Medtronic Signs Commitment to Science Based Targets Initiative (SBTi)

Rhea-AI Summary

Medtronic announced its commitment to the Science Based Targets initiative (SBTi), joining over 4,600 organizations aiming to achieve carbon neutrality. The SBTi guides companies in setting science-based emissions reduction targets in line with climate science. Medtronic aims for operational carbon neutrality by FY30 and net-zero emissions across all scopes by FY45. This formal commitment emphasizes the company's dedication to reducing its carbon footprint and addressing climate change risks. Targets will be validated by SBTi within 24 months, marking a significant step in Medtronic's sustainability journey.

Positive

• Commitment to SBTi aligns Medtronic with over 4,600 organizations promoting emissions reduction.
• Aiming for operational carbon neutrality by FY30 and net-zero emissions by FY45 supports long-term sustainability.
• Medtronic's approach showcases leadership in healthcare technology by tackling climate change.

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• None.

NORTHAMPTON, MA / ACCESSWIRE / March 15, 2023 / 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.

View additional multimedia and more ESG storytelling from Medtronic on 3blmedia.com.

Contact Info:
Spokesperson: Medtronic
Website: https://www.3blmedia.com/profiles/medtronic
Email: info@3blmedia.com

SOURCE: Medtronic

View source version on accesswire.com:
https://www.accesswire.com/743921/Medtronic-Signs-Commitment-to-Science-Based-Targets-Initiative-SBTi

FAQ

What is Medtronic's commitment to the Science Based Targets initiative (SBTi)?

Medtronic is committed to setting science-based emissions reduction targets to achieve carbon neutrality.

What are Medtronic's carbon neutrality goals for 2030 and 2045?

Medtronic aims for operational carbon neutrality by FY30 and net-zero emissions across all scopes by FY45.

When will Medtronic's SBTi targets be validated?

Medtronic's targets are set to be submitted and validated by the SBTi within 24 months.

How many organizations are involved in the Science Based Targets initiative?

Over 4,600 organizations worldwide are leading the challenge to become carbon neutral through the SBTi.