2025
Sustainability
&
Social
Impact
Report
Disneyland
®
Resort
celebrated
its
70th
anniversary
in
2025
Forward-Looking
Statements
Certain
statements
and
information
in
this
communication
may
constitute
“forward-looking
statements”
within
the
meaning
of
the
Private
Securities
Litigation
Reform
Act
of
1995,
including
statements
regarding
our
plans;
beliefs;
expectations;
continuation
or
future
execution
of
initiatives,
programs,
activities,
policies,
or
disclosures;
strategies;
goals;
objectives;
intentions;
commitments;
pledges;
priorities;
targets;
and
other
statements
that
are
not
historical
in
nature.
Any
information
that
is
not
historical
in
nature
included
in
this
report
is
subject
to
change.
These
statements
are
made
on
the
basis
of
managementʼs
views
and
assumptions
regarding
future
events
and
business
performance,
as
of
the
time
the
statements
are
made.
Management
does
not
undertake
any
obligation
to
update
these
statements
unless
required
by
applicable
laws
or
regulations.
Actual
results
may
differ
materially
from
those
expressed
or
implied.
Such
differences
may
result
from
actions
taken
by
the
company—including
restructuring
or
strategic
initiatives
(including
capital
investments,
asset
acquisitions
or
dispositions,
new
or
expanded
business
lines,
or
cessation
of
certain
operations),
our
execution
of
our
business
plans
(including
the
content
we
create
and
intellectual
property
we
invest
in,
our
pricing
decisions,
our
cost
structure,
and
our
management
and
other
personnel
decisions),
our
ability
to
quickly
execute
on
cost
rationalization
while
preserving
revenue,
and
the
discovery
of
additional
information
or
other
business
decisions—as
well
as
from
developments
beyond
the
companyʼs
control,
including:
•
the
occurrence
of
subsequent
events;
•
deterioration
in
domestic
and
global
economic
conditions
or
failure
of
conditions
to
improve
as
anticipated;
•
deterioration
in
or
pressures
from
competitive
conditions,
including
competition
to
create
or
acquire
content,
competition
for
talent,
and
competition
for
advertising
revenue;
•
consumer
preferences
for
and
acceptance
of
our
content
offerings
and
the
distribution
channel
(including
pricing
and
bundling
of
our
streaming
services
and
impact
on
churn
and
subscriber
additions)
and
our
travel
destinations
•
the
market
for
advertising
sales
on
our
streaming
services
and
linear
networks;
•
health
concerns
and
their
impact
on
our
businesses
and
productions;
•
global
economy-wide
transitions
and
availability
of
economically
feasible
solutions;
•
international,
including
tariffs
and
other
trade
policies,
political
or
military
developments;
•
regulatory
and
legal
developments;
•
technological
developments;
•
labor
markets
and
activities,
including
work
stoppages;
•
adverse
weather
conditions
or
natural
disasters
and
environmental
developments;
and
•
availability
of
content.
Such
developments
may
further
affect
entertainment,
travel,
and
leisure
businesses
generally
and
may,
among
other
things,
affect
(or
further
affect,
as
applicable):
•
our
operations,
business
plans,
or
profitability;
•
demand
for
our
products
and
services;
•
the
performance
of
the
companyʼs
content;
•
our
ability
to
create
or
obtain
desirable
content
at
or
under
the
value
we
assign
the
content;
•
the
advertising
market
for
programming;
•
construction;
•
taxation;
•
expenses
of
providing
medical
and
post-
retirement
benefits;
and
•
performance
of
some
or
all
company
businesses
either
directly
or
through
their
impact
on
those
that
distribute
our
products.
•
Additional
factors
are
set
forth
in
the
companyʼs
most
recent
Annual
Report
on
Form
10-K,
including
under
the
captions
“Risk
Factors,”
“Managementʼs
Discussion
and
Analysis
of
Financial
Condition
and
Results
of
Operations,”
and
“Business”;
subsequent
quarterly
reports
on
Form
10-Q,
including
under
the
captions
“Risk
Factors”
and
“Managementʼs
Discussion
and
Analysis
of
Financial
Condition
and
Results
of
Operations”;
and
subsequent
filings
with
the
Securities
and
Exchange
Commission.
Table
of
Contents
Introduction
&
Our
Approach
4
CEO
LETTER,
HIGHLIGHTS
&
AWARDS
5
OUR
BUSINESSES
6
STRATEGY
&
DISCLOSURE
PRIORITIES
7
OVERSIGHT
&
ACCOUNTABILITY
7
STAKEHOLDER
ENGAGEMENT
&
PARTICIPATION
7
Operating
Responsibly
8
CORPORATE
GOVERNANCE
9
ETHICS
9
RISK
OVERSIGHT
9
TAX
STRATEGY
10
HUMAN
RIGHTS
10
SUPPLY
CHAIN
10
PRODUCT
SAFETY
11
GUEST
SAFETY
12
INFORMATION
SECURITY
13
PRIVACY
13
RESPONSIBLE
AI
USE
13
JOURNALISTIC
INTEGRITY
14
DIGITAL
WELLNESS
14
RESPONSIBLE
ADVERTISING
&
MARKETING
15
People
16
COMPREHENSIVE
TOTAL
REWARDS
17
EMPLOYEE
MENTAL
HEALTH
&
WELL-BEING
18
WORKPLACE
SAFETY
18
EMPLOYEE
ENGAGEMENT
&
INCLUSION
19
TALENT DEVELOPMENT & CONNECTION
21
Environmental
Sustainability
23
EMISSIONS
24
WATER
26
WASTE
27
MATERIALS
28
SUSTAINABLE
DESIGN
29
NATURE
&
BIODIVERSITY
30
Data
&
Frameworks
32
FISCAL
2025
DATA
TABLE
33
SASB
INDEX
41
TCFD
INDEX
44
SDG
INDICATORS
48
This
report
contains
links
to
websites
that
are
not
operated
by
the
company.
Each
website
ownerʼs
Terms
of
Use
and
Privacy
Policy
will
apply.
Unless
otherwise
specified,
data
and
information
in
this
report
pertain
to
efforts
in
fiscal
2025,
which
began
on
September
29,
2024,
and
ended
on
September
27,
2025.
For
the
most
part,
data
and
information
reflect
business
operations
as
of
the
end
of
the
fiscal
year.
The
terms
“company,”
“we,”
“Disney,”
"us,"
and
“our”
are
used
to
refer
collectively
to
the
parent
company
and
the
subsidiaries
through
which
our
various
businesses
are
actually
conducted.
Table
of
Contents
Introduction
&
Our
Approach
Introduction
&
Our
Approach
OVERVIEW
Our
mission
is
to
entertain,
inform,
and
inspire
people
around
the
globe
through
the
power
of
unparalleled
storytelling—reflecting
the
iconic
brands,
creative
minds,
and
innovative
technologies
that
make
ours
the
worldʼs
premier
entertainment
company.
Since
our
founding
more
than
100
years
ago,
we
have
executed
this
mission
with
integrity
and
a
deep
commitment
to
responsibly
operate
our
businesses;
invest
in
our
people
ʼs
development,
employee
experience,
and
well-being;
foster
an
inclusive
workplace;
undertake
meaningful
and
measurable
environmental
sustainability
efforts;
and
strive
to
have
a
positive
impact
in
the
communities
in
which
we
operate.
This
report
describes
select
policies,
practices,
and
programs
that
embody
these
commitments.
Learn
more:
Corporate
Governance
Oversight
&
Accountability
Stakeholder
Engagement
&
Participation
CEO
Letter,
Highlights
&
Awards
Our
Businesses
Strategy
&
Disclosure
Priorities
Oversight
&
Accountability
Stakeholder
Engagement
Operating
Responsibly
People
Environmental
Sustainability
Data
&
Frameworks
4
Table
of
Contents
Introduction
&
Our
Approach
Introduction
&
Our
Approach
OVERVIEW
Our
mission
is
to
entertain,
inform,
and
inspire
people
around
the
globe
through
the
power
of
unparalleled
storytelling—reflecting
the
iconic
brands,
creative
minds,
and
innovative
technologies
that
make
ours
the
worldʼs
premier
entertainment
company.
Since
our
founding
more
than
100
years
ago,
we
have
executed
this
mission
with
integrity
and
a
deep
commitment
to
responsibly
operate
our
businesses;
invest
in
our
people
ʼs
development,
employee
experience,
and
well-being;
foster
an
inclusive
workplace;
undertake
meaningful
and
measurable
environmental
sustainability
efforts;
and
strive
to
have
a
positive
impact
in
the
communities
in
which
we
operate.
This
report
describes
select
policies,
practices,
and
programs
that
embody
these
commitments.
Learn
more:
Corporate
Governance
Oversight
&
Accountability
Stakeholder
Engagement
&
Participation
Table
of
Contents
Introduction
&
Our
Approach
CEO
Letter,
Highlights
&
Awards
Our
Businesses
Strategy
&
Disclosure
Priorities
Oversight
&
Accountability
Stakeholder
Engagement
Operating
Responsibly
People
Environmental
Sustainability
Data
&
Frameworks
LETTER
FROM
OUR
CEO
For
more
than
a
century,
The
Walt
Disney
Company
has
been
guided
by
the
belief
that
the
stories
we
tell,
the
experiences
we
create,
and
the
way
we
conduct
our
businesses
in
the
world
all
reflect
who
we
are
and
what
we
stand
for.
At
Disney,
conducting
our
businesses
with
clarity
of
purpose
and
a
deep
sense
of
integrity
is
fundamental
to
who
we
are.
Responsible
operations,
environmental
stewardship,
and
strong
community
relationships
build
the
trust
that
audiences,
guests,
and
consumers
place
in
our
brands.
And
that
trust
is
what
allows
us
to
bring
people
together
across
cultures,
generations,
and
borders
in
ways
no
other
company
can.
The
work
highlighted
in
this
report
reflects
our
long-standing
commitment
to
operate
responsibly,
support
the
communities
where
we
live
and
work,
and
care
for
the
natural
environments
that
inspire
so
many
of
our
stories.
It
is
work
I
am
proud
to
carry
forward
—and
work
that
will
continue
to
evolve
as
we
learn,
grow,
and
find
new
ways
to
make
a
positive
difference
in
the
world.
None
of
this
happens
without
the
extraordinary
dedication
of
our
employees
and
Cast
Members
around
the
world.
Their
efforts,
day
in
and
day
out,
are
what
turn
our
values
into
action.
Sincerely,
Josh
DʼAmaro
Chief
Executive
Officer
The
Walt
Disney
Company
HIGHLIGHTS
FROM
THE
YEAR
Operating
Responsibly
Piloted
an
initiative
to
improve
cotton
supply
chains
Worked
with
the
Yarn
Ethically
&
Sustainably
Sourced
(YESS)
initiative,
supporting
due
diligence
designed
to
identify
and
reduce
forced
labor
risk
in
apparel
supply
chains
(p.
10
)
Added
accessible
options
at
Hong
Kong
Disneyland
Resort
Options
consisted
of
attraction
vehicle
models
to
help
guests
with
visual
impairments
explore
vehicles
by
touch
before
boarding
(p.
12
)
Launched
Disney
Jr.
Let’s
Play!
campaign
Campaign
is
global
and
multiplatform
and
encourages
preschoolers
to
experience
the
joy
of
play
(p.
14
)
ESPN
introduced
new
PSAs
Public
service
announcements
(PSAs)
connect
fans
to
resources
on
responsible
sports
betting
and
gaming
practices
(p.
15
)
Learn
more
People
99%+
adjusted
pay
ratios
Analysis
compares
U.S.
employee
pay
and
incentives
based
on
gender,
race,
and
ethnicity
(p.
17
)
9
in
10
employees
are
proud
to
work
at
Disney
Survey
results
indicate
strong
employee
engagement
at
Disney
(p.
19
)
Committed
$15
million
to
support
employees
and
communities
impacted
by
the
Southern
California
wildfires
Provided
support
through
targeted
relief,
housing
assistance,
and
recovery
and
rebuilding
efforts
(p.
20
)
7,500
leaders
participated
in
coaching
in
fiscal
2025
Leaders
received
personalized
support
to
inspire
teams
and
drive
innovation
(p.
