At Medtronic we recognize the undeniable relationship between human health and the environment. Global well-being depends on the ability of governments, companies, organizations and people everywhere to build sustainable and resilient models to address effectively documented climate change1.
For this reason, environmental protection is a core corporate citizenship value at Medtronic, and one that compels us to proactively address the impacts, risks and opportunities associated with climate change.
Climate change has the potential to bring about a range of physical and socio-economic impacts that can affect Medtronic's operations and stakeholders. These impacts can vary in scope and severity, but they underscore the importance of integrating climate resilience and sustainability into the company's strategies. Potential impacts relevant to Medtronic include:
Medtronic aims to work with its stakeholders to proactively assess these potential impacts, develop strategies to mitigate risks, and identify opportunities that arise from the climate change challenges. By incorporating climate resilience, sustainable practices, and innovative solutions into our operations, Medtronic can navigate these challenges while contributing to a more sustainable future for healthcare and society as a whole.
Physical climate risks — such as extreme weather conditions and events of increasing frequencies, intensity, and/or severity — may damage property and infrastructure, disrupt global supply chains, exacerbate infectious and respiratory illness, and threaten food and water security, which in turn impacts health and economic stability.
As global effort to address climate change go forward, we recognize the need to adapt quickly to realized events that affect our operations, changing global regulations that affect our business, and stakeholder expectations that influence our reputation.
Therefore, we continually strive to mitigate our negative impact on the environment and continuously monitor the impacts of climate change on our business, our stakeholders, and society. Our EHS Policy sets forth our commitment to reduce greenhouse gas (GHG) emissions, and conserve resources, like energy and water. In addition, our Environmental Sustainability Standard requires Medtronic to develop environmental goals, which we have done since in 2007, across short, medium, and long-term time horizons. Progress to our environmental goals can be found in our Sustainability Report.
In monitoring and addressing the impacts of climate change, we can take advantage of the following opportunities:
Medtronic is committed to conducting business in a safe and sustainable manner and to collaborating with industry peers, governments, employees, customers, suppliers and communities to achieve results that are environmentally sound, economically viable, societally pragmatic, and technologically feasible. We support corporate transparency of climate performance through our annual Sustainability Report, Taskforce for Climate-related Disclosures (TCFD), and CDP submission.
Intergovernmental Panel on Climate Change Fifth Assessment Report; U.S. Department of Defense Report on National Security Implications of Climate-Related Risks and a Changing Climate