Medtronic Signs Commitment to Science Based Targets Initiative (SBTi)

March 15, 2023 /3BL Media/ - At Medtronic, we believe that people can only live their healthiest lives on a healthy planet. That is why Medtronic is joining 4,600+ organizations worldwide who are leading the challenge to become carbon neutral by setting ambitious emissions reduction targets grounded in climate science through the Science Based Targets initiative (SBTi).

The SBTi is a partnership between CDP, the United Nations Global Compact, World Resources Institute (WRI), and the World Wildlife Fund for Nature (WWF). The SBTi drives ambitious climate initiatives in the private sector by enabling organizations to set science-based emissions reduction targets. Science-based targets show companies and financial institutions how much and how quickly they need to reduce their greenhouse gas (GHG) emissions to create a healthier climate.

“As a global healthcare technology leader, we understand that health is directly tied to the environment. By reducing our carbon footprint and being advocates for change in our industry, we are investing in the health of our company, our people, and our planet,” said Greg Smith, Executive Vice President, Supply Chain and Operations at Medtronic. “Signing a commitment to science-based targets is an important step in our journey toward decarbonization and ensures we are holding ourselves accountable.”

The Science Based Targets initiative (SBTi):

• Is the lead partner of the Business Ambition for 1.5°C campaign — an urgent call to action from a global coalition of UN agencies and business and industry leaders, mobilizing companies to set net-zero science-based targets consistent with limiting global temperature rise to 1.5°C.
• Defines and promotes best practices in emissions reductions and net-zero targets in line with climate science.
• Provides technical assistance and expert resources to companies who set science-based targets in line with the latest climate science.
• Brings together a team of experts to provide companies support with independent assessments and validation of targets.

As a mission-driven company, Medtronic began our journey toward decarbonization years ago and shared our plan to reach our carbon neutral ambitions in the Medtronic Decarbonization Roadmap, laying out our plan for how we will:

• Achieve operational carbon neutrality by FY30, through the replacement of fossil fuels as energy with energy efficiency, renewables, and virtual green power purchase agreements.
• Achieve net zero emissions across scopes 1, 2, and 3 by FY45, starting with supply chain and logistics-based reduction initiatives.

With this formal commitment to SBTi, Medtronic recognizes the crucial role that the business community can play in minimizing the risk that climate change poses. Medtronic confirms our commitment to setting near-term science-based emissions reduction targets and long-term, net-zero targets in line with the SBTi criteria and recommendations. The targets will be submitted and validated by SBTi within 24 months.

For more information, contact Riley Schweiger at riley.schweiger@medtronic.com or visit the environmental sustainability section (p.30) of our latest Integrated Performance Report.