22
)
Learn
more
Environmental
Sustainability
36%
progress
toward
reducing
absolute
Scope
1
and
2
emissions,
in
support
of
our
2030
target
(p.
24
)
48%
zero-carbon
electricity
Purchased
or
produced
in
our
own
operations
(p.
34
)
60%
of
total
operational
waste
diverted
From
landfill
and
incineration
toward
our
zero
waste-to-landfill
goal
†
(p.
27
)
Disney
Cruise
Line
eliminated
93%
of
single-use
plastics
Onboard
its
ships
and
at
its
island
destinations
(p.
27
)
Opened
the
Island
Tower
at
Polynesian
Villas
&
Bungalows
at
Walt
Disney
World
®
Resort
Design
and
construction
blends
Disney
storytelling
with
sustainable
design
(p.
29
)
Learn
more
Awards
and
Recognition
Dow
Jones
Best-in-Class
North
American
Index
FTSE4Good
Index
Best
for
Vets
Employers,
#62
2025
Military
Times
Best
Employers:
Excellence
in
Health
&
Well-Being
(Global
&
Mental
Health)
Business
Group
on
Health
32
Gold
and
17
Green
Seal
Awards
2025
Environmental
Media
Association
Awards
LEED
Platinum
certification
for
Core
&
Shell
and
Commercial
Interiors
awarded
to
Disney’s
New
York
City
campus
U.S.
Green
Building
Council
†
For
owned
and
operated
Disney
Parks
and
Disney
Cruise
Line.
5
Our
Businesses
OUR
BUSINESSES
The
Walt
Disney
Company,
together
with
its
subsidiaries,
is
a
leading
diversified
global
entertainment
and
media
enterprise
that
includes
three
business
segments:
Entertainment,
Sports,
and
Experiences.
Table
of
Contents
Introduction
&
Our
Approach
CEO
Letter,
Highlights
&
Awards
Strategy
&
Disclosure
Priorities
Oversight
&
Accountability
Stakeholder
Engagement
Operating
Responsibly
People
Environmental
Sustainability
Data
&
Frameworks
6
Our
Businesses
OUR
BUSINESSES
The
Walt
Disney
Company,
together
with
its
subsidiaries,
is
a
leading
diversified
global
entertainment
and
media
enterprise
that
includes
three
business
segments:
Entertainment,
Sports,
and
Experiences.
Table
of
Contents
Introduction
&
Our
Approach
CEO
Letter,
Highlights
&
Awards
Our
Businesses
Strategy
&
Disclosure
Priorities
Oversight
&
Accountability
Stakeholder
Engagement
Operating
Responsibly
People
Environmental
Sustainability
Data
&
Frameworks
STRATEGY
&
DISCLOSURE
PRIORITIES
About
This
Report
This
report
considers
and
addresses
a
large
variety
of
topics
that
relate
to
operating
our
businesses.
To
help
inform
and
evolve
our
efforts
and
disclosures
on
select
topics,
we
evaluate
existing
and
developing
third-party
reporting
frameworks.
The
Data
&
Frameworks
section
at
the
end
of
this
report
includes
disclosures
aligned
with
the
Sustainability
Accounting
Standards
Board
(SASB)
Standards
(now
part
of
the
International
Financial
Reporting
Standards
(IFRS)
Foundation);
the
Task
Force
on
Climate-
related
Financial
Disclosures
(TCFD);
and
the
United
Nations
Sustainable
Development
Goals
(SDGs).
Additionally,
we
include
icons
in
various
sections
throughout
this
report
to
indicate
where
information
supports
specific
SDGs
and
SASB
indicators.
For
more
information,
visit
the
ESG
Reporting
Center
for
topic
briefs
and
our
Impact
webpage
for
stories
on
our
sustainability
and
social
impact
work
throughout
the
year.
Inclusion
of
information
in
this
report
should
not
be
construed
as
a
characterization
of
the
materiality
or
financial
impact
of
that
information.
OVERSIGHT
&
ACCOUNTABILITY
Our
Board
of
Directors
has
delegated
oversight
of
sustainability
and
social
impact
programs
and
reporting
to
the
Governance
and
Nominating
Committee,
including
with
respect
to
environmental
and
sustainability
policies
and
initiatives
regarding
climate
change
risks
and
human
rights
policies.
This
committee
receives
an
annual
report
on
human
rights-
related
risks,
including
those
associated
with
artificial
intelligence.
The
committee
is
updated
by
executive
management
on
these
topics
at
least
annually.
At
the
executive
level,
our
Chief
Legal
&
Global
Affairs
Officer,
Chief
Communications
Officer,
and
Chief
Financial
Officer
oversee
teams
responsible
for
environmental
sustainability,
corporate
social
responsibility,
and
sustainability
reporting,
as
applicable,
and
work
in
coordination
to
advance
our
overall
sustainability
strategy.
Oversight
and
strategic
direction
related
to
certain
policies,
practices,
and
programs
discussed
in
this
report
are
illustrated
in
a
chart
on
our
website
.
Our
Chief
People
Officer
reports
to
our
CEO
and
oversees
efforts
related
to
our
global
people
and
culture
strategy,
talent
acquisition
and
development,
compensation
and
benefits,
opportunity
and
inclusion,
organizational
effectiveness,
and
employee
services
and
systems.
This
role
periodically
updates
our
Compensation
Committee
or
full
Board
of
Directors
on
these
topics
and
is
supported
by
a
variety
of
dedicated
functions
across
our
businesses
and
regions.
Reporting
to
our
Chief
People
Officer,
our
Chief
Opportunity
&
Inclusion
Officer
leads
the
companyʼs
opportunity
and
inclusion
strategy
and
partners
closely
with
leaders
and
teams
across
all
segments
to
foster
a
culture
rooted
in
belonging.
Our
Chief
Communications
Officer
leads
our
global
communications
strategy
and
operations,
including
our
Corporate
Social
Responsibility
function.
Our
Environmental
Sustainability
team
oversees
progress
toward
our
2030
environmental
goals
and
nature-related
work.
The
Environmental
Sustainability
team
reports
to
our
Global
Public
Policy
&
Privacy
function
and
ultimately
to
our
Chief
Legal
&
Global
Affairs
Officer.
Leadership
provides
updates
on
our
environmental
goals
and
other
topics
to
the
Governance
and
Nominating
Committee
at
least
annually.
Learn
more:
Oversight
&
Accountability
Chart
Corporate
Governance
Proxy
Statement
STAKEHOLDER
ENGAGEMENT
&
PARTICIPATION
We
engage
with
a
variety
of
stakeholders,
including
employees,
shareholders,
consumers,
industry
and
business
communities,
non-
governmental
organizations
(NGOs),
and
nonprofit
organizations
to
help
inform
our
practices,
policies,
and
programs.
We
believe
this
feedback
can
enhance
our
ability
to
identify
risks
and
opportunities.
We
also
engage
with
policymakers
on
the
core
policy
areas
that
will
impact
our
business,
both
directly
and
through
trade
associations.
Learn
more:
Stakeholder
Engagement
Table
7
Operating
Responsibly
Operating
Responsibly
OVERVIEW
Disneyʼs
commitment
to
operating
responsibly
reflects
our
long-standing
commitment
to
earning
and
honoring
the
trust
of
our
customers,
shareholders,
employees,
and
business
partners.
We
work
to
maintain
this
trust
by
upholding
strong
ethical
standards,
implementing
practices
designed
to
comply
with
laws
and
regulations,
and
embedding
accountability
throughout
our
business.
Our
approach
guides
how
we
manage
risk,
promote
safety,
safeguard
data,
respect
human
rights,
and
create
our
stories,
products,
and
technologies
responsibly.
Together,
these
efforts
help
us
strengthen
our
legacy
as
a
company
committed
to
integrity.
Learn
more:
Supply
Chain
Topic
Brief
Disney
Experiences:
Guest
and
Workplace
Safety
Topic
Brief
Responsible
AI
Use
Topic
Brief
Digital
Wellness
Topic
Brief
Journalistic
Integrity
Topic
Brief
Standards
of
Business
Conduct
Code
of
Business
Conduct
and
Ethics
for
Directors
Proxy
Statement
Annual
Report
on
Form
10-K
Table
of
Contents
Introduction
&
Our
Approach
Corporate
Governance
Ethics
Risk
Oversight
Tax
Strategy
Human
Rights
Supply
Chain
Product
Safety
Guest
Safety
Information
Security
Privacy
Responsible
AI
Use
Journalistic
Integrity
Digital
Wellness
Responsible
Advertising
People
Environmental
Sustainability
Data
&
Frameworks
8
Operating
Responsibly
Operating
Responsibly
OVERVIEW
Disneyʼs
commitment
to
operating
responsibly
reflects
our
long-standing
commitment
to
earning
and
honoring
the
trust
of
our
customers,
shareholders,
employees,
and
business
partners.
We
work
to
maintain
this
trust
by
upholding
strong
ethical
standards,
implementing
practices
designed
to
comply
with
laws
and
regulations,
and
embedding
accountability
throughout
our
business.
Our
approach
guides
how
we
manage
risk,
promote
safety,
safeguard
data,
respect
human
rights,
and
create
our
stories,
products,
and
technologies
responsibly.
Together,
these
efforts
help
us
strengthen
our
legacy
as
a
company
committed
to
integrity.
Learn
more:
Supply
Chain
Topic
Brief
Disney
Experiences:
Guest
and
Workplace
Safety
Topic
Brief
Responsible
AI
Use
Topic
Brief
Journalistic
Integrity
Topic
Brief
Digital
Wellness
Topic
Brief
Standards
of
Business
Conduct
Proxy
Statement
Annual
Report
on
Form
10-K
Code
of
Business
Conduct
and
Ethics
for
Directors
Table
of
Contents
Introduction
&
Our
Approach
Operating
Responsibly
Corporate
Governance
Ethics
Risk
Oversight
Tax
Strategy
Human
Rights
Supply
Chain
Product
Safety
Guest
Safety
Information
Security
Privacy
Responsible
AI
Use
Journalistic
Integrity
Digital
Wellness
Responsible
Advertising
People
Environmental
Sustainability
Data
&
Frameworks
CORPORATE
GOVERNANCE
The
companyʼs
Board
of
Directors
has
12
talented
Directors
whose
skill
sets,
relevant
experience,
and
professional
backgrounds
represent
a
range
of
perspectives
and
characteristics
that
are
particularly
relevant
to
Disneyʼs
business
and
strategic
objectives.
Our
Directors
reflect
the
companyʼs
shareholders,
employees,
customers,
guests,
and
communities.
Four
Directors
are
women,
three
Directors
are
from
underrepresented
racial/ethnic
groups,
10
of
12
Directors
are
independent,
†
and
all
members
of
the
Audit
Committee,
Compensation
Committee,
and
Governance
and
Nominating
Committee
are
independent.
Learn
more:
Oversight
&
Accountability
Corporate
Governance
Proxy
Statement
ETHICS
SV-HL-310a.4
Disney
conducts
business
in
accordance
with
high
standards
of
business
ethics
and
adopts
policies
and
practices
designed
to
comply
with
applicable
laws,
rules,
and
regulations.
We
hold
our
Board
of
Directors
accountable
to
our
Code
of
Business
Conduct
and
Ethics
for
Directors.
Our
Standards
of
Business
Conduct
apply
to
our
employees
and
include
resources
and
tools
that
help
promote
ethical
conduct
and
compliance
with
the
law.
We
regularly
engage
our
leaders
and
employees
on
these
standards
through
training
and
other
communications.
All
U.S.-based
employees
are
covered
by
our
Equal
Employment
Opportunity
Policy,
Prohibition
of
Harassment
Policy,
and
Speak
Up
Policy.
The
Speak
Up
Policy
encourages
employees
who
observe
or
suspect
misconduct
to
speak
up,
which
provides
the
company
with
the
opportunity
to
address
concerns
regarding
adherence
to
these
policies.
Employees
can
anonymously
report
ethical
concerns,
where
allowed
by
law,
to
our
internal
alert
hotline,
The
Guideline.
Employees
outside
the
U.S.
are
covered
by
policies
reflecting
these
principles
but
tailored
to
their
specific
regions.
Anti-Corruption
As
a
global
company,
we
have
a
duty
to
comply
with
applicable
anti-corruption
laws,
including
as
outlined
in
the
companyʼs
Global
Anti-Bribery
and
Anti-Corruption
Policy.
