Netflix Inc.

"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 …"

Current Score (vs. LY)

56.8 pts (13.8)

Last Update: Dec. 12, 2023

Current Rankings

Global: #48

S&P100: #31

Communication Services: #8

50.0%

Transparency

Quality of climate reporting based on public disclosures, completeness and verification of GHG emissions

85.8%

Commitments

Level of ambition through gross absolute emissions reduction and 'net zero' targets

25.0%

Results

Results and actions to deliver on commitments for real

Greenhouse Gas Emissions

Last 3 Years Emissions Data Summary

Y2021Y2020Y2019
Scope 1 62,81530,88351,487
Scope 2 - location-based 42,29128,58526,594
Scope 2 - market-based 0141565
Scope 1-2 - location-based 105,10659,46878,081
Scope 1-2 - market-based NA 31,024 52,052
Scope 3 1,466,4971,020,5411,192,659
Total - location-based 1,571,6031,080,0091,270,740
Total - market-based NA 1,051,565 1,244,711

Note: Data sources detailed here

Y2022 Y2021
Total CO2e estimate (by Net0Tracker) 453,7603,260,883
Methodology Pre-calculated sector intensity (revenue)Pre-calculated sector intensity (revenue)

Carbon emissions are estimated according to comparable years, intensity and sector benchmarks

Performance vs. Target

Note: Targets without baseline are ignored. In case several targets exist, only the shorter-term target is displayed.


Value Chain (scope 3) Emissions by Category

Emissions Trajectory (Full Scopes)



Please refer to the library for viewing the supporting documentation

Despite our best efforts to report accurate data based on publicly-available information, some data may be wrong, inaccurate or outdated. If it is the case, please reach out and report the issues. Email

Sector Benchmark

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 Materials.

Netflix Inc. belongs to the sector Communication Services.

Despite our best efforts to report accurate data based on publicly-available information, some data may be wrong, inaccurate or outdated. If it is the case, please reach out and report the issues. Email

Reduction and Net Zero Targets

>Note: intensity targets are not represented in the current version - see Methodology

Gross Absolute Emission Reductions

Scope Reduction Objectives Base Year Target Year Comments
S1S2MKT 46.2 2019 2030

Net Absolute Emission Reductions

There is no absolute emission reduction recorded in our database. Email us to report missing information Email


Net Zero Future Commitments

There is no net zero target recorded in our database. Email us to report missing information Email


Net Zero Policy

The company has a net zero policy : every year, carbon emissions will be balanced with carbon offsets, on scope emissions.


Science-based Targets (SBTI)

Date Published / Updated :01/03/2023

Near-term Long-Term Net Zero Standard
Targets Set : 1.5°C by 2030 No target Yes
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.

Data source: SBTI

Despite our best efforts to report accurate data based on publicly-available information, some data may be wrong, inaccurate or outdated. If it is the case, please reach out and report the issues. Email

Offsets

Last update for Netflix by zerotracker.net: Sept. 4, 2024
Planning to use external offset credits Yes
Separate targets for emission reductions and removals Yes
Conditions on use of offset credits
  • Other conditions
  • Avoid biodiversity harm
  • Avoid social harm
  • Must be high environmental integrity
Plans for carbon dioxide removal (CDR) No

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."

Data source from zerotracker.net - For more information, see methodology

Score Summary

Ref Principle Score
(points) 		Max
(points) 		Delta
(points)
1 At least 2 years of GHG emissions for scope 1 and 2 are publicly-available and externally-verified 10.0 10.0 0.0
2 Scope 3 emissions are fully reported and externally-verified 5.0 10.0 0.0
3 CDP score demonstrates the level of transparent disclosures 0.0 10.0 0.0
Transparency 15.0 30.0 0.0
4 Net Zero Commitments by 2050 include an intermediate target and cover all the emissions 10.0 10.0 7.0
5 Net Zero targets demonstrate a high-level of emergency 9.333333333333334 10.0 9.3
6 Emission reduction targets on a forward-looking basis are ambitious 5.0 10.0 0.0
7 Targets are science-based as validated by SBTi 10.0 10.0 0.0
Commitments 34.333333333333336 40.0 16.3
8 Results re. operational emissions reduction: on-pace (performance-to-date) and momentum (forward-looking targets) 0.0 10.0 0.0
9 Results re. value chain emissions reduction: on-pace (performance-to-date) and momentum (forward-looking targets) 0.0 10.0 0.0
10 Implied Temperature Rating by MSCi 7.5 10.0 -2.5
Results 7.5 30.0 -2.5
Total 56.8 100.0 13.8


