company-wide energy management program to track and reduce energy consumption across its operations.
ViacomCBS is committed to reducing its carbon footprint and transitioning to renewable energy sources. The company’s initiatives to source renewable energy through corporate PPAs, on-site generation, and energy efficiency measures are helping to reduce its greenhouse gas emissions and contribute to the fight against climate change. ViacomCBS is also setting an example for other corporations to follow, demonstrating that it is possible to reduce energy consumption and transition to renewable energy sources while also achieving cost savings and other benefits.