Baxter Launches New 2030 Corporate Responsibility Commitment to Advance Environmental, Social and Governance Priorities

Rhea-AI Summary

Baxter International Inc. (NYSE:BAX) announced the launch of its 2020 Corporate Responsibility Report, detailing achievements from its 2015-2020 goals and introducing a new set of commitments for 2030. The report highlights significant progress in environmental, social, and governance (ESG) performance, including a 13.6% reduction in greenhouse gas emissions and over 375 recycling partnerships. Baxter plans to double patient outreach in underserved markets, achieve carbon neutrality by 2040, and invest $275 million in communities. The company emphasizes transparency in sustainability reporting and aligns with the UN Sustainable Development Goals.

Positive

• Achieved a 13.6% reduction in greenhouse gas emissions compared to 2015.
• Established over 375 PVC recovery and recycling partnerships globally.
• Launched six new products that reduced material usage by at least 15%.
• Plans to double patient outreach through peritoneal dialysis.
• Commits to carbon neutrality for direct operations by 2040.
• Investing $275 million in underserved communities.

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• None.

Baxter International Inc. (NYSE:BAX), a leading global medical products company, today released its 2020 Corporate Responsibility Report. This year’s report details final achievement towards Baxter's 2015-2020 set of corporate responsibility priorities and goals and launches the company’s new 2030 corporate responsibility commitment to advance environmental, social and governance (ESG) performance over the next decade.

“The global challenges presented in 2020 inspired a unique and powerful year in Baxter’s ongoing journey of corporate citizenship,” said José (Joe) E. Almeida, chairman and chief executive officer. With patients at the forefront of all that we do, our colleagues worldwide embraced Baxter’s mission to save and sustain lives in meaningful new ways – from responding to urgent patient, customer and community needs amid a raging pandemic to initiating action in support of racial justice. We also continued our ongoing pursuit of creating a best place to work, prioritizing our employees’ health and safety and initiating new efforts that underscore Baxter’s unwavering commitment to inclusion and diversity. Today, we are proud to launch a new commitment for 2030 that reflects our multifaceted approach to addressing the ESG topics most important to Baxter and our stakeholders.”

2020 Corporate Responsibility Accomplishments

Between 2015 and 2020, Baxter’s corporate responsibility priorities and goals focused on driving the sustainability of products and operations, improving access to care for the underserved and fostering a best place to work. The company made progress across each priority area, with noteworthy accomplishments including:

• Establishing more than 375 PVC recovery and recycling partnerships with hospitals and clinics across Australia, New Zealand, Guatemala and Colombia, exceeding the company's goal.
• Launching six new therapies/products that reduced materials use by at least 15% versus those currently on market, exceeding the company’s goal, and achieving a 19% decrease in product complaints compared with 2015, also exceeding the goal.
• Reducing absolute greenhouse gas (GHG) emissions by 13.6% compared with 2015, exceeding the company’s goal.
• Transforming the Baxter International Foundation’s giving to focus on long-term strategic investments and establishing its first six Signature Partnerships to drive increased healthcare access around the world. In 2020, new partnerships included Save the Children to support the organization’s global COVID-19 relief efforts and the American Diabetes Association to address health disparities for people with diabetes in Chicago’s underserved Black communities.

Baxter also continued to proactively evaluate its reporting approach to align with leading disclosure frameworks, sustainability standards and reporting organizations, including the Global Reporting Initiative (GRI). In fact, Baxter was one of the first companies to pilot the GRI Sustainability Reporting Guidelines in 1999. And in 2020, Baxter published its first Sustainability Accounting Standards Board (SASB) Index in line with the Medical Equipment & Supplies Sustainability Accounting Standard. Moving forward, Baxter intends to include its SASB Indices in its annual Corporate Responsibility Report, beginning with the 2020 report launched today.

Introducing Baxter’s 2030 Corporate Responsibility Commitment

Rooted in Baxter’s longstanding focus on corporate responsibility as an integral component of its business strategy, a new set of 10 goals support an overarching commitment to “Empower our Patients,” “Protect our Planet” and “Champion our People and Communities” – the three pillars that will drive the company’s ESG efforts over the next decade. Bolstered by Baxter’s approach to good governance – which prioritizes ethics and compliance, human rights, inclusion and diversity and privacy and data protection – highlights of the new goal set include:

• Doubling the number of patients reached in underserved markets through Baxter’s peritoneal dialysis portfolio.
• Committing to achieve carbon neutrality for direct operations by 2040, in addition to GHG emission goals for 2030.
• For the first time externally, disclosing measurable goals to increase the representation of women (globally) and ethnic minorities (in the U.S.) in leadership roles.
• Investing $275 million in underserved communities around the world through strategic philanthropy.