Training
on
the
Standards
of
Business
Conduct
and
Global
Anti-
Bribery
and
Anti-Corruption
Policy
is
assigned
according
to
a
risk-based
methodology
and
completed
on
a
recurring
basis
by
employees.
Whistleblower
complaints
with
allegations
of
bribery
and
corruption,
fraud,
and/or
money
laundering
are
reviewed
and
investigated
by
the
Integrity
&
Compliance
function.
Learn
more:
Standards
of
Business
Conduct
Code
of
Business
Conduct
and
Ethics
for
Directors
RISK
OVERSIGHT
To
help
minimize
the
financial
impact
of
potential
risks
and
support
business
continuity,
we
use
risk
financing
strategies,
including
self-
insurance,
contractual
risk
transfer,
commercial
insurance,
and
alternative
risk
financing
techniques.
Our
Enterprise
Risk
Management
function
provides
insights
by
working
across
the
company
with
our
business
segments
and
units
to
help
identify,
assess,
and
mitigate
operational
risks—including
those
related
to
environmental
matters—with
these
risk
financing
strategies.
Our
Board
of
Directors,
acting
directly
or
through
its
committees,
is
responsible
for
assessing
major
risk
factors
relating
to
the
company
and
its
performance
and
for
reviewing
measures
to
address
and
mitigate
such
risks.
Learn
more:
Annual
Report
on
Form
10-K
Proxy
Statement
†
Pursuant
to
the
Boardʼs
application
of
NYSE
independence
rules.
9
Table
of
Contents
Introduction
&
Our
Approach
Operating
Responsibly
Corporate
Governance
Ethics
Risk
Oversight
Tax
Strategy
Human
Rights
Supply
Chain
Product
Safety
Guest
Safety
Information
Security
Privacy
Responsible
AI
Use
Journalistic
Integrity
Digital
Wellness
Responsible
Advertising
People
Environmental
Sustainability
Data
&
Frameworks
TAX
STRATEGY
Our
global
tax
strategy
supports
our
commitment
to
high
standards
of
corporate
governance,
transparency,
and
accountability
in
the
execution
of
our
global
business.
This
strategy
and
underlying
principles
apply
to
the
controlled
subsidiaries
of
The
Walt
Disney
Company
and
guide
the
decisions
we
make
relating
to
corporate
tax
matters.
We
incur
taxes
in
the
countries
where
our
activities
take
place,
and
our
policies
prohibit
tax
evasion
or
the
facilitation
of
tax
evasion.
We
work
proactively
and
transparently
with
tax
authorities
to
resolve
tax
positions
that
have
the
potential
to
result
in
tax
disputes.
Learn
more:
Global
Tax
Strategy
Statement
HUMAN
RIGHTS
SV-HL-310a.4
We
are
committed
to
respecting
human
rights,
including
those
of
our
employees,
our
guests
and
customers,
our
communities,
and
our
business
partners.
Our
Human
Rights
webpage
identifies
our
salient
human
rights
issues
related
to
our
people,
content,
products
and
supply
chains,
and
communities,
as
well
as
to
children
and
privacy.
We
reevaluate
our
salient
issues
as
new
information
becomes
available.
Our
commitment
is
informed
by
the
United
Nations
Guiding
Principles
on
Business
and
Human
Rights.
It
recognizes
the
human
rights
referenced
in
the
United
Nations
International
Bill
of
Human
Rights,
the
principles
referenced
in
the
International
Labour
Organizationʼs
Declaration
on
Fundamental
Principles
and
Rights
at
Work,
and
the
Convention
on
the
Rights
of
the
Child.
This
commitment,
along
with
our
focus
areas
and
governance,
is
reflected
in
our
various
practices
and
programs
and
is
outlined
in
our
Human
Rights
Policy
.
SUPPLY
CHAIN
SV-HL-310a.4,
CG-AA-430b.3
We
are
committed
to
working
within
our
global
supply
chains
to
foster
safe,
inclusive,
and
respectful
work
environments.
We
collaborate
with
suppliers
worldwide
as
part
of
our
efforts
to
prevent,
mitigate,
and
remedy
adverse
human
rights
impacts
and
to
reduce
the
environmental
impacts
of
our
operations,
products,
and
services
where
we
operate.
We
also
believe
that
by
engaging
with
a
wide
range
of
suppliers
in
our
sourcing
process,
we
can
encourage
innovative,
cost-effective,
and
high-quality
business
solutions
across
the
enterprise.
Our
Sourcing
teams
work
to
create
a
broad
array
of
potential
suppliers
of
all
kinds
in
order
to
identify
businesses
that
are
most
likely
to
possess
the
specific
expertise
to
meet
our
business
needs.
We
purchase
an
extensive
array
of
products,
materials,
and
services
from
thousands
of
suppliers
to
support
our
operations.
We
expect
our
suppliers
to
uphold
the
standards
outlined
in
our
Supply
Chain
Code
of
Conduct
,
which
is
integrated
into
our
business
operations,
as
appropriate,
including
through
a
range
of
specific
measures
to
monitor
and
assess
compliance.
Yarn
knitting
machine,
part
of
YESS
initiative;
Photo
credit:
RSN/YESS
We
continue
to
develop
new
approaches
that
strengthen
our
responsible
sourcing
practices.
In
fiscal
2025,
we
engaged
one
of
our
apparel
vendors
to
participate
in
a
pilot
of
the
Yarn
Ethically
&
Sustainably
Sourced
(YESS)
initiative,
led
by
Responsible
Sourcing
Network.
The
program
applies
the
Organization
for
Economic
Co-operation
and
Development
(OECD)
risk-
based
due
diligence
framework
to
help
identify
and
reduce
forced
labor
risks
in
apparel
supply
chains.
As
part
of
the
pilot,
the
vendorʼs
fabric
and
spinning
mills
completed
the
program
and
plans
to
conduct
an
on-site
assessment
of
labor
risks.
International
Labor
Standards
The
Disney
International
Labor
Standards
(ILS)
Program
governs
labor
standards
compliance
across
the
extensive
supply
chain
for
Disney-
branded
consumer
products.
In
accordance
with
the
ILS
Program,
licensees
and
vendors
producing
Disney-branded
products
in
certain
countries
are
required
to
conduct
audits,
provide
audit
reports
on
a
regular
basis,
and
work
with
facilities
to
encourage
the
continuous
improvement
of
working
conditions.
The
ILS
Program
Manual
details
operational
requirements
and
compliance
expectations
for
licensees
and
vendors
and
is
informed
by
our
Human
Rights
Policy
,
Supply
Chain
Code
of
Conduct
,
and
Standards
of
Business
Conduct
.
10
Product
Safety
To
help
advance
labor
standards,
we
collaborate
with
outside
organizations
to
incubate
and
pilot
scalable
tools
and
programs
through
Disneyʼs
Supply
Chain
Investment
Program
(SCIP),
which
launched
in
2012.
As
an
example,
in
fiscal
2025,
SCIP
supported
organizations
that
included
Open
Supply
Hub,
a
nonprofit
that
operates
an
open-source
global
supply
chain
data
platform.
The
platform
harmonizes
factory
and
workplace
data
to
improve
transparency
and
collaboration
across
supply
chains.
The
funding
provided
by
SCIP
is
intended
to
help
Open
Supply
Hub
enhance
its
platform
and
expand
due
diligence
capabilities
to
incorporate
additional
social
and
environmental
metrics.
Learn
more:
Supply
Chain
Topic
Brief
Supply
Chain
Permitted
Sourcing
Countries
Policy
SCIP
Projects
Data
&
Frameworks
PRODUCT
SAFETY
The
safety
of
products
bearing
any
Disney
brand,
character,
and
other
intellectual
property
is
very
important
to
us.
Consumer
products
from
any
Disney
brand,
spanning
numerous
categories,
from
toys
and
apparel
to
books
and
fine
art,
are
produced
by
thousands
of
third-party
licensees
and
vendors
around
the
world.
Our
product
safety
program
is
designed
to
account
for
this
breadth
as
well
as
the
rapid
changes
in
scientific
knowledge,
evolving
regulations,
and
customer
and
community
feedback.
Our
Supply
Chain
Code
of
Conduct
specifies
our
expectation
that
suppliers
deliver
products
and
services
that
comply
with
our
safety
and
quality
standards.
Our
Product
Integrity
function
oversees
Disneyʼs
safety
policies,
procedures,
and
operating
requirements
for
physical
products
containing
Disney
intellectual
property
across
the
enterprise.
It
is
led
by
our
Global
Product
&
Labor
Standards
function.
We
require
that
licensees
and
vendors
contractually
commit
to
follow
procedures
to
verify
that
Disney-branded
products
comply
with
applicable
safety
regulatory
requirements
and
any
additional
requirements
that
we
may
specify.
In
conjunction
with
renowned
independent
testing
laboratories,
Disney
developed
product
guidelines
that
specify
applicable
product
safety
standards
for
numerous
product
categories
and
geographic
regions.
These
guidelines
cover
a
broad
range
of
physical,
mechanical,
toxicological,
microbiological,
flammability,
electrical,
and
chemical
safety
requirements.
They
are
available
online
for
use
by
product
designers,
licensees,
and
vendors.
We
require
compliance
with
product
guidelines
that
include
testing
performed
by
accredited
third-party
laboratories
for
Disney-branded
products
developed
and
sourced
by
Disney
entities.
We
have
policies
to
manage
the
use
of
chemicals
in
products
and
a
Priority
Chemicals
List
(PCL)
that
identifies
substances
we
are
working
to
reduce
in
our
branded
products.
For
Disney-
branded
products
developed
and
sourced
by
Disney
entities,
we
have
established
thresholds
and
timelines
to
reduce
our
use
of
these
chemicals.
For
our
licensed
products,
we
encourage
our
licensees
to
similarly
work
to
reduce
these
chemicals.
To
address
compliance
with
our
PCL
policies,
Disney
uses
a
risk-based
approach
that
includes
random
audit
testing
on
select
products
and
the
submission
of
relevant
documentation
by
vendors.
We
conduct
a
regular
review
of
our
PCL
and
consider
various
approaches
to
chemicals
management
to
determine
if
changes
are
necessary.
Learn
more:
Product
Safety
Table
of
Contents
Introduction
&
Our
Approach
Operating
Responsibly
Corporate
Governance
Ethics
Risk
Oversight
Tax
Strategy
Human
Rights
Supply
Chain
Guest
Safety
Information
Security
Privacy
Responsible
AI
Use
Journalistic
Integrity
Digital
Wellness
Responsible
Advertising
People
Environmental
Sustainability
Data
&
Frameworks
SUPPLY
CHAIN
(continued)
11
Product
Safety
To
help
advance
labor
standards,
we
collaborate
with
outside
organizations
to
incubate
and
pilot
scalable
tools
and
programs
through
Disneyʼs
Supply
Chain
Investment
Program
(SCIP),
which
launched
in
2012.
As
an
example,
in
fiscal
2025,
SCIP
supported
organizations
that
included
Open
Supply
Hub,
a
nonprofit
that
operates
an
open-source
global
supply
chain
data
platform.
The
platform
harmonizes
factory
and
workplace
data
to
improve
transparency
and
collaboration
across
supply
chains.
The
funding
provided
by
SCIP
is
intended
to
help
Open
Supply
Hub
enhance
its
platform
and
expand
due
diligence
capabilities
to
incorporate
additional
social
and
environmental
metrics.
Learn
more:
Permitted
Sourcing
Countries
Policy
SCIP
Projects
Data
&
Frameworks
Supply
Chain
Supply
Chain
Topic
Brief
PRODUCT
SAFETY
The
safety
of
products
bearing
any
Disney
brand,
character,
and
other
intellectual
property
is
very
important
to
us.
Consumer
products
from
any
Disney
brand,
spanning
numerous
categories,
from
toys
and
apparel
to
books
and
fine
art,
are
produced
by
thousands
of
third-party
licensees
and
vendors
around
the
world.
Our
product
safety
program
is
designed
to
account
for
this
breadth
as
well
as
the
rapid
changes
in
scientific
knowledge,
evolving
regulations,
and
customer
and
community
feedback.
Our
Supply
Chain
Code
of
Conduct
specifies
our
expectation
that
suppliers
deliver
products
and
services
that
comply
with
our
safety
and
quality
standards.
