Medtronic joins World Economic Forum’s International Business Council pledge to adopt 'Stakeholder Capitalism Metrics'


Medtronic pledges adoption of universal ESG reporting metrics

Medtronic pledges adoption of universal ESG reporting metrics

 January 26, 2021

Medtronic has pledged to adopt universal environmental, social and governance (ESG) reporting metrics.

They believe that the Stakeholder Capitalism Metrics developed by the World Economic Forum’s International Business Council (IBC) provides a way to connect commitment to action.

Through signing the pledge, companies agree to adopt a set of universal, comparable disclosures focused on ESG factors that help to measure and drive meaningful progress towards the U.N. Sustainable Development Goals (SDGs).

Raising the bar for good corporate citizenship

Medtronic joins 60 of the world’s largest organizations in emphasizing the importance of transparency in reporting on ESG progress — a key metric among the broader stakeholder groups including investors, customers, and employees.

“Today more than ever, people want to be associated with companies that are inclusive, forward looking, and try to make the world a better place,” said Medtronic Chairman & CEO Geoff Martha. “Our shared future depends on companies like ours to lead the way — innovating boldly and raising the bar for what it means to be a good corporate citizen.”

Commitment to advancing stakeholder capitalism

“Stakeholder capitalism” is the notion that companies have the capacity and responsibility to create and sustain economic value for a broader stakeholder base, not just financial investors. The IBC’s universal metrics grew out of the World Economic Forum’s 50-year commitment to advancing stakeholder capitalism on a global scale. 

Developed in consultation with four of the world’s largest accounting firms, the metrics are based on existing global standards already utilized by many companies, including Medtronic. The Council released a report organizing the metrics around four principles: governance, planet, people, and prosperity.

Transparent reporting on ESG performance

Medtronic routinely reports on its ESG performance. Since 2008, the company has published an annual Integrated Performance Report, informing stakeholders about sustainability progress and work done across the organization to deliver on the company's Mission.

Highlights from the 2020 Medtronic Integrated Performance Report include: 

Connecting commitment to action

Medtronic released its report: The People Behind Our Mission: 2020 Global Inclusion, Diversity, and Equity Report providing detail about how the company is building an inclusive and equitable workplace for all.

Like these two reports, the Stakeholder Capitalism Metrics pledge provides a further way for Medtronic to show the importance it places on corporate responsibility and reporting transparency.

Geoff Martha notes, “We are proud to join other leading companies in adopting a set of universal stakeholder capitalism metrics — advancing our promise to employees, partners and customers to connect commitment to action.”


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