Medtronic announced its inclusion in the Dow Jones® Sustainability World Index (DJSI World) as one of the world's leading companies for sustainability.
Increasing positive impact
The DJSI World Index includes a select group of companies based on their performance across a variety of sustainability criteria, including economic performance, environmental stewardship, social responsibility, and corporate governance.
"As a mission-driven leader in healthcare technology, we see extraordinary possibilities to further increase our positive impact," said Geoff Martha, Medtronic chairman and chief executive officer. "Our environmental, social, and governance (ESG) efforts drive measurable impact on issues that accelerate access to healthcare technology, advance inclusion, diversity, and equity, and protect our planet."
"We congratulate Medtronic for being included in the Dow Jones Sustainability Index (DJSI) for DJSI World and DJSI North America. A DJSI distinction is a reflection of being a sustainability leader in your industry. The record number of companies participating in the 2021 S&P Global Corporate Sustainability Assessment is testament to the growing movement for ESG disclosure and transparency," said Manjit Jus, global head of ESG Research, S&P Global.
Working on ESG performance targets
Medtronic unveiled new ESG performance targets across its top sustainability focus areas:
- 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 has set a goal to accelerate access to healthcare by serving 85 million patients annually by FY25.
- Inclusion, diversity and equity (ID&E): Medtronic aims to have 45% of global management positions held by women and 30% of U.S. management positions held by ethnically diverse talent by FY26.
- Product stewardship: By FY25, Medtronic targets to reduce packaging waste for targeted high-volume products by 25%, compared to a FY21 baseline. Additionally, by FY27, it aims to minimize the impact of Instructions for Use (IFUs) through a 35% paper reduction, compared to a FY21 baseline.
- Net zero carbon emissions: Last week, Medtronic announced its ambition to achieve net zero carbon emissions within its operations and across its value chain (scopes 1, 2, & 3) by FY45, building upon its existing goal of reaching carbon neutrality in its operations by FY30.
- Patient safety and product quality: Medtronic will enhance product quality and patient experience by achieving a 10% reduction in aggregate product complaint rate for identified product families by FY25, compared to FY20.
A strong sustainability strategy and Mission
Medtronic hosted its inaugural ESG investor briefing, where company leaders highlighted how the Medtronic sustainability strategy is strongly tied to the company's Mission and supports its long-term growth objectives.
In addition to the Dow Jones Sustainability Index, Medtronic also continues to be included in the FTSE4Good Index Series. Companies in the FTSE4Good Index Series have met stringent environmental, social and governance criteria, and are positioned to capitalize on the benefits of responsible business practices.
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