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Medtronic 2020 Integrated Performance Report Shares Goal of Carbon Neutrality by FY30, Achievement of 100% Gender Pay Equity in the U.S., and Progress on COVID-19 Response
Report Outlines Environmental, Social, and Governance (ESG) Topics Critical to the Company and Its Stakeholders
The report shares the company's approach to its most significant environmental, social, and governance (ESG) issues across four global corporate citizenship and sustainability pillars: Adding Value to Society, Promoting Environmental Stewardship, Supporting a Global Workforce, and Working Responsibly. Medtronic details FY20 progress against each of these pillars, addressing key topics such as setting a goal to be carbon neutral in its operations by FY30; driving progress in inclusion, diversity and equity, with 100% gender pay equity achieved in the
Medtronic remains committed to reducing its impact on the environment and has announced a goal to be carbon neutral in its operations by FY30. To achieve carbon neutrality – and ultimately cut the company's operational carbon footprint by 100% – Medtronic has set aggressive new targets to reduce greenhouse gas emissions by 50% by FY25 and will increase use of renewable and alternative energy by partnering in virtual power purchase agreements (VPPA's) and investing in renewable energy credits (RECs) and carbon offsets. Achieving carbon neutrality means Medtronic is aiming for net zero Scope 1 and Scope 2 carbon emissions associated with our global operations, which include manufacturing sites and other facilities across the 150 countries where the company operates. Over the next decade, the company will reduce its carbon emissions by an amount that is approximately equal to how much would be generated by 80,000
"We have a responsibility to take immediate action to create a sustainable future for our business, our communities, and our planet," said
In FY20, the company achieved all its FY20 environmental performance targets, including a 36% reduction in greenhouse gas emissions compared to a FY13 baseline. In addition, the company demonstrated its commitment to addressing climate change through expanded reporting that meets the guidelines of the
Inclusion, Diversity and Equity
As part of its ongoing focus on equity and diversity in FY20, Medtronic achieved 100% gender pay equity in many countries including the
"We believe in equal pay for equal work and regularly assess our global pay practices to close remaining gender and ethnic pay gaps," said
In FY21 and into FY22, Medtronic has committed to several actions that will advance its global inclusion, diversity, and equity work for employees and the communities where it operates. The company will establish a new governance framework for inclusion and diversity where executive leadership is directly responsible for its success. Medtronic will create standards to measure the company's long-term progress, which will be reported and overseen by the Medtronic Board. These standards will incorporate representation goals tailored to each region and will be linked to compensation and advancement opportunities for all people managers. To improve the ability of all employees to contribute to inclusion, diversity, and equity, Medtronic will expand training to address unconscious bias and make ally-ship the expectation for all. The company will continue to report progress externally on new and existing inclusion, diversity, and equity actions, performance, and policies.
"We aspire to have a workforce that is as diverse as the communities in which we live and serve, where we have opportunity parity, a culture of belonging, and measurable impact in our communities," said
In response to the COVID-19 pandemic, the company took swift action in the last two quarters of FY20 to safeguard employees and their families, support patients and healthcare professionals, and invest resources to help partners around the world strengthen their own response to the global crisis. Key actions in FY20 included:
- Increased internal ventilator production five-fold in a matter of just a few months, from 200 a week pre-pandemic to over a 1,000 a week in June.
- Published open-source design access for its portable, compact ventilator, resulting in 200,000+ downloads of the blueprint in the first few weeks.
- Formed new collaborations with Intel Corporation, Foxconn,
SpaceX, and others to meet the critical global need for ventilators.
- Increased focus on virtual and remote innovation to reduce exposure to the virus, including development of new remote management capabilities for the Puritan Bennett™ 980 (PB980) ventilator, which enables clinicians to adjust ventilator settings away from the patient.
$18.5 millionto COVID-19 relief efforts in partnership with the Medtronic Foundation– part of a larger pledge of more than $36 million.
- Implemented employee support programs such as paid emergency leave for up to 30 days.
"I'm proud of how quickly Medtronic mobilized to map out a course of action to help global healthcare professionals and partners continue to treat patients and also protect themselves in the face of COVID-19," said Martha. "Guided by our Mission, we operated with a high sense of urgency and conviction to accelerate innovation and unlock the power of our lifesaving technologies to help patients globally. With clear and decisive plans, and powerful collaboration beyond our walls, work that could have taken months or years instead took days and weeks."
The 2020 Medtronic Integrated Performance report was prepared in accordance with the core guidelines of the internationally recognized Global Reporting Initiative (GRI) sustainability reporting standards. The content is also informed by guidelines set forth by the
For more information on Citizenship at Medtronic, visit Medtronic.com/citizenship.
Any forward-looking statements are subject to risks and uncertainties such as those described in Medtronic's periodic reports on file with the
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