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illuminem summarizes for you the essential news of the day. Read the full piece on Financial Post or enjoy below:
🗞️ Driving the news: Netflix aims to cut its carbon emissions by half by 2030, using green technologies like batteries, solar power, and hydrogen on its production sets
• While shows like *Virgin River* and Bridgerton test these technologies, Netflix's overall emissions have increased since 2019, and the company struggles to balance sustainability with its rapid growth
• The challenges reflect broader industry-wide difficulties in achieving climate goals
🔭 The context: Since Netflix began its sustainability work in 2020, the company has grappled with reducing its carbon footprint, especially from film and TV production, which accounts for over half its emissions
• While Netflix has invested in renewable energy and clean tech, it often relies on tools like renewable energy credits (RECs), which have been criticized for limited impact
🌍 Why it matters for the planet: As a global leader in entertainment, Netflix's efforts to decarbonize productions could drive industry-wide change and promote more sustainable practices
• However, without greater strides in emissions reduction, such as improving the supply chain for green tech, the impact may remain limited
⏭️ What's next: Netflix will continue its investments in green tech, while also considering alternatives like direct renewable energy purchases and further developing the Clean Mobile Power Initiative to boost innovation in sustainable production equipment
💬 One quote: "We’re definitely not there yet." — Emma Stewart, Netflix’s Chief Sustainability Officer.
📈 One stat: Electric or hybrid vehicles and clean mobile power made up just 5% of Netflix’s avoided emissions in 2022
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