Baxter Publishes Annual Corporate Responsibility Report, Demonstrating Ongoing Action to Make a Meaningful Difference Around the World

Business Wire

5 days ago

DEERFIELD, Ill.--(BUSINESS WIRE)--Baxter International Inc. (NYSE:BAX), a global medtech leader, today published its 2024 Corporate Responsibility Report. The annual report demonstrates Baxter's commitment to transparent reporting and provides updates on the company's 2030 Corporate Responsibility Commitment and Goals, 1 which strive to create a more sustainable and responsible business model.
The annual report demonstrates Baxter's commitment to transparent reporting and provides updates on the company's 2030 Corporate Responsibility Commitment and Goals, which strive to create a more sustainable and responsible business model.
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'Baxter's Mission to Save and Sustain Lives inspires our work every day and has remained a guiding force even as we redefined the company's business, portfolio and operating model in recent years,' said Brent Shafer, chair and interim chief executive officer. 'Our mission extends to Baxter's commitment as a responsible corporation and our aim to make a meaningful difference in the world. I thank Baxter's 38,000 global employees for continuing to shape who we are as a company and the positive impact we have on the patients, healthcare professionals and communities who rely on us.'
2024 Corporate Responsibility Highlights
Baxter's 2024 Corporate Responsibility Report shares updates on the company's 2030 Corporate Responsibility Commitment and Goals, supporting an overarching pledge to 'Empower our Patients,' 'Protect our Planet' and 'Champion our People and Communities.' Key accomplishments from 2024 include:
Reduced Scope 1 and 2 greenhouse gas emissions (GHG) by 13.5% compared to 2023 and 18.8% compared to the baseline year of 2020. This marks three-quarters of the way to Baxter's 2030 goal of a 25% emissions reduction, aligned with a well-below 2⁰ Celsius science-based target. Additionally, in 2024, Baxter invested approximately $12 million to complete 175 energy conservation projects across the company's manufacturing sites, including four solar installations and one biomass-fired steam generator installation.
Completed a circular economy pilot—a model of keeping materials in circulation to help avoid waste—as part of Baxter's ongoing efforts and goal to mitigate waste across its integrated supply chain, from procurement to distribution. The pilot, which included employee education and an exploration of how circularity principles can be applied to Baxter's manufacturing processes, is helping to inform materials and waste management plans and builds on existing reuse and recycle practices in manufacturing, product and packaging. One existing example is Baxter's HR 900 hospital beds, which are manufactured in Pluvigner, France and made from nearly 37% recycled materials.
Invested approximately $31.5 million in underserved and disaster-affected communities worldwide through strategic partnerships and product donations from both Baxter and the Baxter Foundation, including more than $4 million to support employees and communities affected by Hurricane Helene in the U.S. The Baxter Foundation focuses on collaborations with leading global humanitarian organizations to increase access to healthcare, bolster science, technology, engineering and math (STEM) education and promote community resilience. In 2024, Baxter's charitable giving reached people in more than 100 countries.
For the fourth consecutive year – since the current goal set was launched – achieved an annual goal of top quartile workplace safety performance in total recordable incident rate.
Prioritizing Stakeholder Engagement and Transparent Reporting
Baxter periodically conducts materiality assessments to understand and prioritize topics that are important to the long-term sustainability of Baxter's business and most relevant to the company's stakeholders. In 2024, Baxter conducted a double materiality assessment to analyze how the company impacts the environment and society as well as how environmental, social and governance topics impact the company's operational results and financial position. The findings help inform Baxter's corporate responsibility strategy, commitment and goals and provide critical insights as the company evaluates its commitment and goals following the sale of its Kidney Care business in January 2025. An overview of the assessment and its findings are included in this year's report.
In addition, the 2024 Corporate Responsibility Report includes Baxter's annual Sustainability Accounting Standards Board (SASB) Index, based on the SASB Medical Equipment and Supplies Sustainability Accounting Standard, and the annual Task Force on Climate-related Financial Disclosures (TCFD) Index.
Learn more about Baxter's corporate responsibility initiatives here.
About Baxter
At Baxter, we are everywhere healthcare happens – and everywhere it is going, with essential solutions in the hospital, physician's office and other sites of care. For nearly a century, our customers have counted on us as a vital and trusted partner. And every day, millions of patients and healthcare providers rely on our unmatched portfolio of connected solutions, medical devices, and advanced injectable technologies. Approximately 38,000 Baxter team members live our enduring mission: to save and sustain lives. Together, we are redefining how care is delivered to make a greater impact today, tomorrow and beyond. To learn more, visit www.baxter.com and follow us on X, LinkedIn and Facebook.
This release includes forward-looking statements concerning Baxter's 2030 Corporate Responsibility Commitment and Goals 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 company's ability to achieve the intended benefits of our strategic actions, including the sale of our Kidney Care business, business strategy and development activities and cost saving initiatives; demand for and market acceptance risks for, and competitive pressures (including pricing) related to new and existing products and services; product development risks; inability to create additional production capacity in a timely manner or the occurrence of other manufacturing, sterilization, or supply difficulties (including as a result of natural disaster or severe weather event, war, terrorism, global public health crises and epidemics/pandemics, regulatory actions or otherwise); satisfaction of regulatory and other requirements; product quality, manufacturing or supply, or patient safety issues; actions of regulatory bodies and other governmental authorities and changes in law and regulations and other governmental pressures in the United States and globally; the impact of physical effects of climate change, severe storms (including Hurricane Helene) and storm-related events; the company's ability to meet evolving and varied corporate responsibility expectations of our stakeholders, including compliance with new and emerging sustainability regulations; 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 unless otherwise required by the federal securities laws.
Baxter and HR 900 are trademarks of Baxter International Inc. or its subsidiaries.
1 Data presented in the 2024 report includes Baxter's Kidney Care business, which was sold in January 2025, unless otherwise noted.