Our
Product
Integrity
function
oversees
Disneyʼs
safety
policies,
procedures,
and
operating
requirements
for
physical
products
containing
Disney
intellectual
property
across
the
enterprise.
It
is
led
by
our
Global
Product
&
Labor
Standards
function.
We
require
that
licensees
and
vendors
contractually
commit
to
follow
procedures
to
verify
that
Disney-branded
products
comply
with
applicable
safety
regulatory
requirements
and
any
additional
requirements
that
we
may
specify.
In
conjunction
with
renowned
independent
testing
laboratories,
Disney
developed
product
guidelines
that
specify
applicable
product
safety
standards
for
numerous
product
categories
and
geographic
regions.
These
guidelines
cover
a
broad
range
of
physical,
mechanical,
toxicological,
microbiological,
flammability,
electrical,
and
chemical
safety
requirements.
They
are
available
online
for
use
by
product
designers,
licensees,
and
vendors.
We
require
compliance
with
product
guidelines
that
include
testing
performed
by
accredited
third-party
laboratories
for
Disney-branded
products
developed
and
sourced
by
Disney
entities.
We
have
policies
to
manage
the
use
of
chemicals
in
products
and
a
Priority
Chemicals
List
(PCL)
that
identifies
substances
we
are
working
to
reduce
in
our
branded
products.
For
Disney-
branded
products
developed
and
sourced
by
Disney
entities,
we
have
established
thresholds
and
timelines
to
reduce
our
use
of
these
chemicals.
For
our
licensed
products,
we
encourage
our
licensees
to
similarly
work
to
reduce
these
chemicals.
To
address
compliance
with
our
PCL
policies,
Disney
uses
a
risk-based
approach
that
includes
random
audit
testing
on
select
products
and
the
submission
of
relevant
documentation
by
vendors.
We
conduct
a
regular
review
of
our
PCL
and
consider
various
approaches
to
chemicals
management
to
determine
if
changes
are
necessary.
Learn
more:
Product
Safety
Table
of
Contents
Introduction
&
Our
Approach
Operating
Responsibly
Corporate
Governance
Ethics
Risk
Oversight
Tax
Strategy
Human
Rights
Supply
Chain
Product
Safety
Guest
Safety
Information
Security
Privacy
Responsible
AI
Use
Journalistic
Integrity
Digital
Wellness
Responsible
Advertising
People
Environmental
Sustainability
Data
&
Frameworks
GUEST
SAFETY
Safety
is
a
top
priority
for
Disney,
including
at
our
theme
parks
and
resorts
and
cruise
line.
Our
Safety
team
is
composed
of
experts
from
a
broad
range
of
disciplines,
including
medicine,
engineering,
quality
assurance,
maintenance,
attraction
operations,
facilities,
ergonomics,
industrial
hygiene,
occupational
safety,
security,
and
food
safety.
We
conduct
inspections
at
our
properties
to
monitor
compliance
with
internal
standards
and
regulations.
We
regularly
provide
guest
safety
training
and
information
to
our
cast
and
crew
members
through
formal
instruction,
on-the-job
training,
and
ongoing
communications.
We
also
conduct
guest
safety
culture
conversations
throughout
the
year
with
salaried
leaders
at
our
theme
parks
to
share
stories,
practices,
and
learnings
designed
to
engage
our
teams.
Ride
Safety
According
to
the
annual
International
Association
of
Amusement
Parks
and
Attractions
Ride
Safety
Report,
which
is
administered
by
the
National
Safety
Council,
the
injury
rate
across
industry
was
0.78
per
million
rides
taken
in
2024.
†
During
calendar
year
2024,
our
U.S.
Disney
Parks
reported
rates
averaging
67%
below
the
industry
average.
Food
Safety
Our
parks
and
resorts
take
a
multifaceted
approach
to
food
safety,
including:
•
A
vendor
food
safety
program
requiring
suppliers
to
follow
established
food
safety
protocols
and
demonstrate
compliance
with
regulatory
requirements
•
Annual
food
safety
audits
and
thorough
measurements
across
our
properties
to
help
us
verify
adherence
to
regulations
and
company
standards,
including
a
hazard
analysis
program,
which
uses
Disney-developed
technology
to
collect
important
food
safety
data
and
improves
accuracy
and
accountability
•
Education
and
rigorous
formal
training
for
cast
members
who
work
with
food
on
topics
that
include
proper
food
handling,
storage
and
preparation,
personal
hygiene,
and
sanitation
requirements
Outside
of
parks
and
resorts,
Disney-branded
food
products,
including
promotions
with
food
services,
are
required
to
meet
or
exceed
applicable
food
safety
laws,
regulations,
and
industry
standards.
Safety
in
Our
Parks
and
Communities
Disney's
Wild
About
Safety
global
educational
program
aims
to
improve
familiesʼ
awareness
of
safety,
health,
and
environmental
issues
in
our
parks,
resorts,
and
cruise
line
and
in
our
communities
through
storytelling.
Timon
and
Pumbaa,
from
the
animated
film
The
Lion
King
,
are
on
a
mission
to
share
important
safety
and
health
messages
through
illustrations
on
tip
cards,
activity
books,
a
dedicated
resort
television
channel,
and
other
materials
worldwide.
These
important
safety
and
health
messages
help
inform
guests
about
how
to
safely
enjoy
themselves
at
our
parks,
resorts,
and
cruise
line
and
in
the
communities
in
which
we
operate.
Accessible
Experiences
Our
theme
parks
offer
guests
with
disabilities
a
range
of
tools
and
services
designed
to
create
more
inclusive
experiences.
These
include
accessibility
services
and
accommodations;
audio
descriptions;
Braille,
tactile,
and
large-print
maps
and
guides
for
guests
with
visual
or
cognitive
disabilities;
assistive
listening,
captioning,
and
sign
language
interpretation;
quiet
areas
for
guests
with
sensory
needs;
and
more.
Each
park
provides
accessibility
information
on
its
site-specific
website.
In
fiscal
2025:
•
Disneyland
Paris
became
the
first
theme
park
in
France
to
release
an
image-based
tool
to
help
guests
with
speech
challenges
better
plan
their
visits
and
communicate
their
interests.
The
tool
contains
images
of
key
experiences
across
the
resort
such
as
attractions,
shows,
Disney
characters,
dining,
and
merchandise.
The
park
also
introduced
vibrating
vests
during
select
shows,
enabling
guests
with
and
without
disabilities
to
feel
the
music
and
further
immerse
themselves
in
live
entertainment
•
The
Walt
Disney
Company
UK
and
Make-A-
Wish
®
UK
came
together
for
the
fifth
annual
A
Disney
Wish
UK—an
immersive
experience
that
brings
the
happiness,
joy,
and
magic
of
Disney
to
nearly
200
children
living
with
critical
illnesses.
With
many
Make-A-Wish
families
unable
to
travel
to
a
Disney
Park
due
to
their
circumstances,
A
Disney
Wish
brings
unforgettable
experiences
such
as
unique
Disney
shows,
character
meet-and-greets,
and
a
carnival
with
an
accessible
carousel
to
the
families
over
the
course
of
twelve
days
•
Through
its
Accessibility
Task
Force,
Hong
Kong
Disneyland
Resort
has
developed
full-
color
tactile
models
of
ride
vehicles
for
select
attractions
to
enable
guests
with
visual
impairments
to
explore
key
features
by
touch
before
boarding
Learn
more:
Disney
Experiences:
Guest
and
Workplace
Safety
Topic
Brief
Accessibility
Topic
Brief
Walt
Disney
World
Resort
Disneyland
Resort
Disneyland
Paris
Hong
Kong
Disneyland
Resort
Shanghai
Disney
Resort
Tokyo
Disney
Resort
Disney
Cruise
Line
12
†
National
Safety
Council,
“North
America
Fixed-Site
Amusement
Ride
Safety
Report,
2024
Update,
Executive
Summary.”
Page
10,
Published,
October
2025
.
Information
Security
Privacy
Responsible
AI
Use
Table
of
Contents
Introduction
&
Our
Approach
Operating
Responsibly
Corporate
Governance
Ethics
Risk
Oversight
Tax
Strategy
Human
Rights
Supply
Chain
Product
Safety
Guest
Safety
Journalistic
Integrity
Digital
Wellness
Responsible
Advertising
People
Environmental
Sustainability
Data
&
Frameworks
INFORMATION
SECURITY
TC-IM-230a.2
Information
security,
inclusive
of
cybersecurity
and
aligned
with
the
companyʼs
global
security
efforts,
is
an
important
aspect
of
operations
as
it
protects
Disneyʼs
systems,
data,
networks,
services,
and
applications
from
digital
threats.
The
companyʼs
information
security
management
system
is
designed
to
safeguard
Disneyʼs
global
digital
environment
as
our
businesses
expand.
Our
information
security
program
is
guided
by
the
National
Institute
of
Standards
and
Technology
Cybersecurity
Framework
and
other
applicable
globally
recognized
information
security
frameworks
and
their
core
principles.
The
Audit
Committee
of
our
Board
of
Directors
oversees
information
technology
risks,
including
cybersecurity
and
data
security
risks
and
mitigation
strategies.
Day-to-day
management
of
our
information
security
strategy
and
operations
is
the
responsibility
of
our
Chief
Information
Security
Officer,
who
reports
to
our
Chief
Information
&
Data
Officer
and
Chief
Security
Officer,
both
of
whom
report
to
our
Chief
Financial
Officer.
At
least
once
per
year,
the
Audit
Committee
receives
reports
from
the
Chief
Information
Security
Officer
concerning
the
companyʼs
cybersecurity
and
data
security
risks,
including
ongoing
efforts
to
prevent,
detect,
monitor,
remediate,
and
manage
such
cybersecurity
threats,
the
threat
environment,
incident
updates,
and
emerging
cybersecurity
practices
and
technologies.
Learn
more:
Cybersecurity
Topic
Brief
PRIVACY
TC-IM-220a.1
We
have
policies
designed
to
enhance
the
protection
of
the
personal
information
of
our
customers,
guests,
non-guests
(including
job
applicants
and
third-party
businesses),
and
employees.
Our
global
privacy
program
is
based
on
the
principles
of
privacy
by
design,
accountability,
transparency,
and
giving
individuals
meaningful
controls
over
their
personal
information.
We
regularly
assess
and
update
our
program
to
take
into
account
applicable
requirements
of
new
privacy
laws
and
regulations
around
the
world
and
to
keep
up
with
rapid
advancements
in
technology
and
new
business
initiatives.
This
includes
working
with
people
across
the
company
to
implement
evolving
data
protection
requirements
across
Europe,
the
UK,
Latin
America,
Asia,
and
the
United
States.
We
provide
privacy
training
to
our
employees
and
have
incorporated
privacy
topics
into
the
companyʼs
Standards
of
Business
Conduct
and
information
security
trainings—both
of
which
are
required
on
a
recurring
basis.
We
also
regularly
conduct
specialized
trainings
for
applicable
employees
on
how
to
properly
handle
the
personal
information
of
customers,
employees,
contractors,
and/or
third
parties.
Day-to-day
management
of
data
privacy
policies
is
currently
overseen
by
our
General
Counsel
-
International
and
EVP,
Global
Public
Policy
&
Privacy,
who
reports
to
our
Chief
Legal
&
Global
Affairs
Officer.
Learn
more:
Privacy
Center
Privacy
Policy
Children's
Online
Privacy
Policy
RESPONSIBLE
AI
USE
Disney
has
a
rich
history
at
the
intersection
of
creativity
and
innovation—blending
storytelling
and
technology
to
bring
imagination
to
life
and
connect
people
to
iconic
characters,
stories,
and
brands.
We
embrace
the
promise
of
artificial
intelligence
(AI)
as
a
tool
to
benefit
our
employees,
customers,
guests,
and
creators.
We
are
committed
to
using
AI
in
a
responsible,
human-centered,
and
ethical
manner
that
recognizes
the
value
of
human
creativity,
respects
intellectual
property,
and
considers
our
audiencesʼ
expectations.
While
we
recognize
AIʼs
potential,
we
also
understand
the
importance
of
responsible
development
and
use
of
AI.
We
support
a
thoughtful
approach
that
allows
both
the
AI
technology
and
creative
industries
to
flourish.
