MEDTRONIC PLC.
2M6.XETRA | Manufacture of medical and dental instruments and supplies
Medtronic PLC is a global medical technology company that develops, manufactures, and sells a wide range of device-based medical therapies. Its products and therapies are used to treat a variety of chronic diseases and conditions, including cardiac and vascular diseases, neurological disorders, spin...Show More
Better Health for All
0
No relevant information was found in the provided articles to assess Medtronic PLC against the 'Better Health for All' ethical value, as all articles resulted in 404 errors.
1
Fair Money & Economic Opportunity
0
Medtronic PLC is a medical technology company, and the provided articles detail its global health initiatives through Medtronic LABS and STEM education partnerships via the Medtronic Foundation. These activities do not involve lending, insuring, moving, or storing money, nor do they relate to financial products or services. Therefore, the company does not offer products or services relevant to the 'Fair Money & Economic Opportunity' value, resulting in a score of 0 for all applicable KPIs as per the rubric's 'Not applicable' definitions.
Fair Pay & Worker Respect
0
In fiscal year 2024, Medtronic's CEO to median employee pay ratio was 296:1.
1
The company reported 100% gender and ethnically diverse pay equity in the U.S. and 99% gender pay equity globally as of February 2023.
2
Medtronic settled a wage discrimination case for $290,000 involving 78 Hispanic entry-level employees who were allegedly underpaid compared to their white counterparts between 2008 and 2013.
3
The U.S. Department of Labor's Office of Federal Contract Compliance Programs (OFCCP) concluded there were no current pay disparities for this specific group at the time of the settlement.
4
Over the past three years, Medtronic has had three substantiated wage and hour violations, totaling $3,026,018 in penalties.
5
Fair Trade & Ethical Sourcing
40
Medtronic directed 35% of its overall U.S. supplier spend, totaling $2.4 billion in 2021, to U.S. small and diverse suppliers.
1
Honest & Fair Business
-20
Medtronic's financial statements in a recent filing do not reflect the correction of an error to previously issued financial statements, indicating zero restatements.
1
The company has a global compliance hotline available and emphasizes training, auditing, and corrective action procedures for compliance violations, but the effectiveness of the program is not publicly measured.
2
Medtronic also has a Global Anti-Corruption Policy, including compliance with the U.S. FCPA, the U.K. Bribery Act, and the Irish Criminal Justice (Corruption Offences) Act 2018, with training and auditing mentioned, but lacks customization for high-risk areas or public reporting on effectiveness.
3
Kind to Animals
-40
Medtronic uses animals in medical device testing due to government regulations and stated in 2010 that it was unable to confirm device safety without animal testing, continuing to use live animals until other solutions emerge.
1
The company states it will explore alternatives to animal research and only use the smallest, most reasonable number of animals in research.
2
PETA filed shareholder resolutions in 2005, 2008, and 2010 to minimize or eliminate animal testing, leading to Medtronic agreeing to perform feasibility tests in 2010.
3
Medtronic states on its website that it will only use the smallest, most-reasonable number of animals in research and design studies to avoid unnecessary tests on animals.
4
The company has pledged to extend animal welfare protections if animals are used in foreign contract laboratories.
5
Medtronic is collaborating with the Wildlife Science Center and the Smithsonian's National Zoo and Conservation Biology Institute, and donates Reveal LINQ™ cardiac monitors to researchers.
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This technology is used to study and improve the quality of life for wild species, including critically endangered red wolves, Mexican grey wolves, maned wolves, oryx, jaguars, and bears, providing physiological data without invasive procedures and contributing to conservation efforts.
7
No War, No Weapons
0
No specific, concrete data points were found in the provided articles that directly map to the quantitative thresholds of any KPI in the 'No War, No Weapons' rubric. While Medtronic was noted to have a $472 million U.S. defense contract
1
and reported lobbying expenditures of $4,290,000 in 2024 and $3,760,000 in 2023,
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the articles do not provide the necessary percentages of total company revenue or lobbying spend related to arms control to score the respective KPIs. Similarly, the recognition as one of the World’s Most Ethical Companies by Ethisphere does not explicitly confirm alignment with UN Guiding Principles on Business and Human Rights as required by that KPI.
3
Planet-Friendly Business
-60
Medtronic is pursuing setting targets through the Science-Based Targets initiative (SBTi), but these targets are not yet validated.
1
The company has set a net-zero emissions target for FY45.
2
In FY24, 42% of its operational energy needs were met with renewables.
3
The company also reports alignment with the Task Force on Climate-related Financial Disclosures (TCFD).
4
Respect for Cultures & Communities
0
No evidence available to assess MEDTRONIC PLC on Respect for Cultures & Communities.
Safe & Smart Tech
0
No evidence available to assess MEDTRONIC PLC on Safe & Smart Tech.
Zero Waste & Sustainable Products
-40
Medtronic achieved a 50% recycling rate in FY23 and roughly half of its 32,000 metric tons of waste was recycled in 2022.
1
The company has a target to reduce waste intensity by 40% by FY30 from a FY20 baseline, having already achieved a 21% reduction.
2
Operational waste has been reduced by 19% since FY20.
3
Medtronic integrates circularity and eco-design criteria into its new product development process.
4
The company's take-back programs collected 5.8 million products in FY23 and diverted over 474,000 pounds from landfills in FY25 through its Nellcor™ pulse oximetry solution program, which is provided to over 1,000 U.S. hospitals.
5
Medtronic proactively manages hazardous waste to comply with local regulations.
6
Waste audits are conducted every three or more years based on EHS risk and site activity.
7
The Pharma Laboratory achieved My Green Lab Certification.
8
For customer education, Medtronic is converting 50% of eligible product codes to electronic instructions for use (IFU) within applicable regions by FY30.
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