GlobalData offers a comprehensive analysis of Walt Disney, providing key insights into its Environmental, Social, and Governance(ESG) factors. By closely monitoring and aggregating mentions of climate change and associated ESG keywords, GlobalData delivers valuable information on Walt Disney‘s ESG performance. GlobalData’s company profile on Walt Disney offers a 360-degree view of the company, SWOT analysis, key financials, and business strategy including insights on ESG implementation among other information. Buy the report here.
Walt Disney is committed to achieving net-zero greenhouse gas (GHG) emissions for its direct operations by 2030. The company aims to reduce its absolute Scope 1 and Scope 2 GHG emissions by 46.2% by 2030, compared to a 2019 baseline. Additionally, Disney is committed to reducing its Scope 3 emissions in line with a "well below 2°C" scenario by 2030. These targets align with the company's dedication to UN Sustainable Development Goal 13: Climate Action. In 2022, the company reported scope 1 emissions of 901,714 MT CO2e. Scope 2 emissions, both location-based and market-based, were 702,062 MT CO2e and 679,506 MT CO2e, respectively. The total scope 1 & 2 emissions for both location-based and market-based calculations were 1,603,776 MT CO2e and 1,581,220 MT CO2e, respectively.
In fiscal 2022, Disney took several steps to reduce its carbon emissions and achieve its net-zero targets. The Disney Wish, a new cruise ship, was primarily powered by liquefied natural gas, which significantly reduces emissions and pollutants compared to traditional diesel or marine fuel. Disneyland Paris also contributed to emission reduction efforts by offering guests limited-edition bags and pouches made from recycled materials. Furthermore, the company diverted 58% of its total operational waste from landfills and incineration in fiscal 2022.
Disney has made investments in renewable energy to support its emission reduction goals. The utility serving Walt Disney World Resort is expected to bring two 75-megawatt solar facilities online, projected to increase the resort's renewable energy consumption to nearly 40% of its annual total power use. As of fiscal 2022, Disney has commissioned or announced over 200 megawatts of solar capacity. As of December 2022, the company has revised its emission reduction goals to encompass a broader value chain. Additionally, there are plans to submit these goals to the Science Based Targets initiative for validation.
The company discloses its climate-related information through its annual response to the CDP Climate Change survey and follows the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD). Disney's emissions calculations are based on estimated and extrapolated data, relying on third-party emission factor databases and industry averages. The company aims to continuously improve its Scope 3 emissions estimates over time.
In conclusion, Walt Disney is committed to achieving net-zero GHG emissions for its direct operations by 2030. The company has taken steps to reduce emissions, including investing in renewable energy and implementing waste diversion initiatives. By disclosing its climate-related information and following TCFD recommendations, Disney demonstrates its commitment to transparency and accountability in addressing its environmental impacts.