This
ultimately
promotes
a
responsible,
global
AI
ecosystem
by
design—one
that
is
based
on
trust,
safety,
privacy,
and
respect
for
intellectual
property
(IP)
rights.
This
includes
Disney
working
with
other
companies
and
organizations
to
protect
our
creators,
our
customers,
and
our
own
IP
rights.
Internally,
we
have
established
an
AI
governance
process
that
operates
pursuant
to
a
principles-
based
framework.
It
is
designed
to
identify
business,
information
integrity,
human
rights,
privacy,
legal,
and
other
risks
associated
with
a
proposed
use
as
well
as
measures
that
can
be
employed
to
satisfactorily
mitigate
them.
The
governance
model
includes
appropriate
updates
to
executive
management
and
the
Board.
In
addition,
our
use
of
AI
is
subject
to
our
generally
applicable
governance
practices
and
policies,
such
as
our
Standards
of
Business
Conduct
,
Privacy
Policy
,
Human
Rights
Policy
,
and
relevant
guild
or
collective
bargaining
agreements.
Learn
more:
Responsible
AI
Use
Topic
Brief
13
Information
Security
Privacy
Responsible
AI
Use
Table
of
Contents
Introduction
&
Our
Approach
Operating
Responsibly
Corporate
Governance
Ethics
Risk
Oversight
Tax
Strategy
Human
Rights
Supply
Chain
Product
Safety
Guest
Safety
Information
Security
Privacy
Responsible
AI
Use
Journalistic
Integrity
Digital
Wellness
Responsible
Advertising
People
Environmental
Sustainability
Data
&
Frameworks
JOURNALISTIC
INTEGRITY
SV-ME-270a.3
It
is
our
responsibility
to
uphold
the
principles
of
fairness
and
integrity
as
we
gather
and
report
the
news.
Our
journalists
worldwide
are
expected
to
approach
their
work
with
rigor,
to
question
thoroughly
and
skeptically,
to
analyze
deeply,
and
to
adhere
to
a
journalistic
standard
of
ethics.
Our
news
operations
and
content
are
guided
by
this
dedication
to
high-quality
journalism
and
editorial
integrity.
This
means
a
commitment
to
fairness,
compelling
storytelling,
and
accuracy
across
ABC
News
and
ESPN.
In
fiscal
2025,
ABC
News
continued
to
expand
its
reach.
The
network
launched
its
first
news
show
exclusively
for
Disney+,
What
You
Need
to
Know
,
and
added
100
new
hours
of
programming.
Across
platforms,
it
delivered
high-quality
podcasts
and
Hulu
content
and
grew
social
media
engagement
to
more
than
16
billion
views.
These
efforts
reflect
ABC
Newsʼ
commitment
to
delivering
trusted,
accessible
journalism
to
audiences
wherever
they
are.
In
fiscal
2025,
ABC
News
Group
won
four
News
&
Doc
Emmy
Awards,
including
Outstanding
Live
News
Program.
The
group
also
won
six
Edward
R.
Murrow
awards,
including
Overall
Excellence
honors
for
both
television
and
radio.
These
awards
recognize
local
and
national
news
stories
that
uphold
journalistic
standards
of
ethics,
demonstrate
technical
expertise,
and
exemplify
the
importance
and
impact
of
journalism
as
a
service
to
the
community.
At
ESPN,
our
commitment
to
journalistic
integrity
is
supported
by
detailed
editorial
guidelines
intended
to
protect
ESPNʼs
journalistic
credibility.
It
is
enhanced
by
the
oversight
of
the
ESPN
Editorial
Board,
which
meets
regularly
to
review
coverage
policies
and
procedures.
ESPN
won
numerous
awards
in
fiscal
2025,
including
two
Edward
R.
Murrow
awards.
Learn
more:
Journalistic
Integrity
Topic
Brief
DIGITAL
WELLNESS
Our
digital
wellness
policies
and
practices
are
designed
to
support
the
well-being
of
children
and
youth
online.
We
believe
the
digital
world
should
be
a
safe
and
positive
space
for
kids
and
families
to
engage,
learn,
explore,
and
express
themselves.
We
strive
to
create
high-quality,
respectful
content
and
experiences
designed
for
audiences
of
all
ages,
including
families.
We
distribute
content
across
multiple
channels,
including
our
own
digital
offerings.
Our
internal
policies
and
practices
promote
safety
within
our
digital
experiences,
providing
parents
and
caregivers
with
controls
and
guidance
to
help
them
choose
content
and
experiences
that
are
right
for
their
families.
To
learn
more
about
parental
controls
and
digital
wellness
features,
visit
the
Help
Centers
of
Disney+
and
Hulu.
Through
our
Digital
Wellness
Grant
Program,
we
invest
in
organizations
that
promote
digital
citizenship
and
the
safe,
responsible
use
of
technology.
We
provide
funding
to
nonprofits
and
intergovernmental
organizations
working
to
educate
children,
parents,
caregivers,
and
educators
around
the
world.
We
also
participate
in
industry
coalitions
to
advance
online
safety
awareness
and
best
practices.
Accessible
Content
At
Disney,
we
strive
to
create
environments
where
children
and
families
can
engage
with
our
stories
safely,
confidently,
and
in
ways
that
support
their
well-being.
We
are
committed
to
increasing
the
accessibility
of
our
content
offerings,
providing
tools
and
formats
for
our
audiences
so
that
more
can
use
and
access
them.
Our
streaming
platforms,
networks,
and
other
distribution
channels
offer
a
range
of
tools
and
accessibility
features.
These
features
vary
by
platform
and
include
audio
description,
closed
captioning,
keyboard
navigation,
and
interoperability
with
popular
screen
readers.
Responsible
Digital
Experiences
Disney
also
supports
children
getting
active
through
fun,
story-driven
experiences.
Around
the
world,
we
work
with
sports
and
education
organizations
to
make
physical
activity
more
accessible
and
enjoyable
for
children.
Examples
from
fiscal
2025
include:
•
Disney
launched
Disney
Jr.
Letʼs
Play!,
a
global,
multiplatform
campaign
that
encourages
preschoolers
to
experience
the
joy
of
play
through
Disney
Jr.ʼs
beloved
characters
and
stories
•
Superhero
Series:
Superhero
Tri
powered
by
Marvel,
is
part
of
a
series
of
mass-participation
sporting
events
in
the
U.K.
designed
specifically
for
people,
including
children
and
families,
with
disabilities.
In
its
ninth
year,
it
continues
to
bring
together
thousands
of
“Everyday
Superheroes”
each
year
to
take
part
in
flexible
swim,
cycle,
and
push/run
challenges
with
an
“anything
goes”
approach
14
Table
of
Contents
Introduction
&
Our
Approach
Operating
Responsibly
Corporate
Governance
Ethics
Risk
Oversight
Tax
Strategy
Human
Rights
Supply
Chain
Product
Safety
Guest
Safety
Information
Security
Privacy
Responsible
AI
Use
Journalistic
Integrity
Digital
Wellness
Responsible
Advertising
People
Environmental
Sustainability
Data
&
Frameworks
DIGITAL
WELLNESS
(continued)
•
UEFA
Playmakers
introduces
five-to-eight-
year-old
girls
across
Europe
to
football
through
movement,
play,
and
the
magic
of
Disney
storytelling,
benefiting
more
than
38,000
girls
in
fiscal
2025
•
In
Africa,
the
Disney
Happy
Healthy
Play
Programme,
developed
with
Sporting
Chance,
equips
under-resourced
schools
with
creative
tools
and
activities
inspired
by
Disney
characters
to
help
integrate
physical
education
into
their
curricula.
In
fiscal
2025,
the
program
reached
40,000
children
Learn
more:
Digital
Wellness
Topic
Brief
Accessibility
Topic
Brief
RESPONSIBLE
ADVERTISING
&
MARKETING
FB-RN-260a.3
Advertising
&
Marketing
to
Children
Our
policy
is
to
present
advertising
that
is
truthful,
accurate,
tasteful,
and
age-appropriate
for
the
audience.
We
promote
compliance
with
applicable
laws,
regulations,
and
industry
standards
and
uphold
our
own
corporate
quality
and
brand
guidelines.
Our
dedicated
standards
professionals
review
advertising
content
(e.g.,
third-party
commercials,
co-branded
custom
content,
public
service
announcements)
to
assess
compliance
with
our
guidelines
and
appropriateness
for
audiences
across
our
platforms.
We
consider
childrenʼs
cognitive
and
emotional
maturity
when
reviewing
advertising
delivered
on
our
platforms
and
when
developing
marketing
materials
for
our
own
products
and
experiences
intended
for
younger
audiences.
Our
guidelines
are
designed
to
promote
digital
and
physical
safety
for
children
and
help
parents
and
caregivers
decide
on
the
appropriate
experiences
for
their
families.
Promoting
Healthy
Food
Choices
We
promote
healthier
food
and
beverage
choices
for
children
through
our
Nutrition
Guidelines.
These
guidelines
apply
when
our
intellectual
property,
including
a
beloved
character,
is
associated
with
food
and
beverage
products,
and
are
intended
to
encourage
more
nutritious
choices
for
kids
and
families.
Ongoing
review
of
these
global
guidelines
help
us
align
with
current
dietary
recommendations
and
consider
evolving
social
and
scientific
perspectives
on
childrenʼs
development
and
needs.
The
guidelines
apply
to
Studio
promotions
and
character
licensing,
third-party
advertising
on
our
kidsʼ
networks,
the
placement
of
food
and
beverage
advertising
on
Disney+,
and
kidsʼ
meals
in
our
parks.
In
fiscal
2025,
Disney
collaborated
with
multiple
fresh
produce
partners,
including
Rainier
Fruit,
to
promote
fruit
and
vegetable
consumption
among
kids
and
families.
Learn
more:
Nutrition
Guidelines
Disney
character
advertising
on
fresh
produce,
such
as
apples.
Responsible
Gaming
ESPN
is
strongly
committed
to
promoting
fan
safety
in
the
sports
betting
space.
ESPN
continues
its
efforts
to
create
and
adapt
responsible
gaming
programming
and
policies,
including:
•
An
employee
betting
policy
that
includes
rules
to
support
ESPNʼs
standards
of
journalistic
integrity
when
covering
sports
betting
•
An
ESPN
committee
on
responsible
gaming,
composed
of
a
cross-section
of
executives
and
key
stakeholders
across
the
business,
to
regularly
review
compliance,
programming,
and
policies
•
Implementation
of
responsible
marketing
policies
and
guidelines
designed
to
promote
fan
safety,
including
restrictions
on
advertising
to
underage
audiences
and
marketing
on
college
campuses
•
Working
with
industry
experts
to
share
best
practices
and
regularly
review
responsible
gaming
programming,
including
collaboration
with
and
support
for
the
University
of
Nevada,
Las
Vegas
International
Gaming
Institute,
to
advance
responsible
sports
betting
through
education
and
research
•
New
responsible
gaming
public
service
announcements
(PSAs)
launched
in
fiscal
2025,
such
as
The
Smart
Play,
directing
fans
to
resources
on
responsible
sports
betting
and
promoting
conversations
about
responsible
gaming
practices
15
People
People
OVERVIEW
Disney
is
home
to
some
of
the
most
exceptional,
passionate,
and
dedicated
people.
We
welcome
talent
of
every
kind—from
every
corner
of
the
globe—and
strive
to
create
an
environment
where
each
individual
feels
inspired
and
empowered
to
both
be
and
do
their
best.
We
invest
in
meaningful
experiences,
opportunities,
and
resources
that
help
our
people
grow
and
thrive,
personally
and
professionally.
We
want
this
investment,
combined
with
a
culture
that
celebrates
our
people's
contributions
and
impact,
to
be
a
source
of
pride
for
employees
around
the
world.
We
recognize
and
reinforce
that
pride
through
leadership
and
employee
engagement,
including
dynamic
content
and
events
that
embody
the
Disney
spirit.
Learn
more:
Investing
in
Our
People
Inclusion
Social
Impact
Standards
of
Business
Conduct
Table
of
Contents
Introduction
&
Our
Approach
Operating
Responsibly
Comprehensive
Total
Rewards
Health
&
Well-Being
Workplace
Safety
Engagement
&
Inclusion
Talent
Development
Environmental
Sustainability
Data
&
Frameworks
16
People
People
OVERVIEW
Disney
is
home
to
some
of
the
most
exceptional,
passionate,
and
dedicated
people.
