Medtronic Targets Net Zero Value Chain Emissions by 2045, Publishes Detailed Decarbonization Roadmap
Medical device company Medtronic announced today the publication of its Decarbonization Roadmap, detailing the company’s plans to reduce its climate impact, and including a new goal to reach zero value chain emissions across all scopes by 2045.
The new goals build on and extend the company’s existing climate targets, including a pledge to achieve operational carbon neutrality, originally launched last year. The roadmap provides more detail into the initiatives the company will follow to reach this goal, with the greatest impact derived from replacing fossil fuels as the key source of energy with virtual green power purchase agreements, as well as reducing energy usage through efficiency measures, expanding clean energy use through utility partnerships, and investing in renewable energy credits (RECs) and carbon offsets.
To address supply chain emissions, Medtronic plans to engage suppliers to develop emissions targets in line with Science Based Targets initiative (SBTi) criteria, and to establish environmentally preferred purchasing criteria to influence supplier selection based on environmental performance and climate impact, among other initiatives.
The roadmap also outlines planned logistics-based initiatives, including internal improvements in product network design, reduced packaging weight, order consolidation and shipment density, and partnering with carriers that meet expectations for a defined net zero pathway, use technologies such as electric vehicles and route optimization, and report annually on climate performance and progress.
Geoff Martha, Medtronic Chairman and Chief Executive Officer, said:
“As a global healthcare technology leader, our goal is to transform industry expectations and behavior where health and climate change intersect. Our teams across 150 countries are actively working to protect our planet by reducing our energy use, investing in renewables, and now moving toward net zero emissions throughout our operations, supply chain and logistic partners, by pursuing science-based targets.”