Medtronic named as a leading sustainability company
Strong environmental, social, and governance (ESG) management and performance result in continued inclusion on the Dow Jones Sustainability World Index
DUBLIN, Dec. 14, 2022 /PRNewswire/ -- Medtronic plc (NYSE: MDT), a global leader in healthcare technology, today announced its continued inclusion in the Dow Jones® Sustainability World Index (DJSI) as one of the world's leading companies for sustainability. The DJSI World Index includes global sustainability leaders that are identified by S&P Dow Jones Indices based on their performance in the S&P Global Corporate Sustainability Assessment across a variety of sustainability criteria, including long-term economic performance, environmental stewardship, social responsibility, and corporate governance.
"At Medtronic, we have a tremendous opportunity and responsibility to engineer the extraordinary for patients around the world. ESG is embedded in our DNA and closely intertwined with the Medtronic Mission to maintain good citizenship as a company – and ultimately, alleviate pain, restore health, and extend life," said Geoff Martha, Medtronic chairman and chief executive officer. "I'm proud of the meaningful advances that our global team of 95,000+ is making to create a healthier, brighter future for millions."
Progress on ESG performance targets
In October, Medtronic released its fiscal year (FY) 2022 Integrated Performance Report, which highlights the company's progress on its ESG strategy, including measurable impact across the ESG performance targets announced in FY2021 in its top sustainability focus areas. Highlights from this year, as well as the company's progress toward its ESG targets include:
ESG category | Target | FY22 status toward target |
Access and innovation | Medtronic set a vitality index goal that by FY25, 20% of Medtronic revenue will flow from products and therapies released in the prior 36 months. In addition, the company set a goal to accelerate access to healthcare by serving 85 million patients annually by FY25. | 19% of Medtronic revenue was from products and therapies released in the prior 36 months. In addition, Medtronic served 76.3 million patients in FY22. |
Inclusion, diversity and equity (ID&E) | By FY26, Medtronic will have 45% of global manager-and-above positions held by women and 30% of U.S. manager-and-above positions held by ethnically diverse talent. | Medtronic achieved 42% of global manager-and-above roles held by women, as well as 27% of U.S. manager-and-above positions held by ethnically diverse talent. |
Responsible supply management | By FY26, Medtronic will assess suppliers representing 80% of annual managed spend on sustainability performance. In addition, Medtronic will grow procurement with U.S. diverse-owned suppliers by 5% year-over-year through FY26. | Medtronic assessed suppliers representing 66% of annual managed spend on sustainability performance. In addition, Medtronic grew procurement with U.S. diverse-owned suppliers by 29% compared to the previous year. |
Climate risk and resilience | By FY25, Medtronic targets to reduce greenhouse gas emissions intensity by 50%. | Medtronic reduced emissions intensity by 35%. |
Patient safety and product quality | By FY25, Medtronic will achieve 10% reduction in aggregate product complaint rate for identified product families. | Medtronic achieved 10% reduction.1 |
More information about Medtronic's comprehensive sustainability efforts can be found in the 2022 Integrated Performance Report and by visiting http://www.medtronic.com/ourimpact.
About Medtronic
Bold thinking. Bolder actions. We are Medtronic. Medtronic plc, headquartered in Dublin, Ireland, is the leading global healthcare technology company that boldly attacks the most challenging health problems facing humanity by searching out and finding solutions. Our Mission — to alleviate pain, restore health, and extend life — unites a global team of 90,000+ passionate people across 150 countries. Our technologies and therapies treat 70 health conditions and include cardiac devices, surgical robotics, insulin pumps, surgical tools, patient monitoring systems, and more. Powered by our diverse knowledge, insatiable curiosity, and desire to help all those who need it, we deliver innovative technologies that transform the lives of two people every second, every hour, every day. Expect more from us as we empower insight-driven care, experiences that put people first, and better outcomes for our world. In everything we do, we are engineering the extraordinary. For more information on Medtronic (NYSE:MDT), visit www.Medtronic.com and follow @Medtronic on Twitter and LinkedIn.
Any forward-looking statements are subject to risks and uncertainties such as those described in Medtronic's periodic reports on file with the Securities and Exchange Commission. Actual results may differ materially from anticipated results.
1From 2022 Integrated Performance Report: This target is an aggregate percent reduction from FY20 to FY25. Therefore, annual progress toward this target prior to FY25 does not represent achieving or missing the target.
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SOURCE Medtronic plc
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