We
welcome
talent
of
every
kind—from
every
corner
of
the
globe—and
strive
to
create
an
environment
where
each
individual
feels
inspired
and
empowered
to
both
be
and
do
their
best.
We
invest
in
meaningful
experiences,
opportunities,
and
resources
that
help
our
people
grow
and
thrive,
personally
and
professionally.
We
want
this
investment,
combined
with
a
culture
that
celebrates
our
people's
contributions
and
impact,
to
be
a
source
of
pride
for
employees
around
the
world.
We
recognize
and
reinforce
that
pride
through
leadership
and
employee
engagement,
including
dynamic
content
and
events
that
embody
the
Disney
spirit.
Learn
more:
Investing
in
Our
People
Inclusion
Social
Impact
Standards
of
Business
Conduct
Comprehensive
Total
Rewards
COMPREHENSIVE
TOTAL
REWARDS
SV-HL-310a.3
To
help
attract
and
retain
top
talent,
Disney
offers
competitive
total
rewards
that
include
pay,
health
and
savings
benefits,
time
off
programs,
educational
opportunities,
and
more.
Together,
these
rewards
make
up
a
comprehensive
package
that
empowers
our
employees
and
cast
members
to
grow
and
thrive
and
to
take
advantage
of
the
special
extras
that
only
Disney
can
provide.
These
include
complimentary
theme
park
admission,
a
variety
of
discounts,
and
complimentary
access
to
our
streaming
services
for
eligible
employees.
Equitable
Pay
Commitment
Disney
is
committed
to
fostering
a
respectful
and
equitable
workplace
culture.
Our
annual
pay
ratio
analysis
is
one
way
we
are
striving
to
meet
that
ongoing
commitment.
This
analysis
compares
the
base
pay,
bonus,
and
long-term
incentives
of
eligible
U.S.
employees
based
on
gender,
race,
and
ethnicity.
As
of
September
2025,
the
adjusted
median
pay
ratio
analysis,
which
adjusted
for
factors
such
as
role,
experience,
and
location,
resulted
in
each
pay
ratio
at
99%
or
higher.
When
not
adjusting
for
these
factors,
the
analysis
resulted
in
pay
ratios
at
84%
or
higher.
While
we
disclose
our
annual
pay
ratios
on
both
an
adjusted
and
unadjusted
basis,
we
believe
that
the
adjusted
analysis
is
more
meaningful
and
consistent
with
the
reporting
of
the
largest
U.S.
companies.
Wages
for
Hourly
Employees
In
fiscal
2025,
almost
all
hourly
full-time
and
part-time
employees
within
our
U.S.
Disney
Experiences
business
earned
a
base
rate
of
$18/hour
or
more,
and
median
hourly
earnings
were
more
than
$23/hour.
†
Pay
Transparency
We
recognize
the
importance
of
pay
transparency
to
our
employees,
shareholders,
and
others,
and
we
are
committed
to
helping
our
employees
and
cast
members
understand
our
pay
philosophy
and
practices.
We
believe
this
supports
a
culture
of
clarity,
understanding,
and
trust.
In
fiscal
2025,
we
rolled
out
executive
training
on
our
pay
approach
and
began
offering
a
pay
education
training
module
to
U.S.
employees.
We
continue
to
monitor
global
developments
to
guide
our
communication
of
pay
ranges.
Annual
Bonus
Plan
Disneyʼs
Annual
Bonus
Plan
is
a
discretionary
plan
that
recognizes
eligible
employees'
contributions
to
the
success
of
our
business.
Generally,
eligibility
includes
our
executives,
management,
and
certain
professional
roles.
We
updated
our
fiscal
2025
Annual
Bonus
Plan
performance
measures
to
assess
talent
strategy—evaluating
how
leaders
uphold
our
company
values,
incorporate
different
perspectives,
cultivate
an
environment
where
all
employees
can
thrive,
and
maintain
a
robust
pipeline
of
talent
to
support
long-term
organizational
strength.
Employee
Benefits
Disneyʼs
benefit
offerings
are
designed
to
meet
the
varied
and
evolving
needs
of
our
workforce
across
businesses
and
geographies
while
enabling
employees
and
their
loved
ones
to
thrive
in
their
daily
lives.
In
fiscal
2025,
our
benefits
were
recognized
through
several
prestigious
awards,
including
Plan
Sponsor
of
the
Year
for
retirement
plan
design
and
financial
education
as
well
as
multiple
Business
Group
on
Health
Employer
Awards
for
excellence
in
health
and
well-being.
For
information
on
our
new
global
education
platforms
that
are
focused
on
financial
well-being
and
family
health,
see
the
Employee
Mental
Health
&
Well-Being
section.
Learn
more:
Employee
and
Cast
Member
Benefits
Standards
of
Business
Conduct
†
See
footnote
36
on
p.
40
.
Table
of
Contents
Introduction
&
Our
Approach
Operating
Responsibly
People
Health
&
Well-Being
Workplace
Safety
Engagement
&
Inclusion
Talent
Development
Environmental
Sustainability
Data
&
Frameworks
17
Comprehensive
Total
Rewards
Learn
more:
Employee
and
Cast
Member
Benefits
Standards
of
Business
Conduct
Table
of
Contents
Introduction
&
Our
Approach
Operating
Responsibly
People
Comprehensive
Total
Rewards
Health
&
Well-Being
Workplace
Safety
Engagement
&
Inclusion
Talent
Development
Environmental
Sustainability
Data
&
Frameworks
EMPLOYEE
MENTAL
HEALTH
&
WELL-BEING
We
strive
to
provide
a
caring
and
respectful
work
environment
where
employees
have
the
support
they
need
and
the
peace
of
mind
they
deserve.
Mental
Health
We
offer
a
variety
of
in-person
and
virtual
mental
health
resources
to
support
employees
and
their
loved
ones
across
a
spectrum
of
needs.
These
include
tools
and
programs
for
mindfulness,
meditation,
and
stress
management
as
well
as
to
access
to
mental
health
care
providers.
Our
Employee
Assistance
Program
(EAP)
is
available
to
eligible
employees,
their
families,
and
their
household
members,
providing
support
and
direct
connections
to
licensed
network
therapists.
In
fiscal
2025,
we
strengthened
our
U.S.
EAP
by
improving
navigation
and
expanding
access
to
a
broader
provider
network.
Employees
enrolled
in
a
Disney
medical
plan
also
have
access
to
a
range
of
behavioral
health
resources
that
provide
patient-centered
care.
Employee
Well-Being
Disney
offers
virtual
and
in-person
well-being
programs,
tools,
and
resources
for
employees
around
the
world,
including
classes
and
events
at
campus
wellness
centers.
Employees
also
have
access
to
on-demand
well-being
apps
and
platforms
that
support
stress
management,
encourage
movement,
improve
mindfulness
and
sleep,
strengthen
personal
resiliency,
and
offer
personalized
financial
education.
In
fiscal
2025,
we
enhanced
our
offerings
by
introducing
global
education
platforms
focused
on
financial
wellness
and
family
health
and
launching
a
personalized
digital
tool
to
help
employees
manage
their
overall
well-being.
Support
for
Employees
During
Wildfires
In
response
to
the
Southern
California
wildfires,
we
supported
impacted
employees
and
cast
members
by
prioritizing
safety,
stability,
and
practical
assistance
as
they
navigated
disruption
and
recovery.
The
greater
Los
Angeles
region
has
been
home
to
Disney
for
more
than
a
century
and
to
thousands
of
our
employees
who
live
and
work
in
the
community.
In
fiscal
2025,
we
expanded
our
contract
with
International
SOS
to
include
crisis
response
services
in
the
U.S.,
bolstered
the
Disney
Employee
Relief
Fund
to
assist
employees
facing
wildfire-related
hardship,
and
provided
both
short-term
and
long-term
housing
support
to
employees
who
were
displaced.
Disney
Entertainment
Television
also
opened
its
wardrobe
warehouse
to
affected
employees,
production
crew,
and
their
families,
offering
clothing
and
shoes
at
no
cost.
Read
more
about
how
we
mobilized
resources
in
response
to
the
Southern
California
wildfires
on
page
20
.
WORKPLACE
SAFETY
SV-HL-310a.4
We
take
cast
member
and
employee
safety
seriously
and
focus
on
proactive
safety
measures
designed
to
prevent
incidents
and
promote
a
safe
workplace.
Teams
staffed
by
safety
professionals,
such
as
medical
doctors
and
nurses,
professional
engineers,
certified
industrial
hygienists,
certified
professional
ergonomists,
public
health
and
certified
food
safety
professionals,
registered
sanitarians,
microbiologists,
and
other
specialists,
help
identify
risks
and
support
a
safe
work
environment
for
our
cast
members
and
employees.
Our
internal
programs
and
policies,
including
our
Standards
of
Business
Conduct
,
are
designed
to
promote
a
culture
of
safety
and
provide
multiple
channels
for
reporting
safety
concerns
and
incidents.
Employees
can
report
safety
concerns
in
several
ways,
including
to
a
supervisor,
through
our
Global
Security
Communications
Center,
via
an
anonymous
safety
line,
or
online
through
our
internal
system,
The
Guideline,
where
legally
permitted.
Safety
and
Wellness
Committees
in
certain
areas
of
our
businesses
can
also
assist
employees
in
sharing
or
reporting
concerns.
We
also
have
global
safety
appreciation
programs
to
recognize
employees
who
demonstrate
outstanding
safety
behaviors.
Production
Safety
We
maintain
a
comprehensive
Occupational
Health
and
Safety
Program
for
physical
film
and
television
productions
to
safeguard
cast
and
crew
and
promote
compliance
with
industry
standards
and
regulations.
Each
production
is
assigned
a
Production
Safety
Representative,
a
technical
expert
who
partners
with
crews
to
implement
safety
protocols
that
reduce
risk
and
promote
a
strong
safety
culture.
Our
program
focuses
on
hazard
identification
and
prevention.
We
conduct
regular
inspections
and
promptly
address
unsafe
conditions
based
on
severity.
We
investigate
incidents
as
appropriate
to
determine
root
causes
and
implement
corrective
actions
aimed
at
preventing
recurrence.
Communication
and
training
are
central
to
our
approach.
Safety
information
is
shared
through
multiple
communication
channels.
Employees
may
report
hazards
anonymously
and
cast
members
and
crew
receive
role-specific
training
as
appropriate.
Topics
include
core
safety
guidelines,
emergency
response,
evacuation
procedures,
accident
reporting,
chemical
awareness,
and
hazard
recognition.
We
maintain
documentation
of
inspections,
investigations,
and
training
to
support
accountability
and
continuous
improvement.
Sports
Production
Safety
Our
sports
production
safety
approach
includes
proactive
planning
and
dedicated
oversight.
Emergency
Action
Plans
are
reviewed
in
advance
and
on-site
assessments
of
work
areas
are
conducted
and
electrical
systems
and
temporary
stages
are
designed
to
help
identify
and
mitigate
potential
hazards.
Safety
at
Our
Parks
We
continue
to
support
health
and
safety
programs
for
cast
members
at
our
theme
parks.
Our
SafeLine
process
enables
direct
or
anonymous
reporting
of
concerns,
with
follow-up
and
trend
monitoring
to
support
early
identification
of
issues.
In
partnership
with
Disneyʼs
Health
Services
team,
we
expanded
the
Incredible
Athlete
program
to
help
cast
members
build
the
physical
readiness
needed
to
perform
their
roles
safely.
18
Table
of
Contents
Introduction
&
Our
Approach
Operating
Responsibly
People
Comprehensive
Total
Rewards
Health
&
Well-Being
Workplace
Safety
Engagement
&
Inclusion
Talent
Development
Environmental
Sustainability
Data
&
Frameworks
EMPLOYEE
ENGAGEMENT
&
INCLUSION
SV-ME-260a.1
Disney
is
committed
to
engaging
and
inspiring
employees
and
creating
a
culture
that
is
welcoming
and
respectful
of
all.
By
connecting
employees
to
our
brand
and
vision,
we
cultivate
an
exceptional
employee
experience.