Despite our best efforts to report accurate data based on publicly-available information, some data may be wrong, inaccurate or outdated. If it is the case, please reach out and report the issues. Email


Score Details

Criteria Results 2023 Score 2022 Score Vs. 2022 2021 Score
Criteria 1 : Transparency on operational emissions (Scope 1 + 2)
Are S1+S2 figures publicly-disclosed for the last reporting year and the preceding period? yes 5.0 / 5.0 5.0 0.0 5.0
Are S1+S2 figures verified by a 3rd-party for the last reporting year? yes 5.0/ 5.0 5.0 0.0 5.0
Criteria 2 : Transparency on value chain emissions (Scope 3)
Are the 15 categories fully or partly disclosed? partly 2.5 / 5.0 2.5 0.0 2.5
Are S3 figures fully or partly verified by a 3rd-party for the last reporting year? partly 2.5 / 5.0 2.5 0.0 2.5
Criteria 3 : Quality and Frequency of reporting
What is the latest CDP score (no later than the preceding year)? F 0.0 / 10.0 0.0 0.0 0.0
How many interim reporting were provided between 2 reporting periods (GHG emissions only)?
Criteria 4 : Net Zero Commitments
Does the net 0 target include a statement of a generally-accepted net zero emission target by 2050? yes 3.0 / 3.0 0.0 3.0 0.0
Does the net zero target include an intermediate target by 2030? 2030 3.0 / 3.0 3.0 0.0 3.0
Does the net zero target include all the emissions? yes 4.0 / 4.0 0.0 4.0 0.0
Criteria 5 : Target year for Net Zero Commitments
Target year for achieving net zero emissions for S1+S2? 2022 4.7 / 5.0 0.0 4.7 0.0
Target year for achieving net zero emissions for S1+S2+S3 combined? 2022 4.7 / 5.0 0.0 4.7 0.0
Criteria 6 : Reduction objectives
What is the forward-looking GHG% reduction (without compensation) for scope 1+2? 6.2
5.0 / 5.0 5.0 0.0 1.0
What is the forward-looking GHG% reduction (without compensation) for scope 1+2+3?
No target found
 0.0 / 5.0 0.0 0.0 0.0
Criteria 7 : Science-Based Targets
What type of science-based target (as validated by SBTi) did the company commit to? Targets Set 1.5°C 10.0 / 10.0 10.0 0.0 10.0
Criteria 8 : Results based on scope 1 - 2
Performance to date: cumulative% reduction vs. target Objective (in %): 8.4
Actual (in %): -20.7
0.0 / 5.0 0.0 0.0 5.0
Momentum: last year % reduction vs. forward-looking target Objective (in %): 6.2
Actual (in %): -102.5
0.0 / 5.0 0.0 0.0 5.0
Criteria 9 : Results based on scope 1 - 2 - 3
Performance to date: cumulative% reduction vs. target Objective (in %):
Actual (in %):
No target found
 0.0 / 5.0 0.0 0.0 0.0
Momentum: last year % reduction vs. forward-looking target Objective (in %):
Actual (in %):
No target found
 0.0 / 5.0 0.0 0.0 0.0
Criteria 10 : Implied Temperature Rise (ITR)
Is the company aligned with global climate targets? ITR: 1.8°C 7.5 / 10.0 10.0 -2.5 7.5
Total 56.8 / 100.0 43.0 13.8 46.5


Available Data Sources

Reporting Year 2021 2021 2020 2020 2019 2019
Source Public Yourstake Public Public Public Public
Publication Year 2022 2023 2022 2021 2022 2021
Scope 1 62,815 62,815 30,883 30,883 51,487 51,487
Scope 2 - location-based 42,291 42,291 28,585 28,585 26,594 26,594
Scope 2 - market-based 0 0 141 141 565 565
Scope 1-2 - location-based 105,106 105,106 59,468 59,468 78,081 78,081
Scope 1-2 - market-based NA NA 31,024 31,024 52,052 52,052
Scope 3 1,466,497 1,466,497 1,020,541 0 1,192,659 0
Total - location-based 1,571,603 1,571,603 1,080,009 59,468 1,270,740 78,081
Total - market-based NA NA 1,051,565 31,024 1,244,711 52,052

Sources

Please refer to the library for viewing the supporting documentation

Despite our best efforts to report accurate data based on publicly-available information, some data may be wrong, inaccurate or outdated. If it is the case, please reach out and report the issues. Email

© Vincent Manier - September 2021 About us . Keep in touch . Blog