Strong ESG practices result in inclusion on the Dow Jones Sustainability World Index
DUBLIN, Nov. 15, 2021 /PRNewswire/ -- Medtronic plc (NYSE:MDT), a global leader in healthcare technology, today announced its inclusion in the Dow Jones® Sustainability World Index (DJSI World) as one of the world's leading companies for sustainability. 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.
ESG performance targets
This fiscal year (FY), Medtronic has 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.
Last month, 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. A replay of the event can be viewed on the company's website.
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. More information can be found at https://www.ftse.com/products/indices/FTSE4Good.
More information about Medtronic's comprehensive sustainability efforts can be found in the 2021 Integrated Performance Report and by visiting https://www.medtronic.com/ourimpact.
About the Dow Jones Sustainability Indices
The Dow Jones Sustainability Indices are a family of best-in-class benchmarks for investors who have recognized that sustainable business practices are critical to generating long-term shareholder value and who wish to reflect their sustainability convictions in their investment portfolios. The family was launched in 1999 as the first global sustainability benchmark and tracks the stock performance of the world's leading companies in terms of economic, environmental and social criteria.
Created jointly by S&P Dow Jones Indices and SAM, the DJSI combine the experience of an established index provider with the expertise of a specialist in Sustainable Investing to select the most sustainable companies from across 61 industries. More information about the DJSI can be found at https://www.spglobal.com/esg/performance/indices/djsi-index-family.
Bold thinking. Bolder actions. We are Medtronic. Medtronic plc, headquartered in Dublin, Ireland, is the leading global healthcare technology company that boldly attacks the most challenging health problems facing humanity by searching out and finding solutions. Our Mission — to alleviate pain, restore health, and extend life — unites a global team of 90,000+ passionate people across 150 countries. Our technologies and therapies treat 70 health conditions and include cardiac devices, surgical robotics, insulin pumps, surgical tools, patient monitoring systems, and more. Powered by our diverse knowledge, insatiable curiosity, and desire to help all those who need it, we deliver innovative technologies that transform the lives of two people every second, every hour, every day. Expect more from us as we empower insight-driven care, experiences that put people first, and better outcomes for our world. In everything we do, we are engineering the extraordinary. For more information on Medtronic (NYSE:MDT), visit www.Medtronic.com and follow @Medtronic on Twitter and LinkedIn.
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Any forward-looking statements are subject to risks and uncertainties such as those described in Medtronic's periodic reports on file with the Securities and Exchange Commission. Actual results may differ materially from anticipated results.
SOURCE Medtronic plc