Across
Disney,
we
purposefully
build
supportive
environments
and
champion
a
culture
where
everyone
feels
like
they
belong—and
can
thrive,
flourish,
and
make
a
positive
impact.
Disney
believes
that
expanding
access
to
opportunities
and
creating
a
welcoming,
respectful
environment
for
employees
and
guests
help
drive
our
business
and
fulfill
our
mission
of
entertaining
generations
of
families
from
all
walks
of
life
around
the
world.
The
company
champions
a
culture
of
belonging,
centered
around
four
key
pillars:
People,
Culture,
Market
Reach,
and
Community,
which
are
aligned
with
our
business
goals
and
company
values.
Onboarding
New
Talent
U.S.-based
new
hires
attend
an
orientation
experience
focused
on
our
history
and
mission,
strategic
priorities,
global
structure,
and
brand
stewardship.
They
are
informed
of
the
benefits,
opportunities,
and
the
only-at-Disney
perks
available
to
them.
Business
segments
build
on
this
with
supplemental
tailored
orientations.
In
fiscal
2025,
we
launched
a
survey
for
candidates
and
new
hires
to
gain
deeper
insights
into
their
recruitment
and
onboarding
experiences.
Listening
to
and
Learning
From
Our
Employees
We
are
committed
to
listening
to
and
learning
from
employees
across
the
company,
sharing
their
stories,
and
incorporating
their
valuable
ideas
and
feedback.
At
the
local
level,
we
use
feedback
to
focus
our
team
actions.
At
the
company
level,
employee
insights
help
identify
and
inform
global
initiatives
to
enhance
the
employee
experience.
One
way
we
listen
to
our
employees
is
through
our
Disney
Employee
Experience
Survey,
which
is
sent
quarterly
to
a
representative
sample
of
employees
and
cast
members.
Each
eligible
employee
is
invited
to
participate
at
least
once
annually.
In
fiscal
2025,
we
expanded
the
survey
sample
size,
allowing
us
to
hear
from
even
more
employees
each
quarter.
This
resulted
in
nearly
90,000
unique
employee
responses
with
representation
across
all
business
segments.
We
also
broadened
our
approach
by
introducing
rotating
questions
to
explore
specific
topics
in
greater
depth.
Findings
from
employee
engagement
activities,
including
surveys,
are
regularly
shared
with
senior
leadership
and
the
Board
and
are
used
to
inform
company
initiatives.
Insights
from
the
most
recent
survey
show
that
nine
in
10
employees
are
proud
to
work
at
Disney,
nine
in
10
feel
able
to
do
great
work,
and
eight
in
10
are
optimistic
about
the
companyʼs
future.
Employee-Led
Groups
Disney's
Employee-Led
Groups,
what
we
refer
to
as
Belonging
Employee
Resource
Groups,
strengthen
our
culture
and
community
of
belonging.
These
voluntary
groups
are
open
to
all
and
provide
employees
with
opportunities
to
develop
leadership
skills,
network,
engage
with
fellow
employees,
and
participate
in
meaningful
community
outreach
and
volunteer
efforts.
Recognizing
Each
Other
Recognition
is
an
important
part
of
our
organizational
culture
and
is
part
of
what
makes
Disney
a
great
place
to
work.
Employees
celebrate
one
anotherʼs
outstanding
work
and
share
notes
of
appreciation
through
our
global
digital
platforms,
sending
more
than
1
million
messages
of
gratitude
in
fiscal
2025.
Guests
also
play
a
meaningful
role
in
recognizing
our
people,
submitting
more
than
1
million
Mobile
Cast
Compliments
to
cast
members
at
Walt
Disney
World
Resort
and
Disneyland
Resort.
Cast,
crew,
Imagineers,
and
employees
are
honored
for
their
tenure
at
Service
Celebration
events
held
around
the
world.
In
fiscal
2025,
we
celebrated
more
than
45,500
service
anniversaries
across
34
countries
and
regions
and
marked
the
60th
anniversary
of
the
Disney
Service
Awards
program.
We
also
introduced
new
15-year
service
milestone
awards
at
Hong
Kong
Disneyland
Resort
and
Shanghai
Disney
Resort,
recognizing
nearly
190
long-tenured
cast
members
for
their
dedication
and
contributions.
19
†
Table
of
Contents
Introduction
&
Our
Approach
Operating
Responsibly
People
Comprehensive
Total
Rewards
Health
&
Well-Being
Workplace
Safety
Engagement
&
Inclusion
Talent
Development
Environmental
Sustainability
Data
&
Frameworks
EMPLOYEE
ENGAGEMENT
&
INCLUSION
(continued)
Supporting
Our
Employees
With
Disabilities
We
are
committed
to
an
inclusive
and
accessible
workplace.
We
are
transparent
about
our
disability
accommodations
process
and
further
support
employees
in
building
accessibility
into
their
daily
work
by
providing
practical
tools,
resources,
workshops,
assistive
technology,
and
information
in
multiple
accessible
formats.
Throughout
fiscal
2025,
we
continued
to
enhance
accessibility
across
our
physical
and
virtual
workplaces,
including
expanding
automated
backstage
doors
at
Hong
Kong
Disneyland
Resort
to
support
cast
mobility.
Engaging
Employees
and
Communities
in
Social
Impact
For
more
than
a
century,
Disney
has
supported
children
and
communities
worldwide—a
legacy
strengthened
by
the
passion
of
our
employees
and
cast
members.
We
encourage
employees
and
cast
members
to
volunteer
and
participate
in
programs
they
care
about.
Since
the
program
began
in
1983,
Disney
VoluntEARS
have
collectively
contributed
14
million
hours
of
service
to
their
communities
worldwide.
†
We
match
eligible
employee
and
cast
member
donations
of
money
and
time
through
our
U.S.
gift
matching
and
international
donation
efforts
as
well
as
through
our
Disney
VoluntEARS
Grants
program.
Supporting
children
and
communities
has
long
been
woven
into
the
fabric
of
our
companyʼs
values.
Disney
works
to
show
up
for
kids
and
families
in
ways
that
only
Disney
can,
bringing
comfort
and
joy
to
those
who
need
it
most
through
initiatives
that
include
wish
granting
and
our
support
of
childrenʼs
hospitals.
For
more
than
45
years,
Disney
has
worked
with
Make-A-Wish
®
to
create
life-changing
experiences
for
children
facing
critical
illnesses—granting
a
wish
every
hour
of
every
day.
Since
the
first
official
wish
was
granted
at
Disneyland
Resort
in
1981,
Disney
has
granted
more
than
170,000
wishes
to
children
worldwide,
making
it
the
worldʼs
largest
wish
granter.
In
addition,
Disney
has
worked
to
help
reimagine
the
patient
experience
in
pediatric
care
settings.
As
of
fiscal
2025,
we
have
reached
more
than
1,700
children's
hospitals
and
pediatric
places
of
care
around
the
world.
We
also
inspire
future
generations
of
storytellers
and
innovators
by
expanding
access
and
opportunity
through
programs
that
empower
youth
to
reach
their
full
potential.
In
fiscal
2025,
Disney
reached
young
people
around
the
world
through
initiatives
that
engaged
children
in
arts
and
storytelling,
technology,
nature,
and
sports.
As
an
example,
one
of
our
signature
programs,
Disney
Musicals
in
Schools,
launched
its
Stage
Connect
online
training
platform,
expanding
program
eligibility
to
every
U.S.
public
elementary
school.
A
pilot
cohort
of
71
elementary
schools
received
free
show
kits,
performance
rights,
and
online
teacher
training
to
produce
a
Disney
KIDS
musical
of
their
choice.
ESPN
launched
its
Take
Back
Sports
initiative
in
fiscal
2025
to
help
parents,
coaches,
and
caregivers
make
youth
sports
more
fun
and
accessible.
In
its
inaugural
year,
the
initiative
reached
more
than
900,000
children
across
the
U.S.
The
initiative
focuses
on
storytelling
on
youth
sports
across
ESPN
platforms,
philanthropy
and
investing
in
youth
sports
organizations,
and
a
national
campaign
aimed
at
parents
and
coaches
to
make
the
youth
sports
system
stronger.
Learn
more:
Accessibility
Topic
Brief
Social
Impact
Inclusion
SPOTLIGHT
Mobilizing
Support
for
Southern
California
Wildfire
Recovery
For
more
than
a
century,
Southern
California
has
been
Disneyʼs
home,
and
thousands
of
our
employees
and
cast
members
in
the
greater
Los
Angeles
area
were
affected
by
the
Southern
California
wildfires.
In
fiscal
2025,
we
mobilized
significant
resources
in
response
to
this
crisis,
reflecting
our
commitment
to
supporting
both
our
people
and
the
communities
where
we
live
and
operate.
Disney
committed
$15
million
to
organizations
delivering
critical
relief,
recovery,
and
rebuilding
services
across
the
region.
This
included
a
$5
million
investment
to
support
the
reimagining
of
Altadenaʼs
Charles
White
Park,
which
will
feature
an
enhanced
playground
infused
with
Disney
magic
and
is
designed
to
bring
joy
and
connection
back
to
local
families.
‡
Disney
VoluntEARS
also
activated
one
of
our
largest
disaster-relief
drives,
donating
more
than
170,000
items
to
help
meet
urgent
needs
and
assembling
Disney-
themed
comfort
kits
for
children
in
shelters.
VoluntEARS
further
supported
recovery
through
community
moments,
including
special
movie
screenings
for
kids
and
families
across
Los
Angeles
and
complimentary
theme
park
tickets
to
Disneyland
Resort
for
first
responders.
Read
more
about
how
we
expanded
support
for
impacted
employees
on
page
18
and
about
how
we
mobilized
resources
on
our
website
.
†
Disney
VoluntEARS
data
include
hours
logged
by
Disney
employees
and
are
rounded.
‡
A
portion
of
the
$15
million
committed
for
relief
and
rebuilding
efforts
after
the
Los
Angeles
wildfires
was
deployed
in
fiscal
2026.
20
Table
of
Contents
Introduction
&
Our
Approach
Operating
Responsibly
People
Comprehensive
Total
Rewards
Health
&
Well-Being
Workplace
Safety
Engagement
&
Inclusion
Talent
Development
Environmental
Sustainability
Data
&
Frameworks
TALENT
DEVELOPMENT
&
CONNECTION
We
create
entertainment
that
appeals
to
a
global
audience,
and
we
believe
having
a
workforce
that
reflects
the
consumers
we
serve
helps
drive
our
business.
Disney
has
long
believed
that
the
rich
variety
of
talents
and
experiences
our
employees
bring
to
their
work
is
good
for
our
business
and
enhances
the
experience
of
our
global
consumers,
audiences,
and
guests.
Expanding
our
pipeline
of
talent
includes
strategic
talent
outreach
and
engagement
efforts,
development
programs,
and
marketing
on
platforms
that
reach
candidates
from
a
wide
range
of
sources.
We
offer
optional
learning
experiences
to
support
leaders
in
identifying,
attracting,
and
engaging
a
multifaceted
talent
pool,
and
we
foster
an
accessible
workplace
to
help
attract
and
support
employees
with
disabilities.
Disney
is
deeply
committed
to
empowering
employees
to
pursue
their
professional
aspirations
at
every
stage
of
their
careers.
Through
a
wide-ranging
portfolio
of
development
opportunities,
we
create
pathways
for
growth
that
meet
employees
and
leaders
where
they
are—
and
help
them
get
to
where
they
want
to
go.
From
skill-building
resources
to
leadership
development
and
cross-functional
experiences,
Disney
invests
in
cultivating
talent
and
enabling
career
journeys
that
inspire
innovation
and
collaboration
across
the
company.
As
an
equal
opportunity
employer,
we
make
all
decisions
regarding
recruiting,
hiring,
promotion,
training,
termination,
and
other
conditions
of
employment
without
unlawful
discrimination
on
the
basis
of
race,
color,
religion,
sex,
national
origin,
age,
sexual
orientation,
gender
identity,
disability,
veteran
status,
or
other
protected
categories.
Growing
Our
Pipeline
of
Talent
We
build
and
nurture
relationships
with
various
institutions
and
nonprofit
organizations
to
strengthen
long-term
talent
pipelines.
Through
these
collaborations,
we
expand
development
opportunities
for
students
and
emerging
professionals
who
reflect
the
range
of
experiences
we
seek
in
our
leadership
and
workforce.
