Medtronic plc
Climate Impact & Sustainability Data (2022-04-30 to 2023-04-28)
Reporting Period: 2022-04-30 to 2023-04-28
Environmental Metrics
Total Carbon Emissions:256,800 MTCO2e
Renewable Energy Share:46%
Total Energy Consumption:896,000 MWh
Water Consumption:2,050,000 m3
Waste Generated:30,000 tons
ESG Focus Areas
- Innovation and healthcare access
- Patient safety and product quality
- Inclusion, diversity, and equity (ID&E)
Environmental Achievements
- 35% reduction in operational greenhouse gas emissions intensity compared to FY20 baseline
- 17% reduction in waste intensity compared to FY20 baseline
- 6% reduction in energy intensity compared to FY20 baseline
- 31% of energy sourced from renewable and alternative sources
- 9% reduction in water usage intensity compared to FY20 baseline
- 5.8 million products taken back, diverting 202 metric tons of waste from landfill
Social Achievements
- 74 million+ patients served
- Nearly $110 million in combined philanthropic investment by Medtronic and the Medtronic Foundation
- $66 million invested in healthcare capacity building, reaching 493,000+ medical professionals
- 43% of global managers are women
- 28% of U.S. managers are ethnically diverse
- 31% increase in U.S. supplier spend with small and diverse-owned companies compared to FY22
- 100% gender and ethnically diverse pay equity achieved in the United States for the third consecutive year
Governance Achievements
- 36% of board members are women
- 27% of board members are from ethnically diverse backgrounds
- 99% of U.S. employees are certified as having read and understood our Code of Conduct
Climate Goals & Targets
Long-term Goals:
- Achieve net-zero emissions across Scopes 1, 2, and 3 by FY45
Medium-term Goals:
- Achieve carbon neutrality in our operations by FY30
Short-term Goals:
- Reduce greenhouse gas emissions intensity by 50% by FY25
- Reduce energy intensity by 20% by FY25
- Source 50% of energy from renewable and alternative sources by FY25
- Reduce water usage intensity by 15% by FY25
- Reduce waste intensity by 15% by FY25
- Reduce packaging waste by 25% for four targeted high-volume product families by FY25
Environmental Challenges
- Patient safety and product quality issues
- Climate risk and resilience
- Business impact of unforeseen ethical, social, and environmental regulations
- Failure to meet stakeholder or regulatory expectations of ESG performance
Mitigation Strategies
- Put Patients First initiative
- Near-term science-based emissions reduction targets and long-term net-zero targets
- Monitoring relevant regulations in global markets
- Actively soliciting input from stakeholders
Supply Chain Management
Supplier Audits: 15 new and 4 follow-up audits in FY23
Responsible Procurement
- Global Supplier Standards
- Global Human Rights and Labor Standards Policy
- Global Anti-Human Trafficking and Forced Labor Policy
- Code of Conduct
Climate-Related Risks & Opportunities
Physical Risks
- Extreme weather events
- Increased temperatures/heat stress
- Drought
- Water stress
Transition Risks
- Rapid changes in customer and investor preferences
- Policy and regulations around carbon emissions and climate disclosure
- Increased pricing of GHG emissions
Opportunities
- Energy procurement
- Climate adaptation and resilience
- Sustainable product development, manufacturing, and distribution
Reporting Standards
Frameworks Used: GRI, SASB, TCFD, WEF Stakeholder Capitalism Metrics
Certifications: ISO 14001, ISO 45001
Third-party Assurance: ERM CVS
UN Sustainable Development Goals
- SDG 3
- SDG 4
- SDG 5
- SDG 8
- SDG 9
- SDG 13
Awards & Recognition
- #2 on DiversityInc’s 2023 Top 50 Companies for Diversity
- Brandon Hall Group Excellence Gold Award