Henry Schein commits to advance ESG stewardshipNews
Posted by: The Probe 13th May 2021
Henry Schein, Inc, the world’s largest provider of health care solutions to office-based dental and medical practitioners, announced today a series of efforts to further advance its environmental, social, and governance (ESG) performance and to reaffirm its commitment to the United Nations’ Sustainable Development Goals. As outlined in the Company’s 2020 Sustainability and Corporate Social Responsibility (CSR) Report, titled “Resilience for a Healthier World” and published today, the Company’s ESG strategy includes enhancing health equity and access to care, expanding ESG disclosures, and taking action to address the climate crisis.
By the end of 2022, Henry Schein plans to report progress in accordance with the Standards of each of the Global Reporting Initiative and Sustainability Accounting Standards Board. In addition, the Company is enhancing its disclosures on climate risks and opportunities according to recommendations made by The Financial Stability Board’s Task Force on Climate-Related Financial Disclosures and exploring a pathway to setting a Science-Based Target.
For more than 30 years, Henry Schein has continued to support the five constituents that make up the Company’s Mosaic of Success – Customers, Suppliers, Team Schein Members, Shareholders, and Society at Large. This year’s report, as detailed below, represents another milestone in the Company’s commitment to the Mosaic of Success.
Among other work highlighted in the report, Henry Schein is committed to the following actions for accelerating ESG stewardship:
- Aspiring to be carbon neutral in its supply chain emissions by the year 2050, if not sooner. In 2021, Henry Schein will focus on baselining its distribution and transportation metrics in key markets in North America, Europe, and Australia;
- Aiming to donate at least $50 million in cash and product through Henry Schein Cares and the Henry Schein Cares Foundation, Inc. by 2025 to advance health equity;
- Enhancing in 2021 an individual D&I goal tied to Henry Schein’s annual performance incentive program (i.e., cash bonus plan) for the senior managers in the Company (Directors, Vice Presidents, and Members of the Executive Management Committee);
- Contributing as a member to the World Economic Forum’s Stakeholder Capitalism Metrics initiative which seeks to improve ways companies measure and demonstrate their performance against ESG indicators and to enable positive contribution towards achieving the United Nations’ Sustainable Development Goals; and
- Committing to an all-electric operations lift truck ﬂeet in its U.S. distribution centers by 2025.
“Even as we tackled the unprecedented challenges created by the pandemic, we continued to accelerate progress along our ESG journey. We deepened our sustainability efforts by formalizing our policies, setting goals and targets for our ESG ambitions, and making steady and measurable progress toward these goals throughout the year,” said Stanley M. Bergman, Chairman of the Board and Chief Executive Officer of Henry Schein, Inc. “Our resilience in the face of the current crisis is a testament to the spirit of Team Schein and the strength of our long-term purpose-driven stakeholder model of engagement. We will continue to champion our socially responsible and sustainable approach to business as we do our part in building a healthier, more inclusive, and more prosperous future for all.”
The 2020 Sustainability and CSR report underscores the values instilled at the Company’s founding 89 years ago and highlights how Henry Schein gives back to the professions and communities it serves. The Company is committed to addressing its own environmental impact, engaging with investors in its business practices, providing its TSMs with a healthy, safe, and inclusive workplace, and contributing to health equity.
To learn more about Henry Schein’s ESG efforts and to view the full 2020 Sustainability and CSR report, please visit www.henryschein.com/corporatecitizenship.