Issued by Medtronic
In its 2021 ESG report, Medtronic announces new performance targets for top material issues; 100% ethnically diverse pay equity and gender pay equity in the U.S.; and progress toward carbon neutrality in operations by FY30.
Medtronic, a global leader in healthcare technology, was founded with a mission designed to serve patients, healthcare partners, its employees, and its communities. The company delivers innovative healthcare technology, products, and services that improve the lives of two people every second. With 90,000+ employees in more than 150 countries, Medtronic is committed to further increasing its positive impact on some of society’s biggest challenges.
With a focus on better outcomes for the world, Medtronic shares performance in key environmental, social, and governance (ESG) areas in the release of its fiscal year (FY) 2021 Integrated Performance Report: Engineering Impact.
Medtronic focuses its ESG approach on driving demonstrable change on critical global issues, including accelerating access to healthcare technology, advancing inclusion, diversity, and equity (ID&E), and protecting the planet. The report details the company’s impact, shares new ESG targets, and reports on COVID-19 relief efforts.
Accelerating access to healthcare technology
Medtronic engineers breakthrough healthcare technologies, while simultaneously developing new ways for the world to access them. In FY21:
In FY21, Medtronic launched new health equity strategies to reduce inequities in the utilization of healthcare technology by Hispanic Latino and Black communities, including partnerships with the American Diabetes Association and T1D Exchange to increase access to diabetes therapies. The Medtronic Foundation committed $16 million to partnerships with U.S. nonprofits focused on health and STEM education to address racial disparities and advance social justice in Black communities in the United States.
Advancing inclusion, diversity, and equity
Medtronic is committed to ID&E, creating a culture with zero barriers to opportunity, where all employees belong, are respected, and feel valued for who they are and the life experiences they contribute. To create accountability, every Medtronic employee must set ID&E goals that are assessed during annual performance reviews. Beginning in FY22, ID&E performance will also be directly tied to the annual incentive plans for executive leadership. In FY21:
Protecting the planet
A healthier world starts with protecting the planet. Last year Medtronic set a goal to become carbon neutral in its operations by FY30. To further address the climate crisis, in FY21, Medtronic:
Medtronic continued its COVID-19 support for employees, patients, healthcare professionals, and global communities and helped meet the staggering demand for ventilators, remote patient monitoring technologies, and more. Since the start of the pandemic, Medtronic and the Medtronic Foundation together contributed $52.9 million for COVID-19 relief, including $26.6 million in product donations. Through these efforts, Medtronic Foundation partners supported 34,000 global health workers and 289,000 patients.
Geoff Martha, Chairman and CEO of Medtronic summed up the company’s plans. “We’re resetting our expectations of what innovation and technology can achieve to improve human welfare. And even as we raise the standard of care and accelerate health equity by expanding access for millions of people around the world, our motivation to help even one person live a fuller, healthier life will never end.”
Medtronic will host its first ESG Investor briefing with presentations from company leaders, including CEO Geoff Martha and CFO Karen Parkhill, on Oct. 13, 2021 starting at 12:30 pm E.T. Interested parties can access the webcast at InvestorRelations.Medtronic.com.
Read Medtronic’s full ESG Report here.
Riley Schweiger, Media Relations
Bold thinking. Bolder actions. We are Medtronic.
We lead global healthcare technology and boldly attack 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. 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.