Medtronic

"Medtronic has set a net zero target to achieve zero emissions across scopes 1, 2, and 3 by fiscal year 2045. Net Zero Tracker
The company also has an interim goal to achieve carbon neutrality in its operations (scope 1 & 2) by fiscal year 2030. Net Zero Tracker
An interesting fact about Medtronic's environmental policy is that they plan to develop Science Based Targets initiative (SBTi) targets in fiscal year 2023. Net Zero Tracker
They also aim to reduce nearly 250,000 metric tons of emissions annually and achieve a 50% reduction in greenhouse gas emissions intensity. Net Zero Tracker …"

Current Score (vs. LY)

39.7 pts (7.3)

Last Update: Dec. 31, 2023

Current Rankings

Global: #100

S&P100: #70

Health Care: #11

Transparency

Quality of climate reporting based on public disclosures, completeness and verification of GHG emissions

Commitments

Level of ambition through gross absolute emissions reduction and 'net zero' targets

Results

Results and actions to deliver on commitments for real

Greenhouse Gas Emissions

Last 3 Years Emissions Data Summary

Y2022Y2021Y2020
Scope 1 94,90494,90489,839
Scope 2 - location-based NANANA
Scope 2 - market-based 189,802189,802218,742
Scope 1-2 - location-based 94,90494,90489,839
Scope 1-2 - market-based 284,706 284,706 308,581
Scope 3 353,636353,6360
Total - location-based 448,540448,54089,839
Total - market-based 638,342 638,342 308,581

Note: Data sources detailed here

Y2022 Y2021
Total CO2e estimate (by Net0Tracker) 2,852,0852,894,094
Methodology Pre-calculated sector intensity (revenue)Pre-calculated sector intensity (revenue)

Carbon emissions are estimated according to comparable years, intensity and sector benchmarks

Performance vs. Target

Note: Targets without baseline are ignored. In case several targets exist, only the shorter-term target is displayed.


Value Chain (scope 3) Emissions by Category

Emissions Trajectory (Full Scopes)



Please refer to the library for viewing the supporting documentation

Despite our best efforts to report accurate data based on publicly-available information, some data may be wrong, inaccurate or outdated. If it is the case, please reach out and report the issues. Email

Sector Benchmark

Note: Latest GHG and revenue data (based on tradingview.com) are used to calculate GHG emissions intensity by sector. The color scale of each bubble depends on the GHG intensity (GHG emissions per 1 million USD revenue). Sectors follow the Global Industry Classification Standard (GICS) that organize companies based on their primary business activities. The 11 sectors are : Information Technology, Health Care, Financials, Consumer Discretionary, Communication Services, Industrials, Consumer Staples, Energy, Utilities, Real Estate, and Materials.

Medtronic belongs to the sector Health Care.

Despite our best efforts to report accurate data based on publicly-available information, some data may be wrong, inaccurate or outdated. If it is the case, please reach out and report the issues. Email

Reduction and Net Zero Targets

>Note: intensity targets are not represented in the current version - see Methodology

Gross Absolute Emission Reductions

There is no absolute emission reduction recorded in our database. Email us to report missing information Email



Net Absolute Emission Reductions

Scope Reduction Objectives Base Year Target Year Comments
S1S2MKT 100.0 2020 2030


Net Zero Future Commitments

Scope Scope 3 Coverage Target Year Comments
S1S2LOC NO 2030
S1S2S3MKT FULL 2045


Science-based Targets (SBTI)

Date Published / Updated :01/03/2023

Near-term Long-Term Net Zero Standard
Committed No target Yes
Medtronic is a member of the Business Ambition for 1.5 campaign (link here )
Data source: SBTI

Despite our best efforts to report accurate data based on publicly-available information, some data may be wrong, inaccurate or outdated. If it is the case, please reach out and report the issues. Email

Offsets

Last update for Medtronic by zerotracker.net: Feb. 11, 2024
Planning to use external offset credits Yes
Separate targets for emission reductions and removals No
Conditions on use of offset credits
  • No conditions specified
Plans for carbon dioxide removal (CDR) Not Specified

Additional notes: "by Investing in more renewable energy credits (RECs) and carbon offsets https://www.medtronic.com/content/dam/medtronic-wide/public/brand-corporate-assets/resources/decarbonization-roadmap.pdf

Data source from zerotracker.net - For more information, see methodology

Score Summary

Ref Principle Score
(points)
Max
(points)
Delta
(points)
1 At least 2 years of GHG emissions for scope 1 and 2 are publicly-available and externally-verified 10.0 10.0 0.0
2 Scope 3 emissions are fully reported and externally-verified 2.5 10.0 0.0
3 CDP score demonstrates the level of transparent disclosures 8.0 10.0 0.0
Transparency 20.5 30.0 0.0
4 Net Zero Commitments by 2050 include an intermediate target and cover all the emissions 10.0 10.0 4.0
5 Net Zero targets demonstrate a high-level of emergency 4.166666666666667 10.0 0.8
6 Emission reduction targets on a forward-looking basis are ambitious 0.0 10.0 0.0
7 Targets are science-based as validated by SBTi 2.5 10.0 2.5
Commitments 16.666666666666668 40.0 7.3
8 Results re. operational emissions reduction: on-pace (performance-to-date) and momentum (forward-looking targets) 0.0 10.0 0.0
9 Results re. value chain emissions reduction: on-pace (performance-to-date) and momentum (forward-looking targets) 0.0 10.0 0.0
10 Implied Temperature Rating by MSCi 2.5 10.0 0.0
Results 2.5 30.0 0.0
Total 39.7 100.0 7.3


