Cardinal Health releases fiscal 2023 ESG report
Cardinal Health has released its Fiscal 2023 Environmental, Social and Governance Report, highlighting the company's work toward building a healthier, more equitable future.
"At Cardinal Health, we approach ESG in a way that supports our business, positions us as a partner of choice for customers and suppliers, and ensures compliance with evolving regulatory requirements," said Jason Hollar, Cardinal Health's CEO. "We know that ESG is the right thing to do and the right thing for our business. Our new report illustrates how our ESG priorities are helping us create long-term, sustainable value for all our stakeholders."
Here are some highlights from the new ESG Report:
Empowering employees
The company continued to strive to create an inclusive workplace where employees have the ability to be their authentic selves, and where all people are treated fairly and equitably.
Cardinal Health enhanced efforts to reduce mental health stigma and increase employees' access to services to support mental well-being. The company began bringing together private and public sector leaders to discuss possible solutions to the growing prevalence of mental health challenges.
[Read more: Retailers ramp up initiatives to drive equity, diversity and sustainability]
Creating value for customers and communities
The company continued its focus on increased supply chain resiliency so that customers receive the products they need to provide the quality of care their patients require.
Cardinal Health helped increase equitable access to quality health care among its workforce, through its business and advocacy and the work that the Cardinal Health Foundation does in the communities where employees live and work.
The company and its Foundation provided nearly $22 million in cash and product donations; its employees donated an additional $1 million to charitable organizations and collectively gave more than 54,600 hours of volunteer service.
Operating sustainably and responsibly
Cardinal Health reduced its Scope 1 and Scope 2 greenhouse gas emissions by 13%, from a fiscal 2019 base year, making progress toward its fiscal 2030 50% reduction goal. The company also baselined its Scope 3 GHG emissions and submitted a science-based target, which includes Scope 1, 2 and 3 emissions, to the Science Based Targets initiative for validation; Cardinal Health expects to provide more detail in the coming months.
The company conducted its first life cycle assessment comparing single-use compression sleeves to reprocessed alternatives in its Sustainable Technologies business: Results showed that reprocessed sleeves had a 40% lower carbon footprint and reduced hospital waste disposal costs by 90%.
[Read more: Wegmans to eliminate plastic bags company-wide by the end of 2022]
To increase transparency and business integrity throughout its supply chain, the company continued to improve its supplier due diligence program and supply chain mapping.
To view the report online here.