With its new set of corporate responsibility goals, Baxter is also proud to support the United Nations Sustainable Development Goals (UN SDGs) and 2030 Agenda. While the company’s efforts align with many of the UN SDGs, Baxter’s initial focus areas will most directly address Goal 3: Good Health and Well-Being; Goal 6: Clean Water and Sanitation and Goal 12: Responsible Consumption and Production.

Baxter has reported on its environmental performance for nearly 30 years, demonstrating the company’s established commitment to transparent reporting. Baxter has also long been recognized for its corporate responsibility contributions and will continue to advance efforts that demonstrate its leadership as an ethical company, an employer of choice, a company that works to nurture an inclusive and diverse workplace, and a socially and environmentally responsible business. Recent recognitions include 3BL Media’s 100 Best Corporate Citizens, JUST Capital’s America’s Most JUST Companies and Newsweek Magazine’s America’s Most Responsible Companies. The company was also included in Forbes’ America’s Best Employers for Diversity and Best Employers for Women; Seramount’s (formerly Working Mother Media) 100 Best Companies and Best Companies for Dads; Seramount’s (formerly Working Mother Media's National Association for Female Executives) Top Companies for Executive Women; the Seramount Global Inclusion Index (for 11 countries); and the Seramount Inclusion Index as a Top 10% Inclusion Index Company. Baxter has consistently received a top score of 100% on the Human Rights Campaign Foundation’s Corporate Equality Index (CEI) for LGBTQ Equality and was newly recognized in the top 10% of all companies appearing on the Disability Equality Index, designating Baxter as a Best Place to Work for Disability Inclusion. Baxter is proud to be recognized in the Dow Jones Sustainability Index and the FTSE4Good Index Series and by CDP for its environmental leadership with A- scores in both climate and water. These awards are among numerous other regional and country-specific recognitions across the globe.

About Baxter

Every day, millions of patients and caregivers rely on Baxter’s leading portfolio of critical care, nutrition, renal, hospital and surgical products. For 90 years, we’ve been operating at the critical intersection where innovations that save and sustain lives meet the healthcare providers that make it happen. With products, technologies and therapies available in more than 100 countries, Baxter’s employees worldwide are now building upon the company’s rich heritage of medical breakthroughs to advance the next generation of transformative healthcare innovations. To learn more, visit www.baxter.com and follow us on Twitter, LinkedIn and Facebook.

Baxter is a registered trademark of Baxter International Inc.

This release includes forward-looking statements concerning Baxter’s 2030 Corporate Responsibility Commitment. The statements are based on assumptions about many important factors, including the following, which could cause actual results to differ materially from those in the forward-looking statements: continuity, availability and pricing of acceptable raw materials and component supply; inability to create additional production capacity in a timely manner or the occurrence of other manufacturing or supply difficulties (including as a result of a natural disaster, public health crises and epidemics/pandemics, regulatory actions or otherwise); the impact of global economic conditions (including potential trade wars) and public health crises and epidemics, such as the ongoing coronavirus (COVID-19) pandemic, on us and our customers and suppliers, including foreign governments in countries in which we operate; the adequacy of the company’s cash flows from operations (which may be negatively impacted by collectability concerns as a result of the ongoing COVID-19 pandemic or otherwise) and other sources of liquidity to meet its ongoing cash obligations and fund its investment program; future actions of regulatory bodies and other governmental authorities; and other risks identified in Baxter's most recent filings on Form 10-K and Form 10-Q and other SEC filings, all of which are available on Baxter's website. Baxter does not undertake to update its forward-looking statements unless otherwise required by the federal securities laws.

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FAQ

What are the key highlights of Baxter's 2020 Corporate Responsibility Report?

Baxter's report highlights a 13.6% reduction in greenhouse gas emissions, over 375 recycling partnerships, and six new products that reduced material usage by at least 15%.

What are Baxter's new corporate responsibility commitments for 2030?

Baxter's 2030 commitments include doubling patient outreach, achieving carbon neutrality by 2040, and investing $275 million in underserved communities.

How does Baxter align with the United Nations Sustainable Development Goals?

Baxter's efforts address multiple UN SDGs, focusing on Good Health, Clean Water, and Responsible Consumption.

What progress did Baxter make between 2015 and 2020 in corporate responsibility?

Baxter exceeded goals in sustainability, including reducing product complaints by 19% and establishing recycling partnerships.

What recognition has Baxter received for its corporate responsibility initiatives?

Baxter has been recognized by 3BL Media, JUST Capital, and Newsweek, and is included in the Dow Jones Sustainability Index.