Baxter Publishes Task Force on Climate-Related Financial Disclosures (TCFD) Report and Is Named to Dow Jones Sustainability Index North America

Rhea-AI Summary

Baxter International Inc. (NYSE:BAX) published its first report aligned with the Task Force on Climate-related Financial Disclosures (TCFD) recommendations, showcasing the company's commitment to transparency and strong disclosure in managing climate-related risks and opportunities. The report is designed to improve climate-related disclosure relevant to investors and key stakeholders, as Baxter continues to make a positive impact on patients, the planet, and communities. Baxter has been named to the Dow Jones Sustainability Index (DJSI) North America for 2023, marking its continuous inclusion in DJSI North America since 2005.

Positive

• Baxter's commitment to achieving carbon neutrality for its direct operations by 2040 and reducing absolute Scope 1 and 2 greenhouse gas emissions by 25% by 2030 demonstrates its strong environmental sustainability goals.
• Inclusion in the Dow Jones Sustainability Index (DJSI) North America for 2023 reflects Baxter's leading sustainability efforts and continuous commitment to sustainability since 2005.

Negative

• None.

Builds on Baxter’s more than 30-year history of reporting on environmental

and sustainability performance

DEERFIELD, Ill.--(BUSINESS WIRE)-- Baxter International Inc. (NYSE:BAX), a global medtech leader, today published its first report aligned with the Task Force on Climate-related Financial Disclosures (TCFD) recommendations, which were recently incorporated into the International Sustainability Standards Board Standards. The TCFD framework is designed to help improve climate-related disclosure that is relevant to Baxter’s investors and other key stakeholders in the areas of governance, strategy, risk management, and metrics and targets. The publication of the TCFD report comes as Baxter is named to the Dow Jones Sustainability Index (DJSI) North America for 2023, recognizing the company’s leading sustainability efforts. Baxter has proudly been included in DJSI North America each year since it launched in 2005.

“Continuously enhancing our reporting on climate-related topics that our stakeholders prioritize is a core and longstanding tenet of Baxter’s corporate responsibility approach,” said José (Joe) E. Almeida, chairman, president and chief executive officer at Baxter. “The TCFD report offers a valuable framework for assessing our strategy and performance in these key areas as we continue seeking to make a positive impact on our patients, our planet, and our people and communities.”

Baxter’s TCFD report includes information on the company’s management of climate-related risks and opportunities. Baxter is committed to transparency and strong disclosure in this area, as the company drives progress toward its goal to achieve carbon neutrality for its direct operations by 2040 and reduce absolute Scope 1 and 2 greenhouse gas emissions 25% by 2030, aligned with a well-below 2⁰ Celsius science-based target. The TCFD report complements Baxter’s annual Corporate Responsibility Report, Sustainability Accounting Standards Board (SASB) Index and submissions to CDP Climate and CDP Water, as well as other environmental, social and governance-related disclosures. Moving forward, Baxter expects to report against the TCFD framework in the company’s annual Corporate Responsibility Report.

About Corporate Responsibility at Baxter: Making a Meaningful Difference Worldwide

Responsible corporate citizenship advances Baxter’s aspirations as a healthcare leader, sparks innovation globally and reinforces the dedication of our employees to doing business the right way. Our commitment to “Empower our Patients,” “Protect our Planet,” and “Champion our People and Communities” guides our efforts as a socially responsible and sustainable business and as an employer of choice focused on diversity, equity and inclusion. We recently maintained our EcoVadis Gold Sustainability Rating and were included in 2023 on the FTSE Russell’s FTSE4Good Index Series and JUST Capital’s America’s Most JUST Companies list, among numerous other regional and country-specific recognitions across the globe. Learn more about Baxter’s corporate responsibility initiatives here.

About Baxter

Every day, millions of patients, caregivers and healthcare providers rely on Baxter’s leading portfolio of diagnostic, critical care, kidney care, nutrition, hospital and surgical products used across patient homes, hospitals, physician offices and other sites of care. For more than 90 years, we’ve been operating at the critical intersection where innovations that save and sustain lives meet the healthcare providers who make it happen. With products, digital health solutions 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 X/Twitter, LinkedIn and Facebook.

This release includes forward-looking statements concerning Baxter’s expectations about future TCFD disclosures, carbon neutrality and emissions goals. 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: satisfaction of regulatory and other requirements; actions of regulatory bodies and other governmental authorities (including with respect to climate change and other sustainability matters); changes in law and regulations; Baxter’s ability to execute on capital allocation plans; the occurrence of manufacturing difficulties; future actions of third parties; and other risks identified in Baxter's most recent filing on Form 10-K and other SEC filings, all of which are available on Baxter's website. Baxter does not undertake to update its forward-looking statements.

Baxter is a registered trademark of Baxter International Inc. or its subsidiaries.

View source version on businesswire.com: https://www.businesswire.com/news/home/20231211678771/en/

Media Contact

Andrea Johnson, (224) 948-5353

media@baxter.com



Investor Contact

Clare Trachtman, (224) 948-3020

Source: Baxter International Inc.

FAQ

What are Baxter International Inc.'s (NYSE:BAX) sustainability goals?

Baxter aims to achieve carbon neutrality for its direct operations by 2040 and reduce absolute Scope 1 and 2 greenhouse gas emissions by 25% by 2030.

What is the significance of Baxter's inclusion in the Dow Jones Sustainability Index (DJSI) North America for 2023?

Inclusion in the Dow Jones Sustainability Index (DJSI) North America reflects Baxter's leading sustainability efforts and continuous commitment to sustainability since 2005.

What is the purpose of Baxter's TCFD report?

The TCFD report is designed to improve climate-related disclosure relevant to investors and key stakeholders, showcasing Baxter's commitment to transparency and strong disclosure in managing climate-related risks and opportunities.

What is Baxter International Inc.'s (NYSE:BAX) approach to environmental sustainability?

Baxter is committed to achieving carbon neutrality for its direct operations by 2040 and reducing absolute Scope 1 and 2 greenhouse gas emissions by 25% by 2030, aligned with a well-below 2⁰ Celsius science-based target.