We
offer
internship
and
apprenticeship
programs
and
host
events
in
collaboration
with
organizations
that
cultivate
global
talent
pipelines.
Through
our
Disney
on
the
Yard
initiative,
we
help
build
a
long-term
pipeline
of
talent
from
Historically
Black
Colleges
and
Universities
(HBCUs)
and
expand
access
to
opportunities
in
the
entertainment
industry.
We
continue
to
deepen
these
relationships
through
recruitment
outreach,
development
opportunities,
mentoring,
and
industry
engagement.
Disney
also
develops
and
facilitates
tailored
talent
development
programs
designed
to
provide
access
to
impactful
career
paths
aligned
with
our
core
businesses.
For
example,
Disney
Entertainment
Televisionʼs
Entertainment
Incubator
Program
provides
an
apprentice-style,
rotational
experience
for
individuals
with
a
diversity
of
perspectives,
while
contributing
to
talent
development
across
the
companyʼs
television
brands.
We
also
work
with
and
recognize
studios
and
industry
organizations
that
have
adopted
policies
and
practices
to
broaden
access
and
representation
in
front
of
and
behind
the
camera,
such
as
the
Academy
of
Motion
Picture
Arts
and
Sciences
and
the
British
Film
Institute.
Early
Career
Mentorship
We
offer
early-career
mentorship
and
development
opportunities
that
connect
students
and
emerging
professionals
with
Disney
leaders
and
career
pathways
across
our
businesses.
The
Disney
Mentorship
Program
pairs
college
students
with
Disney
employees,
serving
as
both
an
engagement
platform
and
a
pipeline
for
internships
and
early-career
roles.
Since
its
launch
in
2021,
nearly
1,400
participants
have
completed
the
program,
gaining
one-on-one
guidance,
exposure
to
a
wide
range
of
Disney
careers,
and
support
in
building
workforce-ready
skills.
Employee
Learning
Platforms
We
support
the
growth
and
development
of
our
employees
and
cast
members
through
a
combination
of
online
and
in-person
learning
platforms.
Our
programs
are
designed
to
meet
our
people
where
they
are
in
their
careers
and
support
continuous
development.
Disney
employees
around
the
world
have
access
to
required
training,
such
as
Standards
of
Business
Conduct,
as
well
as
optional
learning
opportunities,
including
programs
for
first-time
leaders.
Offerings
include
self-directed
modules,
instructor-led
courses,
and
in-person
learning.
Digital
learning
and
development
platforms
allow
employees
to
explore
content
tailored
to
their
individual
goals,
interests,
and
needs.
In
fiscal
2025,
we
continued
to
strengthen
our
global
learning
ecosystem
by
launching
peer-to-
peer
social
learning,
providing
approximately
6,000
employees
with
access
to
curated
content
such
as
podcasts,
videos,
power
reads,
and
live
streams
featuring
Disney
experts.
We
also
developed
and
delivered
a
Connecting
With
Energy,
Empathy,
and
Emotional
Intelligence
learning
experience
for
hundreds
of
People
&
Culture
professionals,
increasing
awareness
of
how
emotional
intelligence
can
better
support
our
workforce,
teams,
and
leaders.
21
Investing
in
Our
People
Through
Education
Disney
offers
education
reimbursement
to
salaried
employees
seeking
to
further
their
careers
through
professional
and
technical
education
related
to
their
current
roles.
We
also
support
the
long-term
career
aspirations
of
our
hourly
employees
through
skill-based
and
educational
programs,
including
Disney
Aspire.
Through
Disney
Aspire,
we
contribute
up-front
tuition
costs
and
reimburse
expenses,
such
as
books
and
other
fees,
for
eligible
participating
employees
pursuing
programs
ranging
from
high
school
completion
to
undergraduate
degrees
at
in-network
institutions.
As
of
the
end
of
fiscal
2025,
we
had
9,400
employees
actively
enrolled
through
Disney
Aspire,
building
on
the
5,600
participants
who
have
graduated
from
the
program,
and
the
4,900
participants
who
have
been
promoted
internally.
Leadership
Development
Disneyʼs
portfolio
of
leadership
development
experiences
creates
pathways
for
growth,
enabling
leaders
to
build
new
skills,
take
on
new
challenges,
and
drive
innovation
across
the
company.
In
fiscal
2025,
we
continued
to
offer
our
signature
leadership
development
experiences,
including:
•
Disney
Leadership
Essentials,
our
foundational
experience
for
first-line
leaders,
which
helps
build
core
capabilities
and
cultivates
relationships
that
accelerate
impact.
More
than
2,000
leaders
participated
in
fiscal
2025
•
Personalized
coaching
is
available
to
managers
and
executives,
which
provides
one-on-one
support
to
help
leaders
navigate
complexity,
inspire
teams,
and
drive
innovation.
Since
launching
at
Disney
in
fiscal
2025,
more
than
7,500
leaders
have
participated
We
also
advanced
our
leadership
development
offerings
in
fiscal
2025
by
launching
People
Leadership
Expectations,
a
new
global
framework
that
defines
what
it
means
to
lead
at
Disney
at
every
level.
Built
around
six
foundational
principles
and
10
core
skills,
the
framework
provides
a
consistent
foundation
to
guide
talent
development
planning
across
the
company.
Supporting
Veterans
in
Our
Workforce
We
are
honored
to
support
active
U.S.
military
service
members,
veterans,
and
their
families
in
many
ways
across
our
company.
Through
our
Heroes
Work
Here
initiative,
launched
in
2012,
we
remain
committed
to
employing,
training,
and
providing
transitional
resources
to
U.S.
veterans
and
their
spouses.
In
fiscal
2025,
we
continued
to
help
service
members
transition
to
civilian
careers.
We
offered
corporate
fellowships
that
provided
meaningful
on-the-job
experience
and
helped
veterans
and
military
spouses
build
the
skills
needed
to
successfully
step
into
roles
at
Disney.
For
more
information
on
how
we
support
veterans,
visit
our
Veterans
and
Military
Families
page
and
our
Economic
Impact
page.
Learn
more:
Heroes
Work
Here
Disney
Aspire
Inclusion
Investing
in
Our
People
Table
of
Contents
Introduction
&
Our
Approach
Operating
Responsibly
People
Comprehensive
Total
Rewards
Health
&
Well-Being
Workplace
Safety
Engagement
&
Inclusion
Talent
Development
Environmental
Sustainability
Data
&
Frameworks
TALENT
DEVELOPMENT
&
CONNECTION
(continued)
22
Investing
in
Our
People
Through
Education
Disney
offers
education
reimbursement
to
salaried
employees
seeking
to
further
their
careers
through
professional
and
technical
education
related
to
their
current
roles.
We
also
support
the
long-term
career
aspirations
of
our
hourly
employees
through
skill-based
and
educational
programs,
including
Disney
Aspire.
Through
Disney
Aspire,
we
contribute
up-front
tuition
costs
and
reimburse
expenses,
such
as
books
and
other
fees,
for
eligible
participating
employees
pursuing
programs
ranging
from
high
school
completion
to
undergraduate
degrees
at
in-network
institutions.
As
of
the
end
of
fiscal
2025,
we
had
9,400
employees
actively
enrolled
through
Disney
Aspire,
building
on
the
5,600
participants
who
have
graduated
from
the
program,
and
the
4,900
participants
who
have
been
promoted
internally.
Leadership
Development
Disneyʼs
portfolio
of
leadership
development
experiences
creates
pathways
for
growth,
enabling
leaders
to
build
new
skills,
take
on
new
challenges,
and
drive
innovation
across
the
company.
In
fiscal
2025,
we
continued
to
offer
our
signature
leadership
development
experiences,
including:
•
Disney
Leadership
Essentials,
our
foundational
experience
for
first-line
leaders,
which
helps
build
core
capabilities
and
cultivates
relationships
that
accelerate
impact.
More
than
2,000
leaders
participated
in
fiscal
2025
•
Personalized
coaching
is
available
to
managers
and
executives,
which
provides
one-on-one
support
to
help
leaders
navigate
complexity,
inspire
teams,
and
drive
innovation.
Since
launching
at
Disney
in
fiscal
2025,
more
than
7,500
leaders
have
participated
We
also
advanced
our
leadership
development
offerings
in
fiscal
2025
by
launching
People
Leadership
Expectations,
a
new
global
framework
that
defines
what
it
means
to
lead
at
Disney
at
every
level.
Built
around
six
foundational
principles
and
10
core
skills,
the
framework
provides
a
consistent
foundation
to
guide
talent
development
planning
across
the
company.
Supporting
Veterans
in
Our
Workforce
We
are
honored
to
support
active
U.S.
military
service
members,
veterans,
and
their
families
in
many
ways
across
our
company.
Through
our
Heroes
Work
Here
initiative,
launched
in
2012,
we
remain
committed
to
employing,
training,
and
providing
transitional
resources
to
U.S.
veterans
and
their
spouses.
In
fiscal
2025,
we
continued
to
help
service
members
transition
to
civilian
careers.
We
offered
corporate
fellowships
that
provided
meaningful
on-the-job
experience
and
helped
veterans
and
military
spouses
build
the
skills
needed
to
successfully
step
into
roles
at
Disney.
For
more
information
on
how
we
support
veterans,
visit
our
Veterans
and
Military
Families
page
and
our
Economic
Impact
page.
Learn
more:
Heroes
Work
Here
Disney
Aspire
Inclusion
Investing
in
Our
People
Environmental
Sustainability
Environmental
Sustainability
OVERVIEW
We
take
meaningful
and
measurable
action
to
support
a
healthier
planet
for
people
and
wildlife—a
commitment
we
call
Disney
Planet
Possible.
Our
environmental
sustainability
legacy
goes
back
more
than
100
years
to
our
founding
and
continues
to
guide
how
we
operate
today.
The
environmental
commitments
highlighted
in
this
report
reflect
some
of
the
ways
we
are
building
on
that
legacy
in
communities
where
we
operate
across
the
globe.
Learn
more:
2030
Environmental
Goals:
Strategic
Framework
Environmental
Sustainability
Data
&
Frameworks
TCFD
Index
Table
of
Contents
Introduction
&
Our
Approach
Operating
Responsibly
People
Emissions
Water
Waste
Materials
Sustainable
Design
Nature
&
Biodiversity
Data
&
Frameworks
23
Environmental
Sustainability
Environmental
Sustainability
OVERVIEW
We
take
meaningful
and
measurable
action
to
support
a
healthier
planet
for
people
and
wildlife—a
commitment
we
call
Disney
Planet
Possible.
Our
environmental
sustainability
legacy
goes
back
more
than
100
years
to
our
founding
and
continues
to
guide
how
we
operate
today.
The
environmental
commitments
highlighted
in
this
report
reflect
some
of
the
ways
we
are
building
on
that
legacy
in
communities
where
we
operate
across
the
globe.
Learn
more:
2030
Environmental
Goals:
Strategic
Framework
Environmental
Sustainability
Data
&
Frameworks
TCFD
Index
Emissions
EMISSIONS
TR-CL-110a.2
2030
Emissions
Goals
†
EMISSIONS
FROM
OUR
DIRECT
OPERATIONS
(SCOPE
1
&
2)
•
Reduce
absolute
emissions
by
46.2%
from
2019
baseline
•
Purchase
or
produce
100%
zero-
carbon
electricity
§
•
Achieve
net
zero
emissions
‡
EMISSIONS
FROM
OUR
VALUE
CHAIN
(SCOPE
3)
•
Reduce
Scope
3
emissions
by
27.5%
through
absolute
reductions
in
key
categories
from
2019
baseline
•
Engage
suppliers
and
licensees
to
set
emissions
reduction
targets
by
fiscal
2027
We
follow
global
frameworks
to
measure
Scope
1,
2,
and
3
GHG
emissions:
GHG
Protocol
Data
&
Frameworks
To
learn
more
about
our
goals
and
strategies:
2030
Environmental
Goals:
Strategic
Framework
Greenhouse
gas
(GHG)
emissions
from
our
direct
operations
(Scope
1
&
2)
derive
primarily
from
the
energy
use
at
our
parks,
resorts,
and
major
corporate
campuses,
as
well
as
the
fuel
used
by
our
cruise
ships.