The Medtronic 2019 Integrated Performance Report Shares Progress on Pay Equity, Diversity in Management Roles, Access to Healthcare, Environmental Performance, UN Sustainable Development Goals, and More
Submitted by Medtronic
Medtronic plc (NYSE:MDT) today released its fiscal year 2019 (FY19) Integrated Performance Report: The Power of Purpose [view report here].
The report focuses on Medtronic global corporate citizenship efforts, which include the economic, social, and environmental areas where the company can make the greatest impact. It details FY19 progress against four pillars of Medtronic global corporate citizenship and sustainability: Adding Value to Society, Promoting Environmental Stewardship, Supporting a Global Workforce, and Working Responsibly. Within the report, Medtronic addresses key issues critical to the company and its stakeholders, such as access to care, product stewardship, ethics in sales and marketing, responsible supply management, and product quality.
“Our foremost priority is to contribute to human welfare,” said Omar Ishrak, Medtronic chairman and chief executive officer. “Today we are executing on the strongest product pipeline in Medtronic’s history, bringing to market a long list of technology innovations that will, in the words of our Mission, alleviate pain, restore health, and extend life for millions of people around the world.”
The report also highlights the company’s commitment to recognizing the personal worth of all employees, including providing equal pay for equal work. In FY19, Medtronic achieved 99% overall for gender pay equity — and 100% in several countries, including the United States. A further U.S. ethnic diversity analysis found that for every $1.00 Caucasian employees earned, ethnically diverse employees in equivalent roles earned $0.99.
“While we are pleased with these results, I assure you that our journey won’t stop until we ensure and sustain 100% pay equity for all,” said Ishrak.
In FY19, Medtronic reported ethnically diverse talent held 22% of leadership positions in the United States — surpassing the company’s 2020 target of 20% or more. In addition, 38% of all global leadership positions were held by women, on track to meet the company’s 2020 target of 40% or more, putting us closer to our ultimate aspiration of 50%. Medtronic’s continued commitment to inclusion and diversity is further described through the company’s inaugural Global Inclusion, Diversity, and Equity Report [view report here].
Other highlights from the 2019 Integrated Performance Report include:
75 million+ lives improved through Medtronic technologies and services
$2.3 billion invested in research and development
275+ ongoing clinical studies
$142 million invested in training for 80,000+ medical professionals
$1 billion+ in philanthropic contributions to date
38% reduction in greenhouse gas emissions since 2013
35% of total energy needs sourced from renewables
$4.3 million in operational cost savings from energy conservation projects
$77.5 million spent on employee learning and development
The report was prepared in accordance with the Global Reporting Initiative Standard Core guidelines and the Sustainability Accounting Standards Board disclosure standard for the Medical Equipment & Supplies industry. For the first time, Medtronic also shares its contribution to the UN Sustainable Development Goals. The report, corresponding Standards Supplement, and report executive summary are available for download here.
For more information, visit Medtronic.com/citizenship.
Medtronic plc (www.medtronic.com), headquartered in Dublin, Ireland, is among the world's largest medical technology, services and solutions companies — alleviating pain, restoring health and extending life for millions of people around the world. Medtronic employs more than 90,000 people worldwide, serving physicians, hospitals and patients in more than 150 countries. The company is focused on collaborating with stakeholders around the world to take healthcare Further, Together.
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.
Medtronic is the world leader in medical technology providing lifelong solutions for people with chronic disease. We offer products, therapies and services that enhance or extend the lives of millions of people. Each year, 5 million patients benefit from Medtronic's technology, used to treat conditions such as diabetes, heart disease, neurological disorders, and vascular illnesses.
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