(Image by Markus Spiske on Unsplash)
Medical Design & Outsourcing recently rated the world’s largest medical device companies — the Big 100 — for their sales numbers and R&D spend. Now we can share how some of them scored on an environmental nonprofit’s annual list of companies ranked for their actions on climate change.
Not-for-profit organization CDP (Stockholm, Sweden) runs a global disclosure system for investors, companies, cities, states and regions to manage their environmental impacts. It grades companies based on their answers to questionnaires on environmental transparency and action regarding climate change, forest impact and water security.
CDP’s scoring methodology covers comprehensive disclosure of environmental impacts, risks, opportunities, governance and actions; awareness of environmental risks and how they relate to their business; demonstrated management of these environmental risks and evidence of best practice associated with environmental leadership. Thousands of companies disclose through CDP at the request of investors and corporate buyers, according to the organization.
Companies were scored only on the basis of the categories for which they submitted answers. For example, many medtech companies reported climate change impact only, while some also reported water security or water security alone. None of the medtech companies reported on their forest impact, according to CDP data.
Here are the medtech A-listers, rated on their climate change scores: Bayer, Canon, Elkem, Johnson & Johnson, Kyocera, Robert Bosch, Royal Philips and Tessy Plastics.
J&J also got an A for water security. Fujifilm Holdings and Toray Industries each scored an A for water security, while Baxter received an A- for both climate change and water security. Carl Zeiss scored an A- for climate change and Olympus got an A- in both categories.
On the B list for climate change: 3M, Abbott, Becton Dickinson, Edwards Lifesciences, Medtronic, Qualcomm, Varian Medical Systems and Zimmer Biomet. Qualcomm landed an A- for water security while Abbott and BD also each scored a B in that category. Edwards and Medtronic each gained a B- for water security. Terumo scored a B for climate change and an A- for water security.
TE Connectivity scored a B for climate change and C- for water security, while Thermo Fisher Scientific landed a B- for climate change and a C for water security.
On the C list: Boston Scientific, Cardinal Health and Stryker each got a C for climate change. Emerson Electric logged Cs in both climate change and water security.
D-list and lower: Danaher and Perkin Elmer scored Ds in both categories while Henry Schein, Hologic and Steris gained Ds in climate change alone.
Those that don’t disclose or provided insufficient information are marked with an F. Medtech companies that received an F included Abiomed, Align Technology, Intuitive Surgical, Resmed and Stericycle, according to CDP.
A total of 300 companies of all types achieved A-list status in 2020 — five years since global leaders agreed to the Paris climate accord, according to CDP. A-lister Elkem announced that this was its first year submitting climate change answers and that it plans to add water security responses next year.
“This A rating from CDP on climate is a strong confirmation of Elkem’s position as one of the world’s leading companies in the environmentally responsible manufacture of metals and materials,” said Elkem CEO Michael Koenig in a news release. “It also serves as an inspiration to continue improving further. Climate change mitigation and adaptation are important in our business strategy and essential to secure our license to operate. We also see that it is increasingly important for our stakeholders — including employees, customers, suppliers, governments and capital markets — and we will continue to step up our efforts as we position for the future.”
Tessy Plastics president Roland Beck credited that company’s environment, health and safety team with paving the way to make conscious decisions and take action to reduce Tessy’s carbon footprint.
“We have come a long way in the past 10 years and it is truly remarkable how we are now recognized as a leader in corporate sustainability,” Beck said in a news release. “It is not only important to us but to our customers, suppliers and vendors that we provide sustainable quality-driven solutions across the board… I am very proud of the efforts put forth and I look forward to raising the bar even higher allowing us to redefine the corporate sustainability standard. As we continue our sustainability journey, it is my hope that others will follow in our footsteps to cut emissions and mitigate climate risks.”
“Congratulations to these leaders — through their action and transparency they are getting ahead of the pack and will seize the benefits as we transition to a net-zero sustainable economy,” said Dexter Galvin, global director of corporations & supply chains at CDP, in a separate statement. “CDP data shows growing environmental awareness among the business world in 2020, which is hugely positive considering the unprecedented challenges business and society have faced this year.”
The full list of companies that received ratings can be found here. The full methodology for the CDP scores is transparent and available here.
