The new ambition builds on the company's existing goal of reaching carbon neutrality in its operations by FY30
SOURCE: Medtronic
DESCRIPTION:
DUBLIN, November 8, 2021 /3BL Media/ - Medtronic, a global leader in healthcare technology, today announced its ambition to achieve net zero carbon emissions by fiscal year (FY) 2045 across its operations and value chain (scopes 1, 2, and 3) to accelerate efforts to combat climate change. The announcement comes during the 2021 United Nations Climate Change Conference (COP 26), where world leaders are focusing on collectively cutting greenhouse gas (GHG) emissions and limiting global warming to 1.5 degrees Celsius compared to pre-industrial levels.
As published in Medtronic’s new Decarbonization Roadmap, the FY45 milestone builds on the company’s existing goal of reaching carbon neutrality in its operations by FY30, to encompass GHG emissions reductions across its entire value chain. To achieve its ambition, Medtronic will pursue setting GHG emission reduction targets across scopes 1, 2, and 3 through the Science-Based Targets Initiative (SBTi) – a multi-year initiative that provides companies a clearly defined path to reduce emissions aligned with the Paris Agreement.
“As a global healthcare technology leader, our goal is to transform industry expectations and behavior where health and climate change intersect,” said Geoff Martha, Medtronic chairman and chief executive officer. “Our teams across 150 countries are actively working to protect our planet by reducing our energy use, investing in renewables, and now moving toward net zero emissions throughout our operations, supply chain and logistic partners, by pursuing science-based targets.”
The health care industry is responsible for 4.5% of global carbon emissions. Medtronic is taking a leadership role in collaborative climate action with the National Health Service (NHS) in England and the U.S. National Academy of Medicine (NAM). Medtronic has joined the International Leadership Group for a Net Zero NHS, and Martha recently signed a joint letter with CEOs from Johnson & Johnson, Unilever, Microsoft, and other member companies to support England’s largest health system in its net zero goals. Medtronic is also participating in the NAM Action Collaborative to Decarbonize the U.S. Health Sector, which brings together multi-sector leaders to co-develop and implement a shared action agenda to reduce environmental impacts and strengthen sustainability and climate resilience. Greg Smith, Medtronic EVP of global operations and supply chain, serves as co-lead of the Infrastructure and Supply Chain Working Group within the NAM Action Collaborative.
Medtronic’s new aspiration to reach net zero emissions by FY45 is part of the company’s ongoing environmental, social and governance (ESG) strategy. To learn more about Medtronic progress on ESG priorities in its last fiscal year, download the full 2021 Integrated Performance Report: Engineering Impact.
KEYWORDS: Net Zero, COP26, United Nations Climate Change Conference (COP26), NYSE:MDT, Medtronic
