Log in
Show password
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Dynamic quotes 
  1. Homepage
  2. Equities
  3. United Kingdom
  4. London Stock Exchange
  5. ITV plc
  6. News
  7. Summary
    ITV   GB0033986497


SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

ITV : outlines range of measures to deliver climate action commitments

10/25/2021 | 04:14am EST

ITV outlines range of measures to deliver climate action commitments

ITV has today outlined a range of measures to deliver on its climate action commitments including:

  • Incorporating delivery of climate action targets into senior leader bonus payments
  • Linking delivery on ITV's emission reduction targets to future debt financings
  • Ensuring all programmes produced and commissioned by ITV from 2021 onwards will go through sustainable certification
  • Ensuring all ITV colleagues complete climate crisis training by the end of 2021
  • Achieving a 100% sustainable supply chain by 2030
  • Using ITV's reach to support behavioural change among viewers
  • Phasing out petrol and diesel cars in ITV's fleet and in on-air competitions

ITV's climate action targets

As signatories to the Taskforce on Climate related Financial Disclosures (TCFD) ITV already embeds climate risk and opportunities into its global governance, risk management and strategy. These announcements today further strengthen ITV's commitment to integrating sustainability into all areas of the business.

ITV announced ambitious 2030 climate action targets in August last year, including the commitment to become Net Zero. The targets cover the environmental impact of the areas most material to the business - global carbon emissions, waste, supply chain, and culture.

ITV has already committed to the following, all by or before 2030:

  • reducing scope 1 and 2 carbon emissions by 46.2% in line with a 1.5 degree science based emissions scenario,
  • scope 3 emissions by 28%, in line with a well below 2 degree emissions scenario
  • 100% renewable energy
  • becoming a zero waste and zero single use plastic business, and
  • running a 100% sustainable supply chain.

Zero waste is defined as 90% of all UK waste reused and recycled by 2030. ITV has committed to an interim target of 75% reused and recycled by 2025, and eliminating single use plastic by 2025.

Actions to achieve ITV's climate action targets

In 2022 ITV will introduce climate action targets into the bonus scheme, building on the success of integrating Diversity and Inclusion targets into managers' and leaders' bonuses, which has seen ITV increase workforce diversity since their introduction. Climate action targets will be introduced for its most senior employees and will be adopted in line with ITV's remuneration policy.

ITV has agreed to commit to the delivery of carbon emissions reductions targets as a requirement of future bank and debt capital market financings. ITV is working with its banking group to reflect appropriate targets in the relevant documentation.

Furthermore, ITV has committed that all programmes produced and commissioned by ITV from 2021 onwards will go through sustainable certification through BAFTA's albert carbon calculator, and all ITV colleagues will complete climate crisis training by the end of 2021.

As part of ITV's ambition towards running a 100% sustainable supply chain, 100% of its suppliers with the highest environmental risk will be required to meet ITV's best practice sustainability criteria by 2025 - or will no longer be used by ITV - and by 2030 ITV will work with all other suppliers to reduce their environmental impact. Since ITV started this strategy, ITV has managed to increase the number of suppliers with credible climate action plans - halving the number of high risk suppliers without a robust plan.

In the run-up to COP26 this November, as the most watched commercial broadcaster in the UK, ITV will use its significant reach to put environment issues centre stage. Across a range of new factual commissions, live daytime shows, current affairs programmes, news bulletins and digital platforms, green issues and climate change will be covered and explored - from news coverage across platforms on the big issues facing the conference of parties, to the swaps individuals and households can make to have a powerful impact on the planet.

This programming will air alongside a new behaviour change campaign, shown in ITV's promotional airtime, which uses some of ITV's best-loved shows to make the point that a little change can have a big impact.

Recognising its role in shaping culture, ITV has committed that competitions featuring car giveaways will only feature electric or hybrid cars from spring 2022, with an ambition that all competition cars are fully electric by the end of 2023 if supply permits.

ITV is also reviewing all opportunities to switch out petrol or diesel vehicles with the aim of achieving a 100% hybrid or electric fleet. Trials of pure electric vehicles have been conducted throughout 2021. ITV Studios have been using plug-in hybrid electric vehicles for over 6 years, so the transition to full electric is a natural progression. Combined with ITV's commitment to being powered by 100% renewable energy by 2025, this will support near zero emissions driving as part of ITV's plans to make the biggest shows with the smallest footprint.

