- Baxter International Inc. (BAX, Financial) reports a 13.5% reduction in greenhouse gas emissions for 2024.
- The company invested $31.5 million in underserved and disaster-affected communities worldwide.
- Baxter continues to prioritize stakeholder engagement and transparent reporting through periodic materiality assessments.
Baxter International Inc. (BAX), a leader in the global medtech industry, has released its 2024 Corporate Responsibility Report, highlighting significant strides in sustainability and community support. The report underscores Baxter's dedication to its 2030 Corporate Responsibility Commitment and Goals, which focus on empowering patients, protecting the planet, and championing people and communities.
In 2024, Baxter achieved a 13.5% reduction in Scope 1 and 2 greenhouse gas emissions from the previous year, marking significant progress towards its goal of a 25% reduction by 2030. This effort aligns with science-based targets aimed at limiting global warming. The company invested approximately $12 million in 175 energy conservation projects, which include solar installations and a biomass-fired steam generator.
Furthering its commitment to sustainable practices, Baxter completed a circular economy pilot to promote waste avoidance through material circulation. This initiative involved educating employees and exploring how circularity principles can be applied within Baxter’s manufacturing processes. The company's HR 900 hospital beds, manufactured in Pluvigner, France, are a standout example of this initiative, being made from nearly 37% recycled materials.
Baxter significantly bolstered its community outreach by investing $31.5 million in underserved and disaster-affected regions, including over $4 million dedicated to aiding individuals impacted by Hurricane Helene in the U.S. Through collaborations with humanitarian organizations, the Baxter Foundation expanded access to healthcare and fostered STEM education in over 100 countries.
To ensure its corporate responsibility strategy is informed and effective, Baxter conducted a double materiality assessment in 2024. This assessment analyzed the impact of the company's activities on the environment and society, as well as how these issues affect Baxter's operational and financial performance. The insights gained will guide future corporate responsibility goals, particularly following the recent sale of its Kidney Care business in January 2025.
For more details on Baxter’s initiatives and progress, the company’s annual Sustainability Accounting Standards Board (SASB) Index and Task Force on Climate-related Financial Disclosures (TCFD) Index are included in the 2024 Corporate Responsibility Report.
