November 11, 2020
Medtronic plc today announced that it has been recognized as one of the world’s leading companies for sustainability with its inclusion in the Dow Jones Sustainability North America Index (DJSI North America). The DJSI North America 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. This is the 13th consecutive year Medtronic has placed on the prestigious list, considered to be a leading benchmark for corporate sustainability.
“Medtronic has never been more focused on our purpose or clearer on our role as a responsible corporate citizen,” said Medtronic CEO Geoff Martha. “As stewards of human health and well-being, and with an aspiration to be the undisputed leader in healthcare technology, we are committed to prioritizing sustainability to create a better world. We will continue to invest in the environmental, social, and corporate governance (ESG) efforts that are most aligned to our Mission, while also driving long term growth and profitability.”
Medtronic’s sustainability strategy focuses on balancing long-term growth and profitability with creating value by working responsibly in all facets where its business intersects with society. Medtronic’s sustainability performance areas identified as most material to long-term success include, innovation and access to healthcare, product quality and patient safety, inclusion and diversity, ethical business practices, responsible supply management, employee engagement and development, human rights, and environmental stewardship. The company’s sustainability priorities align to various tenets of the Medtronic Mission and frame Medtronic’s contributions to the United Nations Sustainability Goals.
One example of Medtronic’s commitment to ESG factors is its recently announced goal to be carbon neutral in its operations by fiscal year 2030, with an aggressive target to reduce greenhouse gas emissions by 50% by fiscal year 2025 and increasing use of renewable and alternative energy by partnering in virtual power purchase agreements (VPPAs) and investing in renewable energy credits (RECs) and carbon offsets.
Another example is the company’s ongoing focus on inclusion, diversity and equity. The company reported 100% gender pay equity in many countries including the U.S. and 99% gender pay equity for employees globally in fiscal year 2020. In January, the company was one of three recipients of the prestigious 2020 Catalyst Award in recognition of its initiatives for fostering a workplace in which women can advance. Medtronic has also committed to several new actions that will advance its global inclusion, diversity, and equity work for employees and the communities where it operates, including linking inclusion and diversity goals with compensation and advancement opportunities for all people managers in fiscal year 2022.
The DJSI ranking adds to the recognition Medtronic received earlier this year through its continued inclusion 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. More information can be found at https://www.ftse.com/products/indices/FTSE4Good.