Henry Schein released a sustainability and corporate social responsibility report, highlighting the company’s efforts to conduct itself in an ethical manner.
Henry Schein announced the publication of its 2021 Sustainability and Corporate Social Responsibility (CSR) Report, titled Bold Leadership for a Healthier World.
The company’s 2021 Sustainability and CSR Report details work done over the past year to advance its environmental, social, and governance (ESG) stewardship, including expanded ESG disclosures, several distinct health equity initiatives, and continued collaborations with business partners and suppliers to help address climate change.
As part of the company’s work to enhance its ESG transparency, Henry Schein reported for the first time on its sustainability efforts in 2021 in accordance with Sustainability Accounting Standards Board and Global Reporting Initiative Standards.
The company also issued its first Task Force on Climate-Related Financial Disclosures Report, outlining Henry Schein’s governance and related strategies to address climate risks and opportunities.
Among other work highlighted in the 2021 Sustainability and CSR Report, Henry Schein took the following steps to strengthen its ESG commitment:
- Committed to increasing the diversity of all underrepresented groups in senior levels by improving Henry Schein’s talent acquisition and organizational development practices, as well as by enhancing its compensation processes to better align with the company’s strategic objectives.
- The efforts aim to help to enrich opportunities for all Team Schein Members (TSMs) and better position the company to achieve its overall business goals.
- Signed the Business Ambition for 1.5°C Initiative, committing to set science-based targets to guide the pathway seeking to achieve net-zero emissions by 2050, and joined the World Economic Forum Alliance of CEO Climate Leaders and the National Academy of Medicine Action Collaborative on Decarbonization of the Health Care Sector.
- Advocated for the equitable distribution of health care services to underserved and underrepresented populations, donating more than $21.5 million in health care product and cash in 2021 through Henry Schein Cares and the Henry Schein Cares Foundation, Inc. to advance health equity in furtherance of the Company’s $50 million commitment to health equity announced last year.
- Co-founded the Responsible Glove Alliance, an industry collaborative established with the mission to prevent, identify, and remediate forced labor in the Malaysian medical supply chain, and adopted additional advanced human rights compliance tools and initiatives.
- Launched several new employee resources groups (ERGs) for TSMs, including the Colegas ERG for its Hispanic and Latin American TSMs and the elevAsian ERG for Pan-Asian TSMs.
- Henry Schein plans to launch an ERG for military veterans and members of the armed forces and their families, as well as an ERG for TSMs with disabilities and their aAllies. Additionally, Henry Schein deployed a new Diversity & Inclusion (D&I) performance metric for all global directors and vice presidents, linking compensation with success in achieving the company’s D&I goals, further reinforcing Henry Schein’s commitment to D&I in the workplace.
Over the past decade, Henry Schein has invested in its commitment to “ethical capitalism”, formalizing its ESG strategy into five focus areas: Empowering Team Schein, Advancing Health Equity, Accelerating Environmental Sustainability, Supply Chain Resilience, and Ethical Governance.
The 2021 Sustainability and CSR report shows the values instilled at the company’s founding and highlights how Henry Schein is giving back to the profession and communities it serves.
“Our commitment to the success of our stakeholders – our customers, TSMs, supplier partners, shareholders, and society at large – has long been the foundation of our purpose-driven approach to corporate citizenship and commercial engagement, and continues to inform our bold efforts to create a healthier world,” said Stanley M. Bergman, chairman of the board and chief executive officer of Henry Schein. “Henry Schein will continue to pursue our higher ambition as a socially responsible and sustainable organization while giving back in times of crisis and doing our part to build a healthier future for all.”