Baxter Details Progress Toward Environmental, Social and Governance (ESG) Priorities in Annual Corporate Responsibility Report
Provides updates across 2030 Corporate Responsibility Commitment and Goals
Unveils Climate Action Roadmap describing how Baxter plans to achieve its goal to become carbon neutral for its direct operations by 2040
Highlights $52 million contributed in cash and products from Baxter and the Baxter International Foundation to support communities and advance racial justice initiatives
Demonstrates how the company is further embedding governance and oversight of its ESG programs at the highest leadership levels
DEERFIELD, Ill. -
Baxter International Inc. (NYSE:BAX), a global medtech leader, today released its 2021 Corporate Responsibility Report, demonstrating how the company is progressing toward its 2030 Corporate Responsibility Commitment and Goals. The report highlights the continued progress Baxter has made to advance environmental, social and governance (ESG) performance across its operations and philanthropic programs.
"Baxter's unwavering dedication to responsible corporate citizenship is at the heart of our Mission to Save and Sustain Lives," said José (Joe) E. Almeida, chairman, president and chief executive officer. "Across our 90-year history, we have worked to improve the health of patients, protect the planet, and support the well-being of our employees and the communities we serve worldwide. This deeply embedded commitment has only been reinforced through our acquisition of Hillrom, as we continue to integrate our people and operations in reflection of our shared values."
2021 Corporate Responsibility Accomplishments
Since announcing Baxter's 2030 Corporate Responsibility Commitment and Goals in July 2021, the company has defined baseline metrics, furthered performance-tracking mechanisms, established goal-related teams, and strengthened governance processes. These efforts established the necessary foundation and go-forward roadmaps that will help guide the company's efforts as it works to achieve these goals by 2030 and beyond.
Among the key accomplishments highlighted in the report and aligned with the company's 2030 Corporate Responsibility Goals, Baxter:
- Implemented nearly 200 energy conservation projects expected to avoid 8,800 metric tons CO2e of greenhouse gas (GHG) emissions annually1 and installed over 3 megawatts of new solar energy capacity.
- Created a Climate Action Roadmap detailing how the company plans to achieve its goal to become carbon neutral for its direct operations by 2040.
- Reduced water use in its operations by 7.7 percent in water-stressed areas and reduced waste generation by 9.0 percent, compared with 2020 and indexed to revenue.2
- Reduced its total recordable incident rate for employee illness or injury by 20 percent compared with 2020, which ranks it in the top quartile of peer companies for the year.2,3
- Contributed more than $52 million in cash and products, from both Baxter and the Baxter International Foundation. These strategic investments in communities included a new signature partnership to increase access to safe water in Colombia, support of nonprofit organizations responding to the COVID-19 pandemic, several initiatives as part of the company's ACT: Activating Change Today program to advance inclusion and racial justice, and more.
- Bolstered existing governance of the company's ESG programs, including adding an executive cross-functional Corporate Responsibility Steering Committee to provide additional direction and oversight, while helping advance the company's corporate responsibility strategy and culture for its stakeholders.
Commitment to Transparent Reporting
Baxter also published today its 2021 Sustainability Accounting Standards Board (SASB) Index in line with the Medical Equipment & Supplies Sustainability Accounting Standard.
The company has published its performance in ESG-related initiatives for 30 years, demonstrating Baxter's established commitment to transparent reporting. Baxter continues today to proactively evaluate its reporting approach in the interest of aligning with Global Reporting Initiative (GRI) and other leading disclosure frameworks, sustainability standards and reporting organizations, including the Task Force on Climate-related Financial Disclosures (TCFD).
Recognition of the Company’s Corporate Responsibility Efforts
Baxter has 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 a diverse, equitable and inclusive workplace, and a socially and environmentally responsible business.
In addition to numerous regional and country-specific recognitions, Baxter is proud to have recently received the following representative awards and acknowledgements:
- 3BL Media's 100 Best Corporate Citizens
- Newsweek's America's Most Responsible Companies
- EcoVadis' Gold Sustainability Rating
- FTSE4Good Index Series
- Dow Jones Sustainability Indices (DJSI)
- CDP's Climate Change (Score B) and Water Security (Score B)
- Forbes' America's Best Employers for Diversity, Best Employers for Women, and World's Best Employers
- Human Rights Campaign Foundation's Corporate Equality Index
- Disability:IN and the American Association of People with Disabilities' Best Place to Work for Disability Inclusion
- Seramount's 100 Best Companies, Best Companies for Dads, Top Companies for Executive Women, and Best Companies for Multicultural Women; and the Seramount Global Inclusion Index
Learn more about Baxter's corporate responsibility initiatives in the Corporate Responsibility section of its website.
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 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 Twitter, LinkedIn and Facebook.
This release includes forward-looking statements concerning Baxter's 2030 Corporate Responsibility Commitment and other plans and initiatives described in the release. 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: the impact of global economic conditions (including potential trade wars and economic sanctions) and public health crises and epidemics, such as the ongoing coronavirus (COVID-19) pandemic, on Baxter and its employees, customers and suppliers, including foreign governments in countries in which Baxter operates; inability to create additional production capacity in a timely manner or the occurrence of other manufacturing or supply difficulties (including as a result of natural disasters, public health crises and epidemics/pandemics, regulatory actions or otherwise); satisfaction of regulatory and other requirements; actions of regulatory bodies and other governmental authorities; product quality, manufacturing or supply, or patient safety issues; changes in law and regulations; the adequacy of our 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 our ongoing cash obligations and fund our investment program; and other risks identified in Baxter's most recent filing 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.
Baxter and Hillrom are registered trademarks of Baxter International Inc.
1 GHG emissions avoidance are calculated for the 12 months following project implementation.
2 Metrics included do not reflect Hillrom activity.
3 Among global companies across industries as reported by the U.S. Bureau of Labor Statistics.