Despite our best efforts to report accurate data based on publicly-available information, some data may be wrong, inaccurate or outdated. If it is the case, please reach out and report the issues. Email


Score Details

Criteria Results 2023 Score 2022 Score Vs. 2022 2021 Score
Criteria 1 : Transparency on operational emissions (Scope 1 + 2)
Are S1+S2 figures publicly-disclosed for the last reporting year and the preceding period? yes 5.0 / 5.0 5.0 0.0 5.0
Are S1+S2 figures verified by a 3rd-party for the last reporting year? yes 5.0/ 5.0 5.0 0.0 0.0
Criteria 2 : Transparency on value chain emissions (Scope 3)
Are the 15 categories fully or partly disclosed? partly 2.5 / 5.0 2.5 0.0 2.5
Are S3 figures fully or partly verified by a 3rd-party for the last reporting year? NC 0.0 / 5.0 0.0 0.0 0.0
Criteria 3 : Quality and Frequency of reporting
What is the latest CDP score (no later than the preceding year)? B 8.0 / 10.0 8.0 0.0 8.0
How many interim reporting were provided between 2 reporting periods (GHG emissions only)?
Criteria 4 : Net Zero Commitments
Does the net 0 target include a statement of a generally-accepted net zero emission target by 2050? yes 3.0 / 3.0 3.0 0.0 3.0
Does the net zero target include an intermediate target by 2030? 2025 3.0 / 3.0 3.0 0.0 3.0
Does the net zero target include all the emissions? yes 4.0 / 4.0 0.0 4.0 0.0
Criteria 5 : Target year for Net Zero Commitments
Target year for achieving net zero emissions for S1+S2? 2030 3.3 / 5.0 3.3 0.0 3.3
Target year for achieving net zero emissions for S1+S2+S3 combined? 2045 0.8 / 5.0 0.0 0.8 0.0
Criteria 6 : Reduction objectives
What is the forward-looking GHG% reduction (without compensation) for scope 1+2?
0.0 / 5.0 0.0 0.0 0.0
What is the forward-looking GHG% reduction (without compensation) for scope 1+2+3?
No target found
0.0 / 5.0 0.0 0.0 0.0
Criteria 7 : Science-Based Targets
What type of science-based target (as validated by SBTi) did the company commit to? Committed NA 2.5 / 10.0 0.0 2.5 0.0
Criteria 8 : Results based on scope 1 - 2
Performance to date: cumulative% reduction vs. target Objective (in %):
Actual (in %):
No target found
0.0 / 5.0 0.0 0.0 0.0
Momentum: last year % reduction vs. forward-looking target Objective (in %):
Actual (in %):
No target found
0.0 / 5.0 0.0 0.0 0.0
Criteria 9 : Results based on scope 1 - 2 - 3
Performance to date: cumulative% reduction vs. target Objective (in %):
Actual (in %):
No target found
0.0 / 5.0 0.0 0.0 0.0
Momentum: last year % reduction vs. forward-looking target Objective (in %):
Actual (in %):
No target found
0.0 / 5.0 0.0 0.0 0.0
Criteria 10 : Implied Temperature Rise (ITR)
Is the company aligned with global climate targets? ITR: 2.7°C 2.5 / 10.0 2.5 0.0 2.5
Total 39.7 / 100.0 32.3 7.3 27.3


Available Data Sources

Reporting Year 2022 2021 2021 2021 2021 2021 2020 2020 2020 2019
Source Public Yourstake Public Public Public CDP Public Public CDP Public
Publication Year 2022 2023 2022 2022 2022 2021 2022 2021 2020 2022
Scope 1 94,904 94,904 92,100 64,022 64,000 64,022 89,839 61,800 61,803 62,900
Scope 2 - location-based NA NA NA 0 NA NA NA 0 0 0
Scope 2 - market-based 189,802 189,802 206,900 206,947 206,900 206,947 218,742 218,700 218,742 225,800
Scope 1-2 - location-based 94,904 94,904 92,100 64,022 64,000 64,022 89,839 61,800 61,803 62,900
Scope 1-2 - market-based 284,706 284,706 299,000 270,969 270,900 270,969 308,581 280,500 280,545 288,700
Scope 3 353,636 353,636 0 0 0 238,686 0 0 278,482 0
Total - location-based 448,540 448,540 92,100 64,022 64,000 302,708 89,839 61,800 340,285 62,900
Total - market-based 638,342 638,342 299,000 270,969 270,900 509,655 308,581 280,500 559,027 288,700

Sources

Please refer to the library for viewing the supporting documentation

Despite our best efforts to report accurate data based on publicly-available information, some data may be wrong, inaccurate or outdated. If it is the case, please reach out and report the issues. Email