Letter from Jeff Bewkes
At Time Warner, we are passionate about telling the world's most compelling stories to diverse audiences around the globe.
Time Warner has a long and proud tradition of innovation, dating back to the early days of motion pictures and encompassing, among many other milestones, the first talking feature film, the invention of premium television services, and the first 24-hour news channel. We continue to innovate across our company today, redefining what it is to be a leading media and entertainment company in the digital age. And the movies, television programs, and journalism we create are second to none.
Our basic beliefs in journalistic integrity, freedom of expression, diversity of viewpoints and responsible content are at the heart of what we do. By aligning our businesses with these beliefs, we're able to drive the growth of our businesses in a responsible and ethical manner, strengthen our reputation, and help create a better connected and well-informed world.
In 2006, Time Warner became the first major U.S.-based media and entertainment company to issue a comprehensive corporate social responsibility report. We are continuing our reporting on corporate responsibility at Time Warner in this website and, as you read it, I hope you will see how corporate responsibility is connected to what we do as a company.
I am proud of what our company has accomplished. Time Warner continues to excel operationally and financially and at the same time has been able to focus on supporting and improving the communities in which our employees work and live.
Corporate Responsibility Reporting at Time Warner
Below is information regarding our corporate responsibility reporting, the scope of our reporting, how we use the Global Reporting Initiative's guidelines, and how to contact us regarding corporate responsibility.
In 2006, Time Warner became the first major U.S.-based media and entertainment company to issue a comprehensive corporate social responsibility (CSR) report. We published a second report in 2008. We decided not to publish a report in 2010, given the significant changes to the company following the spin-offs of AOL Inc. and Time Warner Cable Inc. in 2009. This decision enabled us to align our citizenship activities as a content-focused company before publishing another corporate responsibility report.
Shift to Online Reporting
Providing easily accessible corporate responsibility information to our stakeholders is important to us. For this reason, in 2012, we transitioned our CSR reporting from a traditional PDF and printed report to a web-based format. Online reporting creates a more dynamic and relevant platform for discussing Time Warner citizenship efforts and benefits our stakeholders in the following ways:
- offers greater flexibility for finding and using specific types of corporate responsibility information;
- provides better integration with other online information about Time Warner; and
- enables us to make more frequent updates.
Online reporting is also consistent with the spirit of the web-based delivery of our report as it helps us reduce our greenhouse gas emissions and consumption of natural resources since we will no longer distribute a printed report.
Materiality and Scope
On the corporate responsibility section of our website, we discuss topics that are material to our businesses. For the purposes of the corporate responsibility section of our website, we define materiality according to the Global Reporting Initiative's G3 guidelines: "The information in a report should cover topics and indicators that reflect the organization's significant economic, environmental, and social impacts or that would substantively influence the assessments and decisions of stakeholders."
Accordingly, we emphasize the Telling the World's Stories section because our content is most material to our businesses. In addition, we focus on the key issue of diversity in several areas of the corporate responsibility section of our website because it has significant impacts on the company's marketplace, workplace and workforce.
In terms of scope, we included information about our three divisions—Turner Broadcasting System, Inc., Home Box Office, Inc., and Warner Bros. Entertainment Inc.—as well as information about Time Warner Inc. in the corporate responsibility section of our website. Most of this information pertains to 2010 and 2011, but we have also included updates to initiatives that began before 2010. We have also included a range of sustainability topics that should help our stakeholders assess our performance in the area of corporate responsibility.
The Global Reporting Initiative's G3 guidelines helped us determine the content and organization for the corporate responsibility section of our website.
Ceres, a non-profit advocate for sustainability leadership that brings together companies, investors, and public advocacy groups, and its stakeholders helped us identify the following topics, which we address throughout the corporate responsibility section of our website. In 2012, stakeholder recommendations included focusing on the following:
- Vision: Articulate a clear sustainability vision that demonstrates the ways corporate responsibility is embedded in the company's overall business strategy. See more in the letter from Time Warner's Chairman and CEO.
- Companywide Strategies: Provide more disclosure on companywide strategies regarding climate change, ethical sourcing and diversity. See more on Making our Business Greener, Ethical Sourcing and Supply Chain and Supporting Our Workforce.
- Goals, Targets and Performance Metrics: Enhance reporting with increased quantitative disclosure regarding goals and targets. See more on Corporate Responsibility at Time Warner and Making our Business Greener.
- Balanced Content: Provide additional disclosure about challenges, particularly with regard to complex issues such as employee engagement, diversity and environmental and supply chain management. See more on Supporting our Workforce, Making our Business Greener and Ethical Sourcing and Supply Chain.
- Accountability: Provide information on the oversight from the CEO and Nominating and Governance Committee of the Board of Directors on sustainability issues and accountability mechanisms for measuring progress on sustainability goals. Examples can be found throughout the corporate responsibility section of this website.
Separation of Time Inc.
On June 6, 2014, we completed the legal and structural separation of Time Inc. from Time Warner. Specific information regarding Time Inc. has been removed from the corporate responsibility section of this website. Aggregate Company data for periods prior to June 6, 2014 include information regarding Time Inc. through June 6, 2014.
Invitation to Comment
We welcome comments on our corporate responsibility activities, results and reporting. Please email comments to Corporate.Responsibility@timewarner.com.
Time Warner has been reporting comprehensively on corporate social responsibility longer than any major media company based in the U.S. Partnering with an increasingly diverse community of stakeholders has informed and guided many our systems, policies and controls in place throughout the company.
Time Warner creates and distributes content that informs, entertains and inspires people of all ages around the world. It is in this endeavor that we have a significant impact on society and are guided by a core set of values: journalistic integrity, freedom of expression, diversity of viewpoints and responsible content.
Time Warner is committed to conducting business in an environmentally responsible manner and to reducing its environmental footprint. We focus our environmental stewardship efforts in four areas: energy and greenhouse gas reduction; green feature film and television production; waste reduction and recycling; and green building.
At Time Warner our employees are our greatest asset and vital to the long-term success of our company. Time Warner is committed to creating an environment where our employees feel valued and welcome. We know that world-class content is created by world-class talent and we aim to support our employees so that they can live productive, balanced and healthy lives.
Through our philanthropic initiatives and employee engagement programs, we are cultivating the future leaders of our company and the communities in which we do business. Time Warner's support of the arts and education and innovative employee programs have enabled to the company to make a real impact in the community unique to a global media company.