Carolyn McCall, ITV plc CEO, commented on the announcement:

"Our Social Purpose ambition of shaping culture for good is integral to our overall strategy, informing both what audiences see on-screen and what happens behind the scenes. In the area of Climate Action, we're making good progress on our ambitious goals, including being Net Zero by 2030.

"This new raft of measures shows how, at each touchpoint, ITV is working on how we can contribute to building a sustainable society, from how we incentivise senior leadership and set the terms of our debt financing, to the cars we give away in competitions."


Notes to Editors:

Future bank and debt capital market financings will be linked to ITV's carbon emissions reduction targets, which are to reduce scope 1 and scope 2 emissions by 46.2% (in line with a 1.5 degree science based emissions scenario) and scope 3 emissions by 28% (in line with a well below 2 degree emissions scenario) by or before 2030.

These future bank and debt capital market financings including ITV's Revolving Credit Facility (RCF), which we are currently out to tender for. ITV's progress against annual targets tracking to its 2030 emissions reduction targets will be measured and independently certified to the banking group annually, as part of the new RCF agreement.

About ITV Social Purpose:

ITV is More Than TV. We connect with millions of people every day, make content they can't get enough of, and reflect and shape the world we live in and we do all of this through the power of creativity.

Reflecting and shaping the world we live in gives us a great opportunity: to change ITV for the better, and to use our content to reach and inspire positive change in the wider world. This is ITV's Social Purpose - shaping culture for good. We do this across four focus areas: Better Mental and Physical Health, Diversity & Inclusion, Climate Action and Giving Back.

Each of these has clear targets that are reported on annually. Since ITV launched its Social Purpose agenda in 2019, its landmark mental health campaign Britain Get Talking has encouraged the UK public to take over 56 million positive actions , and in 2020 1.3 million people considered their carbon footprint as a result of the 'Shows We Never Want to Make' climate campaign.

ITV was recently named as 2nd in the FTSE100 Responsibility Index by Tortoise, a ranking of the FTSE100 companies on their commitment to key social, environmental and ethical objectives, inspired by the UN Sustainable Development Goals.

For more information, please visit itvplc.com/socialpurpose


ITV plc published this content on 25 October 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 25 October 2021 08:13:01 UTC.

ę Publicnow 2021
All news about ITV PLC
01/18UK bans ad showing girl eating cheese while hanging upside down
01/17ITV Lands New $684 Million Sustainability-linked Revolver
01/15ITV : Bagpipes is unmasked as Pat Cash on tonight's The Masked Singer
01/14ITV : Week 03 Highlights 2022
01/13ITV : Trigger Point
01/11'Bring your own booze' lockdown party heaps pressure on UK PM Johnson
01/11ITV : Adrian Dunbar detective series Ridley starts filming in Lancashire
01/11ITV : Arjan Pomper named Managing Director, Global Entertainment, ITV Studios
01/10ITV : Dancing on Ice
More news
Analyst Recommendations on ITV PLC
More recommendations
Sales 2021 3 371 M 4 593 M 4 593 M
Net income 2021 399 M 544 M 544 M
Net Debt 2021 414 M 564 M 564 M
P/E ratio 2021 11,7x
Yield 2021 3,15%
Capitalization 4 740 M 6 461 M 6 460 M
EV / Sales 2021 1,53x
EV / Sales 2022 1,41x
Nbr of Employees 6 273
Free-Float 89,3%
Duration : Period :
ITV plc Technical Analysis Chart | ITV | GB0033986497 | MarketScreener
Technical analysis trends ITV PLC
Short TermMid-TermLong Term
Income Statement Evolution
Mean consensus OUTPERFORM
Number of Analysts 15
Last Close Price 118,40 GBX
Average target price 148,80 GBX
Spread / Average Target 25,7%
EPS Revisions
Managers and Directors
Carolyn Julia McCall Chief Executive Officer & Executive Director
Christopher John Kennedy COO, Chief Financial Officer & Executive Director
Peter Lytton Bazalgette Executive Chairman
Mark Norman Smith Chief Technology Officer
Mary Elaine Harris Senior Independent Director
Sector and Competitors
1st jan.Capi. (M$)
ITV PLC7.10%6 461
VIACOMCBS INC.16.20%22 964